Sainsbury’s suffers Christmas sales slowdown as Black Friday hurts the supermarket January 9, 2019 Like-for-like sales at Sainsbury’s fell by 1.1 per cent over the Christmas period, the supermarket said today. Total sales excluding fuel dropped by 0.4 per cent in the 15 weeks to 5 January, while general merchandise sales fell by 2.3 per cent and clothing by 0.2 per cent. Read more: Aldi sales hit £1bn in record Christmas [...]
Theresa May defeated on ‘no deal’ vote as 20 Tories rebel January 8, 2019 MPs opposed to a ‘no deal’ Brexit drew first blood last night ahead of a momentous week for the government's EU withdrawal plans. Some 20 Tory MPs voted with Labour to restrict the chancellor's ability to cut or raise taxes in a ‘no deal’ scenario without the consent of Parliament. The move could severely tie [...]
Confidence sinks to three-year low among London businesses January 8, 2019 Confidence among London business owners has plummeted to its lowest point in three years as sales and cashflows dry up. A poll of 500 businesses in the capital showed companies are less optimistic about the city’s economy than at any time since the survey began in 2016. However the study, commissioned by the London Chamber [...]
Central banks moving ‘cautiously’ towards digital currencies January 8, 2019 Around 70 per cent of central banks are researching how to use digital currencies, according to the Bank for International Settlements (BIS), however they are “proceeding cautiously” with plans. Almost a quarter of the 63 survey participants have or will soon have the authority to issue a central bank digital currency (CBDC), the research found. [...]
EU happy to give assurances over the backstop, Irish PM Leo Varadkar claims in boost to Theresa May January 8, 2019 The EU is prepared to give fresh guarantees it does want to trap the UK in a backstop arrangement after Brexit, Ireland’s Prime Minister has said. Speaking in Mali, Leo Varadkar made it clear European leaders would be willing to give assurances which could help Theresa May win a parliamentary vote on her deal next [...]
Sadiq Khan refuses to rule out another fares freeze if he is re-elected as mayor in 2020 January 8, 2019 Sadiq Khan has refused to rule out freezing fares if he wins a second term as London mayor in next year's election. Khan was asked by the London Assembly transport committee chair Caroline Pidgeon whether he would look at freezing fares again if he was re-elected as mayor. Khan replied: "You'll have to watch this space. [...]
Oracle founder Larry Ellison reveals billion-dollar stake in Tesla January 8, 2019 The founder of software giant Oracle has disclosed a stake in the US' most shorted public company Tesla, worth approximately $1bn (£784.1m). The news, published in a filing with the US Securities and Exchange Commission (SEC), comes after Larry Ellison joined Tesla's board in December. Ellison is a long-time friend of Musk, and is currently [...]
UK not looking to delay Article 50, says Brexit secretary Stephen Barclay January 8, 2019 The UK is not looking to extend Article 50, Brexit secretary Stephen Barclay has said, rebuffing reports that officials were seeking to move the 29 March deadline date. The Telegraph reported that British and European officials are discussing the possibility of extending Britain’s formal notice to withdraw from the EU. “The government’s policy is clear [...]
Labour and Conservative MPs join forces to attempt to block a no-deal Brexit by stripping government of powers January 8, 2019 Labour and Tory MPs have teamed up to table an amendment that seeks to force the government to rule out a no-deal Brexit. Conservative backbencher Nicky Morgan and Labour MP Yvette Cooper’s proposed amendment to the Finance Bill would limit the government’s spending powers if the UK leaves the EU with no agreement. It reportedly [...]
A Brexit negotiated by Trump would have been a wild ride January 8, 2019 How would Donald Trump have approached negotiating Brexit? A few months ago, several commentators mused over this exact question. The current game of chicken between the President and Democrats in Congress, resulting in a partial US government shutdown, is perhaps the best insight we’ll get. And it shows the wild ride that a Prime Minister [...]