EU referendum: Full text of Donald Tusk’s letter to EU leaders on Prime Minister David Cameron’s reform agenda February 2, 2016 European Council President Donald Tusk just published his long-awaited response to Prime Minister David Cameron's renegotiation demands. To be, or not to be together, that is the question… My proposal for a new settlement for #UKinEU https://t.co/w4VSmnbahQ — Charles Michel (@eucopresident) February 2, 2016 Full text of his letter to EU leaders below: Keeping the unity [...]
Britain’s top accountants say the Treasury does not have the financial expertise of the private sector February 1, 2016 A leading industry group has slammed the Treasury today, saying the government department is "not functioning as a modern finance industry". In a new report out today, the Institute of Chartered Accountants in England and Wales (ICAEW) says the Treasury needs major reforms and restructuring to "more effectively tackle the deficit, be more efficient in spending [...]
Government introduces new tax to fund crackdown on loan sharks February 1, 2016 The government is today proposing a new tax to crack down on illegal money lending. The Treasury tabled an amendment to the Bank of England and Financial Services Bill this afternoon that will give the Financial Conduct Authority (FCA) to introduce a new tax on consumer credit firms, including credit card issuers, credit brokers, payday lenders, peer-to-peer lenders, and debt management and [...]
Clydesdale clears final legal hurdle ahead of demerger and IPO tomorrow February 1, 2016 Australian courts have approved the sale of Clydesdale and Yorkshire banks, one day before the banking business is expected to begin conditional trading in London. National Australia Bank (NAB), which still owns Clydesdale and Yorkshire Banks (CYBG), said overnight that the CYBG demerger had been approved by Supreme Court of Victoria. NAB shareholders voted in favour of the [...]
EU referendum: New research shows at least one in three Conservative MPs will back Brexit February 1, 2016 One in three MPs are still undecided on whether Britain should leave or remain in the European Union, according to a new poll out today from Ipsos Mori. The pollsters carried out the survey for the UK in a Changing Europe think tank, finding that a third of MPs said their vote in the referendum [...]
MPs on BIS Committee say government “lacks focus” when it comes to tackling low UK productivity February 1, 2016 An influential group of MPs has slammed the government over its efforts to boost Britain’s productivity, saying ministers’ plans “lack focus”. In a new report out today, MPs on the Business, Innovation and Skills (BIS) Committee said the government’s so-called productivity plan, first introduced last summer, “lacks clear, measurable objectives and largely amounts to an [...]
London airport expansion: Sir Howard Davies, Sir Martin Sorrell, CBI, London First and others hit back at MPs’ request for more economic analysis of airport options January 31, 2016 Business groups have once again urged the government to push ahead with airport expansion, after an influential group of MPs opened the door to further delays by calling for more economic analysis of the costs and benefits of additional runways. In a letter today to chancellor George Osborne, Treasury Committee chair Andrew Tyrie attacked the [...]
EU referendum: Controversial filmmaker Martin Durkin launches crowdfunding campaign for “Brexit: The Movie” January 31, 2016 Could “Brexit: The Movie” be coming soon to a cinema near you? Martin Durkin hopes so. The controversial documentary filmmaker, who has been called the “Michael Moore of the right” is tomorrow kicking off a crowdfunding campaign to raise £100,000 in support of his next eurosceptic project. Durkin, whose other credits include “Nigel Farage: Who [...]
Credit Suisse results: Swiss banking expected to post a loss as it gets ready for billions of pounds in goodwill write-down January 31, 2016 Swiss banking giant Credit Suisse is expected to reveal a loss later this week as it gets ready to write down billions of pounds worth of assets. The bank’s chief financial officer David Mathers said last year that he expected a 6.3bn Swiss franc (£4.3bn) impairment charge in the fourth quarter in relation to the company’s [...]
Challenger bank Secure Trust is weighing up a bid for RBS business Williams & Glyn January 31, 2016 Challenger bank Secure Trust is considering making a bid for Williams & Glyn, the banking business that Royal Bank of Scotland (RBS) is required to sell off by the end of next year. City A.M. understands that Secure Trust, an AIM-listed retail and commercial bank, is looking at Williams & Glyn, which RBS is getting [...]
