Hunt to unveil post-Brexit Big Bang 2.0 for UK financial services industry December 8, 2022 Jeremy Hunt will finally unveil the government’s plans to shred EU financial services laws today as he proposes a package to boost the City’s global competitiveness post-Brexit. Hunt will deliver the landmark announcement in Edinburgh this morning, with the chancellor set to drop Solvency II capital requirements on insurance firms and ease current bank ring-fencing [...]
Big Bang 2.0? Smart post-Brexit reforms can put power in the country’s engine December 8, 2022 It may be a transparent nod to the geographical spread of the UK’s financial services industry, but the fact the Chancellor is delivering his thesis on the country’s post-Brexit regulatory regime north of the border is worth noting. The phrase Big Bang 2.0 has been ditched – it’s now the Edinburgh Reforms – but the [...]
Water firms struggle with pollution incidents, says damning Ofwat report December 8, 2022 Serious pollution incidents have increased this year, revealed Ofwat in a collection of highly critical reports on the water industry.
RMT doesn’t exclude chance of new tube strikes as members renew mandate December 8, 2022 The RMT has not excluded the chance of new strike action on the tube network as it received another six-month strike mandate from London Underground workers. General secretary Mick Lynch has urged London Underground and mayor Sadiq Khan to sit down with the union “so we can bring this dispute to a resolution.” “If a [...]
Coal mine approval draws mixed industry response December 8, 2022 The Government's decision to approve a new coal mine in Cumbria has divided experts, politicians and industry groups.
Whitty report says toxic air pollution down 44 per cent in central London thanks to ULEZ December 8, 2022 London has emerged as a “world leader” in tackling toxic air pollution according to a new report by chief medical officer Sir Chris Whitty. His latest findings reveal the dangers of pollution in the capital, but show Nitrogen Dioxide (No2) concentrations by roads are down a fifth in inner London and 44 per cent in [...]
FTSE 100 dogged by investors souring on Ashley’s Frasers Group December 8, 2022 London’s FTSE 100 was dogged down today by retail tycoon Mike Ashley’s Frasers Group sinking to the bottom of the index. The collection of the capital’s top companies dropped 0.23 per cent to 7,472.17 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.56 [...]
Knightsbridge fund managers convicted for defrauding Libya’s sovereign fund December 8, 2022 A trio of fund managers have been convicted of carrying a large-scale fraud that saw Libya’s sovereign wealth fund lose £46m. The three men, who managed £822m worth of investments on behalf of the Libya Africa Investment Portfolio (LAIP), defrauded the fund through a series of offshore shell companies. The fraud came after London bankers [...]
Virgin Atlantic’s boss calls Heathrow’s proposed price cap ‘unacceptable’ December 8, 2022 The row between Heathrow and its airport customers has reached a new high after Shai Weiss, the chief executive of Virgin Atlantic, called out the UK aviation regulator over the airport’s interim price cap. Weiss has accused the Civil Aviation Authority (CAA) of “putting the interests of a monopolistic airport and its shareholders ahead of [...]
MLB London: Why baseball bosses believe the sport can thrive in London December 8, 2022 Once a fortnight during the football season, the Emirates Stadium fills up with 60,000 committed Arsenal fans cheering on the Gunners. Online, millions of supporters across the world tune in for highlights and videos – with more to shout about this year than most. One could imagine that Ben Ladkin, who spent 11 years masterminding [...]
