Banking supervisors still stuck on Basel III reforms, as key meeting on capital rules postponed January 3, 2017 A key meeting to sign off on impending changes to banking capital rules has been postponed, after it was revealed today that more time was needed to iron out the final details. The Group of Central Bank Governors and Heads of Supervision (GHOS), the organisation responsible for the oversight of the Basel Committee on Banking Supervision, had [...]
Britain’s ambassador to the EU has unexpectedly resigned January 3, 2017 Sir Ivan Rogers, Britain's ambassador, has unexpectedly resigned from his role, just months before negotiations with the EU were due to begin. Rogers was due to finish his fixed-term role in October, but has told staff this afternoon that he will step down earlier than expected. The news came as the government prepares to trigger Article 50 [...]
Shareholder advice group Pirc and Aberdeen Asset Management call for Sports Direct chairman to be axed January 3, 2017 Shareholder advice group Pirc has called on investors to drop Sports Direct's chairman in a vote on Thursday. Aberdeen Asset Management has also backed calls for chairman Keith Hellawell to go. Read more: Sports Direct chairman: I have dealt with killers, I can survive board heat Hellawell faces expulsion after the majority of the retailer's independent [...]
China’s manufacturers’ confidence sends PMI to almost four-year high, boosting Asian shares January 3, 2017 Confidence in China’s manufacturing sector rose sharply above expectations in December, with the widely followed purchasing managers’ index (PMI) reaching an almost four-year high. Stocks across Asia gained in response to the surprise increase. The Shanghai Stock Exchange Composite Index rose by 1.04 per cent on Tuesday, while the Hang Seng – a measure of [...]
Newspapers step up fight against “insane” new Section 40 law January 3, 2017 The newspaper industry is stepping up efforts to avert a new law, which has been condemned as “insane” by the editor of the Sun. What is going on? Next week, a government consultation on whether to implement Section 40 of the Crime and Courts Act will end. If passed, the new rules would mean that [...]
JP Morgan’s Dimon voices concerns on post-Brexit London, as Paris says it is wooing thousands of British bankers January 3, 2017 The boss of one of banking's best known names has hinted he is concerned about the fate of London as financial hub following the Brexit vote. Even before the UK headed to the polls in June, JP Morgan's Jamie Dimon warned that a Leave vote could leave the lender with "no choice" but to reorganise its business model, [...]
Farage: Brexit indecision is putting the UK on the back foot January 3, 2017 Former Ukip leader Nigel Farage has warned that a failure to rapidly move forward with Brexit will harm the UK, especially in the context of the collapse of Italian bank Monte Dei Paschi. Speaking this morning, Farage accused Prime Minister Theresa May of doing "nothing" on implementation since the summer vote. Read More: Monte dei Paschi shares [...]
This study says Uber-style ride-sharing and carpooling could dramatically reduce city traffic January 3, 2017 London's roads – and the millions of people who travel on them – have reached an unprecedented gridlock. Congestion is estimated to be costing businesses in the capital £237m every year, while Londoners are wasting a week each year, on average, stuck in traffic jams – not to mention the impact on people's health of high [...]
WhatsApp extends deadline by six months for stopping services on less popular devices January 3, 2017 Blackberry and Nokia phone users have been given a WhatsApp reprieve after previously been told the cross-platform app would stop working on phones at the end of 2016. In February last year, WhatsApp revealed plans to bin support for WhatsApp messenger on a number of devices and platforms that were either outdated or only a minority of [...]
Bat boxes and playgrounds are holding back property development, says industry group January 3, 2017 A property industry group has called for changes to the planning system because bat boxes and playgrounds are holding back house building in the UK. Housebuilders are forced to meet various conditions before building, called pre-commencement conditions, some of which are halting development unnecessarily, the Home Builders Federation (HBF) has said. Read more: These are the [...]