News

Despite industry fears, Salmond says independence would be good for Scotch whisky

Scotch whisky is Scotland’s second biggest export, bringing in almost 7 billion US dollars a year. Over 40 bottles per second are shipped from the country each day.

Bank of England on the potential of Bitcoin and digital currencies

There are two articles in the bank of England’s Quarterly Bulletin 2014 Q£ that look at Bitcoin and the potential of digital currencies in the UK economy.

Investors offload pound as Scotland vote uncertainty grows

An increasing number of investors are reducing their holdings of sterling as Scotland prepares for the independence vote next Thursday, according to one of the world’s largest independent financial advisory organisations.

Donald Kohn – Remarks to the British Bankers Association Strategy Group

In remarks to the BBA on 10 September, published on Thursday, Don Kohn, external member of the Bank of England’s Financial Policy Committee, explains the role of the FPC and its approach to building resilience in the financial system and enhancing transparency in banking.

EU-Canada Trade Deal ‘A Threat To Democracy’

Campaigners urge British government to amend ‘secret agreement’ that would allow Canadian companies new powers over government decisions

£7.8 Billion in Construction Projects at Risk if Scotland says ‘Yes’

Over £7 billion of planned construction works could be in jeopardy if Scotland votes to leave the United Kingdom next Thursday.

Companies expect less than half their employees to buy an annuity

Annuity prices start to decline for smaller DC pension pots

On average UK businesses are predicting that just two-in-five (40%) employees will buy an annuity at retirement, once the Government’s new Defined Contribution (DC) pension changes come into effect.

Islamic State’s Ultimate Goal: Saudi Arabia’s Oil Wells

For the terrorist group known as the Islamic State, Syria and Iraq were a good place to start their campaign, but in order to survive and prosper it knew from the outset that it had no choice but to set its sights on the ultimate prize: the oil fields of Saudi Arabia.

You bet referendum could cost Cameron his job and delay general election

The Scottish Referendum could cost David Cameron his job as Tory leader, and also delay the General Election, believe bookmakers William Hill, who are now offering odds of 6/1 that Cameron will no longer be Tory leader when the Election takes place – and 6/1 that it will not take place at all until at least 2016.

Restaurant insolvencies take unexpected jump as costs rise and spending on eating out stalls

• Increasing energy and food prices hit struggling restaurants

• Flat lining consumer spending limits restaurants’ profitability

The number of restaurant insolvencies has jumped by 15% over the past 12 months to 747

TheCityUK welcomes appointment of Lord Hill to new EU Commission

TheCityUK has welcomed Lord Hill’s appointment as Commissioner for Financial Stability, Financial Services and Capital Markets Union in President-Elect Juncker’s new EU Commission.

CHART OF THE WEEK: Sterling Exchange Rate

Summary:

With the Scottish independence referendum due to take place next week, a poll released a few days ago suggesting that the “Yes” vote might actually win sparked panic, causing a fall in the value of the pound.