No wonder the public doesn’t trust Labour with the economy – shadow chancellor John McDonnell can’t even add up

More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Julian Harris whatsapp Share But if Labour was hoping to turn a new leaf, 2017 has not started particularly well. Earlier this week McDonnell’s team released a statement with the breathless headline – “NEWS FROM LABOUR: Hammond’s £5.4bn tax giveaway to big banks”. Sounds exciting, even scandalous, no? Unfortunately, nearly every word is completely incorrect.Read more: Is the Labour Party in terminal decline?Firstly, the figures included in the statement are not “news” – or at least not new news. They are from November, published in the Office for Budget Responsibility’s outlook which accompanied the Autumn Statement and was widely perused in both Westminster and the City at the time.More importantly, Labour has muddled them up. The £5.4bn headline is the result of an embarrassing mistake in McDonnell’s back-of-fag-packet calculations. His shadow Treasury team, the people who want  to control Britain’s multi-trillion-pound public finances, tried to add up five simple numbers (estimating income from the bank levy), yet somehow put the figures in the wrong columns and ended up £1bn out. Oops.Read more: Labour and the Tories are blaming each other for rising train fares Among its extensive list of New Year’s resolutions, the Labour party would have presumably included: “Try to win back an ounce of economic credibility”.Under the hapless leadership of socialist fanatics Jeremy Corbyn and John McDonnell, this once-proud party has plummeted in the polls, with a survey late last year revealing that just 18 per cent of voters trust Labour to manage the public finances. The Tory leadership, despite widespread daily criticism of its handling of Article 50, was trusted by 44 per cent of respondents. The correct number is £4.4bn. So what is this “tax giveaway”? It’s the difference between projected bank levy takings before and after George Osborne announced he would gradually replace the levy (a tax on balance sheets) with a surcharge (a tax on profits). Between the current fiscal year and the end of this parliament, the government will earn £4.4bn less from the bank levy. However, it will pull in an extra £4.7bn from the new surcharge. Rather than a “giveaway”, the numbers reveal an extra £300m to be paid by banks.With the UK on the brink of historic change, the country needs a strong opposition more than ever. Yet Labour, instead of bothering itself with the finer details of the Brexit process, has started 2017 by spewing out silly and error-riddled attempts at banker-bashing. To save their party, Labour MPs must – somehow – find a way of toppling McDonnell and Corbyn before the year’s up. whatsapp Thursday 5 January 2017 12:38 am No wonder the public doesn’t trust Labour with the economy – shadow chancellor John McDonnell can’t even add up by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical Mattersmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It LoveWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedPost FunCops Called To Investigate Smell From Abandoned House Didn’t Expect To Find ThisPost Fun read more

LSE-Deutsche Boerse merger thrown into chaos: Reactions from City analysts and Westminster

