Dame Colette Bowe on her plans for the Banking Standards Board December 7, 2015 Sitting in a small office around the corner from the Bank of England, former Ofcom chair Dame Colette Bowe says that her new job barely resembles her earlier days as a regulator. “We’re very different from being a regulator,” Bowe tells City A.M. “Regulators have statutory duties, as well as statutory powers. Regulators can say: [...]
Bankers’ bonuses could drop by 10 per cent due to reduced number of IPOs December 7, 2015 Bankers are being warned that bonuses could plummet by almost 10 per cent as the annual salary-sweetener season kicks off, with zero-bonuses expected to make a comeback in 2016. Investment bankers working in mergers and acquisitions and in fixed income, currency and commodities (Ficc) are most at risk of seeing their bonuses slashed, according to [...]
Unions and businesses get together to urge government to act fast on Heathrow expansion plans December 6, 2015 Business groups and trade unions have teamed up to urge the government to act quickly over the proposed third runway at Heathrow airport. Unite, TUC, the British Chambers of Commerce, the Federation of Small Business and business group London First have co-signed a letter to David Cameron, urging him to approve the new runway. The [...]
Marine Le Pen’s far-right National Front party wins historic victory in French regional elections December 6, 2015 French far-right party the National Front (FN) made significant gains in the first round of regional elections today. The party secured 29.4 per cent of the vote nationally, and came first in six out of 13 regions. Marine Le Pen, leader of FN, said: “We're just in the first round, but we hope to have as [...]
Oldham West and Royton by-election 2015 result: Labour candidate Jim McMahon wins leaving Ukip’s John Bickley in second and Nigel Farage complaining of electoral fraud December 4, 2015 Labour candidate Jim McMahon won the Oldham West and Royton by-election last night with a majority of more than 10,000 votes. In Labour leader Jeremy Corbyn’s first electoral test since taking the reins of the party, McMahon took 62 per cent of the vote, leading Corbyn to hail the result as a “vote of confidence”. McMahon [...]
Venezuela’s socialists are staring at defeat ahead of this weekend’s election December 4, 2015 People in Venezuela were asked, earlier this year, to name any “very big problems” in their country. Eighty-four per cent cited a shortage of basic goods. Eighty-two per cent said crime. Three quarters referred to healthcare, which is little surprise given that Venezuela’s hospitals are in crisis. Even less surprising is the fact that, topping the [...]
EU plans to cut stock market red tape could be a lifeline for small businesses December 4, 2015 Smaller companies may find raising cash on the stock market easier if EU plans to cut its own red tape come into force – providing a lifeline for cash-strapped startups unable to access bank finance. Companies hoping to list and raise less than €500,000 (£362,000) through issuing shares or bonds will no longer have to [...]
Mario the Grinch ruins Santa rally: Draghi disappoints investors with ECB rates cut December 4, 2015 European stocks dropped and the pound sank against the euro yesterday after chief Eurozone rate-setter Mario Draghi disappointed investors who had banked on a bumper Christmas. After months of talking up extra stimulus, Draghi cut the interest rate paid on deposits kept at the European Central Bank (ECB) to minus 0.3 per cent compared with [...]
The UK’s financial services sector paid more than £66bn in taxes last year – PwC and City of London Corporation December 4, 2015 New figures out today show that the financial services sector contributed more than £66bn in taxes last year, amounting to 11 per cent of total government tax receipts. A new report from the City of London Corporation and PwC, based on a survey of 48 of the Square Mile’s largest firms, reveals that the financial [...]
Broadcast media moving closer to workplace equality with recent high-profile appointments December 3, 2015 Broadcast media has not always been a bastion of gender equality. Even now, it is common for TV shows to be presented by a septuagenarian, suited man, flanked by a smiley younger woman. And then, far more seriously, there are the extremely unsavoury stories – and court cases – that have exposed shocking conduct by [...]
