Regulator launches review into consumer investment market September 15, 2020 The consumer investment market is not working as well as it should and it is due a fundamental review, according to the Financial Conduct Authority (FCA). Too often consumers are receiving lower returns than they should because of “unsuitable products with high fees”, the financial regulator said. It is launching a “call for input to [...]
Coronavirus: 700,000 jobs lost since March September 15, 2020 Almost 700,000 workers have lost their jobs since the coronavirus pandemic began in March, according to the latest government statistics. The HM Revenue and Customs and Office for National Statistics data showed early indicators for August suggest that the number of employees in the UK on payrolls was down around 695,000 compared with March. The [...]
BCC president warns Boris Johnson of ‘difficult winter ahead’ September 15, 2020 The president of the British Chambers of Commerce has warned the Prime Minister that businesses face the most difficult trading conditions in post-war history. In a letter to Boris Johnson, BCC president Baroness Ruby McGregor-Smith set out a series of measures to help government take a “sharper approach” to restarting the UK economy. “Prime Minister, [...]
Boris Johnson says Brexit deal breach will save UK from being ‘carved up’ September 14, 2020 Boris Johnson has said the UK must prepare to breach the Brexit withdrawal agreement in its new bill to stop Brussels from “dividing” the country as another senior Tory has decided to vote against the controversial legislation. Johnson told MPs today that Brussels was attempting to “blockade” goods travelling between Great Britain and Northern Ireland [...]
Brexit: Tory rebellion against withdrawal agreement breach grows September 14, 2020 Boris Johnson’s former attorney general Geoffrey Cox has vowed to not support the government’s plan to breach its Brexit withdrawal treaty. The Torridge and West Devon MP said he would not vote for the Internal Market Bill, when it comes before parliament in a series of votes this week, as it would ruin “the standing [...]
Brexit: UK’s justice secretary will not quit over international law breach September 13, 2020 Justice secretary Robert Buckland has said he will not resign his post after the government introduced controversial Brexit legislation this week that breaks international law. Buckland said the legislation – which could amount to a breach of the Brexit withdrawal agreement – is only an “insurance policy” and that he believed it would not come [...]
Tony Blair and Sir John Major urge government to drop plans to breach Brexit deal September 13, 2020 Former Prime Ministers Tony Blair and Sir John Major have warned that the government will ruin the UK’s international reputation if it goes ahead with its plan to breach the Brexit withdrawal agreement and break international law. The former adversaries said Boris Johnson’s plan “is shaming itself and embarrassing our nation”, and that his actions [...]
Post Office in talks over sale of telecoms division September 11, 2020 The Post Office is said to be in discussions over a sale of its telecoms arm and is mulling a sale of its insurance business as part of a shake-up under its new chief executive. The scandal-hit company has appointed bankers to oversee an auction of its telecoms division, which has half a million customers [...]
WIBF launches UK’s first cross-sector gender research programme in financial services September 11, 2020 We are delighted to announce the launch of the UK’s first cross-sector research programme, Accelerating Change Together (ACT) with the aim of driving policy change to better support and retain women working in financial services. The research will harness the collective input from banking, asset management, professional services, Fintech and insurance, to address the pressing [...]
UK economy grows 6.6 per cent in July as recovery continues September 11, 2020 The UK economy grew 6.6 per cent in July as it bounced back from the coronavirus lockdown of the spring, setting the stage for rapid GDP growth in the third quarter, official figures showed. The growth was slower than the 8.7 per cent expansion seen in June, however, and was from a low base after [...]