How are the markets looking this afternoon?
Connor Campbell, an analyst at SpreadEx, said: ‘Sterling managed to rise 0.3% against the dollar and 0.5% against the euro in a move that seems to see investors ignoring the bad atmosphere surrounding Theresa May’s Brexit deal, as it continues to make its journey towards the Parliamentary vote on December 11th.
‘After the close the Bank of England unveils its own Brexit deal assessment, alongside the latest bank stress tests, so that should give the currency plenty to chew over ahead of Thursday’s open.’
Britain comes seventh place in new global prosperity index
Authors of the 2018 Legatum Property Index said: ‘This year Britons have reported a greater level of social capital with increased civic participation, and more people reporting willingness to help others. Moderate gains in natural environment were also made.’
The UK was named the fourth best nation for business environment, behind the US, New Zealand and Canada,
Tiffany results suffer amid sluggish sales from the Chinese tourist market
Tiffany & Co missed estimates for third-quarter same-store sales after being hit by lower-than-expected spending by Chinese tourists at its US and Hong Kong stores.
Tiffany’s comparable-store sales, excluding the impact of currency changes, rose 3 per cent, while analysts had been expecting them to increase by over 5 per cent.
Official analysis suggests how Brexit could hamper Britain’s economy
The withdrawal could cut UK GDP by 3.9 per cent over 15 years and a no-deal Brexit could deliver a 9.3 per cent hit, according to new official analysis.
Airbus could unfreeze UK investment if Brexit deal passed
The UK boss of European plane manufacturer Airbus has said its investments in the UK could be unlocked if Theresa May’s deal with Brussels is passed.
Katherine Bennett said that the company has been in a ‘holding pattern’ with ‘nothing new’ invested in the UK over the past year.
Asked if this strategy is likely to continue during a transition period following the UK’s withdrawal from the EU, Ms Bennett replied: ‘What we said was that if there is a chaotic Brexit or no deal, that is why our investments were put on hold.
‘If the withdrawal agreement is successful in some form or another, then Airbus would consider continuing to invest as the company has done over many years.’
Action being taken on rip-off 118 call charges…at last
The telecoms regulator has acted on rip-off directory enquiries services by moving to cap the cost of calling 118 numbers after prices soared in recent years.
Ofcom will restrict 118 call charges to £3.65 per 90 seconds from April 1 after some providers were found to be charging nearly £20 for an average 90-second call.
The most popular service, 118 118, was found to be charging £11.23 for a 90-second call, according to Ofcom, with most people tending to still call the numbers they remember the best – even if there are cheaper services available.