TCI threatens investors over climate change as pressure mounts on sector December 2, 2019 Activist hedge fund TCI has called on company directors to disclose their carbon dioxide emissions or risk punishment. According to the Financial Times, TCI, which is led by venture philanthropist Sir Christopher Hohn, has sent letters to companies such as Airbus and Moody’s warning them to improve their pollution disclosure or face having their directors [...]
Mark Carney appointed UN climate envoy ahead of Bank of England exit December 1, 2019 Bank of England boss Mark Carney has been appointed United Nations special envoy for climate action and finance, it was announced today, as he looks towards life beyond the governor’s chair. UN secretary-general Antonio Guterres has tasked Carney with galvanising global finance into addressing the perils of climate change and helping limit warming to 1.5 [...]
Natwest and RBS down: Outages hit online banking and mobile apps on Black Friday November 29, 2019 RBS and Natwest’s mobile apps and online banking services suffered intermittent problems today, with customers taking to Twitter to complain. “Our Online Banking, mobile app and Bankline are currently facing intermittent problems,” Natwest told customers on Twitter. “We’re working hard getting them back up and running smoothly for you. We’ll post an update when we [...]
Who’s buying UK shares and what does it tell us? November 29, 2019 High demand for UK-quoted companies from large and experienced buyers suggests other investors may be overlooking an opportunity. Will a UK general election on 12 December help break the Brexit stalemate? Possibly, possibly not. The ongoing uncertainty means investors of almost every stripe remain cautious about buying UK equities (shares). I stress ‘almost’ because some [...]
DEBATE: Is Extinction Rebellion’s target of net-zero emissions by 2025 economically viable? November 29, 2019 Is Extinction Rebellion’s target of net-zero emissions by 2025 economically viable? Zion Lights, a science communicator and editor of Extinction Rebellion newspaper The Hourglass, says YES. It’s an odd question — if we don’t achieve net-zero emissions sooner than the current target of 2050, we risk committing ourselves to potential economic collapse. Bank of England governor [...]
Ranked: Top 10 retail banks for customer experience November 28, 2019 First Direct has won the crown for delivering the best retail banking customer experience, according to a comprehensive new study released this morning. The telephone and internet-based retail bank has seen off competition from the likes of Barclays, the Co-operative Bank and Royal Bank of Scotland (RBS) to claim the top spot. Read more: Lloyds [...]
Labour’s rejection of conventional economic theory ignores important insights November 27, 2019 One of the first tasks facing whoever becomes chancellor after the General Election will be choosing the next governor of the Bank of England. Getting to make this choice would be a key step in the plans of Labour’s shadow chancellor John McDonnell to shake up the Bank of England, but his radicalism is not [...]
Goldman Sachs takes bullish stance on the future of domestic UK stocks November 26, 2019 Global banking giant Goldman Sachs is advising its clients to snap up a stake in British firms, taking a bullish stance on the future of UK stocks. Buoyed by expectations of less Brexit uncertainty and blockbuster spending promises from both the major political parties, the US investment bank has recommended a long position on UK [...]
Bank of England slaps Citigroup with record £44m fine November 26, 2019 Citigroup has been hit with a £44m fine from the Bank of England after falling short of financial information standards. The Bank has slapped on the record penalty after Citigroup made “significant errors” in reporting its capital and liquidity positions between 2014 and 2018. Read more: Wework lays off 2,400 employees in efficiency drive The [...]
Economists give Labour a boost by backing spending plans November 26, 2019 Labour’s economic credibility has received a boost this morning after a group of 168 economists signed a letter supporting the party’s plans for much higher government investment in the economy. Published in the Financial Times, the letter said Labour has “understood the deep problems we face,” which include “10 years of near zero productivity growth” [...]