Merge UK’s financial services regulators into one body, says Tory think tank August 8, 2022 The government should consider merging the UK’s several financial services regulators into one body post-Brexit, an influential Tory think tank has said. A new report from the centre-right Policy Exchange, which was founded by Michael Gove, today said “meeting the demands” of the multiple City regulators can be “a major barrier to innovation” for new [...]
KPMG restarts UK government contract bids August 8, 2022 KPMG has restarted competing for UK government contracts, after the Big Four accounting firm withdrew from public sector tenders last December, following a series of high-profile accounting scandals. The Big Four accountancy firm re-commenced bidding for UK public sector contracts in early-June, after it pulled out of competing for lucrative UK government contracts at the [...]
Thames Water stops short of hosepipe ban but urges customers to ‘use water wisely’ August 8, 2022 The UK's largest water provider has stopped short of announcing a hosepipe ban despite the sustained drought this summer.
Dominic Raab weighs up plans for further barriers to judicial reviews August 8, 2022 Justice secretary Dominic Raab is considering introducing new measures to make it harder to challenge government decisions via judicial reviews, leaked documents seen by the Guardian show. The plans could also see judges subject to new more stringent criteria in bringing forward cases, that could see courts banned from hearing cases in certain areas of [...]
Watch Rishi Sunak’s Brexit message as he is ridiculed on social over ‘worst campaign video ever created’ August 8, 2022 Rishi Sunak’s campaign is under fire this afternoon as the former chancellor is mocked online and accused of “pointless posturing” in a campaign video focused on shredding EU regulations which has been likened to a parody. The Tory leadership candidate vowed to use his first 100 days if elected prime minister to “review or repeal [...]
Newcastle and Manchester building societies launch exclusive talks for £5bn merger August 8, 2022 Newcastle Building Society said it is in exclusive talks with Manchester Building Society over potentially merging the two. The pair plan to “explore the possibility” of transferring Manchester’s business to Newcastle, but discussions are at an early stage, they said. “There can be no certainty that any merger will occur, nor as to the terms [...]
Jupiter Fund Management halves stake in e-commerce retailer THG August 8, 2022 Jupiter Fund Management has halved its stake in the e-commerce retailer THG. In an announcement published on the London Stock Exchange yesterday afternoon, the fund said it had reduced its holding from 8.94 per cent to 4.97 per cent. The fund manages shares in THG for BNP Paribas, Northern Trust and Citigroup. The Manchester-based retailer, [...]
Financials boost FTSE 100 as City leans into quiet summer period August 8, 2022 A rally among financial stocks boosted London markets today as the City leant into the quieter summer period. The capital’s premier FTSE 100 index climbed 0.57 per cent to 7,482.37 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, jumped 0.33 per cent to 20,118.44 [...]
M&C Saatchi shares dive as £310m takeover talks with Next Fifteen are pushed back August 8, 2022 M&C Saatchi and suitor Next Fifteen have postponed talks over the proposed £310 million deal for the advertising company. Shares in M&C Saatchi dipped as its possible acquisition by the media business hit another roadblock. In May, M&C Saatchi originally agreed to a takeover deal by Next Fifteen, but a month later said it no [...]
Khan-backed campaign to increase foreign investment into London launches August 8, 2022 A new campaign backed by Sadiq Khan to increase green foreign capital investment into London post-Brexit has today been launched. The £500,000 Opportunity London campaign – which has been partially funded by City Hall, the City of London Corporation and the 32 borough councils – aims to “showcase London as one of the very best [...]