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Brexit 101
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Created: by xplorer Attachments:47

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Brexit 101

  #331 (permalink)
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CobblersAwls View Post


On another note and relative to what I suggested last week, Osborne at least seems to be coming up with some plans to keep companies attracted to London and the UK https://next.ft.com/content/d5aedda0-412e-11e6-9b66-0712b3873ae1

I don't think slashing corporate tax rates was quite what the 'ordinary' Brexit voter expected to get out of leaving.

http://www.theguardian.com/politics/2016/jul/03/george-osborne-looks-at-corporation-tax-cut-to-attract-overseas-investors

I wonder who will end up covering the revenue short-fall.....

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  #332 (permalink)
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John Oliver on Brexit again

This is quite dated now, what with Johnson not running and Farage stepping down.

But it's a follow-up to John Oliver's Brexit bit ahead of the elections, posted earlier in this thread.


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  #333 (permalink)
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Ken Clarke caught discussing Tory 'fiasco'


He pretty much says what many figured.

UK Tory rifts caught on camera - BBC News

So... Brexit II anyone? I think the hard of thinking may need a mulligan.

Ok, below seems connected in my head somehow

Attached Thumbnails
Brexit 101-curry-stats.jpg  

Last edited by Rory; July 5th, 2016 at 06:20 PM.
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  #334 (permalink)
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xplorer View Post
I don't know if this is the first alarm bell of many or not, but I thought I'd post it here

Quoting
Investors in Standard Life’s property funds have been told that they cannot withdraw their money, after the firm acted to stop a rush of withdrawals following the UK’s decision to leave the EU.

The firm halted trading on its Standard Life Investments UK Real Estate Fund and associated funds at midday on Monday, citing “exceptional market circumstances” for the decision. It said the suspension would remain in place until it is “practicable” to lift it, and that it would review the decision at least every 28 days.

Article in The Guardian

From WSJ City Brexit Briefing
M&G Investments has become the third company to suspend trading in a real estate fund, following Aviva Investors and Standard Life Investments. M&G said in a statement Tuesday afternoon that investor redemptions in the M&G Portfolio and its feeder fund have risen markedly because of the high levels of uncertainty in the UK commercial property market since the outcome of the European Union referendum. It is rare for fund managers to impose such so-called gates on funds, although it became more of an issue after the financial crisis.

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  #335 (permalink)
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Bank of England warns Brexit risks beginning to crystallise

In a major report it states: "There is evidence that some risks have begun to crystallise. The current outlook for UK financial stability is challenging."

The Bank has eased special capital requirements for banks, potentially freeing up £150bn for lending.

Eight major banks have also agreed with George Osborne to provide more lending to households and businesses.

The chancellor signed a letter with Barclays, HSBC, Santander UK, Virgin Money, Metro Bank, RBS, Nationwide and Lloyds for the banks to make extra capital available in this "challenging time".


Full article on BBC News

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The Daily Shot's take .......

Today's edition has an update on Brexit related matters ......

The Daily Shot; July 6 - Global Macro Currents

Prediction is very difficult, especially about the future - Niels Bohr, Danish Physicist
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  #337 (permalink)
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Pound touches 31-year low

"The pound was trimming overnight losses in London after slumping below $1.28 during Asian trading, a level not seen since 1985.

At its weakest level of the day, sterling was down 1.7 per cent at $1.2796

Top tier government bond yields were at all-time lows, with the 10-year UK gilt below 0.75 per cent, while selling pressure on European equities was once more being led by weakening bank shares. The Euro Stoxx banks index fell to its lowest level since July 2012 as shares in Deutche Bank slid 6 per cent.

Gold rose to $1,375 an ounce, marking a new post-Brexit peak and the precious metals, its highest level since March 2014.

Attention remained firmly on the pound, after its latest slide was driven by a number of large UK asset managers halting retail investors from withdrawing money out of property funds."

Full article on the FT

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  #338 (permalink)
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xplorer View Post
"The pound was trimming overnight losses in London after slumping below $1.28 during Asian trading, a level not seen since 1985.

At its weakest level of the day, sterling was down 1.7 per cent at $1.2796

... will NOT stop here ...

GFIs1

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  #339 (permalink)
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Brexit : very unlikely imho

If I had not left the UK >15 years ago and had been able to vote, I would have voted Leave. Economic union YES, political union NO.

However, I do not think the UK is leaving the EU anytime soon.

In few words, a likely scenario :

Theresa May becomes PM, despite being in the Remain camp, albeit very low-profile.

She duly appoints a commission to study how the UK should prepare prior for triggering Article 50. There is of course no intention for this commission to reach a conclusion. Juncker's insistence in Brussels that the UK must immediately trigger Art 50 is completely ignored (as it should be).

Meanwhile, the UK leaves the ECHR (European Convention on Human Rights), participation in which - contrary to most people's belief - is not an obligation for EU members. This largely addresses one of the two pillars of the Leave campaign, "immigration". UK re-enacts its own human rights legislation.

While the "Art 50 commission" drags laboriously on, Madame May starts discussions with EU leaders, suggesting that with their support, she just might be able to keep the UK within the EU (subject to the major changes refused to Cameron last February). Led by Merkel, who desperately wants not to be left alone in bed with the French garlic eaters, favourable terms are agreed. This addresses the second pillar of the Leave campaign "unfair terms/too many rules from Brussels".

A vote to stay is held in the House of Commons and carried by a landslide majority.

The nation breathes a sigh of relief. The pound surges and beer on the Costa del Sol costs much less than during Summer 2016. Happy Ending.... kinda, sorta... everybody forgets about Brexit, even Nicola Sturgeon.


Last edited by jtrade; July 6th, 2016 at 11:13 AM. Reason: spelling
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Five of Top 10 UK Property Funds Now Closed to Trading

Henderson Global Investors and Columbia Threadneedle have become the latest fund managers to stop investors in UK property funds from pulling their money out after Britain voted to leave the European Union. That brings the total to Five of Top 10 UK Property Funds Now Closed to Trading. The other five largest funds investing in UK commercial property are managed by Kames Capital, Aberdeen Asset Management, Legal & General Investment Management, F&C and Royal London Asset Management.

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