GBP News 

British leader Boris Johnson presses ahead with Brexit

“But once the Brexit legislation has passed, negotiations between London and Brussels will begin on a new deal covering their economic and strategic relationship” writes The Associated Press for latimes.com. While the Conservatives are forging ahead with their policy platform, the defeated opposition Labor Party was licking its wounds and preparing to find a successor to leader Jeremy Corbyn, who has said he will relinquish the party leadership early next year. Source: latimes.com

Read More
GBP News 

Bid still on, insists Chinese firm Jingye

“Liberty House, the metals business owned by UK-based steel magnate Sanjeev Gupta, has long been interested in buying British Steel but has struggled to persuade the government of the wisdom of its plans” writes Rob Davies for theguardian.com. The deal has yet to be completed nearly seven months after British Steel collapsed into liquidation and more than a month after a sale was agreed in principle with Jingye.The Chinese firm poised to buy British Steel has denied the deal is in danger of collapse, amid concern that any further delay…

Read More
GBP News 

British Pound reaches 18 month high after Boris Johnson’s thumping victory

“Mr Corbyn’s manifesto included the re-nationalisation of many British industries, and a massive increase to the corporate tax rate” reports news.com.au. British investors and brokers gave an immediate endorsement to Boris Johnson’s majority with the biggest British companies adding 30 billion pounds to their value, and the Pound soaring to an 18 month high against the dollar. Source: news.com.au

Read More
GBP News 

‘F— off’: Piers Morgan rips British celebrities for complaining about conservative win

“Piers Morgan went after British celebrities for complaining about conservatives’ and Prime Minister Boris Johnson’s landslide victory in British elections” reports washingtonexaminer.com. Grant, in the run-up to the election, called conservatives “bad people” that need “to be stopped.”. In the lead up to the election, Coogan labeled conservative voters as “ignorant and ill-informed,” saying the party needed to keep their voters that way to win. Source: washingtonexaminer.com

Read More
GBP News Stocks 

European stocks gain after Conservative victory in U.K. election

“Stocks in Europe rallied on Friday on relief the Conservatives won the U.K. general election as well as anticipation a U.S.-China trade deal will be announced” writes European Markets Editor for marketwatch.com. Read: British stocks surge after Johnson’s Conservatives win majority The German DAX DAX, +0.50%   gained 0.54% to 13293.06 and the French CAC 40 PX1, +0.76%  rose 0.63% to 5921.16. Outside of the U.K. story, Delivery Hero DHER, +22.20%  shares jumped 22% after reaching a deal to buy South Korea’s online food delivery service Woowa for $4 billion. Source:…

Read More
GBP News Stocks 

British stocks surge after Johnson’s Conservatives win majority

“However, news that the U.S. and China are on the verge of signing a trade agreement boosted stocks worldwide” writes European Markets Editor for marketwatch.com. Investment managers, real estate investment trusts and home builders led the way as investors flocked to stocks more exposed to the domestic economy.Home builders and banks in the U.K. rallied on Friday in relief at a commanding Conservative victory in the general election. Source: marketwatch.com

Read More
GBP News 

British Home Builders And Banks Surge After Conservative Victory

“Investors poured into companies that generate most of their revenue in Britain on Friday, after the Conservatives secured an easy victory in the general election” writes Steve Goldstein for nasdaq.com. Investors poured into companies that generate most of their revenue in Britain on Friday after the Conservatives secured an easy victory in the general election.British home builders including Taylor Wimpey and banks including the Royal Bank of Scotland were among the winners, jumping by double-digit percentages. Source: nasdaq.com

Read More
GBP News 

Citi: British election result ‘probably as good as it gets’

“Equity strategists at Citi said the U.K. election result “is probably as good as it gets.”” writes European Markets Editor for marketwatch.com. The bank said the FTSE 250 MCX, +0.71% could rally even more than the FTSE 100 UKX, +0.79% given its higher exposure to the domestic economy.That said, the bank says it remains concerns about the implications of Brexit for the U.K. economy and is forecasting a mild recession in 2021. The bank also expects more debt-financed M&A and share buybacks as the U.K. cost of equity, at 8.2%,…

Read More
GBP News 

It’s not just Boris and Trump. British political parties are starting to look more American.

“The tectonic plates of British politics that have been shifting for some time could soon deliver an earthquake that turns old assumptions about British politics to dust” reports politico.com. As a result, British politics could feel a lot more American, echoing the cultural divisions and hyperpartisanship in the United States.Rather than debating left- and right-wing means to common goals, British politics seems to be entering a broader culture war.British politics is undergoing a profound transformation that is expected to be reflected in a redrawn electoral map once the votes are…

Read More
GBP News 

Country no longer makes running on world stage, says ex-No 10 adviser

“Britain has not made the running on any foreign policy issue since at least 2013 and suffers from a fundamental absence of strategic thinking about its role in the world, the most senior foreign policy adviser to David Cameron has said” writes Patrick Wintour for theguardian.com. He also said more girls in education was the key to unlocking some of the world’s greatest problems. Source: theguardian.com

Read More