Topic filter : Referendum

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....Its expansion plans will bolster hopes that the UK’s export sector can help offset some of the domestic pressures on the economy in the years ahead as household budgets continue to be squeezed by weak pay growth and rising inflation on the back of the slide in sterling triggered by Brexit. The pound’s weakness since the referendum has made imports to the UK more expensive, but it has also been a boon to some exporters because it makes their goods more competitive in overseas markets. ... [Read full article on Guardian ]
Sunday 18th of June 2017 04:50:45 PM
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....Senior business figures have heaped further pressure on Theresa May to change course for a softer Brexit in the wake of the election, amid fresh warnings of the impact of immigration controls and leaving the single market. Stuart Rose, the Tory peer and chairman of online grocer Ocado, who backed Remain, said the election had been a “proxy re-referendum” against hard Brexit. ... [Read full article on Guardian ]
Sunday 18th of June 2017 03:48:03 AM
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....An economics professor from the London School of Economics who warned against Brexit has been appointed to the Bank of England’s interest rate-setting committee. Silvana Tenreyro was one of 280 economists who signed a public letter ahead of the referendum last year stating it would be a “major mistake” for Britain to leave the EU. ... [Read full article on Guardian ]
Monday 19th of June 2017 03:47:58 PM
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. Britain’s vote to leave the EU has squeezed living standards, hit consumer spending and dampened the country’s growth prospects, a Guardian analysis of economic news over the year since the referendum shows. ... [Read full article on Guardian ]
Thursday 22nd of June 2017 11:01:36 AM
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....Thinktanks are vying with one another to tell us about a record period of negligible growth in living standards. Alas, things are becoming even worse as the referendum-induced devaluation bites further into real incomes. ... [Read full article on Guardian ]
Sunday 18th of June 2017 06:00:04 AM
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....Early economic indicators following the Brexit vote confounded gloomy forecasts for a sharp slowdown. But a year on from the referendum and as exit talks with other EU governments begin, the effects of a weak pound and uncertainty over future trading agreements are being felt. ... [Read full article on Guardian ]
Monday 19th of June 2017 11:01:49 PM
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....The City dominates the market in clearing, a process which is supposed to reduce the risks in complex financial transactions by matching buyers and sellers as well as reducing the cost of trading, through the use of clearing houses. The business has been hotly contested since the EU referendum a year ago, when Xavier Rolet, chief executive of the London Stock Exchange, warned that 100,000 jobs across the UK were at risk if the City lost the ability to process euro-denominated transactions. ... [Read full article on Guardian ]
Friday 23rd of June 2017 04:40:12 PM
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....Britain’s consumers and UK-focused firms are among the biggest losers one year on from the shock Brexit vote that drove the value of the pound to its lowest level in more than 30 years. On the first anniversary of the EU referendum, financial services company Hargreaves Lansdown said clear winners and losers have emerged, with the pound taking the biggest hit on the markets. ... [Read full article on Guardian ]
Thursday 22nd of June 2017 11:01:08 PM
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.... Until just last year, the plan was to cut the deficit to zero by 2020 and start bringing down the debt-to-GDP ratio from this year. The EU referendum vote and Theresa May’s arrival at No 10 changed all that. ... [Read full article on Guardian ]
Sunday 18th of June 2017 04:54:09 PM
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....Mark Carney said he would want to see how businesses, financial markets and consumers reacted to the reality of the UK’s looming departure from the EU before changing his view. The governor, who attracted criticism from Conservative MPs for the recession warnings he issued before last summer’s referendum, said the Brexit talks would have a significant bearing on whether the UK’s historically high balance of payments deficit would become more sustainable. ... [Read full article on Guardian ]
Tuesday 20th of June 2017 07:33:47 AM
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....”. Hammond, who campaigned for remain in the referendum and has been arguing in cabinet against the idea of Britain leaving the EU without a deal, said the result of the general election had shown that the country was “weary after seven years of hard slog repairing the damage of the great recession”. ... [Read full article on Guardian ]
Tuesday 20th of June 2017 08:41:04 AM
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....”. There is a worry, however, that getting on will prove more difficult as Brexit negotiations finally get under way – a year on from a referendum in which O’Grady made the case for staying in the EU to protect workers’ rights. ... [Read full article on Guardian ]
Saturday 24th of June 2017 03:00:03 PM
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Latest Finance News related to Referendum

London could lose out as ECB seeks control of euro clearing after Brexit image
....The City dominates the market in clearing, a process which is supposed to reduce the risks in complex financial transactions by matching buyers and sellers as well as reducing the cost of trading, through the use of clearing houses. The business has been hotly contested since the EU referendum a year ago, when Xavier Rolet, chief executive of the London Stock Exchange, warned that 100,000 jobs across the UK were at risk if the City lost the ability to process euro-denominated transactions. ...
