Sir Richard Branson: No new investment in Brexit Britain December 13, 2022 Sir Richard Branson has ruled out investing new cash in the UK for the foreseeable future, claiming the economy has been hamstrung by trade barriers and “red tape” brought on by Brexit.
Octopus’ deal for Bulb could breach EU state aid rules, argues Centrica December 12, 2022 The sale of Bulb Energy to Octopus Energy could breach EU state aid rules in Northern Ireland, argued Centrica.
Microsoft becomes shareholder in the London Stock Exchange Group December 12, 2022 Microsoft snapped up a stake in the London Stock Exchange Group this morning, as big tech continues to disrupt the world of trading. As part of the deal, Microsoft will buy a four per cent stake in the exchange worth about £1.5bn from Blackstone, Thomson Reuters, Canada Pension Plan Investment Board and Singapore’s sovereign wealth [...]
Our secret services need to learn how to come out into the open to succeed December 12, 2022 We know very little about our intelligence agencies. Secrecy has long been the British way: Harold Macmillan summed the attitude up when, in 1963, he was asked in the House of Commons about Kim Philby’s defection to Moscow. The old actor-manager replied wearily, “It is dangerous and bad for our general national interest to discuss [...]
City minister says ‘world’s moved on’ from post-2008 financial services reforms December 11, 2022 City minister Andrew Griffith has said “the world’s moved on” since the 2008 global financial crisis in an attempt to calm concerns about the easing of the UK’s bank ring-fencing regime. Griffith told City A.M. that the regulation, which will be relaxed as a part of newly announced post-Brexit reforms, was acting as “an impediment” on some [...]
Sunak delays Northern Ireland Protocol Bill in bid to strike deal with EU December 11, 2022 Rishi Sunak is set to delay plans to unilaterally rip up the Northern Ireland Protocol Bill as he tries to broker a deal with Brussels to fix the post-Brexit treaty. The Prime Minister has decided not to bring the controversial Northern Ireland Protocol Bill back to the House of Lords this year, after UK-EU relations [...]
Big Bang 2.0: Financial institutions welcome Jeremy Hunt’s Edinburgh reforms December 10, 2022 Leading financial institutions have welcomed Chancellor Jeremy Hunt’s Edinburgh reforms, which set out to “turbocharge” the UK’s growth. Announced yesterday, the plans aim to “seize the benefits of Brexit” by delivering the biggest shake-up in the financial sector for 30 years. According to UK Finance’s chief executive David Postings, the package is “a major step [...]
‘Carried away’: Kwasi Kwarteng admits Truss government ‘blew it’ over mini-budget December 10, 2022 Former Chancellor Kwasi Kwarteng has admitted that Liz Truss’s government “blew it” when it came to the economic reforms proposed in the mini-budget. “People got carried away, myself included,” he told the Financial Times. “There was a brief moment and the people in charge, myself included, blew it.” Kwarteng was ousted from government after he [...]
England v France TONIGHT: Why World Cup opponents’ rivalry lacks spice December 10, 2022 For two neighbouring countries with such a long history of conflict and mutual suspicion, England’s World Cup quarter-final with France tonight is curiously short on piquancy. There is no love lost when the nations’ rugby teams meet each year in Le Crunch, while recent political developments have soured more than a century of Entente Cordiale. [...]
What’s that coming over the hill? Is it regulation? December 9, 2022 IDnow's Jason Tucker-Feltham believes the FTX collapse has invited the inevitable, but urges crypto companies to embrace regulation.