Over 50 business leaders have called for an “urgent” decision on airport expansion almost exactly a year after an official report lent its support to a new Heathrow runway June 27, 2016 Over 50 business leaders have called on the government to urgently make a decision on expansion of capacity at London's airports, a year after an official report backed a new runway at Heathrow. Prior to last week's Brexit vote, reports had suggested that a decision could be made as soon as 7 July. However, following [...]
Shadow business secretary Angela Eagle set to quit as Corbyn faces leadership revolt June 26, 2016 Shadow business secretary Angela Eagle will be one of the next high profile members of Jeremy Corbyn's shadow cabinet to quit, City A.M. understands. In total, 11 members of the shadow cabinet have resigned while shadow foreign secretary Hilary Benn was sacked in the early hours of Sunday morning for allegedly encouraging ministers to resign. Senior Labour MPs [...]
George Osborne to break Brexit silence and try to reassure UK on economy June 26, 2016 George Osborne is to break his post-EU referendum silence on Monday morning. The chancellor will seek to provide reassurance about financial and economic stability following the UK’s vote for a Brexit. Read more: This is the end of Cameron and Osborne, says Danny Blanchflower Along with Prime Minister David Cameron, who announced his resignation on [...]
Labour leader Jeremy Corbyn says he is going nowhere after day of shadow cabinet resignations June 26, 2016 Jeremy Corbyn has said he is going nowhere after a day of resignations. Some 11 of the Labour leader’s shadow cabinet resigned throughout the day on Sunday, while foreign secretary Hilary Benn was dismissed on Saturday night. Corbyn has indicated he will not be resigning and said he would stand as a candidate again in any future leadership [...]
Sadiq Khan and the City of London corporation have promised to fight for the rights of City businesses to access customers in the EU June 26, 2016 The Mayor of London has vowed to fight for the City's access to Europe's single market, including vital rights estimated to be worth billions to UK-based institutions. Sadiq Khan last night told City A.M. the loss of passporting – the system that allows UK-regulated banks to operate across the European Union – would be “a disaster”. [...]
As he says he’ll be gone by October, was Prime Minister David Cameron right to resign? June 26, 2016 Alex Deane, a common councilman who sits on the Corporation of London’s Policy and Resources Committee, says Yes. The Prime Minister was right to resign. Leadership after defeat would have proven exceptionally difficult. The former Cabinet secretary, Lord Butler, was right to say of the PM before the referendum that his position “would be untenable if we [...]
City of London rules will lose “British voice” after Brexit, says Lord Jonathan Hill June 26, 2016 Rules governing the City of London will lose their “British voice” following Brexit, the UK’s outgoing EU commissioner has warned. Lord Jonathan Hill does not believe British banks and financial institutions will escape EU rules whatever the terms of Brexit and will have to fully adopt them if they want access to the single market. “Rulemaking [...]
BHS fiasco rumbles on as Goldman Sachs and The Pensions Regulator due to reappear in front of the committees next week June 26, 2016 The BHS saga starts a new chapter next week, with two more evidence hearings due to take place in parliament. On Tuesday afternoon, the Work and Pensions committee and Business, Innovation and Skills committee are set to hear from Alex Dellal, Allied Commercial Exporters, Paul Sutton, Lesley Titcomb, chief executive of The Pensions Regulator and Neville Kahn, managing partner, financial [...]
Welsh and Scottish first ministers clash over whether they should block Brexit June 26, 2016 The Welsh and Scottish first ministers have markedly different views over whether their parliaments should try to block the UK from leaving the European Union. Asked whether she would consider asking Holyrood not to back such a motion of legislative consent, Scotland's first minister Nicola Sturgeon replied "of course". "If the Scottish parliament was judging this on the basis of [...]
Nigel Farage questions whether Mark Carney should remain in his job as governor of the Bank of England June 26, 2016 Nigel Farage has questioned whether Mark Carney should be allowed to remain as governor of the Bank of England. The Ukip leader has accused Carney of not behaving in an "independent manner" during the run-up to the EU referendum. Read more: Farage calls for 23 June “independence day” bank holiday In the weeks leading up [...]