Articles by Andy Bruce and David Milliken

Bank of England to Issue Rules for How Banks, Insurers Should Manage Climate Risk

The Bank of England will soon spell out how it wants banks, insurers and investment companies to manage the financial risks from climate change, Governor Mark Carney said on Thursday. The central bank under Carney has been vocal in highlighting …

UK Prime Minister’s Party Opposes Brexit Deal, as Uncertainty Hits Economy

British Prime Minister Theresa May’s bid to push her Brexit plans through parliament was dealt another blow on Friday when a survey showed most of her own party’s members oppose the agreement and would prefer to leave the EU without …

No-Deal Brexit Could Push UK into Lengthy Recession, Warns S&P

A no-deal Brexit would be likely to tip Britain into a recession as long as the downturn that followed the global financial crisis, and investors should no longer ignore this danger, credit ratings agency Standard & Poor’s said on Tuesday. …

IMF Contends Failure to Reach Brexit Deal Will Shrink British Economy

Britain’s economy will shrink if it leaves the European Union without a Brexit deal and it will suffer some damage whatever terms it agrees, the International Monetary Fund said on Monday, challenging the promises of some Brexit supporters. The Fund …

UK Employers Plan Hiring Despite Brexit Worries

British employers plan to hire more workers and raise pay more quickly in 2018, but they also fear that Brexit will make the country a less attractive place to do business, a survey showed on Tuesday. Fifty-one percent of employers …

UK Faces Bad Deal for Brexit, Gloomy Outlook: S&P, Fitch

Standard and Poor’s and Fitch held their credit ratings for Britain unchanged on Friday [Oct. 27], but both remained gloomy about the outlook due to the likelihood of the country reaching a bad deal in its divorce talks with the …

Bank of England Survey Bolsters View of Weaker UK Economy

Growth slowed across British business services and consumer spending eased last month, a Bank of England survey showed, offering a more mixed picture of the economy than some of the gloomier indicators since June’s Brexit vote. The BoE released some …

S&P and Fitch Chop Britain’s ‘AAA’ Rating After Brexit Vote

Britain suffered further blows to its economic standing on Monday as two top ratings agencies downgraded its sovereign credit score, judging last week’s vote to leave the European Union would hurt its economy. Standard & Poor’s stripped Britain of its …