Financial Stability Board unveils $1.19 trillion plan to prevent “too big to fail” November 9, 2015 The world's biggest banks could be forced to issue as much as $1.19 trillion (£790bn) in bonds by 2022 under new regulations set out earlier today. The Financial Stability Board (FSB), which was set up by the G20 after the financial crisis to coordinate regulation across the group’s economies, published the new rules for the [...]
CBI conference: Prime Minister David Cameron heckled by anti-European Union protesters during speech to business leaders November 9, 2015 Anti-European Union protesters interrupted Prime Minister David Cameron's speech to the Confederation of British Industry (CBI) annual conference in London this morning, holding a banner and chanting "CBI, voice of Brussels". "If you wait a second you can ask me a question rather than interrupting what is a very good conference," Cameron told the hecklers, adding, "Come on [...]
EU referendum: Irish Taoiseach Enda Kenny warns Brexit poses a “major strategic risk” November 9, 2015 The head of Ireland's government will issue a stark warning over Brexit this morning, saying that Britain leaving the European Union is an outcome that Ireland "does not wish to see materialise at all". Speaking at the Confederation of British Industry (CBI) annual conference in London, Irish Taoiseach Enda Kenny will say that Ireland "regards the prospect of the [...]
Steel crisis 2015: UK steelmakers want Sajid Javid to push back on China at emergency EU meeting November 9, 2015 Britain's steelmakers are pushing business secretary Sajid Javid to “spearhead immediate European action on anti-dumping measures” at a meeting of European ministers today in Brussels. UK Steel says Javid, who called for the EU-wide emergency meeting over the steel crisis, needs to now press for further action to “speed up efforts to prevent unfair dumping” in [...]
PwC: Investment in UK-held assets will account for more than half of all investment across Europe November 9, 2015 British banks are leading the way in disposing of unwanted loan portfolios, according to a new report out today from PwC. Analysts from PwC’s portfolio advisory group found that European banks are disposing of unwanted loan portfolios at record rates and performing portfolios are becoming increasing popular, with investment in UK-held assets accounting for more [...]
EU referendum: Cameron will warn he could back Brexit as new Open Europe report shows it will be difficult to win over EU counterparts November 9, 2015 Prime Minister David Cameron will caution tomorrow that he is prepared to support Britain leaving the European Union unless other European leaders agree to his reform agenda. Cameron is expected to spell out the UK government’s requirements for EU reform in a letter to the President of the European Council, Donald Tusk. In a separate [...]
Uber for energy providers would save consumers money reports Adam Smith Institute November 6, 2015 The British energy market needs to cut red tape and allow new disruptive technologies to challenge old models of energy distribution, the Adam Smith Institute (ASI) has argued in a new paper out today. In the paper, the ASI, a free market think tank, said that new features such as smart-meters and “microgrids” can “can [...]
Libor rate scandal: US courts convict two British bankers of conspiracy and wire fraud November 5, 2015 American courts have handed down their first convictions in connection with the Libor-fixing scandal, finding two former Rabobank traders guilty of conspiracy and wire fraud. Anthony Allen, Rabobank’s former global head of liquidity and finance, and Anthony Conti, a former senior trader, were found guilty by a federal jury in New York City earlier today [...]
Takeover Panel names and shames Credit Suisse, Freshfields Bruckhaus Deringer and Holman Fenwick Willan November 5, 2015 The British takeover watchdog took the rare step today of naming and shaming Credit Suisse, Freshfields Bruckhaus Deringer and Holman Fenwick Willan (HFW) for failing to disclose details about a controversial 2010 deal involving an Indonesian coal miner. The UK Takeover Panel said the investment bank and law firms had broken the City of London’s [...]
Sinai plane crash: Prime Minister David Cameron calls Russian President Putin, holds press conference with Egyptian President Abdel Fattah el-Sisi November 5, 2015 Prime Minister David Cameron and Egyptian President Abdel Fattah el-Sisi said in a joint press conference this afternoon that they will work together to address security concerns in Sharm el-Sheikh after Number 10 grounded all British flights arriving in, and departing from, the Egyptian resort. Cameron said the two leaders were "committed to work together". “It’s in our mutual [...]
