Ivan Rogers: Brussels negotiators thinking “what business can they suck out of London” October 25, 2017 The government will struggle to stop EU officials trying to break up the City after Brexit, the UK’s former ambassador to Brussels has warned. Ivan Rogers, who resigned earlier this year, told the Treasury Select Committee that many EU negotiators are unwilling to maintain close links between London’s financial sector and businesses across the rest [...]
Agree transition deal by year end or risk financial stability, says LCH boss October 25, 2017 The government must secure a transition deal by the end of the year or risk financial instability, and London’s future as a global hub, the boss of the world’s largest clearing house has warned. Daniel Maguire, chief executive of London Stock Exchange’s LCH, told a House of Lords committee that he would like to see [...]
Government did not force Lloyds to buy HBOS, ex-finance chief Tim Tookey tells court October 25, 2017 The government did not force Lloyds TSB to buy HBOS at the height of the financial crisis, the High Court heard today, as the first former Lloyds executive gave evidence in a £550m legal case brought by shareholders. Tim Tookey, who served as group finance director of the bank, told the court: “We were not [...]
UK Brexit secretary David Davis says Parliament won’t vote on Brexit deal until after UK leaves EU October 25, 2017 Parliament will only vote to approve the Brexit deal after the UK has left the EU, Brexit secretary David Davis said today. He said the withdrawal settlement and a new trade agreement might be signed off at the same time, after the Brexit deadline. The Brexit secretary has been accused of trying to sideline Parliament’s [...]
Royal Mail boss Moya Greene to lead fresh talks in hope of breaking Christmas strike deadlock October 25, 2017 Royal Mail boss Moya Greene will lead talks with the firm’s main union in the hope of breaking the deadlock in a long-running industrial dispute that threatens a Christmas shutdown. The Communication Workers Union (CWU) and the postal giant have agreed on the appointment of a mediator to oversee seven weeks of talks. Professor Lynette [...]
Labour suspends MP for Sheffield Hallam Jared O’Mara October 25, 2017 Labour MP for Sheffield Hallam Jared O’Mara has been suspended from the party and the Whip has been withdrawn. The decision comes after the media reported mysogynist and homophobic comments O’Mara made online before he became an MP. Read more: Editor’s Notes: Work on a trade deal’s begun, even if the EU hasn’t noticed Women [...]
This is Einstein’s theory of happiness, which just sold for $1.5m October 25, 2017 Forget relativity: it turns out Albert Einstein’s thoughts on philosophy are just as revered as his workings on time and space – after one of this thoughts on the pursuit of a happy life sold at auction for more than $1.5m (£1.1m). Israeli auctioneer Winners said a three-line philosophy, handed to a messenger in Tokyo [...]
Don’t have a cow: UK’s dairy body wants post Brexit conti-moo-ity in Northern Ireland trade arrangements October 25, 2017 The UK’s dairy body has called for assurances that trade arrangements will continue smoothly post-Brexit – and warned that the price of cheese could rise by as much as a third. Trade group Dairy UK today released a report in which the border between Northern Ireland and the Republic was highlighted as a major issue [...]
UK economic growth picks up slightly in third quarter October 25, 2017 The UK’s economic growth picked up moderately in the third quarter as GDP increased by 0.4 per cent after the manufacturing sector returned to expansion. Britain’s manufacturers had recorded a weak second quarter, with output actually falling, but the sector returned to growth in the three months to September, expanding by one per cent, the [...]
Deposits jump boosts Metro Bank as profit surge ahead of new London branch openings for challenger in Liverpool Street and Clapham October 25, 2017 Metro Bank announced a 10 per cent rise in deposits during the third quarter as 79,000 new customers joined the challenger, with the bank’s leadership in a confident mood ahead of further expansions. The bank will open five new stores by the end of the year, including branches in Liverpool Street and Clapham, before opening [...]