Consumer spending falls in October as shoppers continue to abandon the high street November 13, 2018 UK consumer spending dipped in October after having risen for two months, with an e-commerce rebound propping up a two per cent fall in face-to-face sales. Expenditure has fallen in six of 10 months so far this year, adding to a cocktail of concerns for bricks-and-mortar retailers, according to Visa UK Consumer Spending Index data [...]
Business has spoken: The UK cannot afford a no-deal Brexit November 13, 2018 We thoughts that we were heading towards the final furlong – at long last, a Brexit deal – after an interminable period which has seen runners and riders fall and many a twist and turn along the way since the public voted to leave the EU in June 2016. Then the minister Jo Johnson resigned, [...]
The US midterms: Good for Democrats, but better for markets November 13, 2018 American politics is in a febrile state. Deep partisan divisions, heightened by Donald Trump’s controversial rhetoric and policies, have resulted in a historic year for midterm voter turn-out. Last Tuesday, voters on the left and right were spurred on by a conviction that the 2018 midterms were more important than any other in history. Politically, [...]
Brexit deal still possible within 48 hours, says Cabinet Office minister David Lidington November 13, 2018 A Brexit deal may still be achieved within the next 48 hours, according to a government minister. Cabinet Office minister David Lidington told Radio 4’s Today programme that “we are almost within touching distance now” this morning. Lidington said he was “cautiously optimistic” about the prospects of negotiators striking a deal in the next two [...]
Is central bank independence even a thing? November 13, 2018 Parents often find it tough to let go of the control they have on their children’s lives, no matter how old they are. While children usually tend to wriggle out of these constraints, the constant jostling between two often opposing opinions is a worldwide phenomenon. And such is the relationship between the government and the [...]
Theresa May says Brexit deal is near as talks enter endgame November 12, 2018 Theresa May has declared that the Brexit talks are entering the endgame, though she warned that the UK would not accept an agreement “at any cost.” Speaking to a senior City audience at the Lord Mayor’s banquet, the Prime Minister described the negotiations as “immensely difficult” but insisted she would not shy away from tough [...]
Labour’s Keir Starmer insists Brexit can be stopped as he defies Jeremy Corbyn November 12, 2018 Labour’s top team is once again at odds over Brexit, with frontbencher Sir Keir Starmer contradicting his leader’s claim the decision to leave the EU cannot be reversed. Speaking on Monday morning, the Shadow Brexit secretary said: “Brexit can be stopped – but the real question is what are the decisions we are going to [...]
Pound falls to 11-day low on uncertainty over Brexit deal November 12, 2018 The pound was hit by fears over Brexit this morning, as it dropped almost one per cent against the dollar to an 11-day low. The currency slumped by 0.94 per cent to $1.285 in the early morning, after a three-week high of $1.316 last Wednesday. Sterling took a hit on Friday after transport minister Jo [...]
Sadiq Khan: UK must remain clearing king after Brexit November 12, 2018 London mayor Sadiq Khan will weigh in on the debate over Europe's post-Brexit clearing industry today, warning the EU that it must guarantee firms continued access to the UK in the event of a “no deal” scenario. Khan will tell German finance minister Olaf Scholz that EU banks and traders should not be permanently “locked out” [...]
Star trader Neil Woodford sells an estimated £1.4bn of shares in six months November 11, 2018 Top fund manager Neil Woodford has reportedly sold £1.4bn of shares in the last six months. The ex-Invesco star trader has sold down positions in companies such as pharma business Astra Zeneca, brickmaker Forterra and travel website Hostelworld. According to estimates from the Sunday Times, Woodford’s selling spree totals £1.4bn since the end of March. [...]