RT / Theresa May is “hanging by a thread” and businesses should prepare for Jeremy Corbyn to become Prime Minister, a leading City firm has said. CME Group, an American company, added that Labour taking power would be a “nightmare scenario” for the pound. The financial market company, which has a major office in the City of London, issued the warnings as May tackles splits over Brexit negotiations and allegations of misconduct by top Tories. She has lost two Cabinet ministers within a month, and many believe Damian Green, the de facto deputy Prime Minister, will be next to fall.
CME’s executive director, Erik Norland, said since losing its parliamentary majority in June 2017, May’s Conservative Party has been “hanging by a thread, propped up by coalition partner, the Democratic Unionist Party of Northern Ireland,” according to The Telegraph. “Given the fragility of the current government, markets should probably be thinking carefully about the next Prime Minister and the potential impact on the UK economy and currency.”
He added: “The Labour Party has moved into a small but consistent polling lead since the June election. When new elections take place, they could easily produce a Labour majority or a hung parliament.”
The finance company’s warning, called ‘What to Expect from a Prime Minister Corbyn,’ is just one of many issued by FTSE 100 companies in recent months, it is understood.
CME Group is said to be increasingly concerned that the Labour leader’s socialist policies could wreak havoc on the economy. Around 150 firms will meet Labour frontbenchers this week to air their concerns, it is claimed.
Read more ‘You’re right – we are dangerous… to the few,’ Labour’s Jeremy Corbyn tells Morgan Stanley “Corbyn advocates increasing income taxes and authorising the Bank of England to directly finance infrastructure spending rather than buying bonds during quantitative easing and vastly expanding public spending,” Norland said. “In the event that the UK takes a ‘hard’ Brexit followed by a Labour victory, it could see Britain transform into a more socialist, centrally-controlled economy – just one that happens to be outside of the EU.
“This is the nightmare scenario for the pound. If events spiral beyond May’s control and the Brexit talks are further paralysed, this should intensify the downward pressure on the [pound] sterling.”
It comes after Morgan Stanley warned another election in the UK was highly probable because May would not win the kind of Brexit she wants. It also told investors that Corbyn would damage the valuation of UK companies by nationalizing key industries and ramping up taxes.
A report by the US bank’s European equity team said: “The UK is in the midst of a double whammy of uncertainty in the shape of Brexit and a fragile domestic political situation. Taken together, these two factors, which are interrelated to some degree, cast a long shadow over the policy backdrop and economic outlook of the UK. For the UK market, domestic politics may be perceived as a bigger risk than Brexit.”
CARACAS.- La espera terminó y los Rays de Tampa Bay, en teoría, reforzaron la posición que menos le estaba aportando a la ofensiva con el regreso del criollo Wilson Ramos a las mayores. ?Estamos felices por tener a Wilson Ramos con nosotros? , dijo Kevin Cash a MLB.com. ?Me imagino que probablemente tenía algunas inquietudes…
La compraventa de inmuebles como Torre Agbar, Xanadú y el Edificio España aumenta un 70% la inversión en el primer semestre hasta los 6.000 millones de euros. La inversión inmobiliaria vuelve a registrar cifras récord en el mercado español. A falta de apenas cuatro días del cierre del semestre, la compraventa de edificios y solares…
san fernando Prime Minister Dr Keith Rowley prayed with members of the Muslim community and distributed zakat (charity) to the needy as he celebrated Eid-ul-Fitr at two masjids in San Fernando yesterday. He attended the Eid services on an invitation from Minister of Local Government Kazim Hosein, who is also referred to as a…
gasparillo The mother of a disabled child was shot dead inside her apartment in Gasparillo yesterday. Ornella Philips, 28, was shot once in the chest. Her body was discovered lying in the living room around 10 a.m. The country’s murder toll now stands at 243. Her eight-year-old daughter, Kayla, has cerebral palsy and depends…
ISTANBUL (AP): Turkish police stopped activists for lesbian, gay, bisexual, trans and intersex rights from gathering in large numbers for an LGBT Pride event in Istanbul yesterday, but smaller groups made impromptu press statements, defying a ban imposed by the governor. Organisers of the 2017 Istanbul LGBTI+ Pride had vowed to march in central Taksim…
LONDON (AP): The list of high-rise apartment towers in Britain that have failed fire-safety tests grew to 60, officials said yesterday, revealing the mounting challenge the government faces in the aftermath of London’s Grenfell Tower fire tragedy. All of the buildings for which external cladding samples were so far submitted failed combustibility tests, Communities Secretary…
BAHAWALPUR (AP): Alerted by an announcement over a mosque’s loudspeaker that an overturned tanker truck had sprung a leak, scores of villagers raced to the scene with fuel containers yesterday to gather the oil. Then the wreck exploded, engulfing people in flames as they screamed in terror. At least 153 men, women and children were…
WASHINGTON (AP): Making a final push, United States President Donald Trump said he doesn’t think congressional Republicans are “that far off” on a health overhaul to replace “the dead carcass of Obamacare”. Expressing frustration, he complained about “the level of hostility” in government and wondered why both parties can’t work together on the Senate bill…
While reliving the horrors experienced by so many families after another spate of bizarre violence across the country last week, I couldn’t help but picture Tourism Minister Ed Bartlett’s rictus grin plastered on television screens while the elderly and even suckling babes were being gruesomely slaughtered inside their homes. While the rest of us were…
- 13 December, 2017 New Venezuelan oil minister: Gas for T&T by 2022*
- 13 December, 2017 Consider regulating bank fees*
- 13 December, 2017 Moody’s: Climate change threatens T&T’s credit profile*
- 13 December, 2017 Is Mr Lee-Chin’s offer disrespectful?*
- 13 December, 2017 Infant girl dies during shooting involving soldier
- 13 December, 2017 Annie Paul | Art and artifice
- 13 December, 2017 Renaissance returns with epic Christmas party
- 13 December, 2017 Heart Institute adding new wing, national network of heart stations
- 13 December, 2017 Aubyn Hill appointed EGC chief executive – Targets 2.3 per cent growth by next year
- 13 December, 2017 Plans being finalised to accommodate Christmas shopping and vending