Brexit research group calls for bespoke equivalence deal to give financial sector access to Single Market January 12, 2017 A Brexit research group is calling for the government to consider striking a bespoke equivalence agreement as part of the EU departure deal to maintain access to the Single Market for the financial sector. In a report published today, which was compiled by law firm Norton Rose Fulbright on behalf of the Financial Services Negotiation [...]
City Moves for 9 January 2017 | Who’s switching jobs January 9, 2017 Scottish Friendly Scottish Friendly, Scotland’s biggest financial mutual, has appointed Neil Lovatt to its board as commercial director. Neil was previously Scottish Friendly’s sales and marketing director, a position he held for a decade, after 14 years of marketing experience at Scottish Life and Royal London. As commercial director, Neil will play a key role in the [...]
A £50bn Brexit bill could face the UK before it leaves the EU, according to the European Commission’s chief negotiator, Michel Barnier December 15, 2016 It could cost the UK £50bn to extricate itself from the EU if the European Commission’s chief negotiator has his way. Michel Barnier has indicated to multiple parties in the negotiation that the UK will have to pay between €50bn and €60bn (£50bn) in money still owed from earlier commitments, according to reports by Sky [...]
Building more homes will not solve London’s housing crisis – here’s why December 5, 2016 Let's be clear, the housing crisis is not a crisis just because there is a shortage in housing. It's a crisis because there is a real problem with our access to affordable housing and not enough is being done about it. London homes are the second most over-priced in the world, according to a recent [...]
Sports Direct is in the hot seat again this week December 4, 2016 Sports Direct will be in the spotlight again this week as it reports its interims on Thursday. Analysts are predicting chief executive Mike Ashley will announce a profit fall of 25 per cent to £170m. The City will also be looking for signs that Sports Direct is improving its corporate governance, something the retailer promised to focus [...]
Business should embrace the government’s radical corporate governance proposals to strike a better relationship with the public November 29, 2016 What is it about luxury yachts that seems to get policy-makers so worked up? The UK’s Corporate Governance Code will be 25 years old next year and it’s worth reflecting on why it came into existence. It was the collapse of Robert Maxwell’s business empire that led to the first Cadbury Code, which has evolved [...]
Sports Direct accounts probe announced by watchdog November 28, 2016 The accountancy watchdog has today launched an investigation into Sports Direct, probing into claims surrounding the relationship between the retailer and a firm run by chief exec and founder Mike Ashley's brother. In particular, the Financial Reporting Council (FRC) is taking a closer look at the accounts for the 52 weeks to 24 April and whether [...]
How the chancellor can unlock more private capital for infrastructure November 23, 2016 Chancellor Philip Hammond is widely expected to outline a more flexible approach to deficit reduction when he delivers his first Autumn Statement today. Flexibility seems wise, given the scale of uncertainty as the UK prepares to leave the EU. Ministers have identified investment in infrastructure as a means to boost the UK’s competitive standing. In [...]
High Court to decide on judicial review for fracking proposals in North Yorkshire November 22, 2016 British High Court judges will announce whether they will back a judicial review into proposals to use test hydraulic fracturing – or fracking – in North Yorkshire. Any review would likely be held this week, but if the application is not successful gas company Third Energy will be able to continue work on the site. Third [...]
Transport for London offers to pay for the funerals of Croydon tram crash victims November 16, 2016 Transport for London (TfL) has offered to pay for the funerals of the seven victims of the Croydon tram crash on 9 November. Six men and one woman died, while 51 others were injured, after a tram derailed. TfL pledged to do "everything we can to support the families and all those affected". Read more: Watch: [...]