Vision news

Brexit extended: Is Europe playing trick or treat with the Pound?

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We now have confirmation of an Article 50 extension until 31st October – essentially meaning we have until Halloween, of all days, to work out a proper Brexit plan! You couldn’t make it up! Everyone has an opinion on Brexit, but what does it actually mean for you, your finances and your business? We asked the Halo Financial Team what they thought an extension to the Brexit process could mean for Sterling exchange rates, the currency markets, personal finance and for UK business.


 

Chinese import and export data both sweet and sour

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Early this morning, we were eagerly expecting the import and export data from China, forecast to show improvement over last month’s quite poor data. While exports have recovered, imports have fallen again, which is not great news for the economies so closely tied to the Chinese import-export relationship, such as Australia. However, a surprise jump in the Chinese Trade Balance surplus has kept the Australian Dollar on an even keel.

Spooky goings on with Brexit

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Spooky... Earlier this morning, the UK was given an extension to Brexit proceedings until 31st October. Voices from across the EU made it clear that extending for longer would have been more popular, while French President, Emmanuel Macron, was vocal about a shorter delay. In the end, they managed to reach a compromise.

Brexit swings and roundabouts

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UK Prime Minister, Theresa May, met with opposition (Labour) party leader, Jeremy Corbyn, to discuss cooperation on a route forward and agree “a programme of work”. The talks were described as “constructive”, but “inconclusive”. It did help boost the Pound, however, as some collaboration between parties, however tenuous, offers light at the end of the Brexit tunnel. How long this will last is another matter, however – the currency markets loathe uncertainty, which translates to volatility – and any slivers of hope can support Sterling as we head closer to the EU divorce date.
 

The Naked Truth: No-deal Brexit “nearly inevitable”

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For the second time in a week, UK Members of Parliament have again rejected all Brexit options under consideration – making a no deal-Brexit “nearly inevitable”.

Building Brexit Buffers - UK Manufacturing results highest for over a year

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Halo Financial, MHA MacIntyre Hudson and Irwin Mitchell comment on the latest manufacturing sector results, released today.

UK manufacturing has hit a 13-month-high for March, in stark contrast to the four-month low we saw in February 2019. Brexit remains the driving force in the industry, however, as the improvement in results comes from stockpiling to build safety stocks as a Brexit buffer. Record increases in inventories of finished goods and purchases have contributed to the March 2019 figure of 55.1.

Third time unlucky for Theresa May over Brexit vote

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MPs have again ruled out Theresa May’s Brexit deal – on the day the UK was supposed to leave the European Union. It was a case of third time unlucky, as MPs voted against the Prime Minister’s ‘blind Brexit’ withdrawal proposal by 344 votes to 286 - a majority of 58.

Theresa May seeks Brexit delay

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UK Prime Minister, Theresa May, is requesting an extension of Article 50 from 29th March to at least 30th June, 2019. But at what economic and political costs for Britain?

Fears that Brexit will spark EU worker exodus

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A new study has found that more than one million EU workers currently living in Britain see their future outside the country post-Brexit.

Brexit: One Year On

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On 23rd June, David Johnson, Halo Founding Director, joined the panel at the Brexit: One Year On seminar, hosted by our partners, MHA MacIntyre Hudson, in Bedford.