Financial Conduct Authority clamps down on motor financing commissions October 15, 2019 The UK’s financial regulator is set to crackdown on motor financing commissions in an attempt to save drivers £165m a year. The Financial Conduct Authority (FCA) announced today it would ban how some auto dealers and brokers structure their sales commissions. Read more: Financial Conduct Authority sawn raids nearly doubled in 2018 The FCA said [...]
Garden Bridge Trust awarded £21m in contracts ‘prematurely’ and ‘recklessly’ October 15, 2019 Backers of the abandoned Garden Bridge awarded £21m in construction contracts before getting key land and building permits, according to a new report. The report, from the London Assembly’s Garden Bridge Working Group, details the “reckless” spending of the Garden Bridge Trust (GBT) and Transport for London (TfL) on the failed £53m project. Read more: [...]
First time buyer mortgages hit 12-year high October 15, 2019 The number of first time buyer mortgage completions in August soared to the highest level since before the financial crisis. There were 35,010 mortgage completions for new buyers – an increase of 0.7 per cent on August last year – reaching the highest level since 2007. Read more: Mortgage approvals grow despite Brexit uncertainty Andrew [...]
Extinction Rebellion defy police ban on London protests October 15, 2019 The co-founder of Extinction Rebellion has defied a police ban on the group by protesting on top of the Department for Transport (DfT). Dr Gail Bradbrook stood on a cherrypicker at the top of the department this morning, blocking the entrance. Read more: Police ban Extinction Rebellion protesters from London She used a hammer to [...]
Fees fall flat at Hays as uncertainty slows hiring October 15, 2019 Recruitment firm Hays reported flat net fees in the first quarter as Brexit uncertainty dampened hiring activity in the UK. The company said there was strong hiring in the US and China, however, Germany, the company’s largest market, reported flat net fees. Read more: Shares in Pagegroup tumble as it warns on profits for second [...]
Eleventh hour Brexit proposals to be tabled by UK October 15, 2019 UK negotiators are poised to table new proposals in a last-ditch bid to secure a Brexit deal. According to Irish broadcaster RTE, the latest set of proposals – which are being put forward after the supposed deadline for a deal has passed – follow a 90 minute meeting between Prime Minister Boris Johnson and DUP [...]
Sterling creeps back up as Brexit deal hopes return October 15, 2019 Sterling has risen against the dollar and euro this morning as investors regain some optimism over a possible Brexit deal. Prime Minister Boris Johnson was boosted yesterday when hardline Tory rebels signalled that they would be willing to vote for a Brexit agreement if it were brought before the Commons. This morning, the European Union [...]
Boris Johnson stays mum on Arcuri conflict of interest allegations October 14, 2019 The London Assembly said last night it would not publish the latest letter sent on behalf of Boris Johnson regarding potential conflicts of interest while he was mayor of London. The prime minister was forced to send a letter to the assembly’s oversight committee last week to clarify his relationship with businesswoman Jennifer Arcuri – [...]
Liberal Democrats mayor of London candidate wants to decriminalise cannabis October 14, 2019 City Hall will decriminalise cannabis in the capital under a Liberal Democrats mayor of London. Siobhan Benita, the Liberal Democrats candidate for next May’s mayoral election, said she would decriminalise the drug if elected by creating new guidelines for the Metropolitan Police. Read more: Liberal Democrats mayoral hopeful Siobhan Benita says ‘we can win this’ [...]
Climate activists target bankers during second week of protest October 14, 2019 Hundreds of climate protesters shut down traffic at the heart of the City today, accusing the financial sector of “bankrolling the environmental crisis”. Read more: Extinction Rebellion targets Blackrock in day of City protest Activists from protest movement Extinction Rebellion gathered in the rain at around 7am to begin a “day of disruption” that saw [...]