David Cameron braces for defeat on EU referendum bill September 6, 2015 Prime Minister David Cameron stands to be dealt a bruising defeat today if a cross-party coalition of Labour, the SNP and Conservative rebels vote down the government’s proposed changes to the EU referendum bill. Last week, Downing Street indicated that Cameron would U-turn on his initial refusal to impose a period of “purdah” ahead of [...]
Tesco Bank, Metro Bank and Aldermore put more pressure on Treasury over George Osborne’s new bank tax September 6, 2015 The government is expected to face fresh criticism this week as politicians and City bosses step up their attacks on a new bank tax. Labour and the SNP have tabled amendments that would exempt challenger banks and building societies from having to pay an additional eight per cent of UK profits in corporation tax, the [...]
As a Federal Reserve interest rate hike creeps closer, should we remain relaxed about the consequences? September 6, 2015 Andrea Cicione, head of strategy at Lombard Street Research, says Yes. We can’t imagine investors feeling relaxed, with a series of Fed hikes looming, but past tightening cycles have generally been benign for US stocks. During the last nine episodes, price to earnings multiples have fallen by an average 4.2x, but in seven, earnings per [...]
EU migrant crisis: This is how the chancellor plans to pay for thousands of incoming refugees September 6, 2015 George Osborne plans to pay for thousands of incoming refugees by dipping into the UK's £12bn international aid budget. In an interview on the BBC's Andrew Marr show today, the chancellor said he would use some of this money to help local councils house the refugees: The foreign aid budget can provide the [...]
Chancellor George Osborne’s bank tax comes under attack from Labour and SNP September 6, 2015 Small challenger banks and building societies will receive a boost if Labour and the SNP are successful in their attempt to amend Osborne's new bank tax. In his budget this year, the chancellor announced plans to replace the increasingly unpopular bank levy with an eight per cent surcharge on profits for banks of all [...]
EU migrant crisis: Labour leadership candidates Andy Burnham and Jeremy Corbyn say they will share their homes with Syrian refugees September 5, 2015 Following the example of the Finnish Prime Minister, Labour leadership hopefuls Andy Burnham and Jeremy Corbyn have said they will share their homes with Syrian refugees. Read more: Londoners organise a march on Downing Street to urge government to welcome refugees Speaking to Channel 4 News, both candidates said they would emulate efforts made by [...]
EU referendum: Ukip leader Nigel Farage is going on an anti-EU tour of the UK, including Leeds, Essex and London September 4, 2015 Nigel Farage – regarded by some as rockstar-esque for taking on the establishment, and others as something of a comedian – is attempting to consolidate his image by going on tour. https://twitter.com/Nigel_Farage/status/639742568268480512 The “Say No to the EU referendum tour”, which will put forward arguments as to why British people should vote to leave the [...]
EU migrant crisis: Prime Minister David Cameron adds £100m of aid funding to help Syrian refugee camps September 4, 2015 Amid growing pressure from fellow politicians and the public, David Cameron has announced an extra £100m of aid to fund refugee camps for those fleeing the Syrian war. At a joint press conference with Spanish Prime Minister Mariano Rajoy, Cameron said “Britain will act with head and heart”, taking total UK spending to £1bn. We [...]
Labour leadership race odds: Yvette Cooper gains ground with bookmakers while Jeremy Corbyn remains out in front September 4, 2015 Labour leadership hopeful Yvette Cooper has gained ground in the contest, after she overtook Andy Burnham as second favourite with one bookmaker and closed the gap with a number of others. Ladbrokes shortened its odds on Cooper to become the next leader, from 10/1 to 5/1, in second place to frontrunner Jeremy Corbyn at 2/7, [...]
EU migrant crisis: Prime Minister David Cameron announces Britain will accept “thousands” more refugees in Syria U-turn September 4, 2015 David Cameron has announced that Britain will accept "thousands" more refugees, having bowed to pressure over the humanitarian crisis in the last few days. The Prime Minister, who has been criticised on all sides for failing to act, today committed to provide resettlement for "thousands more Syrian refugees". He said Britain would act "with our [...]