Now “gallant George” Osborne has ridden to Charlotte Hogg’s defence March 14, 2017 Former chancellor George Osborne has taken time out from his newly-established portfolio career to wade into the debate about Charlotte Hogg, the now ex-Bank of England deputy governor for markets and banking. Hogg, who came under fierce criticism last week when it emerged that she had forgotten to add her banker brother's name to her official list of [...]
Banking pressure group, the British Bankers’ Association, plans to lobby the EU27, arguing a strong UK financial sector post-Brexit benefits everybody March 14, 2017 The UK's pressure group for the banking industry is pulling together plans to lobby the EU27 for a Brexit deal that will benefit all involved, just days before Prime Minister Theresa May is expected to pull the trigger on Article 50. The British Bankers' Association (BBA) has signed up an army of experts to draft plans to persuade [...]
Cheltenham Festival sets new alcohol restrictions after last year’s debauchery March 14, 2017 After last year's booze-fuelled escapades at Cheltenham Festival tarnished the lavish event, the racecourse has instated new rules in an attempt to limit how much customers drink. Racegoers are now barred from purchasing more than four alcoholic drinks at a time. However, complimentary water will be made available at each bar. In 2016, two footballers were fined after apparently urinating in a [...]
Storm Stella has hit airline share prices (including British Airways owner IAG) March 14, 2017 With Storm Stella blowing an icy blizzard on the East Coast of the United States, New Yorkers have battened down the hatches – along with airlines, which cancelled thousands of transatlantic flights today, hitting their share prices hard. On this side of the pond, International Airlines Group, the parent company of British Airways, Iberia and [...]
Private equity firm Privet Capital cuddles up with Care Bears maker Vivid Toy Group March 14, 2017 Private equity firm Privet Capital has snapped up a toymaker behind Care Bears, Thunderbirds and Moshi Monsters. Vivid Toy Group sells its products to major retailers across the UK, France, Benelux, Germany and the US, including in Tesco, Argos, Wal-Mart, Toys ‘R’ Us and Amazon. Headquartered in Guildford, the firm also has operations in Paris, Frankfurt and [...]
Developer behind 33 Central turns away from regional cities after Brexit March 14, 2017 HB Reavis, the developer behind Wells Fargo's European headquarters, has turned away from investing in the UK's regional cities due to the Brexit vote. Last July, HB Reavis' sale of 33 Central was widely-feted as a coup for London following the EU referendum, and while the developer is confident about the capital's prospects in the future, it [...]
Storm Stella: Dozens of British Airways and Virgin Atlantic flights from London to New York cancelled as snow envelops the US March 14, 2017 Dozens of London flights to and from the US have been cancelled after Storm Stella caused travel chaos in the north east of America. The US' National Weather Service issued blizzard warnings for parts of Pennsylvania, New York, New Jersey, Connecticut, Rhode Island, Massachusetts, Maine, Vermont and New Hampshire. According to live flight tracker FlightAware, 6,022 flights [...]
Marks and Spencer has shut down its Beijing branch as it heads out of China March 14, 2017 Marks and Spencer has pulled out of China, closing its prestigious Beijing branch earlier this month, the company confirmed. The retailer said it also closed two stores in February in the country and three more in January. Three remaining stores in Shanghai are scheduled to close by 1 April. Adam Colton, Marks & Spencer managing [...]
IMF “encouraged” by strong UK growth, Christine Lagarde says March 14, 2017 The UK’s growth in recent months has been “encouraging”, contributing towards healthier prospects for the world economy, according to the head of the International Monetary Fund (IMF). Christine Lagarde said the IMF is “especially encouraged by stronger-than-expected economic activity in the Euro area, the United Kingdom, and Japan.” The outperformance of the UK was one [...]
Federal Reserve meeting: What the experts expect Janet Yellen to do on US interest rates March 14, 2017 The Federal Reserve is almost universally expected to raise interest rates at its Wednesday meeting, in only the third rise since the financial crisis. Policymakers have laid the ground for a rate rise for markets. Janet Yellen, chair of the Federal Open Market Committee, recently said a hike would be "appropriate soon." The Federal Reserve [...]