Bank of England governor Mark Carney says he can’t see Xavier Rolet continuing as London Stock Exchange boss November 28, 2017 Bank of England governor Mark Carney today said he thinks it unlikely that Xavier Rolet will continue as chief executive of the London Stock Exchange (LSE) Group, in an implicit backing of the LSE board in its public battle against an activist investor. Hedge fund manager Sir Chris Hohn last week demanded the Bank step [...]
Bank of England stress tests: This is how the lenders HSBC, RBS, Barclays, Lloyds Bank, Standard Chartered reacted November 28, 2017 The Bank of England unveiled the results of its latest round of stress tests today, and presented a fairly upbeat outlook on the state of the market. Barclays and RBS were the only lenders to fall below the Bank’s systemic reference points, and in the main, the BoE said banks would incur losses of £50bn [...]
DEBATE: Is the UK remaining in the Customs Union the only answer to the Northern Ireland border question? November 28, 2017 Is the UK remaining in the Customs Union the only answer to the Northern Ireland border question? Alison McGovern, Labour MP for Wirral South and supporter of Open Britain, says YES. Northern Ireland has had no government since March because of a row over a green energy scheme. This gets almost no attention in the [...]
Investing in disruption: Is the US tech boom a bubble? November 28, 2017 It has been a fantastic year so far to be a technology investor. The Fang (Facebook, Amazon, Netflix, Google) stocks are leading again and are now up 33.6 per cent on average year to date. Add Tesla and Nvidia into the mix, and we have a group of businesses that capture the imagination of both [...]
Bricks or clicks? Rumours of the high street’s demise have been greatly exaggerated November 28, 2017 The way we shop may have changed markedly over time, but the nation’s appetite for shopping is as voracious as ever. This was shown, once again, in the frenzy around Black Friday and Cyber Monday, now important landmarks in the retail calendar. Early estimates suggest that spending exceeded £7bn. The fundamental shift has been driven [...]
London firms back Transport for London’s English tests for private hire drivers November 28, 2017 London businesses are in favour of a controversial planned English test that private hire drivers face, according to a new poll from the London Chamber of Commerce and Industry. Transport for London plans to bring in a English language test for private hire drivers, and wants all drivers to be able to prove their ability [...]
Ministers are “pulling wool over eyes of the people” by redacting Brexit impact assessment November 28, 2017 The government has been accused of “pulling the wool over the eyes” of the British public by failing to publish a complete version of its Brexit impact assessment. Brexit minister David Davis has written to the Brexit Committee to say 850 pages of detailed analysis on the impact of Brexit on the UK’s economy will [...]
London offices: City developments take a pause after bumper 2017 November 28, 2017 City office development fell sharply over the last six months, with the Square Mile pausing after 2017 saw the highest number of completions since the turn of the century. Development activity dropped by 11 per cent, with 7.3m square feet of office space currently under construction. Only eight new schemes, representing 804,000 square feet, started [...]
Bank of England chief economist Andy Haldane admits economics is an “instant turn-off” November 27, 2017 The Bank of England is determined to rid Britain of a “twin deficit” of understanding and trust in economics, chief economist Andy Haldane said today. Britain’s central bank said it was stepping up to help educate the country. Haldane said a better understanding of economics “would probably help many people when making everyday decisions, big [...]
Protectionism means UK export growth will slow next year despite weak pound says report November 27, 2017 The growth in British exports will slow next year as protectionist measures take their toll, in spite of a weaker pound boosting competitiveness, according to research published today. UK exports will increase by £20bn in 2018, slower than the £50bn predicted for 2017, according to forecasts from trade credit insurer Euler Hermes. The chemicals industry, [...]