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Irish Said to Weigh Border Demand as Price for Brexit Progress

LONDON (Capital Markets in Africa) – Ireland’s government is considering pushing for guarantees that no border will be imposed on the island of Ireland as the price for allowing Brexit talks to move ahead, according to three people familiar with the matter. Irish authorities are keen to use their leverage in the first part of the negotiations to extract maximum concessions on the border issue, according to the people, who asked not to be named because the deliberations are ongoing….

Bank of England Governor Mark Carney Confirms Rate Hike Is Near

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LONDON (Capital Markets in Africa) – Mark Carney reaffirmed that the Bank of England is close to its first interest-rate increase in over a decade, as inflation hit 3 percent and one of his colleagues said the economy is approaching a “tipping point.” In a series of testimonies to lawmakers, the BOE governor and the two newest members of the rate-setting Monetary Policy Committee signalled that the erosion of economic slack is dominating their thinking as they prepare for…

`Cautious’ BOE Makes Gilt Slide a Buy for Macquarie Investment

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LONDON (Capital Markets in Africa) – The market’s pricing of two interest-rate hikes in coming months by the Bank of England is “a bit overdone” for Macquarie Investment Management and so it sees the recent fall in gilts as a buying opportunity. Markets are pricing in an 85 percent chance of a 25-basis-point rate increase for the next BOE meeting on Nov. 2, more than double the probability in early August after growing inflationary pressures in the U.K. and…

European Car Sales Drop as Brexit Concerns Hurt U.K. Demand

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LAGOS (Capital Markets in Africa) – European car sales fell in September for only the second monthly drop this year as concerns about Brexit among United Kingdom. consumers more than offset gains in France, Italy and Spain. Registrations declined 2 percent from a year earlier to 1.47 million vehicles, the Brussels-based European Automobile Manufacturers’ Association, or ACEA, said Tuesday in a statement. Figures were dragged down by a 9.3 slide in the U.K., the region’s second-biggest…

Barclays CEO Whistle-Blower Probe Is Said to Take Until December

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LAGOS (Capital Markets in Africa) – U.K. regulators probing Barclays Plc Chief Executive Officer Jes Staley’s attempts to unmask a whistle-blower will probably take until the end of the year to conclude their investigation, people with knowledge of the process said. The Financial Conduct Authority expects to reach a final decision on Staley’s fate in December, said the people, who asked not to be identified speaking about an open case. That would be two months later than the original October…

U.K. Is Said to See Brexit Breakdown Without EU Compromise

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LAGOS (Capital Markets in Africa) – Brexit negotiations are heading for a catastrophic breakdown unless the European Union signals this week that it will allow talks to move on to trade, according to a person familiar with the U.K. government’s position. Without a clear sign, that negotiations will progress to trade and transition arrangements by December at this week’s summit of EU leaders, the entire Brexit process will be in danger of collapse — and senior…

London’s Stock of Unsold Homes Under Construction at Record High

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LAGOS (Capital Markets in Africa) – The stockpile of unsold London homes under construction rose to a record as developers ramped up supply, despite a housing market that has been suppressed by higher taxes and economic uncertainty. The number of properties being built or completed that have yet to find a buyer rose to 12,952 units from 12,601 at the end of last year, according to a report by Molior London seen by Bloomberg News. That’s the…

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