With the rise of fintech, banks have more on their plate than Brexit November 29, 2017 Britain’s biggest banks nervously opened their latest stress test results yesterday. They all passed, although Barclays and Royal Bank of Scotland remain the laggards – seeing the Bank of England after class. Most hearteningly, the BoE gave Britain’s major lenders an A grade for their resilience even in the face of a “disorderly Brexit”. However, [...]
Should we have a bank holiday for Prince Harry and Meghan Markle’s wedding? November 29, 2017 Should we have a bank holiday for Prince Harry and Meghan Markle’s wedding? YES – Alex Deane, Conservative commentator. Bank holidays help to generate spending in recreational and leisure sectors, while at the same time harming national productivity more generally. But let’s be realistic. We love a royal wedding and we are going to celebrate [...]
“There will be pain”: Bank of England’s Mark Carney warns against no deal Brexit November 28, 2017 Bank of England governor Mark Carney today warned of “pain” for the British economy in the case of a hard Brexit, with no transition or longer-term trade deal secured between the UK and the EU on trade. Speaking at the Bank’s stress tests of the financial system, Carney said UK banks would be able to [...]
Bank of England governor Mark Carney says he can’t see Xavier Rolet continuing as London Stock Exchange boss November 28, 2017 Bank of England governor Mark Carney today said he thinks it unlikely that Xavier Rolet will continue as chief executive of the London Stock Exchange (LSE) Group, in an implicit backing of the LSE board in its public battle against an activist investor. Hedge fund manager Sir Chris Hohn last week demanded the Bank step [...]
UK’s second listed law firm Gordon Dadds doubles profit in first results since IPO November 28, 2017 Gordon Dadds, which became the second law firm to list on London’s public markets in August, has more than doubled its profit in the last year as it revealed its first results since the stock market float. The Aim-listed firm saw its revenue increase by 14.5 per cent to £12.89m, as adjusted profit before tax [...]
Bank of England stress tests: This is how the lenders HSBC, RBS, Barclays, Lloyds Bank, Standard Chartered reacted November 28, 2017 The Bank of England unveiled the results of its latest round of stress tests today, and presented a fairly upbeat outlook on the state of the market. Barclays and RBS were the only lenders to fall below the Bank’s systemic reference points, and in the main, the BoE said banks would incur losses of £50bn [...]
Bank of England chief economist Andy Haldane admits economics is an “instant turn-off” November 27, 2017 The Bank of England is determined to rid Britain of a “twin deficit” of understanding and trust in economics, chief economist Andy Haldane said today. Britain’s central bank said it was stepping up to help educate the country. Haldane said a better understanding of economics “would probably help many people when making everyday decisions, big [...]
EasyJet’s gender pay gap: Male staff are paid 45.5 per cent more than women as it blames shortage of female pilots November 27, 2017 EasyJet has revealed that its gender pay gap stands at 45.5 per cent, citing the make-up of its pilot community as a key reason for the disparity. The firm said: EasyJet’s gender pay gap is strongly influenced by the salaries and gender make-up of its pilot community, which make up over a quarter of its [...]
The Financial Conduct Authority says banks will back Libor until 2021 November 24, 2017 Libor will continue with investment banks’ backing until it is phased out in 2021, the Financial Conduct Authority announced today. Today, the FCA said it had been working with banks to finalise an agreement for them to remain on the panels they currently submit to until 2021 in order to ensure a more orderly transition. [...]
Gloomy UK consumers see confidence at the lowest level since Brexit referendum aftermath November 24, 2017 Confidence among British consumers fell sharply to its lowest level since the aftermath of the Brexit vote in November amid a worsening outlook for household finances and nerves around the housing market after interest rates rose. The consumer confidence measure published today by Yougov and the Centre for Economics and Business Research (CEBR) will show [...]