Greece’s bailout may have finished, but the economic pain still has a long way to run August 20, 2018 It is a landmark moment: Greece has finally received its last payment from the European Stability Mechanism, with an unprecedented €204bn (£183bn) in bailout loans delivered since 2012 as Europe grappled with a sovereign debt crisis. European Council president Donald Tusk was fulsome in his praise today. “You did it!” he said. “Congratulations to Greece [...]
Crispin Odey: Banks ‘luring investors to their deaths’ like fading department stores August 20, 2018 Renowned hedge fund manager Crispin Odey told investors in his hedge fund that the banking sector giants now resemble struggling department stores, luring investors to a sticky end with an outdated business model. Banks' profits are under threat from smaller fintech rivals who have targeted areas where lenders have traditionally charged large fees, Odey said. [...]
Lehman Brothers ex-bankers plan London reunion 10 years on from investment bank’s disastrous collapse August 20, 2018 Former bankers from Lehman Brothers are reportedly planning to reunite next month at an event marking a decade since the investment bank collapsed, triggering the global financial crisis. Some 210 bankers, who occupied roles spanning from analyst to managing director at the time of the crash, will meet in London around the middle of September, [...]
Britons’ income from work surged in August as low unemployment made its mark August 20, 2018 Britons’ work income rose at its fastest pace on record in August, as historically low levels of unemployment helped household finances cope with inflation pressures. Data from IHS Markit’s published today showed the tenth consecutive month of employment income gains, in spite of an increase in the feeling of job insecurity. The figures will be [...]
Why ports are crucial to an ambitious, globally successful Britain August 20, 2018 The United Kingdom was built on trade and our prosperity has long depended on the goods that travel through our great ports. But our ports also have a brilliant future in front of them. That is why we are proud to be associated with a new campaign initiative from our sector, UK Ports for International [...]
European Bank for Reconstruction and Development plans to remain in London after Brexit August 17, 2018 The European Bank for Reconstruction and Development (EBRD) is planning to stay in London after Brexit, in spite of the departure of other agencies with a remit covering Europe. The partly EU-owned development bank is considering a move out of its offices overlooking Exchange Square, by Liverpool Street Station, but will remain in London if [...]
Apprenticeship levy bashed by UK businesses August 16, 2018 Business groups took a fresh swipe at the government’s apprenticeship levy today as the latest figures revealed a plunge in new starts this year. The number of new apprentices has slumped by 31 per cent year-on-year during the academic year so far, Department for Education data showed. There have been 315,900 apprenticeship starts reported to [...]
Turkish President Erdogan has no one to blame but himself August 15, 2018 US President Donald Trump has done everything in his power to help fuel the narrative his Turkish counterpart, Recep Tayyip Erdogan, wants to portray, stoking the fires of the country’s currency crisis through sanctions and, of course, tweets. Erdogan has cast himself as a man of the people fighting against external forces, and now the [...]
European firms ‘unprepared’ for ‘no deal’ Brexit warn EU business groups August 14, 2018 European firms are unprepared for a “no deal” Brexit, risking widespread economic damage on both sides of the Channel if the UK leaves the EU in a disorderly manner, European business groups have warned. A “no deal” scenario would have major consequences for European companies if it means customs procedures, travel arrangements, and product standards [...]
European firms not ready for no-deal Brexit August 13, 2018 European firms are unprepared for a “no deal” Brexit, risking widespread economic damage on both sides of the Channel if the UK leaves the EU in a disorderly manner, European business groups have warned. A “no deal” scenario would have major consequences for European companies if it means customs procedures, travel arrangements, and product rules [...]
