‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
The best political reactions to Mark Carney’s decision to stay at the Bank of England to 2019 October 31, 2016 Mark Carney today revealed that he would remain as governor of the Bank of England until 2019, adding an extra year to his original plan of a five year stay. It means his tenure still falls short of the original offer of an eight year role, but still adds to Carney's long held plan to [...]
George Osborne earned a telling off for the launch of his Northern Powerhouse think tank October 31, 2016 Former chancellor George Osborne has received a ticking off from parliamentary authorities for failing to disclose his plans to chair a Northern Powerhouse think-tank. City A.M. exclusively revealed the plans last month, with Osborne formally launching the operating in mid-September. However, parliament's Advisory Committee on Business Appointments has now revealed that he did not disclose [...]
London mayor Sadiq Khan has confirmed a four per cent increase in the capital’s living wage October 31, 2016 London mayor Sadiq Khan has confirmed that the capital's official living wage is to climb by 35p to £9.75 an hour. The decision means that the London Living Wage has now climbed by 17.5 per cent since 2011, with 60,000 employees benefiting from the scheme. A further 309 firms have signed up to be living [...]
Carney “absolutely” best man for the job says Downing St October 31, 2016 Theresa May has publicly backed the governor of the Bank of England, Mark Carney, saying he is "absolutely" the best man for the job. The prime minister's spokesperson told reporters today that May was "clear in her support" for Carney, and supported him staying in his post. "The PM would certainly be supportive [for him [...]
Controversial former Farage aide Raheem Kassam has withdrawn from Ukip’s leadership race October 31, 2016 The controversial former aide to Nigel Farage has withdrawn from Ukip's leadership race just hours before the final candidates are due to be confirmed. Raheem Kassam was one of the first candidates to enter the race to succeed the party's leader of just 18 days, Diane James. But he has today pulled out of the contest, complaining [...]
Business groups are demanding a raft of industrial strategy interventions to boost productivity October 30, 2016 Business groups are pushing the government to dramatically boost productivity through a raft of plans to back infrastructure growth, hiring and training. A government consultation has seen lobbyists deluge Greg Clark's Department for Business, Energy and Industrial Strategy with demands to boost the UK's economy. Theresa May's desire to publicly reintroduce industrial strategy to the UK's [...]
Some of the UK’s largest drugmakers are set to meet ministers over Brexit concerns next month October 30, 2016 Pharmaceuticals bosses are set to meet with ministers next month in a bid to press their case for government support in the ahead of formal talks on quitting the EU. Business secretary Greg Clark said today that the government had reassured automaker Nissan over its negotiating plans for Brexit, and now the drugmakers are to [...]
Soho House has revealed a £40m cash injection in its latest accounts October 30, 2016 Private members club Soho House has revealed a £40m cash injection despite recording increased operating losses. Parent group SHG Acquisition (UK), which also includes operations in Istanbul and Amsterdam, revealed an operating loss of £11.8m in accounts filed with Companies House for the 2015 financial year. It comes a year after SHG notched an operating [...]
Theresa May could axe customs union membership to access £17bn worth of trade deals according to a Boris-backed Brexit campaign October 30, 2016 Theresa May can secure trade agreements worth twice the amount offered by the European Union if she takes the UK out of the customs union, according to leading Brexiteers. Research from Change Britain, a campaign group backed by foreign secretary Boris Johnson, found 14 countries have expressed interest in a trade pact. And the economies [...]
Donald Tusk issued a warning against isolationism at the Ceta signing October 30, 2016 EU council president Donald Tusk has issued a passionate defence of the merits of free trade and warned against isolationism at the signing of a new pact with Canada. Speaking as EU officials gathered to sign the Ceta deal alongside Canadian prime minister Justin Trudeau, Tusk said the delays in signing the deal were reflective of [...]