One year on from Brexit vote: business's winners and losers image
Source : Guardian [Read Article] Thursday 22nd of June 2017 11:01:08 PM
....Britain’s consumers and UK-focused firms are among the biggest losers one year on from the shock Brexit vote that drove the value of the pound to its lowest level in more than 30 years. On the first anniversary of the EU referendum, financial services company Hargreaves Lansdown said clear winners and losers have emerged, with the pound taking the biggest hit on the markets. ...
Philip Hammond says Brexit deal must put jobs and prosperity first image
Source : Guardian [Read Article] Tuesday 20th of June 2017 08:41:04 AM
....”. Hammond, who campaigned for remain in the referendum and has been arguing in cabinet against the idea of Britain leaving the EU without a deal, said the result of the general election had shown that the country was “weary after seven years of hard slog repairing the damage of the great recession”. ...
Bank of England says interest rates should be kept on hold amid Brexit uncertainty image
....Mark Carney said he would want to see how businesses, financial markets and consumers reacted to the reality of the UK’s looming departure from the EU before changing his view. The governor, who attracted criticism from Conservative MPs for the recession warnings he issued before last summer’s referendum, said the Brexit talks would have a significant bearing on whether the UK’s historically high balance of payments deficit would become more sustainable. ...
UK economy will slow amid Brexit talks and pay squeeze, warns CBI image
Source : Guardian [Read Article] Monday 19th of June 2017 11:01:49 PM
....Early economic indicators following the Brexit vote confounded gloomy forecasts for a sharp slowdown. But a year on from the referendum and as exit talks with other EU governments begin, the effects of a weak pound and uncertainty over future trading agreements are being felt. ...
Brexit critic joins Bank of England interest rate-setting committee image
Source : Guardian [Read Article] Monday 19th of June 2017 03:47:58 PM
....An economics professor from the London School of Economics who warned against Brexit has been appointed to the Bank of England’s interest rate-setting committee. Silvana Tenreyro was one of 280 economists who signed a public letter ahead of the referendum last year stating it would be a “major mistake” for Britain to leave the EU. ...
Pain without gain: the truth about austerity | Phillip Inman image
Source : Guardian [Read Article] Sunday 18th of June 2017 04:54:09 PM
.... Until just last year, the plan was to cut the deficit to zero by 2020 and start bringing down the debt-to-GDP ratio from this year. The EU referendum vote and Theresa May’s arrival at No 10 changed all that. ...
Jaguar Land Rover to recruit 5,000 staff after record year of sales image
Source : Guardian [Read Article] Sunday 18th of June 2017 04:50:45 PM
....Its expansion plans will bolster hopes that the UK’s export sector can help offset some of the domestic pressures on the economy in the years ahead as household budgets continue to be squeezed by weak pay growth and rising inflation on the back of the slide in sterling triggered by Brexit. The pound’s weakness since the referendum has made imports to the UK more expensive, but it has also been a boon to some exporters because it makes their goods more competitive in overseas markets. ...
Brexiters have voted for a poverty even worse than austerity image
Source : Guardian [Read Article] Sunday 18th of June 2017 06:00:04 AM
....Thinktanks are vying with one another to tell us about a record period of negligible growth in living standards. Alas, things are becoming even worse as the referendum-induced devaluation bites further into real incomes. ...
Big business leaders press Theresa May to rethink hard Brexit image
Source : Guardian [Read Article] Sunday 18th of June 2017 03:48:03 AM
....Senior business figures have heaped further pressure on Theresa May to change course for a softer Brexit in the wake of the election, amid fresh warnings of the impact of immigration controls and leaving the single market. Stuart Rose, the Tory peer and chairman of online grocer Ocado, who backed Remain, said the election had been a “proxy re-referendum” against hard Brexit. ...
