Brexit News Archive: 01 Nov 2016

Philip Hammond must signal genuine change, not tinker at the edges | John McDonnell

The chancellor cannot just blame Brexit in the autumn statement - many of the problems we face were introduced by his predecessor's heavy-handedness The autumn statement on Wednesday will be the first time in 10 years George Osborne will be nowhere in sight for a major fiscal event. There will ...
John McDonnell / Guardian   |   Sat, 19 Nov 2016 21:00:18

What Donald Trump's Stunning Upset Means for Markets

By Frank Holmes via Iris.xyz Call it Brexit 2.0: American Edition. Like their British counterparts, who voted in June to cut ties with the European Union (EU), American voters resoundingly rejected globalism last week, calling into question the United States' involvement in military alliances such as the North Atlantic Treaty ...
ETF Trends   |   Sat, 19 Nov 2016 12:00:26

German businesses in UK worry about Brexit's impact on their market

Birmingham's Christmas stalls are thriving but the future looks uncertain for many German firms trading in Britain Birmingham's Christmas market is thriving. Crowds of people are drinking glühwein, eating bratwurst and enjoying the traditional atmosphere of the kind found at this time of year in Dresden, Nuremberg or Leipzig. The ...
Anna Lehmann / Guardian   |   Sat, 19 Nov 2016 08:00:03

Fix your mortgage rate now if you're worried about Trump and Brexit

Amid all the uncertainty in the UK and US, borrowers want security with their mortgage repayments. But fixed-rate deals could be on the way up Good news: figures issued this week revealed that mortgages are more affordable than they have ever been. Bad news: Donald Trump's US election win is ...
Rupert Jones / Guardian   |   Sat, 19 Nov 2016 07:00:02

Drop Brexit case appeal, senior Tories urge May

Theresa May should drop plans to appeal against the Brexit court ruling, leading Conservatives say.
BBC   |   Sat, 19 Nov 2016 05:45:21

Hammond seeks headroom to react to any Brexit fallout

Chancellor to banish rigid targets in Autumn Statement
FT   |   Tue, 1 Nov 2016 21:01:30

Legally protected UK food products under Brexit threat, says Nick Clegg

Lib Dem spokesman warns EU businesses could make imitations of regionally designated foodstuffs such as Melton Mowbray pork pies and stilton Melton Mowbray pork pies, stilton cheese and British-made chocolate such as Cadbury's could be under threat from Brexit, the former deputy prime minister Nick Clegg has warned. Speaking to ...
Sarah Butler / Guardian   |   Tue, 1 Nov 2016 20:25:10

Richmond Park voters overlook Goldsmith's failings

MP untarnished by support for Brexit and poor mayoral campaign
FT   |   Tue, 1 Nov 2016 20:00:19

Canada's economy not growing 'as fast as we'd like': Finance Minister Bill Morneau

In his fall update on the economy, the finance minister says Canada's problems are compounded by slower growth in the U.S. and world and uncertainty surrounding Brexit
Gordon Isfeld / Financial Post   |   Tue, 1 Nov 2016 19:46:59

Pound under pressure: Where Britain's currency crunch is taking its toll

While Britain's post-Brexit economy has some relative bright spots, the pound isn't one of them: The currency has never been weaker. Brian Milner, Richard Blackwell and Paul Waldie take stock of what it means for Britons and their trading partners - from importers to tourism to the property market
BRIAN MILNER, RICHARD BLACKWELL AND PAUL WALDIE / Globe and Mail   |   Tue, 1 Nov 2016 19:05:20

Brexiter Crispin Odey says Britain is destined for recession

Hedge fund tycoon predicts stock market collapse, inflation and falling profits in letter to investors Hedge fund manager Crispin Odey has warned Britain is destined to have a recession and predicts the stock market will fall by 80% after Brexit. Odey, who backed the vote to leave the EU, made ...
Staff and agencies / Guardian   |   Tue, 1 Nov 2016 18:26:02

Nissan deal 'won't persuade others to invest'

One of Japan's top business strategists says investment in the UK will be smaller following Brexit.
BBC   |   Tue, 1 Nov 2016 18:00:17

