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 [...]
Carney “absolutely” best man for the job says Downing St October 31, 2016 Theresa May has publicly backed the governor of the Bank of England, Mark Carney, saying he is "absolutely" the best man for the job. The prime minister's spokesperson told reporters today that May was "clear in her support" for Carney, and supported him staying in his post. "The PM would certainly be supportive [for him [...]
Post Office strike: 3600 walk out today as further action could cause Christmas post chaos October 31, 2016 Thousands of staff at Post Offices across the UK will walk out today as they strike over jobs, pensions and branch closures. The 24-hour strike will affect 118 of the Crown Post Offices, but 99 per cent of the 11,600 Post Offices will remain open. Up to 3,500 members of the Communication Workers Union and Unite [...]
The Houses of Parliament were evacuated because of a fire alarm October 31, 2016 So close to Guy Fawkes night, it's kind of apt… Hundreds of staff were evacuated from the Houses of Parliament due to a fire alert this morning. Westminster insiders tweeted pictures of staffers shivering in the cold morning after a fire alarm was triggered. However, they were allowed back into the building shortly before 11am, [...]
Controversial former Farage aide Raheem Kassam has withdrawn from Ukip’s leadership race October 31, 2016 The controversial former aide to Nigel Farage has withdrawn from Ukip's leadership race just hours before the final candidates are due to be confirmed. Raheem Kassam was one of the first candidates to enter the race to succeed the party's leader of just 18 days, Diane James. But he has today pulled out of the contest, complaining [...]