Here’s everything we know so far about the new £20 polymer note – what it looks like, what it’s made of and when it comes out March 21, 2017 The first images of the proposed new £20 note have been released by the Bank of England. Made from the same plastic polymer which is currently used to make the new £5 note, the new note will feature an image of the acclaimed British artist JMW Turner. Turner was selected after Governor of the Bank, [...]
England rugby head coach Eddie Jones takes another corporate job with investment bank Nomura March 21, 2017 With the Six Nations wrapped up and no England rugby fixture for three months, Eddie Jones has taken on a new job. The England head coach, who suffered his first defeat after 18 matches in charge against Ireland on Saturday, has secured a second role in the financial sector after agreeing a “three-year partnership” with [...]
Emergency rate productivity hit was worth it to save 1.5m jobs, says Bank of England chief economist Andy Haldane March 20, 2017 Slashing interest rates in the aftermath of the financial crisis has saved 1.5m jobs, the Bank of England's chief economist said today. Speaking at the London School of Economics, Andy Haldane noted, while the ultra low interest rate environment had hampered productivity, it was worth it to keep over a million people in work compared with a [...]
Three charts showing why we remain very happy to hold UK banks March 20, 2017 Investors have tended to steer clear of the UK’s big banks since the financial crisis bit in 2008, when share prices plummeted and Lloyds and Royal Bank of Scotland (RBS) had to be bailed out with taxpayer money. As we tend to do, on our Value Perspective blog, we took a different view – arguing [...]
Three charts showing why we remain very happy to hold UK banks March 20, 2017 Investors have tended to steer clear of the UK’s big banks since the financial crisis bit in 2008, when share prices plummeted and Lloyds and Royal Bank of Scotland (RBS) had to be bailed out with taxpayer money. As we tend to do, on our Value Perspective blog, we took a different view – arguing [...]
Bank of England steps up to push along Co-op Bank rescue plans, amid worries buyers might be shying away from the struggling lender March 19, 2017 The Bank of England's regulatory team has begun making plans of its own for Co-op Bank, as they become increasingly impatient with the troubled lender's sale. The Co-op Bank, which is currently 20 per cent owned by the wider Co-operative Group, revealed last month it was looking for a buyer for the whole of the business. [...]
Gordon Brown has a third “patriotic” option in the debate over a second Scottish independence referendum March 18, 2017 Former Prime Minister Gordon Brown has an alternative to full-blown independence from the UK, as the debate over a second Scottish referendum ramps up. During a speech in Fife, Brown suggested giving Holyrood vast new powers, including the responsibility of signing treaties with other European and setting VAT – as long as it stays in the UK. Read [...]
Driverless cars will leave a big dent in the insurance industry according to the Bank of England March 17, 2017 The adoption of driverless cars will leave a massive dent in the car insurance market, according to the Bank of England, forcing insurers to team up with car firms as they transform their business. Economists at the Bank say their central forecast is for the UK motor insurance market to contract by 21 per cent [...]
Editor’s Notes: Only a lack of ambition can hold Britain back, says the Legatum Institute’s researcher tasked with finding the upside of the Brexit vote March 17, 2017 Britain faces an enormous challenge in the wake of Brexit, but the prize is more than worth the fight. That’s according to one experienced former trade negotiator who now finds himself at the heart of the UK’s trade debate. Shanker Singham is director of economic policy and prosperity studies at the Legatum Institute in London. He’s [...]