Independence is ‘vital’ for effective regulation, say watchdogs September 7, 2022 The UK's top financial regulators have doubled down on their continued independence from political influence today as they warned that pursuing short term growth by "lowering" regulatory standards could threaten financial stability.
London’s FTSE 100 jumps as Liz Truss mulls cost of living support package September 6, 2022 London’s FTSE 100 jumped today driven by investors being reassured by new prime minister Liz Truss preparing to ramp up support for households and businesses this week. The capital’s premier index added 0.18 per cent to reach 7,300.44 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the [...]
If Liz Truss thought winning was hard, governing will be a formidable task September 6, 2022 It will not feel like it to Liz Truss, but that was the easy bit. Political campaigns are always brutal, exhausting and emotional affairs; none more so than this summer’s long and fractious Conservative leadership contest. But the challenges of the last few months pale into insignificance against the enormity of what the new prime [...]
Liz Truss: New PM can be radical – but she’ll need to keep sceptical markets onside September 5, 2022 As she gets used to the new letterhead on her stationery over the next couple of days, Liz Truss will also be introduced to the art of the balancing act. The job of Prime Minister requires different skills from that of a successful Cabinet minister, on whom it is beholden to drive forward their own [...]
Bridging the gap between crypto and mainstream finance September 5, 2022 Lisa Quest of Oliver Wyman explains how the UK’s regulators are currently underequipped to supervise against new crypto regulations.
Liz Truss to become Britain’s next Prime Minister after winning Tory leadership race September 5, 2022 Liz Truss will be crowned as the UK’s new Prime Minister tomorrow, after winning the Conservative party leadership contest. Truss today beat out rival Rishi Sunak at the end of the two-month contest and will be appointed as Prime Minister by the Queen tomorrow in Balmoral. Truss won just over 57 per cent of the [...]
Pound Sterling crashes to jaw-dropping 37-year low as City awaits name of new Prime Minister September 5, 2022 Pound Sterling dropped this morning below its pandemic lows against the dollar after weeks of weakening, sending it to the lowest point in decades. It means that it has been 37 years since British holidaymakers in the US, and importers bringing products into the UK, got so little bang for their pound. It briefly fell [...]
This week: Housebuilding space to come under spotlight with key players revealing results September 5, 2022 Investors will get a good idea of how the housing market is faring with a trio of leading housebuilders unveiling financial results this week. Barratt Developments, Berkeley Group and Vistry are all set to update shareholders on their performance amid reports the housing sector is losing steam. London-listed housebuilding giants Barratt, Berkeley, Persimmon and Taylor [...]
Letters: Failure at the high street bank September 5, 2022 [Re: Fintech lenders have failed to educate FCA on financial crime, August 23] The knowledge gap between financial regulators and digital banks is no surprise. Traditional financial institutions’ largely ineffective financial crime protections make mutual understandings between regulators and providers a rare occurrence. So, when digital banks are called out for their lack of transparency, [...]
Truss appears to soften Bank of England independence stance September 4, 2022 Liz Truss appeared to soften her stance on the Bank of England’s level of independence today as the Tory party prepares to crown a new leader and Prime Minister. Truss, the presumptive next Prime Minister, said she was a “great believer” in the Bank of England’s independence and that she would not “countermand to the [...]