MPs grill City watchdog chief as Tesco Bank and RBS fallout rocks the sector November 8, 2016 Talk about bad timing: The City watchdog boss has today faced a grilling from the influential Treasury Select Committee as the banking industry is still reeling from a hectic few days. Andrew Bailey, chief executive of the Financial Conduct Authority, appeared before the MPs as customers at challenger Tesco Bank await to hear how bad the weekend's [...]
Brexit opening up a whole new world of work for lawyers November 8, 2016 June's vote for Brexit has shaken up the legal industry, including revealing lucrative pockets of work for lawyers, according to a report published today. The Natwest study highlighted how lawyers are becoming increasingly in demand as the "sheer complexity of the regulatory and legislative changes needed to support the UK's exit from the EU becomes clearer". However, [...]
Better, not less, red tape would really help financial firms November 8, 2016 Red tape needs to be cleaned up rather than cut to boost the financial sector, a report out today argues. In particular, the Confederation of British Industry (CBI) found that uncertainty surrounding the direction regulation was heading could be making firms nervous about allocating resources to projects, as they desperately try to second guess what rules will come [...]
Prime Minister Theresa May extends visa sweetener to India November 7, 2016 Prime Minister Theresa May has today promised a more polished version of the UK's visa deal with India. This summer's Brexit vote has raised a number of questions surrounding the UK's approach to freedom of movement of people, both within the EU itself and further afield. Speaking at a press conference as part of her trade [...]
Santander returns to negotiating table for RBS’ Williams & Glyn November 7, 2016 Santander has had a change of heart about Royal Bank of Scotland's Williams & Glyn, tabling a new bid for the bank. RBS has been told to divest of its interest in Williams & Glyn, and its more than 300-strong branch network, by the end of 2017 as part of its £45bn state bailout deal. Now, [...]
This former chancellor has joined a new financial well-being charity November 7, 2016 A charity set up to boost financial well-being and resilience across the UK has just welcomed a former chancellor onto its board of trustees. Alistair Darling, who served as chancellor between 2007 and 2010, has joined Standard Life Foundation and he is expected to become the charity's chair at the start of 2017. Howard Davies, who used [...]
Brexit minister sticks to his guns as he eyes the Supreme Court November 7, 2016 Government still intends trigger Article 50 by the end of March next year and also appeal a case on the matter to the highest court in the country, the Brexit minister has maintained today. David Davis also noted government will be applying for leave to appeal to the Supreme Court this week. Last week, a trio [...]
Dignity profits dip in line with drop in death rate November 7, 2016 Dignity announced today that its profits have slipped slightly as the country's death rate dropped. The figures The listed provider of funeral related services revealed underlying operating profits for the 39 weeks to 23 September of £75.8m, down 2.9 per cent from £78.1m for the same period last year. Revenue nudged up slightly to £229.3m, up one per [...]
Attorney general jumps to defend courts following Article 50 backlash November 7, 2016 Attorney general Jeremy Wright has stood up to defend the courts today, following attacks on the legal system after high court judges decided government must consult parliament before Article 50 can be triggered. Speaking at an event to launch the Law Society's pro bono charter and manual, Wright said that, while those involved in the case could [...]
