Brexit News Archive: 06 Jan 2017

Michael Fish jokes that his forecasts are better than the Bank of England's dire Brexit predictions

Laura Hughes / Telegraph   |   Fri, 6 Jan 2017 18:39:15

Michael Fish on his Brexit moment: 'It's a strange honour, but I'll take it'

The man who forecast 'no hurricane' in 1987 has seen his error become a bad-predictions catchphrase - as the Bank of England has discovered Not everyone gets to have a moment named after them. If it happens, it's probably a bad thing (hello Gerald Ratner, the self-deprecating jeweller). But Michael ...
Simon Usborne / Guardian   |   Fri, 6 Jan 2017 17:57:32

Brexit eats into Jamie Oliver's Italian restaurants

Jamie Oliver is to close six Jamie's Italian restaurants as the celebrity chef is hit by a combination of rising Brexit cost pressures and tough trading. The closures will impact 120 staff, although the company will attempt to place those affected in other parts of Oliver's restaurant empire. Restaurants in ...
Times of Malta   |   Fri, 6 Jan 2017 16:00:00

Jamie Oliver to close six restaurants in 'tough market' after Brexit vote

Chef shrinks size of Jamie's Italian chain in UK to focus on international launches and expansion of Barbecoa brand Jamie Oliver is to close six of his Italian restaurants after tough trading and the "pressures and unknowns" following the Brexit vote. Oliver intends to close Jamie's Italian restaurants in Aberdeen, ...
Mark Sweney / Guardian   |   Fri, 6 Jan 2017 14:47:09

Jamie Oliver to shut 6 UK restaurants in tough Brexit market

LONDON (AP) - Celebrity chef Jamie Oliver is shutting six of his 42 Jamie's Italian restaurants in Britain amid tough trading conditions and a lower pound following Britain's vote to leave the European Union.
Associated Press   |   Fri, 6 Jan 2017 13:53:43

Sturgeon offers to shelve independence vote in return for soft brexit

Scotland's first minister would take quick referendum off the table if the UK wins a favourable, soft Brexit deal with the EU and access to single market Nicola Sturgeon has said she would take a quick Scottish independence referendum off the table if the UK wins a favourable, soft Brexit ...
Severin Carrell Scotland editor / Guardian   |   Fri, 6 Jan 2017 13:53:38

Economic forecasting in crisis: Bank of England chief economist

The Bank of England's Chief Economist bemoaned forecasting models to foresee the financial crash and the Brexit vote.
CNBC   |   Fri, 6 Jan 2017 13:32:00

Gold Rises In All Currencies In 2016 - 9% In USD, 13% In EUR and 31.5% In GBP

- Gold gains in USD, GBP, EUR, CAD, AUD, NZD, JPY- Gold gains in CNY, INR & most emerging market currencies- Gold surges 31.5% in British pounds after Brexit shock- Gold acted as hedge and safe haven in 2016 ... for those who need safe haven- Furthers signs of market ...
Zero Hedge   |   Fri, 6 Jan 2017 13:18:03

Jamie Oliver to close six restaurants in 'tough market' following Brexit vote

Jamie Oliver is to close six of his Italian restaurants after tough trading and the "pressures and unknowns" following the Brexit vote. As every restaurant owner knows, this is a tough market and post-Brexit the pressures and unknowns have made it even harder Simon Blagden, chief executive of the Jamie ...
The Guardian / South China Morning Post   |   Fri, 6 Jan 2017 12:24:15

BoE's Haldane admits forecasting errors in run-up to Brexit

Andrew Haldane, chief economist at the Bank of England, has admitted the central bank misjudged the impact of the Brexit vote on the UK economy.
Professional Pensions   |   Fri, 6 Jan 2017 11:55:00

Nicola Sturgeon: Second independence referendum 'off the table' in event of soft Brexit

Auslan Cramb / Telegraph   |   Fri, 6 Jan 2017 10:08:02

Persimmon still worth holding, despite Brexit fall out

The shortage of new UK homes and government support for the market keeps builder Persimmon (LON:PSN) in the frame for investors, reckons US brokerage Citi. It rates the company, which was top Footsie gainer yesterday after an upbeat set of 2016 results, as 'neutral' but lifts the price target to ...
Proactive Investors   |   Fri, 6 Jan 2017 10:05:00

Jamie Oliver to close six restaurants in 'tough market' after Brexit vote

Chef shrinks size of Jamie's Italian chain to focus on international launches and expansion of Barbecoa brand Jamie Oliver is to close six of his Jamie's Italian restaurants after tough trading and the "pressures and unknowns" following the Brexit vote. Oliver intends to close restaurants in Aberdeen, Exeter, Cheltenham, Richmond, ...
Mark Sweney / Guardian   |   Fri, 6 Jan 2017 09:07:51

