Original Broadcast: Share Radio Afternoon
The Government's appeal over the triggering of Article 50 has drawn to a close. After week of closely-watched legal sparring, it is now up to the Supreme Court as to whether May can pull the UK out of the EU without parliamentary approval. Brexit is not the dish of the day over on the continent, however - European investors are instead tucking in to yesterday's policy decision from the European Central Bank. Draghi announced a trim to his quantitative easing programme, insisting the move isn't a taper à la the Fed's 2013 wind down. Back then, markets balked at the idea that the QE taps were being turned off. Are investors convinced this time is different? For this story and others shaping global markets today, Share Radio's Steve Clarke was joined in the studio by Jonathan Loynes, Chief Economist at Capital Economics.
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Original Broadcast: Share Radio Afternoon
The ECB has given a policy decision today: its quantitative easing (QE) programme will be scaled back from €80bn to €60bn a month. For some, this looks a lot like a taper - and, when the US embarked on such a policy in 2013, markets balked, interpreting the move as a harbinger of the end of ultra-loose monetary policy. Is QE being wound down? For this story and others shaping markets today, Share Radio's Ed Bowsher was joined in the studio by Tom Stevenson, Investment Director at Fidelity International.
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Original Broadcast: Share Radio Afternoon
The chairman of Sports Direct, Keith Hellawell, has slammed critics after unveiling a 57% fall in the retail giant's adjusted profits. Hellawell claimed that an '"extreme political, union and media campaign" had damaged Sports Direct's reputation. For more on this story, Share Radio's Ed Bowsher was joined on the line by Henry Croft, Research Analyst at Accendo Markets.
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Original Broadcast: Share Radio Afternoon
It's time for our catch up with MoneyWeek, previewing the best of the bets of this week's articles from the magazine. Joining Share Radio's Ed Bowsher today is Cris Heaton, Executive Editor of MoneyWeek, and they discuss the trends that will shape 2017, the best investment ideas of the year, the rising tide of protectionism, & more.
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Workers in the British Steel industry got some good news this week, after Tata Steel announced plans to continue production at the Port Talbot steelworks. Tata Steel's put forward plans to save thousands of jobs at plants across the UK. Workers will vote on the deal which will see the Indian firm invest in its British business instead of selling it. But workers will have to agree to pensions cuts.Chief executive Bimlendra Jha says that'll help rebalance a scheme which has 130,000 members, but just 10,000 still paying into it. To find out more about this, Share Radio's Ed Bowsher spoke to Dominic King, the Head of Policy and Representation at UK Steel, a trade body for the steel industry.
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Original Broadcast: Share Radio Afternoon
In a crucial Westminster vote yesterday, MPs backed the Government's Brexit timetable - with the caveat that Theresa May should publish her negotiating strategy before triggering Article 50. But not all MPs were onside: 89 voted against the government including 23 Labour MPs. One of those MPs was Ben Bradshaw, Labour MP for Exeter and former Culture Secretary.
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Original Broadcast: Share Radio Afternoon
This is My Portfolio with Lord Lee, our weekly look at investment decisions from the perspective of both the investor and the invested, side by side. As ever, our investor is weekly FT columnist Lord John Lee. He is also author of the book 'How to Make a Million Slowly: My Guiding Principles from a Lifetime of Successful Investing'. This week, Lord Lee's invested is Glen Fawcett, Managing Director at Concurrent Technologies. He joined Lord Lee and Share Radio's Glen Goodman in the studio.
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Original Broadcast: Share Radio Afternoon
Tomorrow, voters go to the polls in Lincolnshire for the Sleaford and North Hykeham by-election. It came about due to the resignation of the Conservative MP Stephen Phillips, who was elected in 2015 with a 24,000 majority, so it may initially seem as though the seat will stay Tory. However, the constituency is very pro-Brexit, and as a result of slow Brexit negotiations, residents may stray away from their expected alliance. Share Radio's Glen Goodman spoke to John Curtice, Professor of Politics at the University of Strathclyde, for his thoughts on the by-election.
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Original Broadcast: Share Radio Afternoon
Share Radio's Glen Goodman was joined on the line by Chris Justham, Relationship Manager at Seven Investment Management, for the biggest news shaping markets today. To begin with, Theresa May has announced she will publish her Brexit negotiating strategy before she activates Article 50, the trigger for Britain's departure from the EU - Glen and Chris discuss whether she'll deliver. They also tackle news that HSBC, Credit Agricole and JP Morgan Chase have been fined more than £400 million for their alleged participation in a cartel to manipulate a key European interest rate. And who is Time's Person of the Year? Tune in to find out.
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The pharmaceutical giant Pfizer has been fined a record £84m for charging the NHS too much for an anti-epilepsy drug. Share Radio's Glen Goodman spoke with Angus Macculloch, Senior Lecturer of EU & UK Competition Law at Lancaster University for some clarification on the issue. Namely, how is it the Competitions and Markets Authority (CMA) determined Pfizer had been overcharging? Are public institutions like the NHS prone to being overcharged in this way?
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