Solvency II reforms will not be a ‘free lunch’ for insurance sector, Bank of England says July 8, 2022 The Bank of England (BoE) has said its post-Brexit shakeup of the rules that govern the UK’s insurance industry will not be a “free lunch” for the sector, that puts policyholders at risk. In a speech on Friday, Sam Woods, chief executive of the BoE’s Prudential Regulation Authority (PRA) said policyholders must be protected as [...]
Top Hong Kong official to take over as FCA chair July 8, 2022 The Financial Conduct Authority has announced today that one of Hong Kong’s top financial officials will take over as chair of the watchdog next year.
The next Tory leader must either open his Red Box or win over the Red Wall July 8, 2022 Six years ago on the eve of the Brexit Referendum vote, I was given the job of following Boris Johnson around the Yorkshire town of Selby. He landed at a former WWII airfield joking that the helicopter pilot should have put on “Ride of the Valkyries” – (think Apocalypse Now) – as he came into [...]
Conservative MPs scramble to choose a new party leader July 7, 2022 The race to be the next Prime Minister of Great Britain and Northern Ireland began today as MPs scrambled to organise their Tory leadership campaigns. There is no obvious successor to Boris Johnson, with a wide field of candidates from all wings of the party expected to stand. The 1922 Committee of Tory backbenchers will [...]
Boris Johnson’s downfall is a story of wasted potential July 7, 2022 To sum up Boris Johnson’s political career you need only listen to Sir Nicholas Soames – the grandson of the outgoing PM’s hero Winston Churchill. “Boris is a chancer, he is a chancer … but that doesn’t alter the fact he’s extremely agreeable to have dinner with,” Soames once told BBC great Michael Cockerell. This [...]
LIVE BLOG: Boris Johnson ‘should not remain in Downing Street’ says former PM Sir John Major July 7, 2022 Welcome to City A.M.’s rolling coverage of the ongoing Conservative coup against prime minister Boris Johnson. We’ll bring you all the latest news, resignations, appointments, analysis and opinion, as well as the impact of the crisis on the markets and economy. 2pm – Former PM Sir John Major says Boris Johnson “should not remain in [...]
Starmer, Sturgeon and Davey respond to Boris Johnson’s resignation: Election, referendum and unity on the table July 7, 2022 Labour leader Keir Starmer has led the response to Boris Johnson’s impending resignation, saying he has been “Responsible for lies, scandal and fraud on an industrial scale” North of the border, the Scottish National Party’s Nicola Sturgeon saw the resignation as a renewed opportunity to push for independence, while Wales’ First Minister Mark Drakeford called [...]
The show must go on: Political drama and comedy for a post-Boris world July 7, 2022 The Big Dog has been sent away to live on a nice farm, but if your thirst for political intrigue remains unquenched, here are 10 dramas and comedies to see you through until recess. House of cards, 1990 Forget Kevin Spacey and go back to House of Cards’ Westminster roots. This seminal political thriller, taking [...]
Isolated Boris Johnson agrees to resign TODAY after all PM’s key ministers flee Downing Street July 7, 2022 Multiple sources are confirming Boris Johnson has agreed to stand down today. He will stay on as caretaker leader until new Tory leader elected this autumn. He will make a statement later today. The Prime Minister rejected calls to quit yesterday and dramatically sacked Cabinet rival Michael Gove, but was later hit with the departure [...]
Merciless verdict: ‘Mortally wounded’ Boris Johnson urged to leave Downing Street ‘with dignity’ July 7, 2022 If Boris Johnson picks up any of the papers this morning, it does not make fine reading for the Prime Minister as he is encouraged by almost all of the papers to abandon his attempts to save his premiership. The overall mood amid resignations and potential leadership challenges is best summarised by The Times’ leading [...]