Tesco says price rises are last resort as UK growth hits seven-year high image
.... The discounters Aldi and Lidl are growing sales at their fastest rate in more than two years, while more shoppers are buying less or switching to cheaper own-label products as prices rise faster than many workers’ wages. Inflation has been increasing steadily since the EU referendum result a year ago, which triggered a sharp drop in the value of the pound and pushed up the cost of imported goods. ...
The eurozone must reform or die | Kenneth Rogoff image
Source : Guardian [Read Article] Friday 16th of June 2017 05:00:00 AM
.... For southern Europe as a whole, the single currency has proved to be a golden cage, forcing greater fiscal and monetary rectitude but removing the exchange rate as a critical cushion against unexpected shocks. Part of the reason the UK economy has held up well (so far) since last year’s Brexit referendum is that the pound fell sharply, increasing competitiveness. ...
Bank of England doves right to thwart hawks seeking interest rate rise image
Source : Guardian [Read Article] Thursday 15th of June 2017 01:18:37 PM
....The continued fall in unemployment also meant a tighter labour market and, although the weak pound has put the brakes on consumer spending by making imports dearer, the other side of the coin is that a more competitive currency is helping exports and encouraging businesses to invest. The MPC hawks made the point that the Bank cut rates by a quarter-point to boost the economy after the shock result of the EU referendum last summer, and that given the better than anticipated growth and employment performance since there was now an argument for removing that part of the emergency stimulus package. ...
Bank of England edges closer to increasing UK interest rates image
Source : Guardian [Read Article] Thursday 15th of June 2017 11:11:41 AM
....The pound got some support on Thursday from the prospect of higher interest rates but at $1. 276 it is still down 14% against the dollar when compared with the night of the EU referendum a year ago. ...
UK retail sales dive sparks biggest FTSE 250 fall since last summer image
Source : Guardian [Read Article] Thursday 15th of June 2017 10:13:53 AM
....8% tracking the overall inflation rate, illustrating the decision of most retailers to pass on at least some of the increased cost of imports to consumers. After the EU referendum vote last year the pound plunged by almost a quarter, dramatically increasing the cost of imported goods. ...
Brexit Bond offers top rate of 3% - if savers are RIGHT about UK's exit from EU image
Source : Daily Express [Read Article] Wednesday 14th of June 2017 04:15:00 PM
...."This means that Brexit may not be the dominant factor determining the exchange rate on March 29, 2019. "Irrespective of how savers voted in the referendum in June 2016, they now have a further opportunity to express their views of Brexit and how it may benefit their savings. ...
UK pay squeeze breaks all sorts of records for all the wrong reasons | Larry Elliott image
.... Inflation was artificially low as a result of a temporary collapse in oil prices. The cost of crude has subsequently recovered a bit, but the depreciation of the pound since the Brexit referendum has also had the effect of pushing up the cost of living. ...
Pay squeeze intensifies as wage growth falls further behind inflation image
Source : Guardian [Read Article] Wednesday 14th of June 2017 08:35:03 AM
....When adjusted for inflation, UK employees are now earning £15 less a week after tax and deductions than they were in March 2008, six months before the collapse of Lehman Brothers and the global financial crisis. The latest drop in real wages reflects mounting pressure on household budgets, as the sharp drop in the value of the pound since the EU referendum drives up the cost of goods imported from abroad and feeds through to higher shop prices. ...
Britons feel the squeeze as inflation rises to four-year high of 2.9% image
Source : Guardian [Read Article] Tuesday 13th of June 2017 08:37:27 AM
.... The year-on-year rise in the consumer prices index (CPI) means prices continue to go up faster than wages for many workers, further denting living standards. Inflation has been steadily increasing since the EU referendum result a year ago, which triggered a sharp drop in the value of the pound and pushed up the cost of goods imported from abroad. ...
Our leaders have lost touch with reality – just like the banks did | Aditya Chakrabortty image
.... Slashed public spending, falling living standards, a “national” recovery really felt only in London and the home counties: such issues barely ever feature in the political class discourse, yet they shape our politics. I heard it in south Wales before the Brexit referendum, and I saw it in deindustrialised outer London in the run-up to this vote. ...
Moody's warns election result will complicate Brexit talks image
Source : Guardian [Read Article] Monday 12th of June 2017 11:01:40 PM
....Moody’s stripped the UK of its coveted triple A status in 2013 to put it one notch below at Aa1. The rating agency downgraded the outlook on the rating to negative from stable on 24 June last year, the day after the EU referendum. ...
