Chancellor Philip Hammond will today reveal Britain’s new £1.9bn cyber security plans November 1, 2016 Chancellor Philip Hammond will today formally launch the UK's new cyber security strategy. Hammond will reveal the £1.9bn plans at a Microsoft conference in the Excel Centre in London's Docklands. He will promises that plans for defence, deterrence and fresh development would also represent a core part of the government's industrial strategy. Read More: More proof [...]
American election has been “downright embarrassing”, US secretary of state John Kerry tells Londoners October 31, 2016 US secretary of state John Kerry told London’s City Hall today that this year’s American election has been “downright embarrassing” at times. Kerry appeared alongside London mayor Sadiq Khan at an event to address young people from across the capital. Read more: Trump's just one point behind Clinton in the newest election poll Speaking just [...]
The best political reactions to Mark Carney’s decision to stay at the Bank of England to 2019 October 31, 2016 Mark Carney today revealed that he would remain as governor of the Bank of England until 2019, adding an extra year to his original plan of a five year stay. It means his tenure still falls short of the original offer of an eight year role, but still adds to Carney's long held plan to [...]
As he commits to stay until 2019, have political attacks on Mark Carney undermined the Bank of England’s independence? October 31, 2016 Kathleen Brooks, research director at City Index, says Yes. While the Bank of England’s decision-making has not been affected by recent political attacks, the fact that the government thinks that the Bank is fair game for criticism could undermine the perception of the Bank’s independence in future. Although it’s unlikely that it will take political [...]
Mark Carney to step down as governor of the Bank of England in 2019 October 31, 2016 Mark Carney, the governor of the Bank of England, has said he will stay in his role until 2019 to help secure an "orderly transition to the UK's new relationship with Europe". Carney, who was appointed to the role in 2012, was appointed for eight years, but made it clear he only intended to serve [...]
Spooky sterling: Pound spikes against the dollar October 31, 2016 The pound has jumped 0.2 per cent up against the US dollar as October trading revealed sterling's worst monthly performance since the June referendum. The pound leaped up by half a cent against the dollar to $1.2217 at around 16.00 GMT today, though the reason isn't certain. It's also up half a per cent against the euro, to €1.114. This was [...]
George Osborne earned a telling off for the launch of his Northern Powerhouse think tank October 31, 2016 Former chancellor George Osborne has received a ticking off from parliamentary authorities for failing to disclose his plans to chair a Northern Powerhouse think-tank. City A.M. exclusively revealed the plans last month, with Osborne formally launching the operating in mid-September. However, parliament's Advisory Committee on Business Appointments has now revealed that he did not disclose [...]
Here’s what Martin Sorrell thinks about Mark Carney, Philip Hammond and Brexiting Britain’s economic prospects October 31, 2016 WPP chief executive Sir Martin Sorrell has given his backing to Mark Carney, saying his departure from the Bank of England would be “disastrous”. Speaking to City A.M., Sorrell also expressed his support for chancellor Philip Hammond but said he was concerned over the suggestion of tension between him and the Prime Minister. Despite WPP [...]
London mayor Sadiq Khan has confirmed a four per cent increase in the capital’s living wage October 31, 2016 London mayor Sadiq Khan has confirmed that the capital's official living wage is to climb by 35p to £9.75 an hour. The decision means that the London Living Wage has now climbed by 17.5 per cent since 2011, with 60,000 employees benefiting from the scheme. A further 309 firms have signed up to be living [...]
Damian Green tells businesses to “assume nothing” over Nissan October 31, 2016 There's been increasing clamour for the government to show its hand on just what assurances were made to keep Nissan manufacturing in Sunderland. But when asked on whether the UK would remain in the customs union, Damian Green said on BBC Radio 4 that businesses should "assume nothing at the moment, because, I think a lot [...]