Pound could fall to $1.15 as City accepts reality of Brexit, says BAML - as it happened

Investors cheer Mark Carney's decision to serve an extra year as BoE governor, as weak pound helps manufacturers sell goods abroad but makes raw materials pricier US manufacturing surveys show improvement BAML: Some investors think Brexit won't happen UK manufacturing PMI shows growth Virgin Money CEO: Thank goodness Carney's staying ...
until 1.30 / Guardian   |   Tue, 1 Nov 2016 17:55:26

Carney to stay at BoE during Brexit process - UOB

Analysts at UOB noted BoE's Carney's commitment to the bank and UK after speculation he would step down. Key Quotes: "Bank of England's Governor Mar
Ross J Burland / FX Street   |   Tue, 1 Nov 2016 16:59:40

Liam Fox's attempt to secure pre-Brexit deal with EU suffers setback

Polish MEP Danuta Hübner says Britain cannot negotiate a free-trade agreement until it has left the European Union Liam Fox's hopes of securing a trade deal with the European Union before Brexit have been dealt a blow by a leading member of the European parliament, who insists no deal can ...
Jennifer Rankin / Guardian   |   Tue, 1 Nov 2016 16:34:04

Bank of England Governor Carney to stay until 2019

(ChinaPost.com.tw) - Governor of the Bank of England Mark Carney put an end to speculation over his future Monday by announcing he would extend his contract for one year to 2019 to help secure an "orderly transition" to Brexit.
The China Post   |   Tue, 1 Nov 2016 16:11:00

Ms. Brexit: Theresa May Seeks to Reinvent Britain

British Prime Minister Theresa May is seeking to make a clean break with the leadership of her predecessor, David Cameron. Even as difficult Brexit negotiations loom, she hopes to draw on her past to reunite the United Kingdom.
Spiegel   |   Tue, 1 Nov 2016 13:36:01

European tech funding slows in post-Brexit anxiety

Deal value and volumes fall as disparity with US widens
FT   |   Tue, 1 Nov 2016 13:05:07

Reality Check: Brexit questions answered

The BBC's Europe correspondent Kevin Connolly and assistant political editor Norman Smith, answer your questions about Brexit.
BBC   |   Tue, 1 Nov 2016 12:41:45

Giving back control

The difficulties of doing Brexit sector by sector
FT   |   Tue, 1 Nov 2016 12:06:11

Mark Carney's critics must let him do his job, says Virgin Money chief

Jayne-Anne Gadhia says with Bank governor's future now settled he should be left to help steer the UK through Brexit Virgin Money's chief executive has called on Mark Carney's critics to let him get on with his job following his clarification of his departure date from the Bank of England. ...
Sean Farrell / Guardian   |   Tue, 1 Nov 2016 11:28:45

Britain Simply Isn't Going To Have A WTO Problem Post-Brexit

One of the pieces of misinformation we're all being fed about the position of Britain post-Brexit, after we leave the European Union, is that we're all going to have some terrible problem with the World Trade Organisation. The argument goes like this. After we're out of the EU then we ...
Tim Worstall, Contributor / Forbes   |   Tue, 1 Nov 2016 10:56:00

Carney to Stay at BOE Until June 2019 to Help Navigate Brexit

Carney to Stay at BOE Until June 2019 to Help Navigate Brexit Here is Bloomberg's report on this announcement. Bank of England Governor Mark Carney said he will extend his time in office by a year to 2019 to guide the economy through Britain's split from the European Union. Choosing ...
Proactive Investors   |   Tue, 1 Nov 2016 09:52:00

Blame it on the sunshine: Spain breaks summer tourism records

Brits don't appear to be staying away because of Brexit but number of business trips down
Cristina Delgado / EL PAÍS   |   Tue, 1 Nov 2016 09:38:52

Theresa May is under pressure to break a Brexit pledge that is already damaging Britain

Britain's Prime Minister Theresa May must break her promise to not give a "running commentary" on how Brexit talks are going, in order to stop the "risk of doing some damage," to the country, says one of the UK's most powerful politicians. Andrew Tyrie MP told the Financial Times that ...
Business Insider   |   Tue, 1 Nov 2016 08:30:15

Capital markets: Has Brexit killed CMU?

