Market Buzz
Thursday newspaper round-up: Austerity, Centrica, property spat, cheese
Theresa May raised the spectre of a Greek-style economic collapse if Britain fails to press ahead with tackling the deficit on Wednesday, as she was challenged repeatedly by Jeremy Corbyn over the public sector pay cap. With intense political pressure on the prime minister – including from her own cabinet colleagues – to ease the strain for cash-strapped public servants, including nurses and teachers, she warned MPs about the risks of loosening the purse strings.
Wednesday newspaper round-up: Shard, Lloyds, BoE
Seven rail companies, including Virgin Trains’ east and west coast franchises, have agreed to allow passengers to buy cheaper Advance tickets as close as 10 minutes before their journey starts. Following the lead taken by CrossCountry in January 2015 after a successful trial, seven more train companies have dropped punitive restrictions that in the past meant that customers could generally only buy cut-price Advance tickets up to midnight on the day before travel.
Tuesday newspaper round-up: Sub-prime, banking reform, Stagecoach, Facebook
Fears about a crisis in sub-prime lending grew yesterday after leading City analysts warned that borrowers have limited flexibility to handle the rising cost of living. Household budgets are under sustained pressure from falling real wages, Liberum told clients. The warning comes amid growing concerns over reckless lending, particularly in the car market. - The Times.
Monday newspaper round-up: Austerity, bonds, Brexit, Inmarsat
A cabinet split emerged last night after Michael Gove claimed taxes should not have to rise to pay for an end to austerity despite the Chancellor's warning that ordinary working people will foot bill. Faced with increasing calls to end the public sector pay cap and put more money into schools and hospitals Philip Hammond has cautioned that money will have to be raised to pay for the extra spending. - Telegraph.
Sunday newspaper round-up: London Fisheries Convention, Healthcare spending, Google
Fishing vessels from across Europe will no longer be allowed to operate close to the British coastline after the government decided to end a long-standing arrangement with the EU. Michael Gove, the new environment secretary, said withdrawing from the 53-year-old London Fisheries Convention would allow the UK to take the "historic step" of gaining tighter control over its fishing areas. The Irish government said today that Britain’s withdrawal from the convention was "unwelcome and unhelpful".