Brexit News Archive: 20 Nov 2016

Office of Budget Responsibility to tear up forecasts for UK growth

Independent economic watchdog expected to predict post-Brexit UK will have low growth, higher inflation and larger deficit The government's independent economic watchdog will this week tear up its previous forecasts for the UK's growth prospects as it gives its first official verdict on the outlook for post-Brexit Britain. The Office ...
Angela Monaghan / Guardian   |   Sun, 20 Nov 2016 17:47:38

Brexit blues: weak pound pushes up guitar prices

US brands Gibson and Fender increase list prices as double digit hikes hit music stores British guitar buyers could soon be playing the Brexit blues as price rises caused by the slump in the value of the pound feed through to music stores. Prices are increasing by double digits as ...
Sean Farrell / Guardian   |   Sun, 20 Nov 2016 16:55:32

Jam tomorrow: all Philip Hammond is likely to offer struggling Britons

Chancellor's autumn statement unlikely to do much for the 'just about managing' families who voted keenly for Brexit Welcome to Jamland. Formerly known as the United Kingdom, Jamland is where the Jams live. They were once known as the squeezed middle. They have also been dubbed the people who just ...
Larry Elliott / Guardian   |   Sun, 20 Nov 2016 14:48:08

Denmark: UK ally takes hard Brexit line

Copenhagen will put its national interests ahead of old alliances in EU exit talks
FT   |   Sun, 20 Nov 2016 13:28:55

Four City Contenders For London's 'Fintech Capital of Europe' Crown

Will Brexit cost London its Europe's fintech capital status?
Alison Coleman, Contributor / Forbes   |   Sun, 20 Nov 2016 12:48:00

How a hard Brexit might affect three industries

Fashion retailers look best poised to adjust, carmakers the least
FT   |   Sun, 20 Nov 2016 12:44:10

Morrisons to slash petrol price to below £1

Conditional 10p cut could trigger fuel price war among UK's supermarkets in the runup to Christmas Morrisons is cutting the price of petrol to below £1 a litre for the first time since the Brexit vote, escalating a pre-Christmas fuel price war among Britain's biggest supermarkets. From Monday, Morrisons customers ...
Angela Monaghan / Guardian   |   Sun, 20 Nov 2016 12:39:05

Portugal's president urges EU to focus on migration and Brexit

Eight eurozone countries at risk of missing targets for repairing their finances
FT   |   Sun, 20 Nov 2016 12:13:27

UPDATE 1-French conservatives choose candidate for next year's presidential election

* Confidence in opinion polls shaken by Trump, Brexit votes (Writes through with voter quotes)
Reuters   |   Sun, 20 Nov 2016 12:13:05

Philip Hammond dashes hopes of big windfalls for struggling families

Chancellor, preparing for autumn statement, says he needs 'headroom' in finances to meet Brexit challenges Philip Hammond has admitted that the government is facing a "sharp challenge" in the face of Brexit and cautioned against any unexpectedly generous windfalls for families who are "just about managing". In a round of ...
Rajeev Syal / Guardian   |   Sun, 20 Nov 2016 11:56:12

UPDATE 1-Merkel expected to say she will seek fourth term as German chancellor

* Merkel viewed as stabilising force after Trump win, Brexit vote
Reuters   |   Sun, 20 Nov 2016 11:50:25

Brexit: Hammond tells McDonnell 'support May in negotiations'

Chancellor Philip Hammond and shadow chancellor John McDonnell discuss Brexit negotiations and welfare spending.
BBC   |   Sun, 20 Nov 2016 11:04:36

Autumn Statement: UK economy must be 'match fit' for Brexit

The chancellor tells the BBC he aims to make the UK economy "match fit" for the challenges of Brexit.
BBC   |   Sun, 20 Nov 2016 10:50:30

Infrastructure key to Britain's first post-Brexit budget: Gov't

Britain's first post-Brexit budget will focus on infrastructure and could spell an end to the previous government's rigid fiscal targets, according to a treasury statement released on Nov. 20
Hurriyet   |   Sun, 20 Nov 2016 09:55:07

Don't teach Brexit schoolkids about Tennyson: teach them maths

Learning patriotism from Michael Gove's syllabus is all very well: but basic GCSE failures are preventing thousands from taking up opportunities Michael Gove's inspiration for including Tennyson's The Charge of the Light Brigade in the new English GCSE syllabus is becoming clearer every day. Gove, one of Vote Leave's architects, ...
Phillip Inman / Guardian   |   Sun, 20 Nov 2016 07:00:30

In fighting to protect jobs and workers, let's not get caught up in xenophobia | Greg Jericho

Politicans should be wary of giving succour to racists looking to follow the Brexit/Trump narrative of blaming working-class woes on migrants There's been a lot of talk over the past couple of weeks about politicians needing to listen to the electorate. In reality, this has mostly meant that politicians need ...
Greg Jericho / Guardian   |   Sun, 20 Nov 2016 01:17:52

CBI to make plea to Theresa May for a 'smooth Brexit'

Business leaders press for 'lengthy transitional agreements' with EU Britain's biggest business organisation will make an urgent plea to Theresa May this week to come forward with clearer plans for Brexit to avoid further crippling uncertainty and serious damage to the economy. In a speech on Monday to its annual ...
Toby Helm / Guardian   |   Sun, 20 Nov 2016 00:05:22

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 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

( - 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

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