Sterling rallies as Theresa May prepares to rule out no-deal Brexit February 26, 2019 The Prime Minister is reportedly set to rule out a no-deal Brexit in order to fend off a mass cabinet revolt against her that could see 15 ministers resign, it is reported. Sterling rose to a four-week high against the dollar of $1.319, and a 21-month high of €1.162 against the euro as markets reacted to developments [...]
How to ride the pound sterling rollercoaster through a no-deal Brexit February 26, 2019 With no signs of letting up, the cold winds of Brexit uncertainty blowing through parliament have been pretty chilling for the UK economy. With Theresa May revealing on Sunday that MPs might not vote on her new deal until 12 March, and rumours swirling that Brexit may be delayed until May or beyond, businesses are [...]
Regulator asks court to hold Elon Musk in contempt as another Tesla tweet lands him in hot water February 26, 2019 The Securities and Exchange Commission (SEC) has asked a judge to hold Tesla billionaire Elon Musk in contempt over a fresh tweet the regulator believes could have misled investors. Musk told his followers on 19 February that “Tesla made 0 cars in 2011, but will make around 500k in 2019”. Read more: Elon Musk denies [...]
Labour will back second referendum on Brexit, Jeremy Corbyn announces February 25, 2019 Labour will back moves for another referendum on Brexit, Jeremy Corbyn has announced. In a statement released just 30 minutes before he was due to meet with his MPs, the Labour leader said his party would either put forward or support an amendment backing another public vote. Corbyn has been under pressure to adopt such [...]
Theresa May keeps delaying the Brexit vote, but the clock is ticking for business to prepare for a no-deal outcome February 25, 2019 On her way to an EU-Arab League summit over the weekend, Theresa May announced that she would not provide British parliamentarians with a meaningful vote on an altered Brexit deal until perhaps 12 March. Politicians wanted that opportunity this week, but instead, the embattled leader has once again sought to delay proceedings as she struggles [...]
Sadiq Khan gets green light to increase council tax and business rates to tackle violent crime February 25, 2019 The London Assembly has backed Sadiq Khan's budget which includes plans to give an extra £234m to policing and tackling violent crime through council tax and business rate hikes. Around £95m has already been announced for the Metropolitan police, which has to make £263m worth of cuts by 2022-23. The £95m announced last December will be funded mostly from [...]
Theresa May refuses to say if ministers will be sacked if they vote to delay Brexit February 25, 2019 Theresa May has refused to say whether ministers will be sacked if they vote for a plan which could see Brexit delayed beyond March 29. A proposal put forward by Labour’s Yvette Cooper could force the government to get an extension to the Article 50 negotiating process if a withdrawal agreement has not been agreed [...]
Crossrail bosses hope to give estimate for new opening date ‘by April’ February 25, 2019 London mayor Sadiq Khan has said there is no date that Crossrail chief executive Mark Wild can give "with confidence" for when the delayed railway will open, but that he hopes to give an estimate by the end of this financial quarter. The £17.6bn Elizabeth Line, which will stretch from Shenfield in the east to Reading in the [...]
Blackrock chief executive Larry Fink calls UK ‘irresponsible’ over Brexit uncertainty February 25, 2019 Blackrock chief executive Larry Fink has slammed the UK as “irresponsible” due to the continued uncertainty surrounding Brexit. The boss of the world’s largest asset management fund told CNBC that a lack of understanding surrounding the UK’s future relationship with the EU has forced firms to take action in order to prepare. Read more: Businesses, [...]
Theresa May poised to extend Article 50 beyond March to head off a no-deal Brexit February 25, 2019 Theresa May is poised to ask the EU to delay Brexit after Tory MPs drew up an amendment to grant the Prime Minister more time in the negotiations. Last night May caused more anger in the business community when she announced that she would in fact hold the meaningful vote on 12 March, just two [...]