London airport expansion: Back Heathrow group says Zac Goldsmith has serious questions to answer after saying Volkswagen changes the debate December 22, 2015 A group campaigning for the expansion of Heathrow Airport has hit out at Tory mayoral candidate Zac Goldsmith, accusing the Richmond Park MP of making “misleading” comments about air quality. Back Heathrow says Goldsmith has “serious questions to answer” after saying that the Volkswagen emissions scandal “changes everything” in the airports debate. Goldsmith recently told journalists [...]
European banking watchdog delays bonus cap as it recommends scrapping bonus deferral for smaller lenders December 21, 2015 Smaller banks should be exempt from some regulations relating to bankers’ bonuses, the European Union banking regulator said today as it pushed back the start date for a controversial cap on remuneration. The European Banking Authority said while “smaller and non-complex” financial institutions would still be hit with a so-called bonus cap, they should not [...]
Treasury says senior civil servant will be chief executive of National Infrastructure Commission December 21, 2015 A senior civil servant has been tapped to lead the government’s efforts to deliver more infrastructure projects. Phil Graham, a longtime civil servant in the department for transport, will be chief executive of the National Infrastructure Commission (NIC), a new independent body chancellor George Osborne first announced at this year’s Conservative Party Conference. At the [...]
CBI director-general Carolyn Fairbairn says apprenticeship levy will inevitably lead to job losses as new poll shows 5 in 6 businesses think levy is the wrong approach December 21, 2015 The government's apprenticeship levy could lead to “significant” job losses, Confederation of British Industry (CBI) director-general Carolyn Fairbairn has warned, as a new CBI survey shows just one in six businesses think the new tax is the right approach. Chancellor George Osborne first announced the apprenticeship levy in July’s summer budget, and revealed in last [...]
Report: Post Office getting close to a deal with British lender to offer small business banking services at 11,500 branches December 20, 2015 British banks are reportedly nearing a deal with the Post Office that could lead to the closure of thousands of local bank branches. Under the agreement, the Post Office will be able to serve small business customers from leading UK banks. The Post Office, which operates over 11,500 branches across the country, currently provides deposit [...]
EU referendum: Challenger bank boss says smaller UK lenders would be better off outside of the EU December 20, 2015 The boss of a leading challenger bank has said that Britain's smaller lenders may be better off if British voters back leaving the European Union. Paul Lynam, chief executive of Secure Trust and head of the British Bankers' Association (BBA) challenger bank panel, told City A.M. over the weekend: "Arguably a Brexit would put the UK in more control [...]
Another one bites the dust: Rolls-Royce loses another high-profile investor as Old Mutual Global Investors’ Richard Buxton confirms he has sold his shares December 20, 2015 Rolls-Royce has lost yet another high-profile investor, as one leading City figure confirmed over the weekend that he has offloaded his shares in the struggling aircraft engine maker. Old Mutual Global Investors chief executive Richard Buxton told The Sunday Telegraph that he sold his stake in Rolls-Royce less month, after the company issued its fifth [...]
London mayoral election 2016: Sadiq Khan says he wants Tech City to be in the hands of City Hall as he matches Zac Goldsmith pledge for super-fast broadband December 18, 2015 Labour City Hall hopeful Sadiq Khan will today call for Whitehall to devolve certain powers relating to “Tech City” to the mayor of London. “London has made a great fist of carving out a leading position as a centre of tech but there’s much more to do to ensure we build on this success,” Khan [...]
UN Security Council urged to do more as George Osborne vows to choke off funding for Isis December 17, 2015 In an unprecedented move, chancellor George Osborne met with finance ministers from members of the UN Security Council in New York today as part of an international effort to choke off sources of funding for the so-called Islamic State (Isis) and other terrorist groups. But while the meeting – the first of finance ministers since [...]
Treasury is considering giving more powers to Bank of England over the buy-to-let market December 17, 2015 The Treasury is looking for feedback on giving the Bank of England more powers to control the housing market. Treasury officials announced today that they have opened a new consultation on the powers the Bank should have over the UK buy-to-let mortgage market in particular. The Bank's financial policy committee (FPC) is responsible for identifying, monitoring [...]
