Jaguar Land Rover moves factory to three-day week amid industry ‘headwinds’ September 17, 2018 Jaguar Land Rover (JLR) has opted to move one of its factories to a three-day week, citing industry headwinds caused by Brexit and the transition away from diesel. The car maker said its decision to reduce output at its Castle Bromwich facility in Birmingham would last until Christmas after paring production to match market demand. Read [...]
IMF warns time has run out for no-deal Brexit preparations September 17, 2018 The International Monetary Fund (IMF) today warned that the government has run out of time to prepare fully for a no-deal Brexit, saying it would impose “substantial costs”on the British economy. Christine Lagarde, the IMF's managing director, said that a no-deal Brexit risks a "reduction of the size of the UK economy", with a larger [...]
Why settle? Britain can learn from copying international competitors September 17, 2018 From the record number of business startups to historically low unemployment, there are many things that the UK gets right. Indeed, a report by Forbes late last year declared that Britain would be the best country for business this year, citing technological readiness and the size and education of our workforce as key factors. But [...]
There’s a bright, collaborative future ahead for the City and Northern Ireland September 17, 2018 Last week, I embarked on a visit to Northern Ireland to engage with its financial and professional services sector. With fewer than 200 days until the UK leaves the EU, and the Irish border proving to be one of the more contentious issues surrounding negotiations, this was an excellent opportunity to hear the views of [...]
London housing market showing signs of recovery September 17, 2018 The London housing market is showing some signs of recovery with transaction numbers at the upper end of the market up six per cent year-on-year. The number of agreed sales for houses above £750,000, representing a fifth of all transactions in London, increased six per cent in September on the same month a year ago, [...]
Brexit uncertainty to slow down UK economy further as it endures investment slowdown September 17, 2018 A fall in investment because of continued uncertainty as the date of Brexit fast approaches has weakened the UK’s economic growth outlook, according to an influential business lobby group. Economists at the British Chambers of Commerce (BCC) say growth will slow to 1.1 per cent this year, in forecasts to be published today, a downgrade [...]
Two years on, and the Brexit debate is still dominated by the two extremes shouting at each other September 16, 2018 Not every Leave voter punched the air when the referendum result came through, and not all Remain voters sunk to the floor with their heads in their hands. And yet, more than two years on from that dramatic night, the loudest voices in this debate are still the two extremes. Flick through the news channels [...]
Liberal Democrats announce plans to create UK’s first sovereign wealth fund September 16, 2018 Vince Cable, leader of the Liberal Democrats, has unveiled proposals to create the UK’s first-ever sovereign wealth fund, aiming to build up £100bn through tax reforms and asset sales. The fund would be built up over 10 years, through a combination of wealth taxes and by selling off the taxpayers’ £2.6bn stake in Royal Bank [...]
Theresa May ‘irritated’ by talk of leadership challenges September 16, 2018 Prime Minister Theresa May has said she gets “irritated” by speculation about her position as leader of the Conservative Party, as she heads towards a crucial crunch meeting with EU leaders later this week. In an interview to mark six months until Britain is due to leave the European Union, May slapped down former foreign [...]
London mayor Sadiq Khan joins calls for second referendum on Brexit September 16, 2018 The mayor of London, Sadiq Khan, has joined calls for a second referendum on the UK’s membership of the European Union, claiming the Conservative Party has been left with only “incredibly risky” options for Brexit. Khan, one of the Labour Party’s highest-ranking politicians, wrote in The Observer that an opportunity for the “best possible” Brexit [...]