“However this is not the end of the story and there is still a pressing need for the regulators in the U.K. to look at this responsibly from the perspective of UK Plc.” – Anne Marie Morris, Conservative MP Here’s how the City has reacted:Read more: The inside story of how the LSE’s mega-merger was suddenly derailed whatsapp Emma Haslett Last night’s announcement that the mega-merger between the London Stock Exchange (LSE) and Deutsche Boerse may have been derailed entirely by competition concerns in Europe has left the City reeling.The £21bn merger, which had overcome the potentially devastating hurdle of Brexit without so much as a shrug, was thrown into chaos last night after it emerged regulators were likely to block the deal unless LSE can sell its majority stake in an Italian bond trading platform – a sale which LSE said it “could not commit to”.  1. It may have been blocked anyway “Yes it’s clear the parties to the deals themselves are beginning to look at this deal more carefully to look again at whether it’s in their commercial interests . LSE’s unwillingness to be forced to sell its Italian business is it seems to me symptomatic of a rethink post the Brexit decision. “LSE is trading sharply lower as it becomes clear that the merger with Deutsche Borse is on a knife-edge. LSE is teetering – its shares were trading up around 50 per cent since the merger was first mooted last February. “There is a long, long way to fall if this tie-up dies. The regulatory hurdles were always a risk and with Brexit there are additional hurdles to clear that seem close to insurmountable now.” – Neil Wilson, senior market analyst, ETX Capital by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikecarammelloWhat are the top 10 most expensive cat breeds in the world ? – CarammellocarammelloSurfsharkProtect your digital life with an award-winning VPN, clickSurfsharkBuzzerty8 Signs you may have Rheumatoid ArthritisBuzzertyRelocation Target11 Most Isolated Places At The End Of The EarthRelocation Targettibgez10 Things You Should Know about Lewy Body DementiatibgezYourdailylamaMary Ward Is 106 Now & Here’s What She Looks Like TodayYourdailylamaWelcomEarth10 Best European River Cruises 2014WelcomEarthGadgetheoryLioness Sees Her Old Trainer, This Is Her ReactionGadgetheoryTrendscatchersWoman Had Not Idea How Her Amazon Delivery Went Missing. Then She Decided To Hide A CameraTrendscatchers “Concerns from other EU countries appear to have ended the LSE Deutsche Boerse merger. Escalating requests from countries and particularly France suggest concerns that Frankfurt would be too great a beneficiary from the Brexit fallout. This would be at the expense of France and Paris in particular who would expect to pick up significant trade from Brexit without the merger. “The merger would have subsequently allowed an orderly transfer of some markets towards Frankfurt. This, in turn, meant shareholders and boards of both companies would have an in-built hedge against any Brexit downside. No doubt in time the head office would also have migrated to Frankfurt in substance if not name. The merger would probably not have benefitted London as a financial centre as the merger would have been intent on moving trade to within the EU. “Now the LSE will be fighting to keep trade and markets in London. For Theresa May this is the second major stroke of luck in a week, following the Kraft Heinz withdrawal from the Unilever bid. If the LSE Deutsche Borse merger had progressed Theresa May would have been under some pressure for allowing the facilitation of trade migration to the EU.” – John Colley, professor of practice, Warwick Business School Monday 27 February 2017 11:16 am whatsapp “The new regulatory challenge could be insurmountable. On a side note, there are other important issues that would potentially block the $13 billion deal that LSE and Deutsche Börse are working on for the past year, such as the Britain exiting the EU, the potential divergence the Brexit could generate between Briton and German officials, as well as the loss of competition in the sector.” – Ipek Ozkardeskaya, senior market analyst, London Capital Group LSE-Deutsche Boerse merger thrown into chaos: Reactions from City analysts and Westminster 3. There is a long way to fall 2. This is not the end of the story Share 4. The merger would probably not have benefitted London read more

