Theresa May last night conceded that any delay to Brexit was “a matter of deep personal regret” as she used a live Downing Street address to pile pressure on MPs to back her unpopular deal. Speaking from Number 10, the Prime Minister said the public has “had enough” of the Brexit debate and wanted politicians to focus on other issues. Yesterday morning, May asked the EU to extend the Article 50 exit process to 30 June to give the UK more time to get a deal through parliament. Read more: City A.M.'s rate-setting committee vote to hold interest rates She vowed not to back a further delay, and in her statement from Downing Street urged MPs to back her deal at what would be the third time of asking. She said: “This delay is a matter of deep personal regret for me and of this I am absolutely sure you the public have had enough. You’re tired of the infighting, you’re tired of the political games and the arcane procedural rows, tired of MPs talking … [Read more...] about May tells public ‘I’m on your side’ as she calls for Brexit date extension
Oil rigs could soon be run on renewable energy and battery power under new plans to help the North Sea play its part in the energy transition. The industry’s regulator, the Oil and Gas Authority, is preparing to lead a new project to forge closer links between the oil producers and wind farm developers operating in UK waters. It claims that the project, which will run for a year, could help the transition to a low carbon economy, while extending the economic life of the North Sea. The argument is likely to raise eyebrows among green groups, which believe an end to fossil fuels is the most effective way to reduce Britain’s carbon footprint. RenewableUK declined to comment. The OGA’s plans include... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register … [Read more...] about Can wind-powered oil rigs really make the North Sea ‘green’?
Who’s on the move today? Orchard Street Investment Management Orchard Street Investment Management, the specialist commercial property investment manager, has appointed Dawn Marie La Monica head of compliance and risk. She will be responsible for ensuring compliance with the relevant regulations and laws impacting the firm, guiding the shape of corporate governance and culture, and advising on the firm’s compliance-related policies. Dawn’s appointment marks the second senior hire by Orchard Street this year. Dana Eisner joined in January in the newly created role of head of investor relations. Dawn joins the company from Cairn Capital, the credit asset management and debt advisory firm, where she worked for several years as the compliance officer. At Cairn Capital, she oversaw the enhancement and revision of the firm’s compliance infrastructure and performed risk assessments and gap analyses of its operations. Dawn worked for several years on Wall Street and is … [Read more...] about City Moves for 21 March – who’s switching jobs at Orchard Street, Dechert and Lloyds Bank?
Britain’s economic growth is due to slow in 2019 as political uncertainty bites, professional services giant PwC has said, making it the latest forecaster to predict sluggish growth for the country. Consumer spending growth is also predicted to slump to 1.4 per cent in 2019, from 1.9 per cent the year before, according to PwC’s latest UK economic outlook report, released today. Read more: UK economy rebounds in January after December slump UK GDP growth is likely to dip to 1.1 per cent in 2019 before rising to around 1.6 per cent in 2020, PwC said. The company follows the Bank of England, the Office for Budget Responsibility, the Organisation for Economic Co-operation and Development, and other organisations in predicting low growth for the UK. Consumers are likely to limit spending as stronger real wage growth is offset by concerns about the implications of Brexit, slower projected jobs growth, the prospect of a gradual rise in interest rates and subdued house price … [Read more...] about Report predicts sluggish UK growth and lower consumer spending
A Government attempt to reboot the UK car industry after a blizzard of bad news has stalled due to the turmoil in Westminster surrounding Brexit. Greg Clark, the Business Secretary, was set to appear at a ground-breaking ceremony of a new battery facility today but has cancelled as the Government becomes increasingly rudderless. Mr Clark was expected to attend the event at the site of the £80m UK Battery Industrialisation Centre near Coventry, in Britain’s automotive heartland. Part of the Industrial Strategy, UKBIC is intended to position Britain at the forefront of battery technology for the car sector. But the ceremony – and an expected announcement about investment into the car industry... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register … [Read more...] about Government plan for car sector hit by Brexit ‘mess’