Labour leadership contest: Three reasons why Jeremy Corbyn could be the City’s new best friend August 4, 2015 Jeremy Corbyn is rumoured to be leading in the Labour Party’s leadership election. Without doubt he is setting the pace. The result is that words like ‘hard left’ are being bandied about, especially by his opponent’s camps. But is he bad news for the City? As the author of some of the economic policies [...]
George Osborne starts £2bn Royal Bank of Scotland sell-off August 4, 2015 Chancellor George Osborne has kick started the government's first sale of shares in Royal Bank of Scotland (RBS) today, a sale likely to raise £2bn for the government. UK Financial Investments (UKFI), the agency which holds the government's 79 per cent stake in RBS, announced its intention to sell about 600m shares, representing 5.2 per [...]
Osborne starts to offload RBS with £2bn sale August 4, 2015 MINISTERS last night fired the starting gun on returning Royal Bank of Scotland (RBS) to private hands, offloading a £2bn stake in the bank seven years after it was rescued by taxpayers. The government is selling a 5.2 per cent of the high street lender, equivalent to 600m shares, to take its interests down to [...]
Jeremy Corbyn loses lead in betting odds as Corbynomics comes under fire from Labour MPs August 4, 2015 Left-wing Labour leadership candidate Jeremy Corbyn has lost his lead in the betting markets amid attacks from senior members of his own party. Bookies from Ladbrokes, William Hill and Betfair all told City A.M. that Corbyn had dropped out of pole position yesterday, leaving Andy Burnham as the odds-on favourite to replace Ed Miliband. [...]
Tom Hayes receives 14 year jail term in Libor-fixing scandal as MPs call for bank bosses to face prosecution August 4, 2015 A jury sent shockwaves through the City yesterday when it convicted former UBS and Citigroup trader Tom Hayes of eight counts of conspiracy to defraud in connection with the Libor-fixing scandal. Justice Jeremy Cooke sentenced the 35-year-old former City worker to 14 years in jail for his part in the manipulation of the Libor [...]
President Barack Obama antagonises Republicans as he unveils ambitious clean power plan August 3, 2015 Framing climate change as one of the most pressing challenge the world faces, President Barack Obama has unveiled what he called “the single most important step America has ever taken in the fight against global climate change.” The goal of the plan, which has been two years in the making, is to cut greenhouse gas [...]
Labour leadership race: Shadow chancellor Chris Leslie confirms he would not serve under Jeremy Corbyn August 3, 2015 The Labour party would “not be the party” the shadow chancellor Chris Leslie joined if Jeremy Corbyn won the leadership. In an interview with the BBC, Leslie said Labour needed to find a “credible” alternative Prime Minister and that he would not service under Corbyn if he did win the leadership. Leslie is backing Yvette [...]
Tom Hayes Libor trial timeline key dates: Former trader accused on attempting to manipulate Libor rate August 3, 2015 Well, that's it: former UBS and Citibank trader Tom Hayes has been sentenced to 14 years in jail, after being found guilty on eight counts of conspiring to rig the Libor rate. During a nine-week trial, the prosecution painted Hayes as someone who acted in a "thoroughly dishonest and manipulative manner" to mastermind a web [...]
Ex-trader Tom Hayes sentenced to 14 years as he is found guilty on Libor charges August 3, 2015 Former City trader Tom Hayes was sentenced to 14 years in jail as he became the first person to be convicted over the Libor rate rigging scandal, after being found guilty on all eight counts of conspiring to defraud by a jury at Southwark Crown Court today. The jury had been out for a week, [...]
Donald Trump to run for US President in 2016, claims “I beat China all the time” August 3, 2015 Donald Trump is running to be the next president of the United States. The billionaire mogul announced his intention to win the republican nomination for the 2016 presidential election in a speech at Trump Tower. Read more: Jeb Bush joins US presidential race Trump told a congregation of supporters at his New York skyscraper: Our country [...]