Britain’s Goldilocks moment has arrived in the nick of time September 23, 2019 Not too hot, and not too cold. It’s time for the three bears to move over and take the porridge with them, because the temperature of the UK economy points to a Goldilocks moment arriving just in the nick of time. A low-inflation fairy tale has come to the aid of a nation grappling with [...]
UK Finance chair Bob Wigley named in employment claim alleging fraud at company he chaired September 23, 2019 UK Finance chair Bob Wigley has been named in an employment tribunal claim alleging fraud at a company he chaired. The claim, seen by City A.M., relates to Northern Ireland tech firm Secure Broadcast. Its former chief operating officer Richard Johnston is claiming constructive dismissal from the company after uncovering an alleged fraud. According to [...]
Rose through the ranks: RBS picks lifer for top role September 22, 2019 It was was the worst kept secret in the Square Mile: on Friday morning Alison Rose was finally appointed as the new chief executive of the Royal Bank of Scotland, but the only surprise was that the announcement did not come any sooner. RBS has insisted that it underwent a thorough job process which involved [...]
Helena Morrissey among candidates in running for Bank of England governor job September 22, 2019 Prominent City veteran Dame Helena Morrissey is in the race for the top job as Bank of England governor. The high-flying financier could become Threadneedle Street’s first female boss after making it into a shortlist of candidates being considered to replace Mark Carney next year. Read more: Big banks shift just 1,000 jobs since Brexit [...]
Why M&S’ relegation from the FTSE 100 doesn’t mean the death of the High Street September 20, 2019 Marks and Spencer (M&S) is set to be relegated from the FTSE 100 after the close of business today. This will be the first time that the company has lost its blue chip status. The UK retailer was a founder member of the FTSE 100 and a stalwart of the UK High Street. But its [...]
Alison Rose confirmed as new RBS boss September 20, 2019 Royal Bank of Scotland confirmed this morning that Alison Rose has been appointed as the firm’s first female chief executive. Rose, who is currently deputy chief executive of Natwest and the boss of the bank’s commercial arm, is replacing Ross McEwan at the helm of the company. Read more: RBS ‘returns from the wilderness’ with [...]
The UK faces a bipolar economic outlook September 20, 2019 The fact that the UK’s economic prospects appear both bipolar and nebulous is a measure of the unique period that we are in. While Boris Johnson began his premiership in high energy, with the strong conviction that Britain would exit the EU by 31 October, this momentum has quickly evaporated. Earlier this month, MPs voted [...]
No-deal Brexit could knock three per cent off UK growth, says OECD September 19, 2019 A no-deal Brexit could knock up to three per cent off British growth by 2022 and push the economy into recession next year, the OECD said today. Read more: UK economy on course to stagnate in the third quarter, says Bank of England governor The warning came as the intergovernmental economic organisation slashed its growth [...]
UK retail sales unexpectedly fall in August September 19, 2019 UK retail sales fell in August as British shoppers bought fewer goods than in July, defying expectations of zero growth in a worrying sign for the UK economy. Read more: Cheaper computer games drag down UK inflation to three-year low The quantity of goods bought in August fell by 0.2 per cent month on month [...]
Bank of England holds interest rates at 0.75 per cent and warns over Brexit delay September 19, 2019 The Bank of England has kept interest rates on hold at 0.75 per cent and warned of the effects of another Brexit delay on the economy. Read more: US Federal Reserve cuts interest rates by a quarter point The unanimous decision by the Bank’s monetary policy committee (MPC) came despite the US Federal Reserve lowering [...]