Sadiq Khan will tonight vow to push Theresa May for “creative” solutions to secure Single Market access September 5, 2016 London mayor Sadiq Khan will tonight vow to push Theresa May's government for “creative” solutions to secure Single Market access for the UK's financial services sector. Speaking to an audience of City bigwigs at the annual Lloyd's of London City dinner, Khan is expected to name protecting the financial services sector as the number one priority in [...]
Businesses feel confident in their future but consumer confidence slumps to the low recorded post-Brexit vote November 30, 2017 Confidence in business prospects has risen to its highest level since April 2017, while consumer confidence has dipped to the lows recorded in the wake of the Brexit vote, according to new figures out today. Lloyds Bank’s business barometer for November found that business confidence dipped two points to 24 per cent, and economic optimism [...]
Senior bankers are pushing the government to bring in transitional measures for Brexit, and warning of a “cliff edge” of disruption September 7, 2016 Britain's bankers are pushing for transitional arrangements to soften the impact of Brexit. Banks are currently adopting a “wait and see” approach on whether to remain in the UK, according to the chief executive of the British Bankers' Association, but Browne said that transition measures could soften uncertainty and the risks of a “cliff edge” of [...]
Does the government think Single Market membership is “highly improbable”? It depends who you ask… September 6, 2016 Confusion has broken out over the government's stance on Single Market membership after Downing Street refused to back the Brexit minister's views on Europe. Brexit minister David Davis made his first ministerial statement since being appointed May's secretary of state for exiting the European Union yesterday. And responding to a question from former small business [...]
Most affordable London commuter towns: How a one hour commute can save buyers £500,000 on London house prices October 30, 2017 Living an hour outside London could slash half a million pounds off house prices compared with buying a home in zones one and two of the capital, according to new research. Commuter towns such as Crawley, Windsor, Rochester and Peterborough have an average house prices of £316,000, a survey by Lloyds Bank has found. That [...]
Bank of England approves 19 insurers’ solvency II models for capital ratios ahead of EU 2016 rules, including Aviva, Prudential and Lloyds of London December 6, 2015 Several of Britain's biggest insurance firms, including Aviva, Prudential and Lloyds of London have been given the thumbs up by the Bank of England for new rules governing how much capital they should hold. The Solvency II capital rules which come into force across the EU from the start of next year, mean insurers are able [...]
City passporting rights must be at the top of the government agenda on Brexit talks, according to an influential think tank September 7, 2016 City passporting rights must become the government's first priority following Brexit, according to an influential think tank, which also argues that London can remain Europe's leading financial services centre. A paper from the Margaret Thatcher founded Centre for Policy Studies today argues that while Brexit will bring challenges for the UK's financial services industry, it [...]
Goldman Sachs boss Lloyd Blankfein gets in a dig against the City with Frankfurt tweet October 19, 2017 Lloyd Blankfein made a cheeky dig at the UK on social media today. The Goldman Sachs chief executive was tweeting about a visit to Frankfurt, in which he said: “Great meetings, great weather, really enjoyed it. Good, because I’ll be spending a lot more time there.” He followed this up with #Brexit. Just left Frankfurt. [...]
Credit rating giant S&P says UK banks are now better placed to deal with Brexit November 15, 2017 The outlook for British banks has brightened according to a leading credit rating agency, with lenders now in a better position to cope with the run-up to Brexit. Standard and Poor’s said last night it has revised the negative outlook on several large UK banks “mostly to stable, and in some specific cases to positive,” [...]
Luxembourg finance minister warns EU against strict Brexit approach letting the City of London ‘drift away’ October 23, 2017 Luxembourg’s finance minister has warned EU leaders that taking a hard line approach towards a Brexit deal risks letting the City “drift away into the Atlantic”. Pierre Gramegna urged leaders to strike a collaborative accord allowing the “number one financial centre in the world” to stay well connected to Europe. “I think that it is [...]