Bosses are right: political uncertainty will damage the economy | Nils Pratley image
....“It is hard to overstate what a dramatic impact the current political uncertainty has on business leaders, and the consequences could – if not addressed immediately – be disastrous for the UK economy,” says Stephen Martin, director general of the Institute of Directors, pointing to a poll of members that showed 57% were quite or very pessimistic about the economy over the next 12 months. We heard similar predictions of gloom from the business world after last year’s referendum, of course. ...
Bad EU trade deal 'disastrous' for UK jobs, investment and growth image
Source : Guardian [Read Article] Monday 12th of June 2017 01:07:11 PM
.... It found they were “highly sceptical” that unfettered access to the EU market would be replaced with a growth in trade with other parts of the world. Balls said: “At the time of the referendum, many British companies thought that Brexit might lead to a reduced regulatory burden. ...
UK household spending falls for first time since 2013 image
Source : Guardian [Read Article] Monday 12th of June 2017 04:30:17 AM
....Economists are worried that the inconclusive result of last week’s snap general election will add to the mood of uncertainty among consumers and businesses alike. That will compound the pressures from the pound’s sharp drop since the EU referendum, which has pushed up the cost of UK imports and stoked inflation. ...
Farming is a fresh field for Michael Gove's slash and burn politics image
Source : Guardian [Read Article] Sunday 11th of June 2017 08:08:48 PM
....Even before he gatecrashed last year’s Tory leadership contest, knocking his supposed friend Boris Johnson out of the race, Gove was a deeply controversial figure. Accompanied by his loyal adviser Dominic Cummings, who went on to mastermind the Vote Leave campaign in last year’s referendum, Gove slashed and burned his way through decades of conventional wisdom in education – making an enemy of the teaching unions in the process. ...
Double whammy for British tourists as pound plunges and prices rise abroad image
....Holidaymakers buying €1,000 can now expect to pay around £879 after sterling dropped as markets reacted to the result of the snap general election. In July 2015, well before the EU referendum in June last year, British travellers visiting Europe could expect to pay about £700 for €1,000 – a difference of almost £200 in two years. ...
UK economy falls to bottom of EU growth league image
Source : Guardian [Read Article] Thursday 8th of June 2017 05:33:45 PM
....However, in year-on-year terms the UK was closer to the EU performance and ahead of the 19-nation eurozone. After a strong second half to 2016, when the economy defied predictions of a post-referendum slump, UK GDP was still 2% bigger in the first quarter of 2017 than a year earlier. ...
Gordon Ramsay's Brexit nightmare: chef hires team to halt rising costs image
....It also blamed concerns over recruiting staff on Brexit and is worried about uncertainty over the economy. In the accounts, for the 12 months to the end of August 2016, the firm warns: “As a consequence of the referendum in the summer of 2016 there is a great deal of uncertainty about the future direction of the economy. ...
OECD: outlook for global economy is ‘better, but not good enough’ image
Source : Guardian [Read Article] Wednesday 7th of June 2017 08:30:00 AM
....“After many years of weak recovery, with global growth in 2016 at the lowest rate since 2009, some signs of improvement have begun to appear,” Mann wrote in the OECD’s latest outlook report. After June’s EU referendum result, the OECD was, like many forecasters, forced to backtrack on its warning that the UK would suffer instant damage from the Brexit vote. ...
Advertisers should follow Vodafone's lead after Facebook and Google failures | Nils Pratley image
....Shawbrook is the challenger bank that has been a challenging investment at times for its shareholders. Floated at 290p in 2015, the shares fell as low at 130p a year ago after the referendum result – Brexit was deemed by the market to be unhelpful for UK buy-to-let lenders. ...
UK households cut back as Brexit effect on pound hits living costs image
Source : Guardian [Read Article] Tuesday 6th of June 2017 05:01:14 AM
....The survey suggested cost pressures eased off for services firms last month and they continued to hire new workers amid cautious optimism. However, many economists expect the UK will struggle to match its 2016 performance when it defied predictions of a post-referendum downturn and was instead one of the fastest-growing advanced economies in the world. ...
