Brexit: City minister says UK changes to EU financial services rules is not ‘race to the bottom’ June 30, 2022 The UK’s changes to the EU’s catalogue of financial services rules will not become a “race to the bottom”, City minister John Glen has vowed. Glen today said the government had “an unshakeable abiding interest in a prosperous Europe” and that “it is time to put to bed” the notion that the EU will have [...]
Adding agency workers into the strikes row will nurture a prolonged political headache June 30, 2022 Last week, Grant Shapps, the Transport Secretary, defended plans to allow businesses to use agency staff to plug gaps caused by striking workers. For the unions, this is tantamount to cutting them off at the knees. Britain’s workforce has changed fundamentally since the law in question was introduced, in 2003. Agency workers are now part [...]
DeFi-ing the rules: five opportunities and five risks of decentralised finance June 29, 2022 In the Star Wars universe, the Force is a mystic energy field generated by living beings that binds the galaxy together. The ability to wield the Force gives Jedi Knights their superhuman abilities, making them peacekeepers of the galaxy. But how powerful would the Jedi be if every ‘transaction’ that used the Force had to [...]
Capita posts ‘strong’ first half results as BBC TV licensing contract boosts outsourcer’s revenues June 29, 2022 Capita today posted “strong” results for the first half of 2022, after a series of “significant” government contracts boosted its H1 revenues. The outsourcing company said trading in the first half of 2022 sat in line with expectations, as it said its revenues were bolstered by the renewal of a £456m contract to run the [...]
Oil round up: G7 stops short of unveiling mooted oil price cap while OPEC revels in rising revenues June 28, 2022 The G7 has stopped short of banning the transport of Russian oil above a certain price, and will instead just explore the option.
Sunak: UK has ‘tools at our disposal’ to tackle 40-year high inflation June 28, 2022 The UK has “the tools at our disposal” to tackle the worst inflation spike in four decades, the chancellor urged today. Responding to a grilling by MPs in the house of commons, chancellor Rishi Sunak said Britain is “not immune” to the inflationary “shocks” that are sweeping through the world’s richest economies. Prices have climbed [...]
G7 pledges to cap Russian oil as West ramps up sanctions on Kremlin June 27, 2022 The Group of Seven is preparing to cap Russian oil as part of a fresh package of sanctions in response to Russia's invasion of Ukraine.
There’s much benefit in cooperation with our Indo-Pacific friends as we boost trade June 27, 2022 Amidst high inflation and a difficult economic outlook, it would be easy for our country to turn inwards in search of a panacea. But to echo the sentiments of John Donne – a famous poet born in the City of London – “no man is an island, entire of itself”. The same is also true [...]
Tory MP warns of ‘conflicts of interest’ in UK’s accounting watchdog after FRC hired EY to advise on plans June 26, 2022 A Tory MP has warned of potential conflicts of interest inside the UK’s accounting watchdog, following reports that Britain’s Financial Reporting Council (FRC) brought in consultants from EY to advise on one of its plans. Tory MP Kevin Hollinrake hit out at the FRC for hiring advisors from the Big Four auditor, as the watchdog [...]
Exclusive: Sunak to unveil plan to slash EU financial services rules in Mansion House speech June 24, 2022 Rishi Sunak will unveil his plan to slash EU financial services regulations in a major set piece Mansion House speech next month. City A.M. understands the chancellor will announce details of his Financial Services and Markets Bill at the City’s annual Mansion House bankers’ dinner on 19 July and will introduce the legislation to the [...]