Scottish independence TV debate: Alistair Darling pounds Alex Salmond on Plan B for currency August 5, 2014 Alistair Darling piled the pressure on Scottish First Minister Alex Salmond last night over his plans for a Scottish currency after independence as the two rival campaign leaders battled it out in their first television debate ahead of next month’s referendum. During the two-hour exchanges broadcast only to viewers in Scotland, Darling, the leader [...]
Vote no in Scottish independence referendum for more tax and legal power, says Westminster August 5, 2014 Scotland could get greater control over its tax and legal systems if it votes No in the independence referendum next moth, Westminster politicians have promised. The leaders of Labour, the Liberal Democrats and the Conservatives in Westminster agreed to hand over more powers to Scotland if the nation votes against independence on 18 September. [...]
Scottish independence debate: Here’s what Twitter’s saying about Salmond V Darling August 5, 2014 Scotland’s First Minister Alex Salmond and Alistair Darling, leader of the Better Together campaign, are going head to head in a live TV debate ahead of the Scottish Independence Referendum. In the blue corner, Salmond is urging Scotland to vote for independence, and on the other side is Darling, who is arguing for Scotland to [...]
Are investors underestimating the risks of the Scottish independence referendum? August 5, 2014 Bill O’Neill, head of the UK investment office at UBS Wealth Management, says Yes. So far, the independence debate has been black or white: union or separation. Yes, the market is anticipating a rejection, which would see a modestly positive reaction in sterling, gilts and equities. But investors need to consider the wider picture presented [...]
Scottish independence could have “material adverse effect” on RBS, says bank August 1, 2014 RBS has reiterated that a vote for Scottish independence would negatively impact its business. Although the initial comments were in a statement in April, the bank today said in its half-yearly report that a yes vote could change the "fiscal, monetary, legal and regulatory landscape to which the group is subject". It also mentioned the prospect [...]
Scotland puts on a show at Commonwealth Games ahead of independence vote July 23, 2014 Scotland put on a high-energy Commonwealth Games opening ceremony featuring a bevy of celebrities, including Billy Connolly and Rod Stewart, before the Queen and a TV audience of hundreds of millions. It was a colourful, chest-beating show by the city of Glasgow at Celtic Park, no doubt intended to stir the emotions of every [...]
North Sea oil forecast hits Alex Salmond’s Scottish independence plan July 10, 2014 The bid for Scottish independence took another hit yesterday, when the Office for Budget Responsibility (OBR) downgraded its forecast on North Sea oil and gas revenues by a quarter. The economy watchdog said in its annual fiscal sustainability report that it now expected around £40bn would be raised between 2019-20 and 2040-41, due to declining [...]
Investors flee Scotland ahead of independence referendum July 9, 2014 Businesses are diverting investment away from Scotland and into other areas like the north of England because of the uncertainty around September’s independence referendum, PwC bosses said yesterday. And the business services group’s chairman Ian Powell added that being part of a larger trading bloc will be beneficial for the UK and Scotland, particularly in [...]
UBS: A No vote on Scottish independence will still shake financial markets July 9, 2014 International investors aren't taking the Scottish referendum seriously enough. That's the verdict from Swiss bank UBS. In all their discussions with investors, "the topic of Scotland's independence referendum (if it is mentioned at all) is generally not treated seriously". Globally, the media has treated the referendum as a light entertainment story, and Google data suggests [...]
Independence Day euphoria: Stocks nearly always jump before 4 July July 4, 2014 Yesterday saw tremendous performance by US stock markets as they closed early for the week, reflecting the national Independence Day holiday, which falls today. The Dow Jones Industrial Average moved above the 17,000 mark for the first time in its history, propelled by labour market data that crushed analyst expectations. Perhaps we shouldn't be surprised [...]