Some of NI’s largest businesses have written to MPs urging them not to let the UK leave the EU without a deal. They say that no-deal would “result in significant damage to our export markets, supply chains, consumer spending power and the region’s competitiveness”. The letter has been organised by the ... Read More »
Two prominent City of London figures have warned EU leaders about the dangers of stripping London of the lucrative euro clearing trade after Brexit. A proposed move could cost investors €100bn (£83bn) over five years, Xavier Rolet, chief executive of the London Stock Exchange, said on Monday. Seperately, Michael Spencer, founder ... Read More »
London’s lead in financial services technology risks being blunted by bureaucratic new migration rules, according to business leaders cited by the latest House of Lords report on leaving the European Union. Peers conclude that the fast-growing sector is one of a number of world-beating industries at risk if London loses ... Read More »
The chief financial officers (CFOs) at Britain’s biggest companies are more worried than their European counterparts about how Brexit will affect their firms’ bottom lines, according to a new survey by Deloitte. 65% of British CFOs say Brexit negotiations will be “bad for business,” compared with just 37% of European ... Read More »
Parliament must vote on whether the UK can start the process of leaving the EU, the High Court has ruled. This means the government cannot trigger Article 50 of the Lisbon Treaty – beginning formal exit negotiations with the EU – on its own. Theresa May says the referendum – ... Read More »
Real Assets said it would continue the construction of its ’22 Bishopsgate’ project in London’s financial district, despite the uncertainty following Britain’s vote to leave the European Union. The real estate asset manager, a unit of AXA SA, said the project has a target completion date of 2019. Since the ... Read More »
IT blue CHIP Infosys has reported a 6.12 per cent rise in consolidated net profit at Rs 3,606 crore for the quarter ended September 2016 against Rs 3,398 crore in the same period of last year. However, the company slashed the revenue outlook for the fiscal year ending March 2017 ... Read More »
The new vice-president of a major international business school accreditation organisation has warned that Brexit could cause “irreparable” damage to UK business education and that there needs to be an “awful lot” of discussion to ensure it is avoided. Rebecca Taylor, who became vice-president (academic) of the European Foundation for ... Read More »
Britain’s services sector enjoyed a record rise last month, as companies shrugged off the initial shock of the vote to leave the EU, according to a survey of business activity that adds to signs the economy has escaped recession in the immediate aftermath of the referendum. The Markit/CIPS purchasing managers’ ... Read More »
UK will continue to attract investment, chancellor says Philip Hammond, the new(ish) chancellor, says Britain will remain an outward-looking country, attractive to foreign companies: In a statement released to coincide with a visit to Jaguar Land Rover (owned by India’s Tata), he said: As an outward-looking country, we will continue ... Read More »
Owen Smith says he will try to stop Theresa May formally triggering Brexit unless she promises a referendum on the final deal or calls a general election to approve it. The Labour leadership challenger said his party should not give the Tories a “blank cheque” on negotiations. But rival Jeremy ... Read More »
European shares close lower A number of disappointing company results – from brewer Carlsberg, Austrian brickmaker Wienerberger and insurer Admiral – helped send stock markets into negative territory. Investors were also nervous ahead of the latest US Federal Reserve minutes, and what they might hint about the course of interest ... Read More »