The trends the world’s top firms are cheering

The trends the world’s top firms are cheering Michael Sayers whatsapp AI, virtual reality and augmented reality may all change our world beyond recognition in the next few years, in the same way that social media and online connectivity have transformed consumer behaviour in recent years. In a benign macro-economic environment, with sustained or renewed growth in many of the world’s major economies, companies in all sectors will free up budget to avoid losing the technological arms race.Knowing the risksWhile our analysts are more bullish about the outlook for their sectors than in previous years, they do also warn of some material risks. Some risks are political; those have been attracting the most attention. But there are other factors to consider.Disappointing economic growth and demand, especially in China, could change the outlook for companies, while larger-than-expected oil supply growth or demand weakness could lead to renewed oil price falls, undermining corporate conditions for energy and related sectors. Lastly, a tighter monetary policy in response to inflation could hasten the turn of the economic cycle. Among the most striking findings are the swings in sentiment in the “old economy” sectors that did so poorly last year, particularly energy and materials. Almost all analysts of these sectors said key corporate indicators were deteriorating in 2016 but they are now optimistic for 2017. This optimism reflects the recovery last year in commodity prices, including oil, gas, iron ore, and copper, which has supported earnings growth, alongside continuing cost cutting.Our proprietary Global Aggregates data (based on the summation of our individual company forecasts) mirrors these findings: energy analysts expect a whopping 81 per cent rise in net income globally this year, after last year’s sharp contraction (-35 per cent), with further improvement in 2018 (+22 per cent).IT: The disruption winnerThe survey also found strong resilience and optimism in IT, despite huge disruptive forces, indicating that change creates both risks and opportunities. More than half of all our IT analysts think management confidence is strengthening, feeding through into rising capital expenditure (mostly on growth investments rather than maintenance), increasing returns on capital, and higher dividend payments this year.IT’s position is unique. It is the disruptor for all other sectors, but the sector itself is not disrupted by those other industries. To put it another way, there has yet to be a case of an Uber or Didi Chuxing being disrupted by a taxi firm.Almost without exception, our analysts see stable or rising IT spending across sectors and regions. This does not just create work for IT developers; Gartner estimates that for every $1 spent on digital innovation/“ideation”, companies will spend another $7 on deploying the solution. Firms like SAP, Oracle, Microsoft, Temenos, IBM, Accenture, Infosys, Capgemini and Cognizant all stand to benefit from these trends. Wednesday 15 March 2017 10:07 am More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Share whatsapp Corporate fundamentals are now seen to be improving – in all regions and sectors. After three years of deteriorating sentiment, our annual Analyst Survey, encompassing the views of 146 equity and fixed-income analysts, has found there’s much more confidence among the world’s largest companies.Demand growth is back, and we find signs of reflation, rather than disinflation. The largest improvements in our Global Sentiment Indicator are seen in the Eastern Europe, Middle East, Africa and Latin America region (EEMEA/Latam), and in China. In fact, the EEMEA/Latam score was the highest it’s been in our indicator’s four-year history, while China’s sentiment indicator recovered to a level last seen in 2014.An oil fuelled recovery by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeGame Of GlamMariah Carey’s Photos After Her Weight Loss Are A Bit Too MuchGame Of GlamReal Estate in Miami2021 Real Estate Prices in Miami Might Surprise YouReal Estate in MiamiHealthy FoodThe 14 Healthiest Vegetables on EarthHealthy FoodHabit TribeBeautiful Women Of The World, Who Are They Exactly?Habit Tribevirimi.com14 Efficient Arm Workouts To Build Might & Muscle – Virimivirimi.comYahoo SearchResearch Mortgage Refinance RatesYahoo SearchBob's HideoutSurrogate Found Out It Wasn’t a Baby She Is CarryingBob’s HideoutConsumer Reports Best Electric Cars | Sponsored ListingsScottsdale – unsold senior electric cars from 2020Consumer Reports Best Electric Cars | Sponsored ListingsOnline Dating | Search AdsGorgeous Single Ladies (Near You)Online Dating | Search Ads read more

