Chancellor George Osborne has secured the backing of five investment banks as he seeks to protect the role of the City after Brexit July 7, 2016 George Osborne has secured the support of the leaders of five investment banks as the government seeks to protect the City following last month's Brexit vote. Osborne met with bosses from Standard Chartered, Goldman Sachs, Bank of America Merrill Lynch, Morgan Stanley International and JP Morgan earlier today. And now the bankers and Osborne have [...]
Home secretary Theresa May remains the favourite to replace David Cameron as MPs vote to select the final candidates for the Tory leadership July 7, 2016 Home secretary Theresa May remains the overwhelming favourite to succeed David Cameron as Tory MPs vote again on the contenders for the leadership. They are voting today to choose the final two candidates for Conservative leader, and therefore Prime Minister. The final two will be voted on by party members, with the Conservatives planning to [...]
Brexit fallout: How to survive ‘survival mode’ July 7, 2016 For a nation that prides itself on remaining calm, the past few months have brought a rollercoaster of emotion. Whether we voted for or against Brexit, many of us are still feeling bruised by the campaign and its immediate aftermath. And far from this unusual period being over, we now likely face two leadership contests and months or [...]
Ruth Davidson to back Theresa May for Conservative leader July 7, 2016 Scottish Conservatives leader Ruth Davidson is to back home secretary Theresa May in the leadership race, once there are two candidates left in the race, City A.M. understands. Davidson, who led the Tories to second place in the Scottish parliamentary elections in May, will back her irrespective of whom she ends up against, the Telegraph first [...]
One of the most likely contenders to launch a Labour leadership challenge has delayed a decision until after the weekend July 7, 2016 Labour's Owen Smith, long considered one of the most likely contenders to launch a leadership challenge on Jeremy Corbyn, has delayed a decision until after the weekend. Smith, the former shadow work and pensions secretary, has long been rumoured as a potential challenger to Jeremy Corbyn, alongside the former shadow business secretary Angela Eagle. Earlier this week, Eagle [...]
Energy minister Andrea Leadsom has vowed to banish pessimism as questions continue over her time in the City July 7, 2016 Supporters of energy minister Andrea Leadsom have staged a march on parliament after the energy minister promised to “banish the pessimists” on Brexit. Leadsom backers walked for half a mile between her speech at Millbank Tower and Houses of Parliament. Along the way, they chanted in support of the energy minister. https://twitter.com/jimwaterson/status/750979473277943808 https://twitter.com/MichaelPDeacon/status/750977498998079488 The march came [...]
Chilcot report: Prime Minister Tony Blair says he did not make commitment to US to go to war after “I will be with you, whatever” memo July 7, 2016 Former Prime Minister Tony Blair has said that he did not give any assurances to the US that he would go to war with them come what may, the day after the Chilcot report was released. In his first interview after the inquiry was published, Blair said that "no decision to go to war had been taken" after a [...]
Opponents lodge appeal against first fracking operation in the UK for five years July 7, 2016 Opponents of a move paving the way for the first fracking operation in the UK for five years have applied for a judicial review. It comes after North Yorkshire county council's planning committee voted 7-4 in favour of a bid by Third Energy to extract shale gas at a site near Kirby Misperton in May. Read more: We need [...]
Conservative leadership contest: Candidates to be whittled down to the final two July 7, 2016 The Conservative leadership contenders will be whittled down to two today after the final ballot of MPs. Theresa May continues to not only lead, but dominate, in support among Tory MPs, with Leadsom thought to be in second place. Michael Gove, who is widely considered to have betrayed Boris Johnson, is vying to make it through to the final stage, [...]
Asset managers close the gate on £15bn-£20bn funds July 7, 2016 Post-referendum reverberated through the City yesterday as several more property funds were forced to shut the gate on their investors, while the value of the pound languished below $1.30. Six companies’ funds, with an estimated value of £15bn to £20bn, have been frozen this week as fears over the consequences of the UK’s vote to leave [...]