France says City at risk post-Brexit

  • 26 April 2017
  • From the section Business
Canary Wharf, London Image copyright Getty Images

One of the most important sectors at the heart of the Brexit negotiations will be financial services.

As Mark Carney said, London is "effectively, the investment banker for Europe" and the City is the financial capital of the European Union.

Nearly 80% of foreign exchange trading and 30% of all bank lending in the EU flows through the UK.

How much that will change after Britain leaves the European Union is a matter of increasingly tense debate.

In the UK, very senior figures within the financial services sector argue that it is "nonsensical" to argue that after Brexit, large amounts of euro-denominated trading should move on to the continent.

Read full article France says City at risk post-Brexit

The sting in the borrowing figures

  • 25 April 2017
  • From the section Business
Piggy bank Image copyright PA

The state of the public finances has provided a window on the performance of the economy, and some amber lights are flashing.

First, the good news. Annual government borrowing is at its lowest level since 2008.

Read full article The sting in the borrowing figures

Hammond hints tax pledge may be dropped

  • 21 April 2017
  • From the section Business
Philip Hammond in Washington

The chancellor has given a major hint that he is no fan of the 2015 Tory manifesto pledge not to raise income tax, national insurance or VAT.

After the embarrassing U-turn on the attempt to raise taxes for the self-employed, Philip Hammond told me the government needed "flexibility" on taxes.

Read full article Hammond hints tax pledge may be dropped

Virgin Money chief: Dealing with depression made me stronger

  • 19 April 2017
  • From the section Business
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Media caption"I always thought depression was something a bit weak-minded"

The hardest challenge for many business leaders is how to deal with mental health, an issue that still makes many uncomfortable.

Even harder than that is when those mental health issues affect you.

Read full article Virgin Money chief: Dealing with depression made me stronger

Farewell to pay growth

  • 12 April 2017
  • From the section Business
Cash Image copyright Getty Images

Income growth - or lack of it - has been one of the defining economic and political issues of the last decade.

Average weekly earnings are still £26 below where they were at their peak in 2008.

Read full article Farewell to pay growth

Hotels, restaurants and tourism may face staff shortages

  • 30 March 2017
  • From the section Business
Cafe looking at St Paul's Cathedral Image copyright Reuters

The hospitality sector has warned it faces a shortfall of 60,000 workers a year if immigration from the European Union is too tightly controlled.

The British Hospitality Association (BHA) said that thousands of businesses are facing having to drastically reduce their dependence on EU workers.

Read full article Hotels, restaurants and tourism may face staff shortages

Brexit: May goes big on the economy and security

  • 29 March 2017
  • From the section Business
Theresa May in parliament with Phil Hammond, David Davies and Boris Johnson Image copyright AFP

Philip Hammond was very visibly sitting alongside Theresa May as the prime minister made her statement on Article 50.

And the push and pull between the UK's two most important addresses as Britain starts the process of leaving the European Union - No 10 and No 11 - was evident in every word of the statement and the following letter triggering our exit from the EU.

Read full article Brexit: May goes big on the economy and security

Qatar announces £5bn UK investment

  • 27 March 2017
  • From the section Business
London skyline Image copyright PA
Image caption Qatar's investments in the UK include the Shard skyscraper in London

One of the largest investors in the UK has committed £5bn of new money to invest in transport, property and digital technology.

The Middle Eastern state of Qatar said that it was optimistic about the future of the British economy.

Read full article Qatar announces £5bn UK investment

Is inflation all down to Brexit?

  • 21 March 2017
  • From the section Business
Theresa May, Prime Minister Image copyright Getty Images
Image caption Slowing real income growth could be a challenge for the Prime Minister

It was Harry S Truman who famously pleaded for a one handed economist, so tired was he of proponents of the dismal science saying "well, on the one hand, sir... but on the other..."

Sadly for the 33rd President of the United States, you would need a lot of hands to explain today's surprisingly rapid increase in inflation.

Read full article Is inflation all down to Brexit?

Faltering wage growth is becoming May’s headache

  • 15 March 2017
  • From the section Business
Commuters crossing London Bridge Image copyright Getty Images
Image caption Wage growth has declined sharply

When Peter Mandelson said the Labour Party was "intensely relaxed" about people becoming filthy rich (as long as they pay their taxes) he was saying something far more fundamental than he maybe realised.

Lord Mandelson made the comments in 1998, an era when income growth was 5.6% and inflation (the consumer prices index) was 1.4%.

Read full article Faltering wage growth is becoming May’s headache