Despite what Trump says, trade deficits don’t actually have to be a problem

Do trade deficits matter?President Donald Trump certainly thinks they do. Since his campaign, he has tweeted frequently about his unhappiness with America’s trade deficit, and last week he announced tariffs on imported steel and aluminium. Share Linda Yueh Wednesday 14 March 2018 10:37 am But the more important factors that determine a country’s trade position are not tariffs, but what it produces. This was understood in David Ricardo’s day, when Britain repealed the Corn Laws in the nineteenth century, which were a protectionist measure favoured by landowners that raised the cost of imported grain.Ricardo is known as the father of international trade, and his model demonstrated that a country’s comparative advantage determined what it produced, and thus traded.If a country produced goods that were highly demanded by consumers everywhere, it would sell that good abroad. To improve the trade balance, a country should focus on how to increase productivity and production of highly demanded goods and services. Because of specialisation, a country would produce less of other products and import those while focusing on what it was good at.Looking at America today, its long-standing trade deficit is due to a number of factors. Given that the US economy is largely based on services, the lack of liberalisation of the global market for services in contrast to manufacturing has hindered its exports. The US is still the largest exporter of services in the world, and tends to run a surplus in this sector. Remedying the overall deficit would entail promoting the liberalisation of service sectors in markets around the world, which was a part of the abandoned US-EU free trade agreement, TTIP.Once investment flows are taken into account in the broadest measure of the external deficit, America still runs a current account deficit, but it is because foreign companies and investors put their money into the US. Since the dollar is the global reserve currency, there is high demand for US investments, debt, and assets. So, there are “imports” of investment funds, due to the attractiveness of the US economy. America’s trading position with the rest of the world thus reflects a range of economic considerations that explain why it has a long-standing current account deficit.Trade deficits only matter if they reflect an underlying weakness of an economy. For the US, that’s not likely to be the case, making the imposition of tariffs a questionable thing to do. whatsapp Trump once observed that the problem was that there were a lot of Mercedes-Benz in New York and not many Chevrolets in European cities. But is that due to unfair trade barriers which can be addressed through imposing tariffs, or to what consumers in America and Europe demand?Economists since the days of Adam Smith have pointed to the latter. Of course, trade barriers do exist, and the international trading system is not an entirely level playing field. But, on balance, a country’s trade position is a reflection of its economic strengths and weaknesses.Trump’s planned tariffs on all aluminium imports has led the very industry that is supposed to benefit to ask the President to think again. The Aluminium Association, representing 114 aluminium producers, has warned the tariff will likely do more harm than good. A tax will raise the cost of traded aluminium, hurting their industry and their supply chain partners in Europe and elsewhere.The same can be said be said for a lot of trade barriers. If one barrier distorts markets, adding another is likely to increase the distortions and harm the industry that it intends to protect.Instead, something more targeted could potentially work better, if the grievance can be established as falling within the rules of the World Trade Organisation (for example, national security issues or anti-dumping breaches). Despite what Trump says, trade deficits don’t actually have to be a problem whatsapp read more

Pensions dashboard: Why it would be crazy to ditch one of the most common sense ideas to come out of government

