It's no deal Brexit for the City and day one sees €6bn of EU share dealing shift to the EU. From @staffordphilip
Philip Aldrick
13.1K posts
Philip Aldrick
@PhilAldrick
London
Joined November 2011
- Some personal job news. After 8 fantastic years at The Times, I’ll be joining Bloomberg in October to help shape their UK economic coverage. It’s going to be a wrench leaving such a great paper and so many wonderful colleagues. But also v excited about the challenges that await.
- This guy has nailed the problem of keeping a 2m radius in public spaces
00:00 - Amsterdam has not eclipsed the City. It has overtaken it in one narrow measure of EU equities trading. The City will remain Europe's financial capital. This is symbolic in the context of Brexit but not meaningfulThis is astonishing. Of course the economic significance of stock exchanges has always been exaggerated. But the idea that Amsterdam’s stock market would eclipse London never felt remotely plausible. Till we chose to leave the EU.
- This is why @afneil is the best interviewer around at the mo. It took three minutes but he eventually dragged a confession (of sorts) out of Boris"Why didn't you stand up for our man in Washington?" @afneil pushes Boris Johnson on whether his response to the Trump email row was a factor in Sir Kim Darroch's resignation Watch in full at 7pm on @BBCOne #BBCOurNextPM [tap to expand] bbc.in/32leUpY
00:00 - Markets are basically saying the UK can cope but Europe can't cope without us
- Carney says Brexit vote has lowered GDP by "up to 2pc" and lowered real incomes per household by £900 "which is a lot of money"
- Britain's deficit reduction since the financial crisis has largely been done by England, which is on track for a budget surplus this year for the first time since 2001/02. Devolved administrations still very heavy borrowers. From ONS data
- The Bank of England will not pay a dividend to the Treasury for the first time in living memory this year, after struggling to break even and its capital fell below a minimum threshold. thetimes.co.uk/article/ed84f1…
- Reeves is looking at moving the National Wealth Fund and GB Energy off the govt balance sheet in a move that could free up £15bn for additional investment. That would be on top of the £16bn she would get by changing the debt rule to PSND.
- Tomorrow's TSC hearing with Reeves and Bowler looks interesting. OBR just accused Treasury officials of breaking the law by hiding March budget shortfalls. Reeves said officials took her "into a room" to tell her after the election. She announced £22bn bloomberg.com/news/articles/…
- Thames Water has left Eton in the proverbial. David Cameron's old school has told pupils to stay home because the toilets are backed up. Thames Water can't clear the sewers, which ‘won’t cope with the arrival of nearly 1,350 boys’. From Kat Hidalgo
- Trade talks looking like they will get ugly. Brussels is prepared to fight dirty
- Big, bold move from Dominic Raab. Russians involved in Magnitsky death to face asset freezes and sanctions as UK puts human rights before realpolitik. Good for Raab. google.co.uk/amp/s/amp.ft.c…
