Explainer: Sunak’s plan to grow the workforce February 13, 2023 With Parliament in recess this week, Rishi Sunak gained some time to go back to his desk and think about his priorities – much needed with a budget coming up in a month. Among those, one leading target in his mind is to get more people back into work to drive economic growth. The UK [...]
Berlusconi: Ex Italy PM and long-time Putin ally blames Russia’s war in Ukraine on president Zelensky February 13, 2023 Former Italian premier Silvio Berlusconi has blamed Ukraine’s president for Russia’s invasion, again putting him at odds with Prime Minister Giorgia Meloni’s support for Kyiv. Mr Berlusconi, whose Forza Italia party is part of Ms Meloni’s right-wing coalition government, is a long-time friend and ally of Russian President Vladimir Putin. He said the war in [...]
Financial Services and Markets Bill Committee: The half time summary February 13, 2023 Lord Holmes sets out his amendments and explores key themes from the Financial Services and Markets Bill Committee.
London bus strike resolved as Unite accepts Abellio’s ‘greatly improved’ pay increase February 13, 2023 A long running dispute involving more than 1,800 bus drivers in London has ended after the workers accepted a “greatly improved” pay offer. Members of Unite employed by Abellio have staged a series of strikes in recent months. They have accepted a pay increase that Unite said will see drivers with over two years’ service [...]
ESG: City firms feel pressure of rule changes as clampdown on greenwashing expanded by regulators February 13, 2023 City firms are feeling the pressure of impending environmental, social and governance (ESG) rules this year as regulators expand plans to clampdown on greenwashing, new research has found. Financial firms in the UK have pointed to rules on sustainability as the main pinch point facing them for a second year running, ahead of a major [...]
Citi eyes £6.6bn sale of Mexican bank Banamex as it retreats from international markets February 13, 2023 Citigroup is nearing the sale of its Mexican retail bank Banamex in a deal that would be worth $8bn (£6.6bn), the Financial Times reported, despite government interference scaring off potential bidders. According to three people familiar with the matter, the owner of Mexico’s largest mining company, Germán Larrea, is in exclusive talks to purchase Banamex. [...]
Crypto narratives: Industry comes to Turkey’s aid, and SEC moves against staking February 13, 2023 CryptoCompare data has shown that there was a 2.7% drop in the combined market cap dominance of BTC, ETH, and stablecoins.
Goldman Sachs boss admits job cull should have been made sooner when ‘slowdown’ was apparent February 13, 2023 David Solomon told a gathering of Goldman Sachs executives that he should have cut jobs and slowed the investment bank’s hiring of new staff earlier in 2022 . Solomon was reported by the Financial Times as telling colleagues he had been too slow to reduce Goldman’s headcount. “As the environment was growing more complicated in [...]
Brexit delivered £1,000 blow to every UK household, Bank of England rate setter Haskel claims February 13, 2023 The sharp reduction in business investment after Brexit has dealt a £1,000 blow to every UK household, a rate setter at the Bank of England has claimed. Speaking to The Overshoot, Jonathan Haskel, an external member of the monetary policy committee (MPC), said that the “productivity penalty” caused by a huge drop in capital spending [...]
MJ Hudson: EY quits as auditor after it ‘lost trust and confidence’ in firm’s management February 13, 2023 EY has resigned as MJ Hudson’s auditor after losing trust in the company’s ability to “provide us with accurate and reliable information for audit”. The embattled asset manager received the news in a letter from the Big Four accountancy firm this morning in which EY said it would be resigning with immediate effect. In it’s [...]