More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPuffer fish snaps a selfie with lucky divernypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com whatsapp Indeed, providing this service solely through the private sector without any backing from the government whatsoever is fraught with problems.As Royal London’s Helen Morrissey points out: “Government involvement would help to establish the project’s credibility among those users who may not have had much experience with the wider financial services community. It will also give people much needed comfort that their money and data will be safe.”Morrissey also points out that if the government backs out, there is a concern that fraudsters could step into the vacuum with their own offerings, putting people’s money at risk. whatsapp Katherine Denham Okay, well that never happened. But imagine for a second that we were to treat our misplaced pensions in the same way we treat lost phones.In the UK, billions of pounds of pension money is currently “lost” – not in a stock market crash or stolen through fraud, but instead misplaced and unclaimed. The reasons for this are multifaceted, and have plenty to do with inertia. But it’s also a problem that is set to get worse.The days of life-long jobs and gold-plated pensions are behind us; in fact, it’s estimated that the average UK worker will have around 11 jobs in their lifetime. Each job, of course, will have its own pension scheme with different providers, meaning many of us will have money effectively scattered across the industry, making it difficult to keep track.So what if we used technology to create a platform so that all of your various pension pots could be visible online in one central place?Funnily enough, that is exactly what the government has spent the past two years doing, designing a “pensions dashboard” so savers can see their workplace, personal, and state pensions simply by logging into one account. And yet, despite how sensible this sounds, and the money which has already been spent getting the project off the ground, there have been reports that the welfare secretary, Esther McVey, wants to ditch the pensions dashboard altogether.According to reports last week, McVey thinks the service could distract from the roll-out of universal credit, which is bogged down by its own issues. She has also reportedly suggested that the state should not be providing the dashboard service.The industry is baffled, and has strongly urged the government not to give up on the plan, with nearly 90,000 people signing a petition to save it. If the dashboard is sent to the scrapheap, it will be another example of the Tory party’s complete misalignment with the views and values of younger generations But scrapping the pensions dashboard just seems plain illogical from a pragmatic point of view too.Chris Knight, chief executive of Legal & General Retail Retirement, stresses that shelving the dashboard could undermine the success of auto-enrolment. “More than 9.6m workers are now saving through workplace pensions that are tied to their jobs. These workers will likely retire with three or more different pension pots from different employers.“Without a tool like the dashboard, it will be difficult for these individuals to understand what they’ve saved over the course of their working lives.”In fact, DWP’s own research suggests that 50m pension pots will be lost by 2050 without an official online hub like the pensions dashboard.Here is a simple idea that could finally get millions of people – particularly young folk – engaged with their savings. But, if the dashboard is indeed sent to the scrapheap, it will be another example of the Tory party’s complete misalignment with the views and values of younger generations.And given that technology is improving every corner of our lives, does it not make sense that the same should apply to our pensions?Admittedly, huge projects like this one are packed with complexities, and come with a price tag. But that doesn’t mean we should give up on it.Some things are definitely worth fighting for, and the pensions dashboard is one of them. The concept of a pensions dashboard is one of the few common sense ideas to come out of government in recent years. It’s also been one of those rare occasions where the industry widely agrees that this is a practical way forward (unlike, say, the launch of the Lifetime Isa which went down like a lead balloon). This makes U-turning on the dashboard seem even more absurd. Government involvement would help to establish the project’s credibility among those users who may not have had much experience with the wider financial services community   “What have you lost?” your colleague asks as you desperately retrace your steps.“My pension!” you cry. Share Pensions dashboard: Why it would be crazy to ditch one of the most common sense ideas to come out of government Of course, there are disagreements around the dashboard’s form – that is, whether we have a single government-led service, or multiple services developed by lots of individual providers, but which incorporate government data.Jon Greer, head of retirement policy at Old Mutual Wealth, says that the latter would provide financial support, but could create a regulatory headache for the Department for Work and Pensions (DWP), which might be cautious about policing lots of dashboards.You could also argue that multiple dashboards defeat the object of having just one centralised service. And while the single dashboard idea would be easier to regulate, Greer points out that the money needed for its creation and maintenance would either need to come from pension schemes, or the taxpayer.And yet, none of these problems justify scrapping the whole thing entirely.Less than half of people in the UK are saving enough for retirement, according to the Pensions Advisory Service. So even if the dashboard project is costly, it will be money well spent when you consider the positive impact it could have on an entire nation’s financial future. Wednesday 25 July 2018 9:25 am read more

Babcock shares rise as it stays on track to engineer revenue growth

first_img whatsapp whatsapp Tags: Trading Archive Babcock shares rise as it stays on track to engineer revenue growth Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoBetterBe20 Stunning Female AthletesBetterBeUndoCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndoBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushUndo The engineering services firm’s order book stands at around £18bn while the firm has £14bn in its pipeline of opportunities, it said in its trading update for the six months to the end of September.Around 87 per cent of revenue is now in place for 2018/19, the firm said, while 57 per cent of revenue for 2019/20 is in place.Shares rose nearly three per cent in early morning trading.Babcock said it would double down on the “sustainable growth” opportunities in its four sectors – marine, land, aviation and Cavendish nuclear – after realigning the business to focus on these in 2017.It has continued to pare down operations over the last few months, in July announcing its intention to exit some non-strategic, low-margin businesses in its land business. It’s also quit its presence in the North America mining and construction support industries, and has agreed the sale of its media services arm for around £30m, expecting that to complete in the coming months.These follow Babcock quitting the UK renewables and civil infrastructure spaces last year.It intends to exit its South Africa power lines business in the second half of the year, while it plans to “reshape” its oil and gas crew change business to improve performance.Babcock signed a five-year deal with the Ministry of Defence (MoD), while its energy business saw it sign seven new contracts to provide liquid gas equipment systems with international customers.The MoD will also hand it £120m for equipment maintenance as part of its defence support group contract, while it was named the preferred bidder for a £100m rail services contract in Northern Ireland. Joe Curtis It expects full-year revenue to grow in low single digits. Engineering services firm Babcock saw shares tick upwards on news it remains on track to deliver slightly higher revenue while cutting debt. Share Wednesday 19 September 2018 8:36 amlast_img read more

