EU firms scramble to stay in the City in no-deal Brexit November 5, 2018 More than 1,000 EU firms have expressed their interest in taking up the UK's offer of continued access to the City in the event of a no-deal Brexit, according to the Financial Conduct Authority (FCA). The City watchdog's international director Nausicaa Delfas said around 1,300 EU firms were seeking to trade within the FCA's temporary [...]
Ex-CEO returns to troubled stockbroker Cenkos 18 months after he left November 5, 2018 Former chief executive of City stockbroker Cenkos Securities, Jim Durkin, has returned to the company just 18 months after stepping down. Shares were up by two per cent after the announcement that Durkin, who stepped down in May after five years in the role and was replaced by former Bank of England economist Anthony Hotson, [...]
Opinion: This Budget showed that Phillip Hammond, and by extension the Conservatives, have given up on the housing crisis November 2, 2018 Housing is arguably the second biggest political hot potato for this Government after Brexit. Getting it as wrong as they currently are will surely lead to defeat at the next election. This will be a defeat fuelled by an angry generation of resentful aspirants, whose home-owning dreams have been shattered by an administration’s failings to [...]
Bank of England: A British scientist will feature on the next £50 note November 2, 2018 The Bank of England told the public to “think science” when nominating new faces for the £50 note this morning. Figures such as Stephen Hawking and Dorothy Hodgkin are among the early frontrunners in the race to be on the new plastic note, which comes as part of a six-week process where the public can [...]
Theresa May continues to woo business groups with new forum to hear industry concerns November 1, 2018 Theresa May’s attempts to woo the business world has gone up another notch with the creation of a special forum for boardroom leaders and government ministers. The new initiative will see bosses from companies including Rolls-Royce Holdings, BT Group and ITV meet with the Prime Minister and senior cabinet figures twice a year to discuss key [...]
UK at ‘maximum uncertainty’ over Brexit but businesses ready to ‘unleash’ demand rebound, Carney says November 1, 2018 The UK has reached the "maximum point of uncertainty" on Brexit but businesses could "unleash" a rebound in demand and investment once clarity arrives, the Bank of England governor has said. His comments came after the bank's monetary policy committee (MPC) indicated interest rates may rise at a quicker pace in the coming year in the [...]
Bank of England’s monetary policy committee keeps interest rates unchanged November 1, 2018 The Bank of England's monetary policy committee has decided to keep interest rates unchanged as expected. The rate-setting committee, which raised rates to 0.75 per cent in August, unanimously voted to hold its monetary policy following a meeting on Thursday, meeting the predictions of economists. The MPC signalled that an "ongoing tightening of monetary policy" may be [...]
We must turn the page on the public perceptions of finance November 1, 2018 A company needs to stand for something more than making money. Sustainability matters more than profit. The mission should be a lasting contribution to society that finds a balance between all stakeholders. Those aren’t the words of a pious left-wing hand-wringer but of John McFarlane, chairman of Barclays, in an anthology of writing published this week [...]
UK house price growth slumps to five-year low in October November 1, 2018 House prices grew at their slowest annual rate for five years in October, Nationwide data revealed today. House price growth slumped to 1.6 per cent last month, with prices flat month on month as the latest figures paint a miserable picture for housing activity across the UK. October’s 1.6 per cent growth rate fell from [...]
City A.M. shadow MPC unanimously votes to hold rates amid ‘Brexit fog’ October 31, 2018 Economists have urged the Bank of England to keep interest rates on hold at least until the “Brexit fog” has cleared. The bank's monetary policy committee (MPC) will meet on Thursday and is expected to leave rates unchanged at 0.75 per cent despite stronger-than-expected GDP growth and pay growth at its highest in almost a [...]