A very British Brexit
MPs will have a say on when the government can trigger Article 50 of the Lisbon treaty, which will kick-start a two-year period for the UK to negotiate its exit terms. The landmark decision by the British Supreme Court saw eight of the 11 judges rule that Parliament had to be consulted before the article is triggered. Labour said it would not obstruct the Parliamentary bill that will now be needed, but there's scope for it and other parties to seek amendments to the bill. The devolved governments of Scotland, Wales and Northern Ireland do not need to be consulted, removing one potential obstacle for Prime Minister Theresa May.
Purse strings
Borrowing falls
The state of the country's finances will matter even more should the UK not get the Brexit deal it wants and so it is positive that debt levels have fallen. The government's public sector net borrowing, which excludes taxpayer-backed banks, fell to £6.42bn in December, down £0.4bn from the same month in 2015 and down from November's £12.2bn. Total government borrowing now stands at £63.8bn since April last year, down £10.2bn from the same period in 2015. This should help Chancellor Philip Hammond, who pledged to balance the books as soon as possible in the next Parliament.
Bloc's bounce
Confidence rising
Regardless of what you think of Europe as a political institution, it seems the eurozone's private sector is bucking any concerns about Brexit for now. Factory growth hit its best level since the continent's debt crisis, according to Markit IHS's purchasing managers' survey, which produced a reading of 54.3 in January. Any reading above 50 denotes expansion. Manufacturers had their best month since April 2011, helped by the weaker euro, rising new orders and optimism about future business. The 19-country area's economy is expected to grow 0.4 per cent in the first quarter of 2017.
Trump wager
Paddy Power knocked
There's plenty of talk in markets about the Trump trade, but there was an insight into the Trump punt from gambling company Paddy Power Betfair this week. The group suffered a £5m hit on bets it had to pay out on after Donald Trump beat his Democrat rival Hillary Clinton to the White House. The company also paid out $1m before the election result to punters who had backed Mrs Clinton, believing she would win. This compounded a tough final quarter for the company, which like its gambling rivals suffered at the hands of customer-friendly sports results.
Quick work
Trump's trouncing
President Trump wasted little time in his first full week in office before signing an executive order aimed at torpedoing the Trans-Pacific Partnership. The trade agreement had been a major project of former president Barack Obama aimed at securing trade with major Asian economies. The deal had excluded China, though. The move by Mr Trump suggests his pledge to also renegotiate the North American Free Trade Agreement with Canada and Mexico could become reality given the President's misgivings about its current set-up.
Big order
UK manufacturing
A bumper reading in the volume of domestic demand, taking it to a two-and-a-half-year high, has buttressed optimism among British manufacturers. A quarterly survey from the Confederation of British Industry (CBI) showed domestic orders rose at the fastest pace since July 2014 in the three months to January. Export orders continued to grow, but not by as much as had been expected, suggesting the fall in the pound is not having the full desired effect just yet. But businesses are upbeat about exports improving, even though the pound's fall will mean prices rising domestically.
The 'big seven'?
Scottish energy
The potential for a major government-owned energy company to launch and compete directly with the so-called 'big six' moved a step closer this week thanks to proposals by the Scottish government. It has suggested creating a taxpayer-owned energy company that could supply power on a not-for-profit basis as part of its energy strategy. Such a company could also issue renewable energy bonds, similar to those used to finance low-carbon schemes. Scotland wants half its energy required for heat, transport and electricity to be generated from renewable sources by 2030.
