It’s official – Zac Goldsmith has stepped down as an MP over Heathrow October 25, 2016 Zac Goldsmith Richmond Park MP and former Conservative London mayor candidate has formally stepped down as an MP over a government decision on runways. The Department for Transport finally came out in favour of a new runway at Heathrow earlier today, and Goldsmith's constituency party had already confirmed that the MP "intended" to resign. He has [...]
Mark Carney says political attacks on Bank of England knock the pound October 25, 2016 Mark Carney has warned that threats to the Bank of England’s independence could see sterling slump even further and cause investors to flee UK assets. The Threadneedle Street governor told Lords on the economic affairs committee this afternoon that central bank independence had “stood the test of time” and could not be “called into question” [...]
Britain’s tech sector is a world leader – and its future is brighter than ever October 25, 2016 Technology has transformed our lives, communities, cultural experiences and our economy. But the UK isn’t just a consumer of innovative technology, we’re a creator too. British industry has quickly become a key player in the tech world and this was plain to see during my visit to the technology cluster, Tech City, in East London. [...]
London’s fintech status to get a global boost with a government-backed showcase October 25, 2016 The best and brightest of London's fintech scene will be given centre stage by the government next spring, as the Treasury today revealed plans for an annual fintech conference. Set to launch next April, the exhibition will give UK fintech firms the chance to present their business to international investors. "Backing Britain's world leading financial services industry [...]
How Theresa May can achieve a truly radical housebuilding revolution October 25, 2016 Today, so many leaders are judged on how much they achieve in their first 100 days in office, a concept first associated with US President Franklin D Roosevelt. But as this milestone passes for Theresa May, what can we expect from the government when it comes to its promise of a radical approach to housing? [...]
US oil dips below $50 on output cut comments made by Russian envoy and dollar rally October 25, 2016 The price of US benchmark West Texas Intermediate (WTI) crude has fallen below the $50 mark this afternoon. A dollar rally and indications that Russia will not implement an oil production cut alongside Opec next month pushed WTI down 1.2 per cent to $49.92, while Brent crude was down 1.5 per cent to $50.70. WTI [...]
Paddington Cube development to boost local economy by £350m a year October 25, 2016 The redevelopment around the Paddington Cube building from developer Irvine Sellar is set to add £350m to the local economy each year. The £775m scheme will create 4,500 jobs in Paddington, according to analysis by Volterra Partners, which will increase the annual spend in the vicinity of the project by £5.8m. Read more: Developer Irvine [...]
The Heathrow expansion decision has made other UK airports antsy October 25, 2016 The government giving Heathrow expansion the green light has sparked demands from other UK airports. The likes of Gatwick, Birmingham and Stansted all have growth aspirations and have stressed the need for a new aviation policy that consults them so future decisions aren’t so drawn-out. Ken O’Toole, chief executive of Manchester Airport, noted that airports across [...]
Clydesdale tables bid for RBS’ Williams & Glyn outfit October 25, 2016 Clydesdale has put in a bid to snap up Royal Bank of Scotland's Williams & Glyn outfit. RBS has been told to divest of its interest in the brand and its 300-strong branch network by the end of 2017 to comply with the terms of its £45bn state bailout deal, but there have been several concerns, including [...]
Boris Johnson has made a whisky appointment in his search for a new adviser October 25, 2016 Foreign secretary Boris Johnson has found a new foreign affairs adviser in the ranks of the Scotch Whisky Association. SWA chief executive David Frost is leaving the trade body to join the Foreign and Commonwealth Office from 4 November. Frost will join the ranks of FCO spads after just over two and a half years representing [...]