EY report: Scottish economy 'stuck in slow lane' image
Source : BBC [Read Article] Monday 5th of June 2017 11:23:30 PM
...."With the SNP focused on independence they've neglected jobs, businesses and Scotland's economy. "It's time they took the threat of a second referendum off the table and started concentrating on turning our ailing economy around as soon as possible. ...
The global economy can recover faster if we avoid the obvious pifalls | Nouriel Roubini image
.... Investors’ fears were not borne out, and central banks began to ease their monetary policies; or, in the case of the Fed, put rate hikes on hold. As a third example, one could cite the period after the UK’s EU referendum in June 2016. ...
Let’s hope a hung parliament can halt the Brexit disaster image
Source : Guardian [Read Article] Sunday 4th of June 2017 05:59:15 AM
.... Brexit, we are told, gives us “an enormous opportunity”. Why, thanks to her lame acceptance of a narrow result in an advisory, non-binding and grossly ill-informed referendum, “we have the opportunity to change the country for the better”. ...
UK manufacturing in healthy shape despite election uncertainty image
Source : Guardian [Read Article] Thursday 1st of June 2017 05:24:04 PM
.... A reading above 50 signals expansion; below signals contraction. The index (pdf) briefly fell below that watermark after last June’s EU referendum but has now been in growth territory for 10 months. ...
Revealed: chocolate and drinks shrink since Brexit vote with no price drop image
....The issue was raised by officials speaking for Zeebrugge, the Belgian port through which 17m tonnes of products arrive in the UK every year, the Guardian can reveal. The minutes of the meeting in Brussels note: “The Port of Zeebrugge expressed its concerns over the currency devaluation of the pound sterling, which since the referendum on Brexit fell 15%. ...
India's slowing growth blamed on 'big mistake' of demonetisation image
Source : Guardian [Read Article] Thursday 1st of June 2017 01:31:26 PM
....Although the implementation of demonetisation was seen as botched by some, the policy is thought to have been a political coup for the Indian prime minister, Narendra Modi. In March, he decisively won an election in India’s largest state that was seen as a referendum on the scheme. ...
Chateau Brexit? Average price of bottle of wine reaches record high image
Source : Guardian [Read Article] Thursday 1st of June 2017 10:15:00 AM
. Wine lovers are suffering a Brexit-related hangover as the price of the average bottle has soared since the referendum to hit an all-time high of £5. ...
UK comes bottom of G7 growth league as Canada takes lead image
Source : Guardian [Read Article] Wednesday 31st of May 2017 04:28:02 PM
....2%. The sluggish expansion in the first quarter provides the latest evidence that the early resilience to the EU referendum result last June is now wearing off as higher inflation puts consumers under pressure. ...
Sterling recovers after hung parliament prediction image
Source : BBC [Read Article] Wednesday 31st of May 2017 12:06:08 AM
....The pound has been volatile since the UK voted to leave the European Union last year. On the day of the referendum - 23 June - sterling hit $1. ...
Higher inflation drives down real wages for British workers image
Source : Guardian [Read Article] Tuesday 30th of May 2017 12:48:46 PM
....With just over a week to go until a snap general election largely focused on looming Brexit negotiations, economists at the ratings agency Standard & Poor’s are the latest to highlight the blow to living standards from last year’s vote to leave the EU. The referendum result did not deliver the drastic hit to economic growth that some had predicted but it did send the pound sharply lower. ...
Crossrail 2 hits buffers as uncertainties over Brexit and election take hold image
.... The then chancellor George Osborne duly doled out £80m to get the ball rolling, expecting a hybrid bill in the same parliament. Now, with its champions having gone after the EU referendum, the project’s prospects look bleak. ...
'Workers are being punished by Brexit' – experts debate the data image
Source : Guardian [Read Article] Thursday 25th of May 2017 11:14:25 AM
.... Employment growth appears to be picking up again after a slowdown in the second half of last year. The numbers in employment were up by over 120,000 in the first quarter of this year – the biggest quarterly increase since the EU referendum. ...
Net migration to the UK falls to 248,000 in 2016 image
Source : BBC [Read Article] Thursday 25th of May 2017 09:29:15 AM
....Net migration is the difference between people coming to the UK for more than a year, and the number of people leaving the UK for a year or more. The ONS report for 2016 includes six months of data following the EU referendum. ...