Capital markets activity in Europe is dominated by the UK, so the Brexit vote could have dealt a mortal blow to the European Commission's plans to promote it through the capital markets union initiative. To survive, CMU will have to get global.
Euromoney   |   Tue, 1 Nov 2016 08:00:00

Ireland invites all island to Brexit dialogue

Kenny seeks inclusive forum but unionists shun 'grandstanding exercise'
FT   |   Tue, 1 Nov 2016 05:31:47

EU markets watchdog fears UK 'conflict of interest'

Gérard Rameix says British regulators will favour City's interests in Brexit lead-up
FT   |   Tue, 1 Nov 2016 05:00:26

BOE's Carney to Extend Term to Stay On Through Brexit

Bank of England Gov. Mark Carney plans to serve an extra year as head of the British central bank, in a surprise compromise meant to allow him to steer the U.K.'s economy beyond its exit from the EU.
WSJ   |   Tue, 1 Nov 2016 00:28:48

Bank of England gov. staying through Brexit

Read full story for latest details.
CNN   |   Tue, 1 Nov 2016 00:24:16

Brexit risks 60% drop in service sector exports

Think-tank says even free trade agreement will not recoup losses
FT   |   Tue, 1 Nov 2016 00:05:54

Financial Media Spooked By Idea of Trump Victory

Writers on both sides of Atlantic are warning of a market swoon in event of a second Brexit.
Barrons   |   Mon, 31 Oct 2016 22:18:04

Could pollsters be missing hidden Trump voters?

When Donald Trump is down in the polls, it's not Donald Trump's fault, it's the polls'. Donald Trump trails when he trails because the pollsters are missing something, just like they missed something in Brexit, which they really didn't. Donald Trump is never failing; it's the polls that are failing ...
The Fix   |   Mon, 31 Oct 2016 20:44:03

Mark Carney to stay at Bank of England until 2019, sparking relief and disappointment - as it happened

Bank of England governor will stay on for an extra 12 months to provide stability after Britain triggers Article 50 Latest: May thinks it's good news BREAKING: CARNEY TO SERVE UNTIL 2019 Hammond: I'm very pleased you're staying on Sorrell: It's a shame Carney's not staying longer Tory Brexiteer: He'd ...
Graeme Wearden / Guardian   |   Mon, 31 Oct 2016 20:31:00

Don't stop at Nissan - we all need comfort letters now | Polly Toynbee

If ministers are willing to protect car firms from the ravages of Brexit, why not all of us who were lied to? Nissan stays, and the country breathes a great sigh of relief. Hundreds of thousands of jobs may now be saved and British car manufacturing rescued from Brexit calamity. ...
Polly Toynbee / Guardian   |   Mon, 31 Oct 2016 20:28:42

Mark Carney to stay as BoE governor until 2019

Central bank chief will help steer UK through Brexit before leaving the post
FT   |   Mon, 31 Oct 2016 20:04:51

Nissan assurances over Brexit cannot be published, says business secretary

Greg Clark says commercial sensitivity prevents him from meeting MPs' demands to 'show us the letter' The government's letter to Nissan promising to keep the car industry competitive after Brexit cannot be published because of commercial sensitivity, Greg Clark, the business secretary, has said. He was pressed three times by ...
Rowena Mason Deputy political editor / Guardian   |   Mon, 31 Oct 2016 19:43:17

UK bank chief stays put through Brexit

CNN   |   Mon, 31 Oct 2016 19:10:29

Bank of England governor staying through Brexit

Bank of England governor Mark Carney announced he will stay in the job until 2019.
CNN   |   Mon, 31 Oct 2016 18:45:50

Brexit & Beyond: Carney to Extend Term, Eurozone Growth, Wilders' Hate-Speech Trial

Brexit & Beyond: Europe in Flux is The Wall Street Journal's round-up of news and analysis of how Brexit will affect global business, economies and finance. You can sign up here. MUST READS Bank of England governor Mark Carney. REUTERS/Dylan Martinez/File Photo Reuters BOE's Carney to Extend Term by One ...
WSJ Brussels   |   Mon, 31 Oct 2016 18:39:11

