Day: August 24, 2016

    Much has been made of the Brexit vote, with both Remain and Leave supporters jumping on resultant business dealings as a sign of things to come. James Moore provides his analysis Two months on from Britain’s EU referendum and economists are still assessing the damage from what has variously been described as an act of self harm a tragic split and the most stupid idea of the century. The initial panic that saw property funds shutting down and businesses wondering whether they’d have to shut up shop, is over. But it has become very clear that a decision of breathtaking recklessness and stupidity has cost UK companies billions if not trillions of pounds. And the price will continue to be paid for years to come. Here, then, is an overview of what we know so far and what we can...

    Jeremy Corbyn's team has insisted the Labour leader could not find an unreserved seat when he got on a train - amid a row with Virgin Trains. The rail company took issue with Mr Corbyn after he complained in a video he had to sit on the floor because of completely ram-packed carriages on a service between London and Newcastle. The politician was travelling on the three-hour Virgin Trains service on 11 August for a leadership hustings in Gateshead. A video then emerged which showed him sitting on the floor, reading a newspaper, and saying "this is a problem that many passengers face every day", before calling for public ownership of the railways. But Virgin Trains has released CCTV images which appear to show him and his team walking past several empty unreserved seats in c...

    Investors pulled £5.7 billion out of UK-based stock market funds, preferring to put their cash into safe havens due to concerns over Britain’s vote to leave the EU. Figures from data company Morningstar showed worries over the referendum results prompted investors to withdraw £5.7 billion from UK equity funds last month, while property funds suffered from a further outflow of £438 million. Investors had already pulled more than £3 billion out of all UK funds in June. Brexit: Three more property funds forced to suspend withdrawals The total outflow from UK-domiciled funds was nearly £5 billion, the heaviest level of redemption in three years. Some of the money might have been redeployed into assets seen less risky such as government bonds. By contrast, investors returned to...