Fintech boss Rajesh Agrawal named as deputy mayor for business and enterprise June 29, 2016 Fintech entrepreneur Rajesh Agrawal has been named as the new deputy mayor for business and enterprise. Agrawal, chief executive of Rational FX and online money transfer platform Xenday, was named to the position by London mayor Sadiq Khan earlier today. Khan has tasked Agrawal with protecting jobs and growth while trade negotiations with the European Union and other countries take place. Agrawal said: Having run my [...]
Brexit will cause carnage for UK fund managers June 29, 2016 Brexit would be “carnage” for UK fund managers, leaving them battling regulatory hurdles, experts have warned. London is a global hub for fund management, with an estimated $6.6trn of assets in the City invested by hundreds of fund groups. UK fund managers without a global footprint rely on regulation called the “Ucits passport” to do [...]
Work and pensions minister Stephen Crabb becomes the first official candidate for Conservative leadership June 29, 2016 Work and Pensions minister Stephen Crabb has put forward his bid to become the leader of the Conservative party – making him the first person to launch an official bid to become the UK's next Prime Minister. At a press conference today, Crabb said the UK faces a "challenge of mind-boggling complexity". Crabb has teamed [...]
Now even Thomas Piketty has quit as an adviser to Jeremy Corbyn June 29, 2016 Thomas Piketty, one the world's most famous left-wing economists and inequality campaigners, has left his position as an adviser to Labour leader Jeremy Corbyn. Piketty, who shot to worldwide fame in 2013 with his highly-cited, less-often-read treatise on inequality, "Capital in the Twenty-First Century", was a member of Corbyn's economic advisory council, but has stepped down and attacked [...]
Business secretary Sajid Javid looking for role of chancellor as he says “we’re all Brexiteers now” June 29, 2016 Business secretary Sajid Javid today confirmed that he is running on a joint ticket for the Tory leadership with work and pensions secretary Stephen Crabb and hopes to take on the role of chancellor if they are successful. Javid, who supported Remain in the build-up to the referendum, said that Crabb is the right candidate as [...]
Politicians must show some tactical nous June 29, 2016 Never will you feel more English than when, the day after a crashing defeat, you find yourself debating the state of the country’s footballers. It is a half-century long tradition in this part of the UK, one that we repeat, like clockwork, every two years – except on the occasions when our national team fails to [...]
Business leaders lash out at government’s lack of Brexit plans June 29, 2016 Business leaders and industry groups turned on the government yesterday over its apparent lack of contingency plans in the aftermath of the Brexit vote. Following a meeting hosted by business secretary Sajid Javid the director general of the CBI, Carolyn Fairbairn, warned that the government was a “long way” from having a clear plan for [...]
SNP meets City lobbyist as Edinburgh seeks London’s financial crown June 28, 2016 One of the City's top lobbyists is in talks with the SNP on making Edinburgh a financial services powerhouse after Scottish first minister Nicola Sturgeon pledged to secure access to the European single market. Cicero Group executive chairman Iain Anderson, whose clients include City heavyweights BlackRock, Rio Tinto and Barclays, met SNP deputy leader Stewart Hosie yesterday to [...]
Over 1,000 anti-Brexit protesters stage rally outside parliament June 28, 2016 Over 1,000 people turned up outside parliament today to protest against Britain's decision to leave the European Union. Many chanted "there's no plan" and held up signs condemning former London mayor and Leave champion Boris Johnson who is the bookies' favourite to be Britain's next Prime Minister. Last Friday, London voted to remain in the EU in the referendum while 52 [...]
Danny Blanchflower quits Labour’s economic advisory council June 28, 2016 Top economist Danny Blanchflower has resigned from Labour's economic advisory council. Announcing his resignation on Twitter, the former monetary policy committee member said he's winding up the review of the Bank of England too. In light of recent developments I have decided to resign from the Economic Advisory Council and wind up the review of the Bank [...]