News

News | Published November 03 2019

The Weekly Review: Oct 28 - Nov 3

Every Sunday, we bring together the most important stories of the week from across a wide range of sectors.

Politics

The EU has agreed to extend the deadline to Article 50 until January 31 2020, according to a tweet from European Council president, Donald Tusk.

Boris Johnson has announced that if he is granted an election on December 12, he will endeavour to make his Brexit deal bill law.

The Labour party claims that government papers leaked by the Financial Times confirm its “worst fears” over plans to reduce workers’ rights after Brexit, when the UK will be free to deviate from EU rules and regulations under the new withdrawal agreement.

Boris Johnson will call for an early general election for a fourth time following his latest defeat in the House of Commons on Monday evening.

No.10 has been criticised for not releasing a report into potential Russian interference in both the 2016 EU referendum and the 2017 General Election.

Speaking at the launch of the Brexit Party’s election campaign, Nigel Farage has called on Boris Johnson to abandon his Brexit deal in return for Brexit Party candidates stepping aside at the upcoming election.

Antoinette Sandbach, the MP for Eddisbury and former member of the Conservative party, has joined the Liberal Democrats.

Economy

Banking giant HSBC is to undergo a restructure in some regional divisions after sub-par performance in areas of Europe and the US.

British Petroleum has reported a £269 million [$351 million] loss in the three months prior to the end of September, with its shares down three per cent in mid-morning trading on Tuesday.

The new Withdrawal Agreement will see the UK GDP decrease by 3.5 per cent in a decade, according to a study compiled by the National Institute of Economic and Social Research into how Brexit will impact the economy.

Retail

Some of Britain’s largest retailers have stockpiled to record levels ahead of the previous October 31 Article 50 deadline, according to the Confederation of British Industry lobby group.

Justin King, the former boss of Sainsbury’s, has stated that he believes VAT ought to be increased to 22 per cent in order to save the high street.

Manufacturing

US-Italian automotive firm Fiat Chrysler is in talks over a merger with PSA Group, the French corporate entity that holds the Peugeot car brand.

The proposed merger between Fiat Chrysler and French corporate entity PSA Group has sparked fears that Vauxhall, which operates under PSA’s control, could be prone to future restructuring.

Media

Social media platform Twitter has announced a worldwide ban on political advertising, with its CEO Jack Dorsey saying that its outreach for such messages is a right to be “earned, not bought”.

Focus

Following his question during PMQs last week, Chris Elmore, MP for Ogmore, expands on the growing issue of economic fraud and how this issue is linked to the government's decision to scrap TV licences for over-75s. 




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Authored by

George Salmon
Political Editor
@theparlreview
November 03 2019

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