Vodafone chooses Britain to launch new jobs as part of multi-billion pound home investment March 13, 2017 Mobile operator Vodafone will today announce the creation of 2,100 jobs in one of the largest single UK employment expansions in recent years. The new roles are part of Vodafone’s ongoing £2bn investment in Britain. Customer service positions will be created in the north of England, the Midlands, Scotland and Wales Read more: Vodafone: Two reasons to [...]
What you need to know about Mark Tucker, the newly confirmed chairman of HSBC and former man from the Pru March 12, 2017 Mark Tucker, currently chief exec of AIA and once the man from the Pru, has been confirmed to replace HSBC's departing chairman Douglas Flint. But Tucker's life might have gone down a different path entirely as he once trained to be a professional football player. Although he may have hung up his boots for studying [...]
Charlotte Hogg may get a roasting from the MPs mulling whether she is fit for her job at the Bank of England, as banks slam her slip in ethics March 12, 2017 Charlotte Hogg's fate as a deputy governor at the Bank of England is facing renewed pressure, as MPs are busily mulling whether she is fit for her role. Hogg has come under fire in recent weeks for failing to declare her brother's job at Barclays as a potential conflict of interest. Prior to her promotion, she [...]
HSBC chairman search: Former man from the Pru Mark Tucker will replace Douglas Flint March 12, 2017 Mark Tucker, chief executive and president of AIA and former boss of Prudential, has been confirmed as chairman of HSBC, marking the first time the bank has appointed an external chairman. Tucker will receive an annual fee of £1.5m and a one-time relocation benefit of £300,000 for moving from Hong Kong to London. He will take up [...]
Inflation expectations hit highest levels since 2013, Bank of England survey finds March 10, 2017 Britons are anticipating big price rises over the coming year, new data from the Bank of England out today shows. Members of the public quizzed in February expect inflation to rise 2.9 per cent over the next year, up from a 2.8 per cent estimate in the Bank’s previous survey in November. The 2.9 per [...]
Brexit secretary David Davis says most sectors won’t need transition periods, because the government is aiming to get the best possible deal March 9, 2017 The Brexit secretary has insisted most sectors of the UK economy will not require transitional arrangements after the UK leaves the EU, as the proposed deal with Brussels should erase the need for them. "Our overarching offer, as it were, of a comprehensive free trade arrangement will actually remove the need for transition in some areas," David [...]
JP Morgan’s Jamie Dimon says Brexit job moves all about serving clients, as London faces declustering following UK departure from EU March 9, 2017 The boss of JP Morgan has said that any Brexit-related job moves will focus simply on serving clients. Jamie Dimon, whose bank heavily backed the campaign for Britain to Remain in the EU, said London's world-renowned cluster of financial and professional services firms could be fractured by Brexit. Many across the City are considering what moves they [...]
The road to Brexit: what next for shares, sterling and property? March 9, 2017 The UK government is expected to trigger Article 50 by the end of this month, signalling the start of a two-year process that will see the country leave the EU. The Brexit process started on 20 February 2016 when then Prime Minister David Cameroncalled a referendum on the UK’s membership of the EU. The [...]
The chancellor needs more than a rainy day fund to help Britain weather Brexit March 8, 2017 In his final Spring Budget, the chancellor was already weaning his audience from this once important spring affair, with little of significant economic policy substance announced. He was handed a gift by the Office for Budget Responsibility in the form of an upgraded outlook for 2017, in anticipation of more resilient consumer spending, although expectations for [...]
Budget 2017: Consumer-led growth is unsustainable says former Bank of England deputy governor Sir Charlie Bean March 8, 2017 The consumption-led growth which prompted the government’s economic watchdog to raise its forecasts for the UK economy this year is “unsustainable”, according to a former deputy governor of the Bank of England. Sir Charlie Bean said households “have been running down savings” to fund consumption. However, “that is not sustainable,” he said in a briefing [...]