Andrew Tyrie MP: HSBC chief executive Stuart Gulliver has questions to answer over latest IT failure with online and mobile banking services down January 5, 2016 HSBC chief executive Stuart Gulliver has serious questions to answer after the bank's latest IT glitch left customers locked out of their online and mobile banking accounts, a leading MP has claimed. Andrew Tyrie, a Conservative MP who chairs the influential Treasury select committee, said today that he will be asking Gulliver and the regulators for [...]
EU referendum: Societe Generale analysts say chances of Brexit are nearing 50/50 January 4, 2016 Analysts at Societe Generale have warned there is a "high risk that the UK could vote to leave the European Union" this year. In a note out last night, Soc Gen said it is placing a 45 per cent probability of "Brexit", something analysts said would result in "significant economic damages". "To date, financial markets seem [...]
2016 London mayoral election: Conservative candidate Zac Goldsmith gets housing boost from Prime Minister David Cameron January 4, 2016 Prime Minister David Cameron has given Conservative candidate for mayor of London Zac Goldsmith a boost today by announcing that he will amend the national government's housing bill to address concerns over a lack of affordable housing in the capital. Cameron said that he is incorporating an amendment put forward by Goldsmith to create a binding [...]
EU referendum: Six more Conservative MPs say they’re backing Brexit as Nigel Farage, Peter Bone, Tom Pursglove and Kate Hoey launch new cross-party “leave” campaign January 4, 2016 Six new Conservative MPs have come out in favour of Britain leaving the European Union today, piling pressure on Prime Minister David Cameron as he works to secure a reform deal by the end of the next month. Anne-Marie Trevelyan, James Cleverly, Scott Mann, Craig Mackinlay, Royston Smith and Paul Scully, all elected as MPs [...]
Labour leader Jeremy Corbyn is finally sitting down with Confederation of British Industry (CBI) director-general Carolyn Fairbairn January 4, 2016 Jeremy Corbyn will finally meet with one of Britain's biggest business groups this week, nearly four months after he was elected as Labour leader. Corbyn is scheduled to sit down with Confederation of British Industry (CBI) director-general Carolyn Fairbairn within days, Sky News first reported this morning. Corbyn drew sharp criticism when he declined an invitation to address [...]
New report: Low oil prices, China slowdown to blame for “notable downswing” in London Stock Exchange AIM market January 4, 2016 A new report out today reveals that more than 50 companies de-listed from AIM last year, the largest net decrease for the London Stock Exchange’s growth market since 2012. Researchers from UHY Hacker Young, the accountancy group, said that the number of companies listed on AIM fell by 52 during 2015, a “notable downswing” compared [...]
Financial Conduct Authority (FCA) under fire as MPs on Treasury Select Committee call for hearing over decision to scrap banking culture review January 4, 2016 Leading MPs have slammed the City watchdog over its decision to drop a review into Britain’s banking culture, raising the possibility of an imminent public grilling of top regulators. The Financial Conduct Authority (FCA) revealed last week that it had scrapped plans for an inquiry into the culture and behaviour of British bank employees, saying that [...]
EU referendum: warring words among campaign groups over trade benefits of Britain’s EU membership January 3, 2016 A new fight has emerged in the European Union debate, with sparring campaign groups exchanging harsh words over whether a so-called Brexit would hurt British exporters. Britain Stronger in Europe, a pro-EU campaign, published new research today showing that the EU is the UK’s largest trading partner, taking in 50 per cent of all British [...]
Barclays reportedly reviewing allowance practices in light of EU banker bonus cap January 3, 2016 Barclays is reportedly reviewing its compensation programme to make sure that bonus and “allowance” payments comply with increasingly strict European Union regulations. The EU’s bonus cap, intended to discourage bankers from taking excessive risks, limits annual bonuses to 100 per cent of an employee’s salary, or 200 per cent with shareholders’ approval. To circumvent the [...]
EU referendum: New survey shows leading institutional investors are more concerned about Donald Trump than Brexit in 2016 December 23, 2015 Nearly half of leading institutional investors are concerned about Britain leaving the European Union next year, according to a new survey. Forty-seven per cent of global institutional investors polled by FTI Strategy Consulting and Research this month said that they were concerned about a 2016 Brexit harming their portfolio. Investors remain sceptical, however, that British [...]