Theresa May emerges from Cabinet meeting insisting she will not agree a Brexit deal ‘at any cost’

first_imgTuesday 6 November 2018 2:42 pm Share Theresa May has emerged from a tense Cabinet meeting this morning insisting she will not agree to a Brexit deal “at any cost”, despite the clock ticking on reaching a Withdrawal Agreement.The Prime Minister’s spokesperson said ministers needed more time to consider possible mechanisms that will prevent the UK from being tied to the European Union through a backstop arrangement to prevent a hard border in Northern Ireland. More From Our Partners ‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Theresa May emerges from Cabinet meeting insisting she will not agree a Brexit deal ‘at any cost’ Alexandra Rogers May’s spokesperson told reporters that while 95 per cent of the Withdrawal Agreement had been concluded, there were a number of issues relating to the Northern Ireland backstop “that we still need to work through and these are the most difficult”.The Prime Minister discussed options with ministers that would ensure that the arrangement would be temporary after a number of Brexiters raised concerns that the backstop, used to avoid customs checks at the Northern Irish border, could tie it to the EU customs union in a betrayal of the Brexit vote.”This includes ensuring that if the backstop is ever needed it is not permanent, and there is a mechanism to ensure the UK could not be held in the arrangement indefinitely,” he said.”While the UK should aim to conclude the Withdrawal Agreement as soon as possible, this would not be done at any cost.”May’s spokesperson said it was likely that a further cabinet meeting would be held before a deal was agreed, hinting that this could happen later in the week.​ The EU’s chief negotiator Michel Barnier told Belgian broadcaster RTBF this morning that the two sides were not close to reaching a deal, while Taoiseach Leo Varadkar told May on Monday that he was ready to consider a review mechanism that would keep the border with Northern Ireland open after Brexit, but that he would not accept any arrangement that would allow the UK to withdraw from the customs union without the approval of Brussels. The Cabinet was reported to have discussed ways to break the deadlock that has dogged negotiations for several weeks. The focus of the meeting was the way in which the UK could leave the EU customs union. Many ministers have backed a mechanism that would allow the Britain to leave unilaterally, on its own accord, or by mutual agreement, in which it would have to have sealed the approval of the EU. whatsapp whatsapp Tags: Brexit People Theresa Maylast_img read more

Sterling falls as Theresa May receives her first ministerial resignation over her Brexit deal

first_img“We are a proud nation and it is a sad day when we are reduced to obeying rules made by other countries who have shown that they do not have our best interests at heart.”The pound came off its high of $1.305 after May announced the cabinet’s backing for her Brexit deal last night, falling as low as 1.297 in early morning market movements.More to follow. He told Theresa May: “We will be locked in a customs arrangement indefinitely, bound by rules determined by the EU over which we have no say.“Worse, we will not be able to leave the customs arrangement unilaterally if we wish to do so. Northern Ireland in the meantime will be subject to a different relationship with the EU from the rest of the UK.” “This agreement does not provide for the United Kingdom being a soveriegn, independent country leaving the shackles of the EU, however it is worded. Thursday 15 November 2018 8:19 am Sterling fell this morning after a minister announced his resignation over the Prime Minister’s Brexit deal, which won the backing of the cabinet last night.Shailesh Vara, a minister for Northern Ireland, informed Downing Street of his resignation this morning, saying the deal leaves the UK “in a half-way house with no time limit” on when it can fully leave the EU. whatsapp More From Our Partners Matt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPuffer fish snaps a selfie with lucky divernypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com Tags: Brexit People Theresa May whatsapp Share Sterling falls as Theresa May receives her first ministerial resignation over her Brexit deal Joe Curtis last_img read more

