Bank of England could cut interest rates if Brexit uncertainty persists, says MPC member September 27, 2019 The Bank of England may need to cut interest rates even if a no-deal Brexit is avoided, according to a member of the monetary policy committee (MPC), which sets the rates. Michael Saunders has said that the Bank may have to cut rates if the “slow puncture” effect on the economy from Brexit uncertainty persists. [...]
Workers in the City of London broke half a million in 2018 September 26, 2019 The number of workers employed in the City of London broke half a million last year, according to new data. Office of National Statistics data released today showed there were 507,000 workers in the City of London last year, up from 495,000 in 2017. Catherine Mcguinness, policy chair at the City of London Corporation, said: [...]
Tube drivers vow October disruption over ‘excessive’ track noise September 26, 2019 Tube drivers are set to launch industrial action in October over the noise levels of train tracks, saying they cause “distraction, discomfort, and anxiety” for drivers and passengers. The RMT union said 95 per cent of drivers voted in favour of taking action in a ballot covering the Jubilee, Central, Northern and Victoria Lines. Read [...]
DEBATE: Does the Hong Kong Exchange boss have any chance of winning over LSE shareholders? September 26, 2019 Does the Hong Kong Exchange boss have any chance of winning over LSE shareholders? YES, says Benedict Spence, a freelance writer. The Hong Kong Stock Exchange’s takeover attempt may not sit well with some elements of the city, nor with some in Westminster, but at a time of insecurity over the future of the nation’s [...]
Central Line: Commuters rescue man from Oxford Circus Tube tracks September 25, 2019 Oxford Circus Tube station was closed earlier this morning after heroic commuters rescued a man who had “collapsed” onto the tracks. Rush hour commuters suffered lengthy delays when the entire Central line was suspended as police dealt with the incident. Read more: Tube chaos for commuters as Victoria line suspended Transport for London (TfL) said [...]
UK weather forecast: Showers to batter Brits until Sunday after rainfall causes travel havoc September 25, 2019 UK faces days of downpours after almost a month’s worth of rain fell across Britain in just 12 hours. Some areas were drenched with above 50mm of rainfall yesterday, according to the Met Office. That was only around an inch off the total rainfall in September. Read more: ‘Torrential’ thunderstorms to shatter London heatwave The [...]
Stock exchanges at loggerheads: HKEX and LSE refuse to budge over £32bn takeover offer September 24, 2019 Top bosses of the Hong Kong and London stock exchanges appeared to be at loggerheads today as both sides remained hesitant to budge over a £32bn tie-up. In a passionate plea to investors, Hong Kong Exchange and Clearing (HKEX) chief executive Charles Li said that a merging of the two sides would “complete each other”. [...]
In a world of data and digitisation, the City continues to hold the winning cards September 24, 2019 At a time when the spotlight is on London’s future as a global hub for finance, new data showing that the capital has extended its lead in global FX and interest rate derivatives trading since 2016 was a clear vote of confidence in the City. This was backed up by the latest Global Financial Centres [...]
Greater London Authority writes to PM to demand answers over Arcuri relationship September 24, 2019 The Greater London Authority (GLA) has written to Prime Minister Boris Johnson to demand an explanation for the decision to award public funds to a friend while he was mayor of London. The Sunday Times said US tech entrepreneur Jennifer Arcuri – a friend of Johnson – had received thousands of pounds in sponsorship grants [...]
Boris Johnson denies impropriety in relationship with Jennifer Arcuri September 23, 2019 Prime Minister Boris Johnson today denied any impropriety in his dealings with a friend who received thousands of pounds in grants when he was mayor of London. The Sunday Times said US tech entrepreneur Jennifer Arcuri – a friend of Johnson – had received thousands of pounds in sponsorship grants and had received preferential treatment [...]