After Jeremy Corbyn threatened to table a no confidence vote in the prime minister if she did not set a date for the Brexit vote, the Prime Minister set a date for the Brexit vote. Speaking to the Commons, Theresa May confirmed that debate over the bill would commence from 7 January 2019, with the vote taking place the following week. That does not leave long for contingency measures to be put in place should May’s bill do as expected and suffer a heavy defeat.
Asos issued an unexpected profit warning following a disappointing November. The downturn in the extremely popular online retailer suggests that the recent problems the high street has been facing have spread to online companies. The latest figures have been severely affected by weakening consumer confidence and shares in Asos fell by a whopping 41% in Monday morning trading. It is the lowest share price in the company since January 2015 and wiped £1.4 billion off the company’s market value.
There are no pieces of economic data scheduled for release today, but tomorrow we will see November’s inflation rate, as well as the CBI industrial trends orders for December. There will no doubt be further political fireworks as Brexit remains firmly in the limelight.