Workers feel they are in the dark on impact of Brexit, says survey

first_img whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoFinance Wealth PostTom Selleck’s Daughter Is Probably The Prettiest Woman To Ever ExistFinance Wealth PostUndoTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyUndoGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It LoveUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndo Workers feel they are in the dark on impact of Brexit, says survey Only a minority of UK employees have been kept informed about the ramifications of Brexit in the workplace, according to KPMG research.In a survey of 4,000 workers commissioned by the professional services firm, 38 per cent of employees said bosses had explained the implications of Brexit at work, while only 39 per cent said their employer was adequately prepared. Labour has said it will not vote for any deal the Prime Minister secures, while pro-Brexit MPs have sounded the alarm over the fact that the deal does not allow the UK to quit a temporary customs union with the bloc unilaterally.The news follows repeated warnings from UK companies that continued uncertainty over Brexit would put their businesses at risk. Yesterday, an IHS Markit survey found business morale was at its lowest since the aftermath of the financial crisis. Tuesday 20 November 2018 4:33 pm whatsapp The sector in which workers felt least prepared was healthcare, which averaged 33 per cent across both metrics. Professional services came out on top, scoring 48 per cent and 51 per cent respectively.James Stewart, head of Brexit at KPMG, called the lack of communication “worrying”, leaving workers “less well prepared to anticipate and back the changes that may be needed to position companies for growth”.Meanwhile, nearly half of EU nationals involved in the survey said their employer had not explained what Brexit might mean for their organisation, despite this group being a “particular flight risk”, according to Punam Birly, employment and immigration partner at KPMG.“Now is the time to be talking to all your workforce, dispelling myths and explaining the support on offer,” she said.Theresa May has secured a draft Brexit deal with the EU but faces an uphill battle to get it through parliament if EU member states approve it at a meeting this week. Alex Daniel Share More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Tags: Trading Archivelast_img read more

Campaign to oust Theresa May being coordinated from Iain Duncan Smith’s office

first_img Owen Bennett whatsapp whatsapp Campaign to oust Theresa May being coordinated from Iain Duncan Smith’s office The campaign to oust Theresa May is being coordinated from the office of former leader Iain Duncan Smith, it can be revealed by City A.M.A group of Brexiters determined to end May’s leadership gathered in the plush office in Parliament on Wednesday afternoon to discuss tactics ahead of the no confidence vote set to begin just hours later. Former Brexit minister Steve Baker – the shop steward of the European Research Group – was among those in the meeting, along with Duncan Smith’s old Maastricht rebel ally Sir Bernard Jenkin.Duncan Smith has repeatedly claimed he would not submit a letter of no confidence to trigger a vote as he was subject to such an action when he was leader in 2003 – although he has said it is “time for a change”.By holding the meetings in his office, Duncan Smith is now revealed as a key player in the plot to oust May from Downing Street.Other MPs in the meeting were Simon Clarke, Anne-Marie Trevelyan and Ross Thomson.Asked about the meeting, Sir Bernard said: “I can’t talk right now.” Wednesday 12 December 2018 4:01 pmcenter_img May will address her Conservative colleagues at a meeting in Parliament at 5pm on Wednesday, with voting on whether she should stay as leader beginning at 6pm.A Downing Street source revealed May is set to tell MPs the confidence vote is not about who will lead the party into the next election, but securing a deal that delivers on the Brexit vote in 2016.May needs to win a simple majority – 159 – to stay on as leader, and then cannot be challenged for year.If she loses, the starting gun will be fired on a leadership election which May will be unable to stand in.The results will be announced between 8-9pm on Wednesday evening. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryFinancial 10NHL Player’s Wife Is Hands Down The Most Beautiful Woman In The WorldFinancial 10Zen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableymoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.combonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.com Tags: Brexit Iain Duncan Smith People Theresa Maylast_img read more