BoE deputy governor: London’s financial services firms could go to New York October 12, 2016 A top official at the Bank of England has warned New York could poach some of London's financial services firms if the UK does not secure a good Brexit deal. Jon Cunliffe, deputy governor with responsibility for financial stability, said while the threat from European financial hubs like Frankfurt, Paris or Amsterdam was unlikely to [...]
Sir Philip Green faces a fresh grilling when MPs debate BHS’ collapse next Thursday October 12, 2016 Sir Philip Green faces a fresh grilling from MPs when the House of Commons debates the collapse of BHS next Thursday. City A.M. understands the debate will focus on the BHS pension scheme and the damning report from MPs that labelled Sir Philip Green "the unacceptable face of capitalism". Read more: Sir Philip Green's Mediterranean superyacht renamed [...]
French President hits out at US policy to levy fines on European companies October 12, 2016 France's President Francois Hollande has accused the US of double standards in throwing multi-billion euro fines at European banks while complaining about European Commission investigations into US companies. Speaking to French magazine L'Obs he explained that this was a key reason why he could not support a European free trade deal with the US. Read more: Merkel, Renzi [...]
The government is facing cross party condemnation after Theresa May refused to guarantee MPs a vote on Brexit October 12, 2016 Theresa May's government has been hit with condemnation from MPs across political parties after the Prime Minister refused to guarantee a parliamentary vote on Brexit. Speaking at Prime Minister's Questions, May suggested that, despite a concession on today's debate to support proper scrutiny of Brexit talks, a vote in parliament remains unlikely. Noting opportunities for MPs [...]
David Cameron has revealed his first job since resigning as prime minister and an MP October 12, 2016 It's now been three and a half months since David Cameron resigned from his role as prime minister on the steps of Downing Street, hours after the pro-Brexit vote was announced. And after additionally resigning as an MP last month, the former PM has finally announced his first new role outside of parliament. Cameron will become chairman [...]
Bookies are offering the shortest ever odds on a Clinton presidency October 12, 2016 Bookmakers have slashed the odds of a Hillary Clinton triumph in next month's US presidential election. As Donald Trump continues to seek recovery from his 2005 comments on women, his odds have drifted despite an aggressive performance in the second debate between the pair earlier this week. Ladbrokes is now offering odds to 2/11 on [...]
Keir Starmer is leading more than 50 Labour MPs in demanding Liam Fox outlines plans for EU customs union membership October 12, 2016 More than 50 Labour MPs have signed a letter demanding International Trade secretary Liam Fox outline any rationale for taking the UK out of the EU's customs union. In speeches focusing on the importance of free trade, Fox has previously hinted that future customs union membership is unlikely. MPs are set to debate parliamentary scrutiny [...]
Now Theresa May agrees to ‘full and transparent’ Brexit debate as Labour lines up 170 questions October 12, 2016 Theresa May has made a move to quell any possible Tory rebellion over her Brexit strategy by assuring that Parliament will be able to scrutinise the plan before Article 50 is invoked. Demands have been bubbling for "a full and transparent" Commons debate and while May made the concession on Tuesday night, she has not [...]
Pound’s crash reflects poorly on Downing Street October 12, 2016 Former Bank of England governor Sir Mervyn King spoke out on Monday regarding the previous week’s so-called flash crash in the value of the pound. “The whole thing has generated reactions which are over the top,” King said. Just 24 hours later and sterling was, last night, printing figures below $1.21 as foreign exchange traders in [...]
Chris Grayling has revealed a £70m fund for compensation and road safety projects along the route of HS2 October 12, 2016 Transport secretary Chris Grayling has revealed £70m of funding for communities along the route of HS2 between London and the Midlands. The funding will be used to improve access to nearby countryside, and conserve the natural environment along the route, as well as supporting local economies disrupted by construction. £40m of the total fund will [...]