EU referendum: Bank of England governor Mark Carney says the City would lose business and banks would leave the Square Mile after Brexit March 8, 2016 The Square Mile would “without question” lose business if Britain votes to leave the European Union without a continuation of cross-country financial sector agreements, Bank of England governor Mark Carney has warned. Speaking to MPs on the Treasury Select Committee earlier today, Carney said he would expect some firms to move operations to the European Union [...]
London mayoral election 2016: Confederation of British Industry (CBI) wants Zac Goldsmith and Sadiq Khan to press the government on new runway March 8, 2016 Britain’s biggest business group is calling on the next London mayor to commit to building 50,000 homes a year and lobby the government to build a new runway in the south east. In its London Manifesto out today, the Confederation of British Industry (CBI) said Boris Johnson’s successor should “keep a relentless focus on business [...]
EU referendum: Row erupts on International Women’s Day after employment minister Priti Patel likens eurosceptics to suffragettes March 8, 2016 Comments by employment minister Priti Patel likening eurosceptics to suffragettes have sparked a row on International Women's Day. At a launch event for Women For Britain, a women's group campaigning to leave the EU, this morning, Patel cited suffragette movement leader Emmeline Pankhurst, saying: "As a suffragette, Pankhurst fought for the rights of women to have [...]
Moody’s: RBS, Lloyds, Barclays, Santander, HSBC and Nationwide need to close a £129bn capital shortfall to satisfy new Bank of England requirements March 8, 2016 Britain's biggest banks need to close a £129bn shortfall in capital requirements by the end of the decade if they are going to satisfy new Bank of England rules by the time they go into effect in 2019, according to a new report out today. Moody's said Britain's seven largest banks – Royal Bank of Scotland [...]
London mayoral election 2016: Labour candidate Sadiq Khan leads Conservative Zac Goldsmith by five points according to new poll March 8, 2016 Labour mayoral candidate Sadiq Khan is now five points ahead of his Conservative rival Zac Goldsmith in the race to replace Boris Johnson as mayor of London, according to a new poll out today. Khan has the backing of 31 per cent of London voters, compared to 26 per cent supporting Goldsmith, according to a poll conducted [...]
Worldpay share price falls more than 11 per cent to be among the FTSE 100’s worst performers after posting disappointing full-year results March 8, 2016 Shares in Worldpay fell by more then 11 per cent today as the payments company posted its first round of financial results since it listed on the London Stock Exchange (LSE) last year. The plummeting share price makes Worldpay among the FTSE 100's worst performers for the trading day so far, along with miners. Worldpay reported [...]
EU referendum: British Chambers of Commerce (BCC) hits back at claims over government interference in John Longworth’s resignation March 8, 2016 The British Chambers of Commerce (BCC) has rejected reports that the government played a role in the initial suspension and ultimate resignation of its former boss, John Longworth. In a new statement out this morning, a BCC spokesperson said: "No politician, official, or external interest had any influence on the BCC board’s decision to suspend [...]
Banking Standards Board (BSB) chairman Dame Colette Bowe says rebuilding the trustworthiness of British banking will be a “long haul” March 8, 2016 Building the trustworthiness of the British banking sector will be a “long haul”, a former regulator has warned, as the Banking Standards Board (BSB) publishes its first annual review. The BSB is an independent body set up last year to improve standards of behaviour in the Square Mile and restore the public’s trust in financial [...]
Deutsche Bank: EDF is “facing a squeeze” between “political desire” and “financial realities” over Hinkley Point March 7, 2016 Shares in French utility company EDF fell by more than eight per cent today amid worries that Britain’s Hinkley Point nuclear power plant will not secure enough investment to go ahead. In a statement earlier today, EDF confirmed its finance director Thomas Piquemal had stepped down. Multiple reports indicated the former exec resigned with concerns [...]
EU referendum: Downing Street refuses to deny it contacted British Chambers of Commerce (BCC) over John Longworth as Grassroots Out files FOI March 7, 2016 Downing Street refused to deny this morning that Number 10 officials contacted the British Chambers of Commerce (BCC) over former director general John Longworth's euroscepticism. "Of course Number 10 talks to business organisations regularly. But if you are referring to Mr Longworth’s decision to step down, that is entirely a matter for the BCC," the Prime [...]
