‘Wild West’ world of cryptocurrencies needs to be regulated, MPs warn Philip Hammond September 19, 2018 The "Wild West" world of cryptocurrencies needs to be independently regulated to protect customers and prevent money-laundering, a powerful group of MPs today demanded. A report from the Treasury Select Committee warns the current system of self-regulation is not fit for purpose, and adverts promoting digital currencies are often misleading. Among the problems facing cryptocurrency [...]
Mark Carney says Chequers-style Brexit could ‘bounce’ UK economy by £16bn September 15, 2018 Bank of England (BoE) governor Mark Carney has said the UK economy could enjoy a £16bn "bounce" if Britain negotiates a trade deal along the lines of Theresa May's Chequers proposal. Details have emerged from a leaked cabinet meeting in which the Bank of England boss revealed he thought May's plan, which seeks a free trade area [...]
Bank of England boss Mark Carney warns house prices could fall by a third in a no-deal Brexit September 13, 2018 The governor of the Bank of England Mark Carney said house prices could crash 35 per cent over three years in the event of a no-deal Brexit in a briefing to cabinet today. Carney said if the UK crashed out of the European Union without a deal, a sharp rise in mortgage rates could torpedo [...]
One Bartholomew Lane put on the market for £104m September 13, 2018 A major City building is being put up for sale for more than £100m today, City A.M. can reveal. One Bartholomew Lane, which is located opposite the Bank of England in the heart of the Square Mile, currently houeses South Korea’s sovereign wealth fund and the Agricultural Bank of China (one of China’s three largest [...]
Bank of England holds monetary policy unchanged amid “greater uncertainty”on Brexit September 13, 2018 The Bank of England today left monetary policy unchanged amid “greater uncertainty” in markets on the Brexit process and a worsening global trade outlook. The Bank's monetary policy committee (MPC) raised its main interest rate, bank rate, on 2 August, in only the second increase in the decade since the financial crisis began, but minutes [...]
Government to unveil new set of no deal Brexit papers today September 13, 2018 Brexit secretary Dominic Raab is poised to unveil a further 28 ‘technical notices’ advising the country how to prepare for a no deal scenario. The notices, due to be published this afternoon after a special "no deal" Cabinet meeting which Bank of England governor Mark Carney was seen joining, will offer detail on a number of critical [...]
Bank of England: Hold fire until there is Brexit certainty says the shadow MPC September 13, 2018 City economists are all but certain that the Bank of England will hold interest rates steady today, only six weeks after raising interest rates and with the Brexit endgame fast approaching. The Bank’s rate-setting monetary policy committee (MPC) will announce its latest decision at midday, with all eyes on any tweaks to guidance around the [...]
UK blockchain startup launches equity crowdfunding round July 12, 2018 | Sponsored For venture-minded investors who have yet to make any major forays into the tantalising yet potentially risky ICO world of blockchain and cryptocurrency, one equity investment opportunity live now on Crowdcube may prove to be a gateway. Introducing: the bank account based on blockchain BABB (Bank Account Based Blockchain) is a UK-based startup. It is building [...]
How the UK’s regulatory framework protects P2P investors December 7, 2017 | Sponsored The peer-to-peer (P2P) lending market was established in 2005, when Zopa became the first platform to connect individual lenders directly with borrowers. Since then, the market has evolved rapidly, as have the regulations underpinning investor protection – and this looks set to continue. In the UK, the sector has been overseen by the [...]
Bank of England governor Mark Carney readies for grilling from newly formed Treasury Select Committee September 8, 2015 Bank of England boss Mark Carney will be among the first witnesses to appear before the newly-formed Treasury Select Committee tomorrow. Carney and other policymakers from the Old Lady will be quizzed about financial stability and the economic outlook for the UK. Conservative MP and committee chair Andrew Tyrie has said he will ask questions [...]