‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Chancellor Philip Hammond says UK is seeking an ambitious new free trade deal with China in the aftermath of last month’s Brexit vote July 24, 2016 Chancellor Philip Hammond has launched talks over an ambitious new free trade deal as part of his visit to China. Hammond visited Beijing and Hong Kong ahead of the G20 finance ministers meeting in Chengdu, and yesterday said that both sides would want to ink a bilateral deal in the aftermath of Brexit. Asked specifically [...]
A group of pensioners at engineering consultancy Halcrow have launched a legal challenge against plans to cut their benefits after a regulatory intervention July 24, 2016 NULL
SAB Miller’s £71bn sale is facing growing shareholder pressure as Aberdeen Asset Management reportedly joins the rebellion July 24, 2016 The long-awaited takeover of SAB Miller has reportedly been left on a knife edge by growing shareholder concerns on sterling's depreciation, even as analysis shows the total number of deals since last month's Brexit vote holding up. Shareholders have raised fears that the cash value Anheuser-Busch InBev's £71bn purchase has plummeted alongside the strength of sterling since last [...]
Customers are flocking towards new banking tech like apps and contactless payments according to a BBA report July 22, 2016 Consumers are flocking towards new banking technology, according to a new report, with mobile banking apps now being used more than 7,500 times a minute. Figures published by the British Bankers Association today show a dramatic rise in account holders using their mobiles to access their money. Mobile apps are now used more almost three times more commonly [...]
Philip Hammond heads to China to boost the City’s reputation in the Far East July 22, 2016 Chancellor Philip Hammond has travelled to China in a bid to burnish the City's trading reputation overseas. Hammond will visit Beijing and Hong Kong to promote British business ahead of the G20 finance ministers' meeting in Chengdu. “My focus in China will be on promoting British business opportunities, including in the financial services sector, where [...]
Theresa May and Francois Hollande have agreed to retain existing borders, but the French president has maintained that Brexit talks must begin ASAP July 21, 2016 Theresa May and Francois Hollande have agreed to retain UK border controls in Calais, despite the latter repeating his demands for Brexit talks to begin “as soon as possible”. In the build up to the referendum, French politicians had called for the Le Touquet agreement, which allows the UK to maintain border checks in France, to be [...]
The UK is owed more than £300,000 in unpaid parking fines from embassies and foreign missions, according to the Foreign Office July 21, 2016 Foreign embassies owe a total of more than £300,000 in parking fines, according to figures published by the Foreign Office today. In addition to more serious offences, almost £500,000 of fines were levied through 2015, with just £161,328 either paid or waived by local councils, Transport for London and the City of London. In a [...]
Foreign officials avoided charges for 11 serious crimes including people trafficking last year, the FCO has revealed July 21, 2016 Foreign diplomats avoided 11 serious criminal charges last year, including people trafficking and taking indecent photographs of children. Figures published by the Foreign and Commonwealth Office today show that “diplomatic immunity” had been invoked to avoid charges for the offences, which could otherwise have landed the perpetrators in prison for more than 12 months. Saudi Arabian nationals [...]
The UK’s pensions lifeboat remains buoyant on Brexit and BHS, despite rising claims values July 21, 2016 The UK's pensions lifeboat remains optimistic on its prospects, despite facing the potential rescue of two substantial schemes and uncertainty generated by Brexit. In figures published today, the Pension Protection Fund reported a £4.1bn surplus for the year to 31 March, up from £3.6bn. The collapse of BHS earlier this year means the PPF is currently assessing [...]
Treasury Committee chair Andrew Tyrie demands airports update from new chancellor Philip Hammond July 21, 2016 New chancellor Philip Hammond is facing demands from parliament's influential Treasury Committee to publish more information on the government's arguments for airport expansion. Committee chair Andrew Tyrie has written to Hammond, and accused his predecessor George Osborne of "obfuscation and delay". In his letter to Hammond, Tyrie said: "For nearly 40 years, there has been much talk, but [...]
