HSBC UK expected to name former London Stock Exchange boss as chair October 31, 2016 Dame Clara Furse is close to being named chair of HSBC UK, the new ring-fenced retail bank, it has emerged. The former chief executive of the London Stock Exchange Group could be appointed as early as tomorrow, Sky News first reported. As part of the move – which would be subject to regulatory approval – she would [...]
As he commits to stay until 2019, have political attacks on Mark Carney undermined the Bank of England’s independence? October 31, 2016 Kathleen Brooks, research director at City Index, says Yes. While the Bank of England’s decision-making has not been affected by recent political attacks, the fact that the government thinks that the Bank is fair game for criticism could undermine the perception of the Bank’s independence in future. Although it’s unlikely that it will take political [...]
Mark Carney to step down as governor of the Bank of England in 2019 October 31, 2016 Mark Carney, the governor of the Bank of England, has said he will stay in his role until 2019 to help secure an "orderly transition to the UK's new relationship with Europe". Carney, who was appointed to the role in 2012, was appointed for eight years, but made it clear he only intended to serve [...]
Spooky sterling: Pound spikes against the dollar October 31, 2016 The pound has jumped 0.2 per cent up against the US dollar as October trading revealed sterling's worst monthly performance since the June referendum. The pound leaped up by half a cent against the dollar to $1.2217 at around 16.00 GMT today, though the reason isn't certain. It's also up half a per cent against the euro, to €1.114. This was [...]
Here’s what Martin Sorrell thinks about Mark Carney, Philip Hammond and Brexiting Britain’s economic prospects October 31, 2016 WPP chief executive Sir Martin Sorrell has given his backing to Mark Carney, saying his departure from the Bank of England would be “disastrous”. Speaking to City A.M., Sorrell also expressed his support for chancellor Philip Hammond but said he was concerned over the suggestion of tension between him and the Prime Minister. Despite WPP [...]
Carney “absolutely” best man for the job says Downing St October 31, 2016 Theresa May has publicly backed the governor of the Bank of England, Mark Carney, saying he is "absolutely" the best man for the job. The prime minister's spokesperson told reporters today that May was "clear in her support" for Carney, and supported him staying in his post. "The PM would certainly be supportive [for him [...]
September mortgage approvals well behind 2015 levels but edge up on August numbers October 31, 2016 UK mortgage approvals flopped nearly 10 per cent in September compared to last year, the Bank of England reported this morning. Although the figures did bounce back from the 19-month low recorded in August, the 62,932 approvals were well behind the 69,619 recorded in September 2015. Read more: Time to remortgage? Fixed rates are low, but watch out [...]
Here are all the rail and station closures in London over Christmas October 31, 2016 Brace yourselves, commuters. There have been many headlines about incoming Christmas travel chaos, and now Network Rail has announced major station closures as an extensive programme of rail improvements goes ahead, it looks like there'll be a few more yet… Read more: Could Network Rail have to go cap in hand to the government? Rail [...]
Mark Carney has just been accused by Brexiteer Daniel Hannan of behaving like a “rock star banker” October 31, 2016 Conservative MEP for South East England Daniel Hannan has criticised Mark Carney for acting like "a rock star banker" on BBC Radio 4. On the Today programme this morning, Hannan, who has been a long-term supporter of Brexit and a long-term critic of Carney (who warned of the consequences should Britain leave the EU) said: "If you do stay, [...]
We can renew London once again post-Brexit – if we channel the can-do spirit of our ancestors in facing up to our housing and infrastructure challenges October 31, 2016 London has always risen again. This is the 350th anniversary of its greatest resurrection. Our ancestors in 1666 reacted to the Great Fire with a speed and coordination that defies belief. They tax-incentivised developers, ran the first national charitable appeal, invented modern fire insurance, and worked day and night for free. Compared with the Great Fire, [...]