HSBC boss Stuart Gulliver memo: “Sometimes we failed to live up to standards expected by society” February 13, 2015 HSBC boss Stuart Gulliver has admitted in a memo to the bank's staff that it failed to live up to expectations, after it was accused of helping thousands of customers of its Swiss private banking arm to evade tax. Reuters reported today that the memo also indicated he had been called to give evidence to "lawmakers". [...]
Merkel refuses to budge on Greek debt repayments: “Europe’s credibility depends on us sticking to the rules” February 13, 2015 German Chancellor Angela Merkel has taken a hard line with Greece: the country's options are limited to completing all the requirements of the €172bn (£127.5bn) bailout or asking for an extension, she said last night. Ostensibly at least, there is no wiggle room for Athens, and no room for its preferred option of a revised [...]
Bank of England’s Mark Carney: Interest rate cut is possible as UK heads toward deflation February 12, 2015 Bank of England governor Mark Carney revealed yesterday that interest rates could drop even further below their historic low of 0.5 per cent, as the collapse in global oil prices drags Britain towards deflation. In a mandatory letter to chancellor George Osborne, Carney said that if “global activity continues to disappoint, or if low inflation [...]
Ukip’s Nigel Farage claims “corporatism” has made us “victims of the economy” February 12, 2015 Today, Nigel Farage spoke of the dangers of “corporatism” during a speech on Ukip's vision for the future of Britain. At Castle Point in Essex, where Ukip candidate Jamie Huntman is currently standing, Farage said the current system made us “victims of our own economy”, and that we are living under a “lethal [...]
Greece bailout deadline: ECB raises pressure for agreement but extends new loans to Greek banks February 12, 2015 Greek banks have been given an extra €5bn (£3.7bn) worth of emergency loans by the European Central Bank (ECB). The decision was made during a phone call between members of the bank's governing council earlier today, and will take the country's emergency funding up from €60bn (£44bn) to €65bn (£48bn). "It is key that [...]
Ukraine crisis: Vladimir Putin announces ceasefire after Minsk talks February 12, 2015 Russian President Vladimir Putin has announced that a ceasefire for eastern Ukraine will begin on 15 February. The announcement comes after marathon talks in Minsk, which swayed between reports a deal could be imminent and claims that Russia's terms were unacceptable. With the news comes an announcement from the IMF, which reported it would replace [...]
Ukraine crisis: Valdimir Putin and Petro Poroshenko agree to sign joint document – reports February 12, 2015 It had seemed could be light at the end of the tunnel for Ukraine. After marathon peace talks in Minsk involving Russian President Vladimir Putin, Belarussian President Alexander Lukashenko, German Chancellor Angela Merkel, French President Francois Hollande, and Ukrainian President Petro Poroshenko it was reported that both Putin and Poroshenko would sign a joint document; offering [...]
SNP leader Nicola Sturgeon calls for boost to UK state spending February 11, 2015 As the Scottish First Minister sets out her election agenda, Chris Papadopoullos reports from University College London Scottish National Party (SNP) leader Nicola Sturgeon ventured to University College London (UCL) yesterday where she received the backing of loyalists and anti-cuts activists, as she laid out her election pledges. “I am impressed with Sturgeon thus far, [...]
Boris Johnson’s mini-Manhattan in Old Oak Common: Why we must speak up for local housing needs February 11, 2015 London’s population is at an all-time high. By 2020, we will have over 9m people living in our city; 10m by 2030. So it is essential that we plan for the growing needs of the capital. London needs a transport system fit for the 21st century. We need a thriving jobs market built on secure, [...]
Greece Eurogroup meeting: Finance Minister Yanis Varoufakis lists four key principles for renegotiation February 11, 2015 Today, Greece's finance minister met with leaders from the Eurozone's other member states to discuss a renegotiation of its bailout package. Yanis Varoufakis is part of the radical left party Syriza, which won a parliamentary vote on 25 January on the back of its promise to bring the country out of austerity. It [...]
