Donald Trump banned from visiting Tower Hamlets in London January 19, 2018 US president Donald Trump has been banned from visiting the Borough of Tower Hamlets, just a month after Greenwich councillors made the same decision. Councillors in the East London area voted through a motion declaring it a “Trump-free zone”. It also called for the invitation for Trump’s state visit to the UK to be revoked. [...]
City of London Corporation chief says there will be fewer Brexit job moves for financial services than first thought January 19, 2018 The City of London Corporation’s policy chair has said the booming financial services industry looks set to lose considerably fewer jobs due to Brexit than originally thought. In an interview with Reuters, Catherine McGuinness said the forecast had perked up in the wake of an agreement between Britain and the European Union on the principle [...]
Emmanuel Macron tells Theresa May there will be no special Brexit deal for the City January 18, 2018 French President Emmanuel Macron tonight reiterated his tough stance on financial services access to the EU market after Brexit, saying there would be no special deal for the City. Macron said there can be “no differentiated access to financial services” for nations outside the EU, and that the UK would have to choose between the [...]
French finance chief says Brexit won’t be a catastrophe for the City of London January 18, 2018 Warnings about Brexit’s impact on the City have been overblown, according to French finance chief Christian Noyer. Noyer was formerly the governor of the Bank of France, and is now leading French efforts to persuade banks to pick Paris as a location after Brexit. He has also been tasked with protecting France’s financial services sector [...]
Who’s getting the biggest City pay rises this year? Junior accountants, it seems January 18, 2018 Junior accountants will take home the biggest pay increases of any City roles during 2018, according to analysis of the top 10 jobs for pay rises to be published today – even beating finance directors and their more senior colleagues. Beancounters with less than three years’ experience will enjoy a 4.2 per cent salary rise [...]
UK pay growth will accelerate and jobless rate will hit fresh lows, insists Bank of England’s Michael Saunders January 17, 2018 Michael Saunders, a member of the Bank of England’s monetary policy committee, has insisted that UK pay growth will accelerate this year as the labour market tightens. Though subdued, he predicted the rise in the size of UK pay-packets would also be likely to overshoot consensus estimates to rise to three per cent year-on-year in [...]
The first fall in inflation in six months is promising, but there’s a long way to go yet January 17, 2018 Has UK inflation peaked? That was the question everyone was tentatively asking on Tuesday. The truth is no-one knows, not yet anyway. Official figures at least show that Consumer Price Inflation (CPI) fell by 0.1 per cent in December to 3 per cent. That is clearly welcome but it doesn’t suggest we’re out of the [...]
Bank of England says Brexit trade deal including the City is possible but warns of tensions with EU over investment banks January 16, 2018 A post-Brexit free-trade deal with the EU which includes financial services could be completed in three years, according to the Bank of England’s chief banking regulator, countering the view of the EU’s chief Brexit negotiator, Michel Barnier. Sam Woods, the Bank’s deputy governor in charge of the Prudential Regulation Authority, said it is “plausible” that [...]
Jacob Rees-Mogg to lead pro-Brexit group of UK MPs January 16, 2018 Jacob Rees-Mogg has been elected to lead the European Research Group, a group of Tory MPs who scrutinise the government’s handling of Brexit. Rees-Mogg, a leading Eurosceptic, stood unopposed in the election for the chairmanship. Read more: Bank of England warns of Brexit tensions on investment banks with EU The position became free when former [...]
Bank of England economist Silvana Tenreyro sees potential for pleasant UK productivity surprise January 15, 2018 British productivity growth could give economists a pleasant surprise in the coming years, according to a top policymaker at the Bank of England. Silvana Tenreyro, an external member of the interest rate-setting monetary policy committee (MPC), said she believes the so-called productivity puzzle could be resolved as laggards – including the financial sector – finally [...]