Davos 2016: Prime Minister David Cameron says he’s “not in a hurry” to hold a referendum without a good reform deal January 21, 2016 Business leaders should be making the case for Britain's membership in the European Union, Prime Minister David Cameron has said today. Speaking at the World Economic Forum annual meeting in Davos, Cameron said: "I hope that businesses and NGOs and other organisations don't hold back." "And I would say, don't hold back right now," Cameron added, saying corporate [...]
Shadow chancellor John McDonnell says a Labour government under Jeremy Corbyn would break up the big banks January 21, 2016 A Labour government led by Jeremy Corbyn would look to break up Britain’s biggest banks, shadow chancellor John McDonnell has said. Speaking at a Co-operatives UK conference in Manchester today, McDonnell said: “Small businesses in general, and not just co-operatives, face dreadful difficulties in getting the funding they need from our high-street banks. “No other major [...]
Challenger Shawbrook poaches Evelyn Hamilton from Lloyds Banking Group January 21, 2016 Shawbrook has hired a new managing director of consumer finance, announcing in a statement this morning that Evelyn Hamilton has joined the challenger from Lloyds Banking Group. Hamilton becomes just the latest high-profile hire for the challenger, which floated on the London Stock Exchange last April. The bank announced last autumn that it had poached Santander's then-head [...]
London mayoral election 2016: Labour candidate Sadiq Khan wants business leaders shaping City Hall policies January 21, 2016 Business leaders should help shape policy decisions in City Hall, Labour mayoral candidate Sadiq Khan said today as he revealed his plans to appoint a business advisory group. Khan, who has pledged to be the “most pro-business mayor of London yet”, said his advisory board would be made up of independent business leaders, not political [...]
London mayoral election 2016: Conservative candidate Zac Goldsmith says he’s secured tighter rules for future Tube strikes January 21, 2016 Conservative candidate for mayor of London Zac Goldsmith today revealed that he has secured tighter rules to limit future Tube strikes. Goldsmith said that under new strike laws, all Transport for London (TfL) services will be considered “essential” and therefore require the support of 40 per cent of all eligible voters in a strike ballot. Goldsmith [...]
EU referendum: New Civitas report says Britain does not benefit from being in the European Union trading bloc January 21, 2016 Britain does not benefit from being part of the European Union when it comes to negotiating trade agreements, a leading think tank has said in a new report out today. Civitas said that while it is assumed that the European Union provides “greater bargaining strength” than an independent Britain, new research shows that smaller countries [...]
Report: Investors want High Street challenger Metro Bank to push ahead with £500m listing next month January 20, 2016 High street challenger Metro Bank is reportedly eyeing next month for a flotation, bolstered by demand from existing investors. Metro Bank has not officially set a date for an initial public offering (IPO), but sources close to the bank have repeatedly said the challenger remains on course to list this year. But the listing could [...]
Financial Conduct Authority (FCA) bosses defend decision to scrap bank culture review January 20, 2016 Top bosses at the City regulator have defended their decision to scrap a review into Britain’s banking culture, and denied any Treasury involvement in the move. Members of the influential Treasury Committee are currently grilling Financial Conduct Authority (FCA) chairman John Griffith-Jones and FCA acting chief executive Tracey McDermott. Members of the committee had demanded the session earlier this month, after [...]
Goldman Sachs posts third straight quarter of sliding profits January 20, 2016 Goldman Sachs reported a sharp drop in fourth-quarter profit today, after a $5bn (£3.5bn) legal settlement weighed on the investment bank's costs in the last three months of 2015. Goldman reported a 71.8 per cent fall in net income applicable to common shareholders to $574m, or $1.27 per share, from $2.03bn, or $4.38 per share, a year [...]
The General Election cost political parties more than £39m and the Tories spent £3m more than Labour in the most-expensive UK election ever January 20, 2016 Nearly £40m was spent on the 2015 General Election, with the Conservatives out-spending all other political parties, according to new data out today from the Electoral Commission. A total of £39,023,564 was spent by 57 parties and 23 non-party campaigners in the run-up to last May's election, but the bulk of the spending came from the six largest [...]