Mark Carney will stay as Bank of England governor until 2019

Bank of England Governor Mark Carney will stay in his role until 2019, the Bank of England confirmed on Monday evening, ending weeks of speculation about the governor's future with the bank. "Recognising the importance to the country of continuity during the UK's Article 50 negotiations, and notwithstanding those personal ...
Business Insider   |   Mon, 31 Oct 2016 18:08:49

Spread up to post-Brexit high of 150 (2)

Rome, October 31 - The spread between Italian and German 10-year bonds, a gauge of Italy's borrowing costs and investor confidence, closed eight points up Monday on a post-Brexit high of 150 points compared to Friday's close of 142 points. Earlier it had been as high as 154 on fears ...
Gazzetta Del Sud   |   Mon, 31 Oct 2016 17:14:00

British government backs Mark Carney amid speculation Brexit may cut short his term

The British government has offered strong support for Bank of England Governor Mark Carney amid speculation that he'll soon announce whether he'll serve his full-term as governor.
The Associated Press / CBC   |   Mon, 31 Oct 2016 17:06:27

Capital markets: Has Brexit killed CMU?

Capital markets activity in Europe is dominated by the UK, so the Brexit vote could have dealt a mortal blow to the European Commission's plans to promote it through the capital markets union initiative. To survive, CMU will have to get global.
Euromoney   |   Mon, 31 Oct 2016 17:00:00

Mark Carney is what stands between Britain and economic chaos | David Blanchflower

Brexiteers with little grasp of economics are lining up to undermine Carney. Theresa May should ignore them and do everything she can to keep him Mark Carney is unequivocally not responsible for the slowing of the UK economy or the fall in the pound. Quite the contrary, he almost single-handedly ...
David Blanchflower / Guardian   |   Mon, 31 Oct 2016 16:39:40

Bank of England governor fate uncertain in Brexit era

(ChinaPost.com.tw) - Media speculation was divided Sunday on the fate of the governor of the Bank of England, Mark Carney, with competing claims as to whether he is set to announce his departure amid Brexit tensions.
The China Post   |   Mon, 31 Oct 2016 16:08:00

Reality Check: Brexit questions answered

The BBC's Europe correspondent Kevin Connolly and assistant political editor Norman Smith, answer your questions about Brexit.
BBC   |   Mon, 31 Oct 2016 15:44:01

Brexit Will Liberate Brits, Says Top U.K. Investor

Martin Hughes of Toscafund thinks leaving Europe behind will benefit the U.K. and its small businesses.
Barrons   |   Mon, 31 Oct 2016 15:43:08

World's biggest ad firm reports "Brexit anxiety"

Read full story for latest details.
CNN   |   Mon, 31 Oct 2016 14:15:08

Students Are Getting Spooked As Brexit Fears Hit University Applications

It's Halloween and it's students who are taking fright as new figures show a sharp drop in applications to U.K. universities.
Nick Morrison, Contributor / Forbes   |   Mon, 31 Oct 2016 14:10:00

FBI may have violated law, Carney braves Brexiters

Democrats cite statutes banning law enforcement from intervening in electoral politics
FT   |   Mon, 31 Oct 2016 13:03:56

Startling Lack Of Brexit Preparations Amongst UK Firms

Companies are not yet preparing for the UK leaving the EU despite indications that there will be quite a lot of work required to get ready.
Freddie Dawson, Contributor / Forbes   |   Mon, 31 Oct 2016 12:56:00

UPDATE 1-U.S. Treasury's Lew urges UK and EU to ensure smooth Brexit

LONDON, Oct 31 (Reuters) - U.S. Treasury Secretary Jack Lew said Britain and the European Union need to ensure their economies remain "highly integrated" when Britain leaves the bloc, after he met...
Reuters   |   Mon, 31 Oct 2016 12:14:37

Theresa May backs Carney as Bank of England governor

Prime minister 'clear in her support' as she rejects criticism from Brexiters
FT   |   Mon, 31 Oct 2016 11:59:59