UK economy slows more than expected as inflation hits spending image
Source : Guardian [Read Article] Thursday 25th of May 2017 09:24:06 AM
....There was no growth at all in the first quarter in GDP per head, which adjusts for the size of the population and is generally seen as a better guide to prosperity than mere GDP. The figures provide the latest evidence that the early resilience to the EU referendum result last June is now wearing off as higher inflation puts consumers under pressure. ...
UK car production falls at fastest rate in more than two​-​and​-​a​-​half years image
....The drop in car production echoed the trend in new car sales, which fell 20% in April compared with a year earlier, as government cuts to subsidies for green cars and a rise in prices hit demand. The UK car industry backed the remain camp in the run-up to the EU referendum and SMMT members are fearful about possible tariffs being imposed on parts imported from the EU after Brexit. ...
If London subsidises the rest of the UK, where does that leave Scotland? | Nils Pratley image
.... To reduce that figure as a standalone nation, taxes would have to rise or spending would have to fall, other factors being equal. That makes the currency question – one of the central debates in the 2014 referendum – critical. ...
How can Macron unite Europe? He could start with its armies | Hans-Werner Sinn image
....German policymakers, for their part, could not easily help Macron bifurcate the EU even if they wanted to, because Germany’s constitution grants the Bundestag the inalienable authority to manage the country’s fiscal affairs. Even if every member of the German parliament agreed to transfer part of Berlin’s fiscal sovereignty to a European-level institution, such a decision could still be made only through a formal referendum. ...
EU accused of anti-City 'protectionism' image
Source : BBC [Read Article] Monday 22nd of May 2017 08:19:45 AM
....He said it was "a real nasty piece of economic nationalism and protectionism" to insist that euro-denominated deals should be settled in the EU. Mr Spencer, chief executive of NEX Group, told the BBC that he had voted Remain in the June 2016 referendum. ...
Brexit and the coming food crisis: ‘If you can’t feed a country, you haven’t got a country’ image
.... Indeed, this tidy little village could now stand as a blunt symbol for one of the most serious but little talked about issues arising from the Brexit negotiations: the continued ability of this country to feed itself, if the deal goes wrong. Opponents of EU membership talked during the referendum campaign about sovereignty and control. ...
From tax to Brexit, the Tories will do anything to stay in power image
Source : Guardian [Read Article] Sunday 21st of May 2017 06:00:47 AM
.... As editor of the London Evening Standard, he falls out with May almost daily. Although he did not stand up against the very idea of that stupid referendum on Brexit when in cabinet, he is doing his best to atone for it now. ...
Ikea seeks to make more products in UK to fend off post-Brexit vote price rises image
....” She said manufacturing and sourcing more locally could help offset the risks in importing goods. “Currency is our biggest challenge,” she said, referring to the fall in value of the pound against the euro and the dollar, which despite recent fluctuations, is down by between 10% and 12% since the EU referendum. ...
Brexit clouds gather over Chelsea flower show as sponsorship wilts image
Source : Guardian [Read Article] Friday 19th of May 2017 05:57:59 PM
....”. Nick Mattingley, shows director of the RHS, said sponsorship suffered as the timing of applications coincided with last summer’s Brexit referendum. ...
Sterling's fall buoys UK manufacturers as export orders rise image
Source : Guardian [Read Article] Friday 19th of May 2017 01:17:38 PM
....Economists said strong export orders were a sign that manufacturers were benefiting from a drop in the value of the pound since the Brexit vote last June. The pound is about 13% lower against the dollar than it was on the day of the referendum, making British-made goods cheaper abroad. ...
Tories receive £50,000 from man questioned by Serious Fraud Office image
Source : Guardian [Read Article] Thursday 18th of May 2017 02:12:09 PM
....The first release of donations by the Electoral Commission for this campaign shows more than £7m has already been donated to all political parties. The Conservatives’ fundraising drive followed concerns that the party’s income had dipped since the EU referendum because pro-remain donors and friends of David Cameron were keeping their chequebooks shut. ...
Royal Mail posts strong rise in profits as parcels improve image
Source : BBC [Read Article] Thursday 18th of May 2017 06:33:54 AM
.... . The fall in letter deliveries was at the higher end of expectations, with the company blaming uncertainty over the Brexit referendum for the decline. ...
