French President François Hollande calls for a Eurozone parliament with a shared budget July 20, 2015 French President François Hollande wants to see a new parliament and a shared budget for Eurozone countries. Writing in Le Journal Du Dimanche, a French Sunday paper, Hollande said: Europe has let its institutions weaken and the 28 governments struggle to agree to move forward. [National] parliaments remain too far from decisions. And the peoples [...]
David Cameron sets out five-year plan to fight Islamic extremism in UK July 19, 2015 The Prime Minister will today call on Britain to fight the “subversive” doctrine of Islamist extremism and its “sick worldview”. In a keynote speech in Birmingham today, the Prime Minister will set out the principles he will adopt over the next five years to defeat extremism. Addressing the “struggle of our generation”, he [...]
Angela Merkel calls for action on Greek banking rules as lenders reopen July 19, 2015 Greek banks opened again today after a three-week closure, as European politicians try to restore trust inside and outside of Greece after it narrowly avoided bankruptcy with a last-minute financial reforms deal last week. German Chancellor Angela Merkel called for swift aid talks so that Athens can also lift withdrawal limits, which were previously set [...]
Barclays boss John McFarlane to join Treasury financial services board July 19, 2015 John McFarlane, executive chairman of Barclays, is set to join the Treasury’s Financial Services Trade and Investment Board (FSTIB) as an external member today. The FSTIB was set up to identify opportunities for growth across the UK financial sector. McFarlane, who has been nicknamed “Mack the Knife”, played a pivotal role in the recent high-profile [...]
George Osborne aims to curry favour in the Square Mile with Martin Wheatley dismissal July 19, 2015 As the chancellor who introduced the banking levy back in 2011, George Osborne is not as popular in the City as he could be. But last week it looked like he may be trying to work his way back into bankers’ good books. On Friday, Martin Wheatley, chief executive of the Financial Conduct Authority [...]
John Whittingdale is surprised by defensive BBC after green paper published July 19, 2015 Cukture secretary John Whittingdale said yesterday that he was surprised by the BBC’s defensive response towards a governmental review of its remit. Whittingdale published a green paper in the Commons last week, posing questions regarding the future of the BBC, which parliament will debate before the renewal of the network’s soon-to-expire Royal Charter. Following the [...]
James Dyson warns business secretary Sajid Javid on foreign students immigration policy July 19, 2015 Sir James Dyson is not happy with business secretary Sajid Javid. Javid last week insisted foreign students should leave after their studies, indicating a fresh push by the government to introduce new legislation cracking down on their right to work after graduating. Now the hugely respected entrepreneur has attacked the business secretary's stance saying that the [...]
David Cameron: “I want Britain to do more” fighting Isis in Syria and Iraq, PM tells NBC’s Meet the Press July 19, 2015 David Cameron has said he wants Britain to do more to help fight Isis in the Middle East and is committed to working with the US to destroy the caliphate in Iraq and Syria. Speaking to NBC News, the Prime Minister said there were discussions taking place in parliament about what more could be done. [...]
Bungles and blunders: From the life insurance scandal to confusion over HSBC, here are Financial Conduct Authority boss Martin Wheatley’s worst moments July 17, 2015 As Financial Conduct Authority (FCA) chief executive Martin Wheatley takes his final bow, many in the City will be celebrating – after all, this is the man who famously promised to “shoot first and ask questions later” when it came to regulating the finance sector. Read more: George Osborne ousts Wheatley from the FCA [...]
George Osborne ousts Martin Wheatley from FCA July 17, 2015 Martin Wheatley, the man who famously said he would "shoot first and ask questions later" as he launched the Financial Conduct Authority (FCA), has been ousted by chancellor George Osborne. Wheatley, who will leave on 12 September, jumped before he was pushed: City A.M understands he resigned after learning Osborne had decided not to [...]