U.S. Treasury's Lew urges UK and EU to ensure smooth Brexit

LONDON, Oct 31 (Reuters) - U.S. Treasury Secretary Jack Lew said Britain and the European Union need to ensure their economies remain "highly integrated" when Britain leaves the bloc after he met...
Reuters   |   Mon, 31 Oct 2016 11:28:04

Honda to stay in UK 'for now'

British government seeks deal to shield car manufacturers from Brexit fallout
FT   |   Mon, 31 Oct 2016 10:59:36

Let Mark Carney do his job - why this is not the time to replace the Governor of the Bank of England

With Brexit and a period of increasing economic uncertainty upon us, this is not the time to replace the Governor of the Bank of England. Indeed, it is Mark Carney himself who should seek certain reassurances from the government before he confirms his Governorship for another five years, writes Costas ...
British Politics and Policy at LSE   |   Mon, 31 Oct 2016 10:56:13

'Brexit anxiety' hits advertising

The world's biggest advertising firm said "Brexit anxiety" might be starting to affect its U.K. operations.
CNN   |   Mon, 31 Oct 2016 10:55:34

Independence is a 'greater threat' to Scotland's economy than Brexit

Scottish independence poses a greater threat to Scotland's booming financial services sector than Brexit, according to a report from the University of Strathclyde. Jeremy Peat, former chief economist at RBS, and Owen Kelly, head of industry group Scottish Financial Enterprise, warned that the caused by independence "look even greater" than ...
Business Insider   |   Mon, 31 Oct 2016 10:33:13

Brexit uncertainty dragging back revenues at WPP, warns Sir Martin Sorrell

Advertising giant's CEO says post-referendum gloom is growing among consumers and government has a lot more to do to calm business nerves Sir Martin Sorrell has warned that slowing revenue growth at his advertising company WPP appears to be early signs of business nerves over Brexit. WPP, the world's biggest ...
Sean Farrell / Guardian   |   Mon, 31 Oct 2016 10:09:26

Nearly a third of UK profit warnings in Q3 blame Brexit, says EY

Nearly a third of the 68 British companies that issued profit warnings in the third quarter have blamed Brexit, according to EY.
CNBC   |   Mon, 31 Oct 2016 10:06:00

Foreign investors snapped up gilts in September

Move came even as talk of hard Brexit pushed sterling to 31-year low
FT   |   Mon, 31 Oct 2016 10:05:49

Reports Suggest Carney to Serve Full Term

Bank of England Governor Mark Carney is leaning towards deciding to serve a full eight-year term, despite critics calling for him not to extend his time in charge of the British central bank, according to news reports. Carney, who has come under fire from supporters of Brexit for his stance ...
OANDA   |   Mon, 31 Oct 2016 09:43:54

WPP third quarter sales boosted by weak sterling

World's biggest advertising group warns of impact of 'Brexit uncertainties' in the UK
FT   |   Mon, 31 Oct 2016 09:20:22

Ad firm WPP warns of 'Brexit anxiety'

Ad giant WPP says slowing revenue growth in the UK may indicate "the first signs of Brexit anxiety".
BBC   |   Mon, 31 Oct 2016 07:56:21

Mark Carney ​may end speculation about future ​this week

Mark Carney could announce a decision about his future as governor of the Bank of England as soon as Thursday, amid a barrage of criticism from Eurosceptic MPs about his approach to Brexit. It is understood that the governor is considering making an announcement on Thursday at a press conference ...
Here Is The City   |   Mon, 31 Oct 2016 07:27:26

Shadow business minister: 'the problem is we're short of firms that grow'

Bill Esterson discusses Brexit fallout, the proposed small business commissioner role and his attempts to build regional support for entrepreneurs It goes without saying that the shadow minister for business, energy and industrial strategy is concerned about the ramifications of Brexit, which he says are affecting SMEs already. "Small businesses ...
Emma Sheppard / Guardian   |   Mon, 31 Oct 2016 07:00:11

Brexit News Archive: 01 Nov 2016     |     enquire