Lloyds prepares for Brexit with Berlin banking licence January 18, 2019 Lloyds Banking Group has secured a banking license for its Berlin subsidiary as the Brexit deadline date approaches. The lender has previously run the office on a standard passporting licence, however all British banks with customers in the EU could lose the licence after March 29 therefore Lloyds is seeking further regulatory approval, Reuters reported. [...]
Theresa May tells Corbyn to drop ‘impossible’ demand of ruling out a no deal Brexit January 17, 2019 Theresa May and Jeremy Corbyn are at loggerheads after the Prime Minister refused to give in to Labour’s “impossible condition” of ruling out a no deal Brexit. In a letter to the Labour leader, May urged her opposite number to drop the demand – which is Corbyn’s precondition for any cross-party talks on breaking the [...]
London Assembly renews support for second referendum following Theresa May’s defeat January 17, 2019 The London Assembly has thrown its weight behind a second referendum following the Prime Minister's historic drubbing in the House of Commons over her Brexit deal. The motion, proposed by Labour assembly leader Len Duvall, restated the assembly's previous support for a second referendum and Sadiq Khan's call to withdraw Article 50, the mechanism that allows the UK to [...]
Vanguard founder and ‘father of indexing’ John Bogle dies aged 89 January 17, 2019 Vanguard Group founder and the “father of indexing” John Bogle has died at the age of 89, the company confirmed today. A pioneer of low-cost investing, Bogle formed Vanguard – which he described as the “Vanguard Experiment” – in 1975 and launched its first index mutual fund a year later, despite backlash from the rest [...]
Kier Group director leaves to join Grenfell Tower cladding building firm Rydon Construction January 17, 2019 Kier Group operations director Mark Norris is to leave the beleaguered contractor to join Rydon Construction as a director. Norris leaves Kier as it continues struggling with its finances after a botched issue late last year caused the company’s shares to plummet. Read more: Outsourcer Kier Group's lenders face underwriting headache after rights issue flounders He [...]
Hard Brexit risks ‘manageable’ says Irish central bank official January 17, 2019 The risks of a “cliff edge” Brexit to the stability of the Irish financial system are manageable and the majority of its “most significant” firms are already executing contingency plans, the Central Bank of Ireland deputy governor Ed Sibley said today. Sibley said: “I am satisfied that from a financial stability perspective the most material [...]
Crossrail moves away from gagging orders for departing staff amid transparency concerns January 17, 2019 Crossrail has heeded calls from Transport for London (TfL) to refrain from forcing departing staff to sign non-disclosure agreements (NDAs) in light of concerns raised about the organisation's transparency. NDAs are a type of legal contract that bind former employers to confidentiality restrictions. They attracted controversy in the Harvey Weinstein scandal, when it emerged that a number of his [...]
Brexit deal live: UK would vote to remain in EU in a second referendum January 17, 2019 Hello and welcome to our Brexit vote live blog. Stay tuned for reaction to Labour's no confidence vote yesterday, after Theresa May's Brexit deal slumped to a historic defeat in parliament on Tuesday night. Please manually refresh this page for the latest updates What you need to know: The Prime Minister’s deal was defeated by [...]
TfL working with Heathrow and London City airports to plan for no-deal Brexit January 17, 2019 Transport for London (TfL) is working with Heathrow and London City airports to mitigate the impacts of a no-deal Brexit, Sadiq Khan has said. London mayor Sadiq Khan said TfL was concerned that London could become clogged with heavy goods vehicles (HGVs) if the port of Tilbury is used more than Kent to carry traffic. Earlier this month [...]
Debenhams shares slide as Moody’s hands struggling retailer a negative outlook January 17, 2019 Debenhams’ share price slumped seven per cent in morning trading, after ratings agency Moody’s lowered its outlook for the beleaguered retailer from stable to negative. Concerns over the risks that creditors might incur when lending to the embattled department store chain were flagged by Moody’s, pushing shares in Debenhams down 7.26 per cent to 2.8p [...]
