Fernando González Urbaneja | The new British Prime Minister is young (42), rich (almost a billion in assets), Hindu (family religion) and a graduate of Oxford and Stanford (Fulbright programme). He has been in Parliament for seven years and, after working for Goldman and several investment funds, he headed the Treasury (with Boris Johnson) before rising to become Minister of Finance. A dense professional career that is a credit to…
Fernando González Urbaneja | Brexit was about regaining control; that was the decisive message that led disoriented citizens to vote in favour of leaving the European Union. Six years later, what they have achieved, rather than regaining control, is to achieve “decontrol”. Three prime ministers in the course of 2022 is an unimaginable outcome for those who have studied and praised British democracy as an exemplary model based on good…
Franco Macchiavelli (Activotrade) | During Monday’s Asian session, sterling experienced a flash crash with percentage falls not seen since Brexit. In just 20 minutes, sterling plunged to near parity with the dollar at the 1.03 level (Asian session lows), levels not seen since 1985. In addition to the sharp fall in the currency, bonds also experienced intense moves, with jumps of 50 basis points (the largest daily jump in UK…
Brexit – the United Kingdom’s exit from the European Union – was the great political attraction of Boris Johnson’s era as British Prime Minister. However, its effects have been disastrous for international trade, especially for Spain. As the daily Expanión explains, Brexit, Boris Johnson’s great electoral claim, has taken away 18 billion euros in trade between the United Kingdom and Spain. In 2021, the first full year of Brexit, UK…
Adam Vettese (eToro) | In the UK on Monday, dividends were in the spotlight as £7.5bn of payments are due from banks including Barclays, HSBC, Lloyds and Royal Bank of Scotland over the next few weeks.
Nick Ottens via The Atlantic Sentinel | Brexit fundamentalists scored another victory on Wednesday, when the United Kingdom began the process of withdrawing from the European Union without a plan for what comes next.
The Chancellor’s latest Budget saw the cumulative forecast for government borrowing over the next five years revised up by close to GBP 40bn. This reflects both weaker cyclical growth and also the Office for Budget Responsibility (OBR) taking a gloomier view on UK trend productivity growth.
UBS | A date for referendum is set and the pound is getting pounded. The United Kingdom reached an agreement with the European Union and the UK announced that the referendum vote will take place on 23 June 2016.