Chinese hustlers are taking advantage of the Cayman legal system – and British investors are paying for it
Bailey’s FCA is in need of a remit reboot August 2, 2019 Several months ago it felt as if the top job in Britain’s banking system was Andrew Bailey’s to lose. A veteran of Threadneedle Street who is at ease among top City bosses, the head of the City watchdog has been the bookies’ favourite to replace Mark Carney as governor of the Bank of England as [...]
Freeports: Government plans tax-free hubs aimed at boosting trade post-Brexit August 1, 2019 Plans to bolster Britain’s international trade post-Brexit by creating up to 10 major tax-free zones are being drawn up by the government. New international trade secretary Liz Truss has set up a panel to advise the government on the establishment of as many as 10 Singapore-style so-called ‘Freeports’. Read more: Stock markets edge up after [...]
Trump tariff talk spooks Wall Street August 1, 2019 US president Donald Trump sent shockwaves through Wall Street tonight after revealing plans to slap more tariffs on Chinese goods in the latest trade battle between Washington and Beijing. In a string of tweets, Trump spooked investors after announcing 10 per cent tariffs on another $300bn (£247bn) of goods following this week’s talks between the [...]
Trump hits out at Fed rates cut July 31, 2019 President Donald Trump renewed his scathing attacks on the US Federal Reserve late this evening after its chair downplayed the chances of a lengthy series of rate cuts. The central bank lowered its main federal funds target rate by 25 basis points (0.25 percentage points) to between two and 2.25 per cent tonight, marking the first time [...]
Buoyant Next shows retailers how it is done July 31, 2019 Investors exposed to the troubled sector of retail property were dealt a fresh blow during trading today. Shopping centre landlord Intu led the market fallers after it cancelled its dividend and posted mounting losses, wiping 32 per cent off an already-battered share price. Read more: Shop prices fall as retailers tempt customers with discounts Although Intu’s downward spiral [...]
Fed cuts interest rates by a quarter point July 31, 2019 The US Federal Reserve cut interest rates for the first time since the financial crisis this evening, as it cited signs of slowing global growth for the highly-anticipated move. The central bank lowered its main federal funds target rate by 25 basis points (0.25 percentage points) to between two and 2.25 per cent, making borrowing [...]
Mark Carney on climate change: Capitalism is part of the solution July 31, 2019 Bank of England governor Mark Carney has swung to the defence of capitalism over its role in tackling climate change, saying that the financial system is “part of the solution” in dealing with current environmental challenges. The head of Britain’s central bank said last night that “capitalism is part of the solution and part of [...]
Co-op follows in footsteps of Amazon Go with ‘pay-in-aisle’ service July 31, 2019 The Co-op is trialling a new ‘pay-in-aisle’ plan that will allow customers to scan and buy for their products as they shop. The supermarket chain has teamed up with payment software firm ACI Worldwide to bring in the new system across 30 Co-op food stores in England, Scotland and Wales by early next month. Customers [...]
JP Morgan starts European audit review July 30, 2019 JP Morgan Chase has reportedly launched a review into its current relationship with auditors for its major European arm. The Wall Street giant has kicked off a process to look at the role currently held by PricewaterhouseCoopers (PwC) as the accountant of JPMorgan Securities. Read more: Metro Bank finance director steps down to take new [...]
Bad day at the office: Climate change activists protest outside the wrong building July 30, 2019 Green protesters were left red-faced today after targeting the offices of a renewable energy company by mistake. Several hundred climate demonstrators from a group called “Reclaim the Power” descended on the Square Mile to picket what they had thought was the headquarters of Drax, only to find out that the gas and energy group had [...]
