Seven months after apologising to MPs, HMRC is now boasting of a “significant recovery” in its call-handling services June 13, 2016 HMRC has stressed a dramatic improvement in its call handling processes, with 90 per cent of calls answered, and the average call answered inside of six minutes. Speaking to MPs at the Public Accounts Committee earlier today, HMRC chief executive Jon Thompson, said that the performance represented “a significant recovery”. Last year, HMRC was slammed by a [...]
Sterling could drop almost a quarter of its value against the dollar after a Brexit vote, two economists have forecast June 13, 2016 Sterling's value against the dollar could plummet by as much as a quarter following a Brexit vote, according to a pair of economists. This week has seen the value of the pound reach a two month low against the dollar, dropping to $1.4137 on the back of fears around a vote to leave the EU. [...]
Before the bell: What you need to know before the US market open June 13, 2016 China's decelerating economy is causing fresh concern across international markets and the International Monetary Fund isn't helping. Here's what you need to know before the US market opens at 14:30 London time. The US market is pointing heavily south ahead of the open. The S&P 500 is down by 0.31 per cent in the pre-market. The Nasdaq [...]
Meet the man behind the Uber of the exchange world June 13, 2016 In less than eight years, Bats Europe has gone from being a one-man operation in a Canada coffee shop to the largest stock exchange on the continent by market share and value traded. But despite its growth, the company’s chief executive – and first employee – Mark Hemsley still likes to emphasise its small business charm. “We’re not [...]
Remain campaign can’t rely on Labour voters June 13, 2016 With just 10 days to go until Britain votes on its membership of the European Union, how much ammunition do the two sides have left? The Leave camp feel they’re on to a winner with talk of Turkey joining the EU, not least with immigration remaining top of the list of public concerns. Number 10 [...]
With a June rate rise apparently off the cards, has the US Fed left it too late to normalise monetary policy? June 13, 2016 Neil MacKinnon, global macro strategist at VTB Capital, says Yes. The US Federal Reserve got the ball rolling by raising interest rates back in December and looked for an additional four increases this year. This was promptly shelved following the slide in markets in January. My view is that the Fed kept interest rates too low [...]
Week ahead: Investors watch BoE and sterling as EU vote nears June 13, 2016 Brexit braying and the Bank of England’s interest rate decision will be closely followed by investors this week. Ahead of the BoE’s announcement on Thursday we’ll hear from the US Federal reserve, and though markets are not expecting a move from either, investors will be paying close attention to the language used by policy makers. [...]
Brexit bank headache, 7 years of limbo: What Europe said on Brexit today June 12, 2016 Top leaders in Europe's finance world have spoken out on the Brexit debate on Sunday, with warnings of a headache for German banks and seven years of "limbo" in negotiations. German banks would be hit if Britain voted to leave the European Union, the head of the country's financial watchdog has warned. The heavy exposure of [...]
These are likely to be the most pro-Europe places in Britain June 12, 2016 Where in Britain are the biggest supporters of remaining in Europe? According to one bookie, and perhaps surprisingly, it's not London which is expected to produce the biggest support for the Remain camp in the upcoming referendum, now less than two weeks away from the crunch vote. It's Edinburgh which Ladbrokes pegs as coming out as the top [...]
Farage on Brexit sterling slump: “So what?” June 12, 2016 Brexit supporter and Ukip leader Nigel Farage has said it won't matter if sterling falls if Britain votes to leave Europe in the upcoming referendum. "Even if sterling were to fall a few percentage points , so what?" he said, speaking on the BBC's Andrew Marr Show on Sunday morning. "It's a floating currency and it will [...]