The City helps fuel economic growth right across the country, so be wary of those who want to clip its wings October 28, 2018 One of the most pernicious elements of Labour's current economic platform is the idea that the City is entirely distinct from (and damaging to) the so-called real economy. Jeremy Corbyn and John McDonnell's stump speeches routinely contain attacks on predatory bankers, fat-cats and financial speculators. The labour leader also seems to have a personal vendetta against [...]
Politicians urge London Stock Exchange to cancel meeting with Saudis after Khashoggi killing October 28, 2018 Senior politicians have called on the London Stock Exchange Group (LSE) to cancel a planned meeting with Saudi officials amid the international fallout from the killing of journalist Jamal Khashoggi. Speaking to City A.M., shadow chancellor John McDonnell and Liberal Democrat leader Vince Cable both urged the LSE to scrap an “Investing in Saudi Arabia” [...]
Hammond: No-deal Brexit could scupper the end of austerity October 28, 2018 Philip Hammond has warned that austerity will only end if the government can negotiate a Brexit deal with the European Union. The chancellor said plans to increase public spending may be dropped if Britain leaves with no deal. He said that Office for Budget Responsibility projections, which the budget is based on, assume Britain will [...]
Sadiq Khan urged to ‘get a grip’ on London transport as government bails out Crossrail with £350m loan October 26, 2018 London mayor Sadiq Khan has been urged to “get a grip” of transport in the city after the government bailed out the delayed Crossrail project with a £350m loan today. Transport for London (TfL) said the money was needed to continue construction work on the delayed Elizabeth Line. In July, rail minister Jo Johnson announced [...]
Suspect arrested after pipe bombs addressed to Democratic senator and former intelligence chief intercepted October 26, 2018 A suspect has been arrested in connection with the pipe bomb campaign against prominent critics of US President Donald Trump. Federal authorities arrested a man in Florida, US officials say. The arrest comes hours after two further home made bombs addressed to former US intelligence head James Clapper and Democratic senator Cory Booker were intercepted [...]
Market falls: cause for alarm or calm? October 26, 2018 | City Talk Stock markets globally have been falling since the end of September. Economic worries including a potential trade war between the US and China, currency crises in Turkey and Argentina, debt problems in Italy and rising interest rates have seen stocks globally begin to fall from record highs. As the chart shows, since 31 August emerging [...]
RBS share price drops as it disappoints investors on key profitability metric October 26, 2018 Profits are up 10 per cent year-on-year at Royal Bank of Scotland (RBS), it said in its third quarter results today, though shares dipped as it missed a key target and set money aside to handle PPI claims. The figures The bank reported pre-tax profits of £961m for the quarter, up 10 per cent from [...]
The carbon tax cost my company millions – and I’m calling on the chancellor to raise it on Monday October 26, 2018 Normally in the week before a Budget, you would expect businesses like mine to be making last-minute pitches to the chancellor for less regulation and a cut in taxes. Yet here I am about to make a case in favour of the carbon tax – a tax which in the past cost my company millions [...]
Philip Hammond should be unashamed to show he is a true blue in the Budget October 25, 2018 With extra funding for the NHS and an end to austerity already announced, Philip Hammond must be wondering if it is him or John McDonnell delivering next week's Budget. While the cash boost for the health service is welcome, and the narrative of ending austerity popular with certain commentators, Hammond must use the Budget to [...]
WPP boss Mark Read: We’ve had a tough time for two years October 25, 2018 WPP chief executive Mark Read has said he is determined to improve the company’s performance to compete with its peers, as shares plunged on this morning’s quarterly results. The advertising business dropped as much as 22.5 per cent to 818 pence per share earlier today. Sales fell 1.5 per cent in the third quarter, following [...]