So if we can’t do quick agreements, what do we do? In my view, we need to recognise that time is not our friend and seek an interim agreement with the EU. For a limited period, of say three years post-Brexit, the UK would remain in the single...
Read moreCrispin Odey ends three-year short of fund giant Aberdeen
The hedge fund tycoon Crispin Odey has brought down the curtain on one of his longest-running short positions in the London market, booking a profit of several million pounds on his three-year bet against Aberdeen Asset Management. Shares in...
Read moreCutting interest rates will not help the UK, says ex-bank of England deputy
The monetary policy committee’s “disposition is to make a further [rate cut] in November or December, but I personally wouldn’t favour that,” said Sir John, who sat on the MPC from 2006 to 2009. “How effective could it be to take off a further 15...
Read moreEnergy industry urges overhaul of power line funding
Consumers, both industry and households, pay most of the rest via their bills, yet most small power plants do not contribute at all. The amount industrial users pay is determined by how much power they are drawing from the grid at peak times...
Read moreInflation could double as oil price pushes up petrol costs
“It is a question of firms deciding not to shed any headcount, but not to go on a massive hiring spree either – they are sitting steady,” said Simon Wells at HSBC. At the same time EY’s Item Club has updated its economic forecasts, predicting...
Read moreCaution over weak pound hits high street takeover deals
However, it was said that while the deal has taken longer than first thought, the conversation is still going on. It is thought that if a takeover can be agreed it could value the tent, waterproof and cycle retailer at around £130m. The tumble...
Read moreThe week’s news in brief: October 17
● The Democratic party’s left wing is pressing Barack Obama to sack Mary Jo White, who chairs the Securities and Exchange Commission, the main US financial regulator. In a blistering letter, Elizabeth Warren, the Massachusetts senator, called on...
Read moreChina lays ground for free trade talks with Britain
As the EU has deals of various types in place with around 50 countries, from South Korea to Egypt to Mexico, adopting these would save Britain time negotiating new deals from scratch. “Around 13pc of UK exports go to countries that the EU has an...
Read moreMajority of Royal Mail staff reject chance to sell shares
The Communication Workers Union advised Royal Mail employees to hold on to their shares. If they do not sell them until October 2018, they stand to make a tax-free sum of money. If they sell them before, they will have to pay income tax and...
Read moreHas William Hill backed the wrong horse with its Amaya deal?
The other, is to step away from the merger frenzy that has engulfed the gambling industry and go back to the drawing board. Hill has been without a chief executive since July so it should prioritise finding a new one who can “kitchen sink” the...
Read moreSky to explain its new plans for growth after share price slump
It is expected to focus on prospects in Germany, however, where it is attempting to expand the pay-TV market with the launch of a Sky One entertainment channel to build on its sports and film packages. Home-grown programming designed to appeal...
Read morePredatory funds circling BrightHouse
Buy as You View, BrightHouse’s rival, agreed in March to pay 59,000 customers back almost £1m collected from them for missing payment dates. The hedge funds are betting that BrightHouse could face a larger bill that could put pressure on its...
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