Unemployment is at its lowest since 1975, so why do people feel worse off? | Larry Elliott image
....A second factor is that employers are able to buy in cheap labour from overseas. Migration from other EU countries has not fallen off a cliff despite the result of last summer’s referendum: according to the Office for National Statistics, the number of non-UK nationals from the EU working in the UK rose by 171,000 to 2. ...
UK inflation: How could latest figures impact an international property purchase? image
....But how could the uptick in CPI impact anyone planning to make an international property purchase?. UK inflation has been climbing steadily over the last year, with the post-EU referendum depreciation in the pound causing consumer price pressures to exceed the Bank of England’s (BoE) 2 per cent target for the first time in years. ...
UK inflation rate at highest level since September 2013 image
Source : BBC [Read Article] Tuesday 16th of May 2017 08:32:29 AM
....Chris Williamson, chief business economist at analysts IHS Markit, said: "The timing of Easter looks to have played an important role in pushing inflation higher in year-on-year terms. "But sterling's depreciation since the referendum last June is also clearly a significant factor, lifting prices for imports and likely to pile further upward pressure on consumer prices in coming months. ...
Reality Check: What's been going on with pay? image
Source : BBC [Read Article] Monday 15th of May 2017 02:49:56 PM
....In the last few years, low levels of inflation have meant that pay rises have on average outstripped price rises. But inflation has now been boosted, partly by the rising price of imports caused by the falling value of the pound since the EU referendum was called. ...
JP Morgan appears to make good on Brexit threat with new Dublin office image
....The new premises will be able to house 1,000 staff – double the number of personnel the US bank currently employs in Dublin. The move is regarded as the first major expansion in Ireland by a financial services firm since the UK’s referendum. ...
Could this general election be the UK's most expensive? image
Source : BBC [Read Article] Friday 12th of May 2017 12:16:58 PM
....The price tag reflects the scale of the operation to staff tens of thousands of polling stations, process millions of votes and distribute candidates' mailings. The cost of last year's EU referendum was similar. ...
Living abroad? What does the Bank of England rate decision mean for you? image
Source : Daily Express [Read Article] Thursday 11th of May 2017 03:49:00 PM
.... . However, in the almost 12 months since the EU referendum the domestic economy has shown remarkable resilience and defied all the gloomiest forecasts. ...
Bank of England warns of consumer spending squeeze image
Source : BBC [Read Article] Thursday 11th of May 2017 11:26:30 AM
....7% this year was "entirely" due to the impact of weak sterling and that raising interest rates would not be an effective way of tackling the increase in living costs. Before last June's referendum the pound was trading at about $1. ...
Bank of England warns Brexit vote will damage living standards image
Source : Guardian [Read Article] Thursday 11th of May 2017 11:14:34 AM
....8% drop in average pay, according to the Resolution Foundation thinktank. Its analysis found average pay was now expected to be £320 lower this year than predicted in the Bank’s February inflation report and £915 lower than it forecast in the May 2016 report that preceded the referendum. ...
BAE chair fails to confirm whether staff are loading bombs on to Saudi jets image
....BAE Systems saw a £1. 1bn rise in its sales last year to £19bn, which the company attributed to the fall in sterling following the EU referendum. ...
How to get the best return when selling your overseas holiday home image
Source : Daily Express [Read Article] Wednesday 10th of May 2017 12:00:00 AM
. While the pound may have recovered from its post-referendum lows, it is still -10. ...
What impact could the UK general election have on the pound? image
Source : Daily Express [Read Article] Tuesday 9th of May 2017 01:58:00 PM
....A greater Conservative majority would mean less parliamentary opposition to the Brexit-related proposals put forward by the government, which could pave the way for a smoother exit from the European Union. Subsequently, a decisive Conservative win in June is likely to give the pound a boost, potentially sending GBP exchange rates surging to their best levels since the EU referendum last June. ...
E.On profits hit by UK customer woes image
Source : BBC [Read Article] Tuesday 9th of May 2017 10:10:26 AM
....E. On also said that the lower value of the pound since the Brexit referendum vote had caused "currency-translation effects". ...
Retail sales 'get Easter boost' from food sales in April image
Source : BBC [Read Article] Tuesday 9th of May 2017 07:09:56 AM
....According to official statistics, UK retail sales posted their biggest quarterly fall in seven years in March, as the prices of everyday goods continued to climb. The value of the pound has slumped by around 14% against the dollar since the EU referendum last June, pushing up the price of imported goods. ...

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