Exclusive: Peers will not sabotage Brexit, Lord Speaker tells Theresa May ahead of Supreme Court ruling

Christopher Hope / Telegraph   |   Fri, 6 Jan 2017 08:18:36

ANDY HALDANE: Failure to predict the 2008 crisis was a 'Michael Fish' moment for economists

The Bank of England's chief economist likened economists' failure to predict the economic carnage of the 2008 financial crisis to Michael Fish's weather forecast on the eve of the Great Storm of 1987. Andy Haldane said there was "a massive oversight" in economists' models before the crisis which did not ...
Business Insider   |   Fri, 6 Jan 2017 08:15:43

Bank of England admits 'Michael Fish' moment with dire Brexit predictions

Steven Swinford / Telegraph   |   Fri, 6 Jan 2017 06:37:13

UK's new car sales drive borrowing boom

Surprising surge in consumer spending after Brexit vote
FT   |   Fri, 6 Jan 2017 05:31:59

Chief economist of Bank of England admits errors in Brexit forecasting

The Bank of England's chief economist has admitted his profession is in crisis having failed to foresee the 2008 financial crash and having misjudged the impact of the Brexit vote.
Here Is The City   |   Fri, 6 Jan 2017 04:26:44

Crash was economists' 'Michael Fish' moment, says Andy Haldane

The Bank of England's chief economist says his profession is "in crisis" after the financial crash and Brexit vote.
BBC   |   Thu, 5 Jan 2017 23:13:41

Bank of England admits 'Michael Fish' moment with dire Brexit predictions

Steven Swinford / Telegraph   |   Thu, 5 Jan 2017 22:20:58

Exclusive Peers will not sabotage Brexit, Lord Speaker tells Theresa May ahead of Supreme Court ruling

Christopher Hope / Telegraph   |   Thu, 5 Jan 2017 21:00:00

Chief economist of Bank of England admits errors

Andrew Haldane says field's narrow models ignored 'irrational behaviour' The Bank of England's chief economist has admitted his profession is in a crisis having failed to foresee the 2008 financial crash and having misjudged the impact of the Brexit vote. Andrew Haldane, said it was "a fair cop" referring to ...
Phillip Inman / Guardian   |   Thu, 5 Jan 2017 20:52:01

Brexit ministry's top official opposed Barrow's role

Olly Robbins wanted to take back control over EU negotiations
FT   |   Thu, 5 Jan 2017 18:13:32

The Brief from Brussels: Norway worries over Brexit

This is the Brief from Brussels, a roundup of the top stories from across Europe.
euronews   |   Thu, 5 Jan 2017 18:08:29

UK finance minister Philip Hammond in UAE to gauge mood for post-Brexit trade deals

The British Chancellor of the Exchequer says the UK's trade relations with its traditional partners will be more important, and provide more opportunities, after Brexit
The National   |   Thu, 5 Jan 2017 14:29:00

Norway Fearing Very Hard Brexit

Britain lacks experience in international negotiations due to its long membership of the European Union and this can slow talks, the prime minister of non-EU Norway told Reuters, adding that she feared "a very hard Brexit". British Prime Minister Theresa May intends to launch by the end of March the ...
OANDA   |   Thu, 5 Jan 2017 14:00:58

Norway frets over 'very hard' Brexit

Britain lacks experience in international negotiations, according to Norway's Prime Minister, which means it could complicate its Brexit talks.
euronews   |   Thu, 5 Jan 2017 14:00:28

UK finance minister Philip Hammond in UAE to gauge post-Brexit trade deals

The British Chancellor of the Exchequer says the UK's trade relations with its traditional partners will be more important, and provide more opportunities, after Brexit
The National   |   Thu, 5 Jan 2017 13:55:10

Economics profession 'in crisis', says Bank of England's chief economist - Politics live

Rolling coverage of the day's political developments as they happen 1.51pm GMT Haldane is taking questions now. Q: What scope do you see for more assertive policies to alter the distribution of wealth? 1.40pm GMT Andy Haldane, the chief economist at the Bank of England, is speaking at the Institute ...
Andrew Sparrow / Guardian   |   Thu, 5 Jan 2017 13:51:01

Brexit frees the UK to work with China, Hong Kong to promote free trade, says Fox

Brexit will enable Britain to work with China and Hong Kong to promote global free trade as it will have more freedom to set its own trade rules, according to the UK's trade minister. Liam Fox, Secretary of State for International Trade, said that the British people's vote to leave ...
Enoch Yiu / South China Morning Post   |   Thu, 5 Jan 2017 12:42:08