Articles by Jill Ward and Francine Lacqua

Outgoing BoE Governor Discusses Risks of Negative Interest Rates, Climate Change

Mark Carney said he’s lucky he never had to cut interest rates below zero as Bank of England governor because they would have damaged the UK. Carney, who leaves the central bank next month, has long been opposed to negative …

World Economic Forum Sounds Alarms About Climate Change Risks

The World Economic Forum is sounding alarm bells on climate change, with environmental risks occupying the group’s top five long-term concerns for the first time on record. Extreme weather events, the failure of climate-change mitigation, major natural disasters, biodiversity loss …

Coastal Damages from Climate Change Could Cost U.K. Economy Billions by 2050: WWF

The U.K. economy could face hits of more than 12 billion pounds ($15.4 billion) a year by 2050 from coastal damages alone if no action is taken to combat climate change, according to the WWF. The calculations — made on …

Many Major Central Banks, Minus U.S. Fed, Taking Action on Climate Change Risks

Bank of England Governor Mark Carney was in no mood for laughter as he stood in his tuxedo before the great and good of the British insurance industry. “I’m going to give you a speech without a joke, I’m afraid,” …

Brexit Uncertainties Create Potential Legal Nightmare for UK Exporters

Business is brisk at Nim’s Fruit Crisps. Pineapples are imported from Costa Rica, kiwis from Italy and oranges and lemons from Spain. They’re then turned into healthy snacks for export to Israel, South Africa, Hong Kong and elsewhere. You wouldn’t …

Failure to Mitigate Climate Change, Cyber Attacks Are Top Global Threats: WEF

The failure to tackle climate change and extreme weather events are the most threatening global risks this year, according to the World Economic Forum. Inability to mitigate or adapt to climate change leapfrogged several places on the list as the …

Brexit Effect: Number of EU Nationals Working in UK Plunges During Q2

Further evidence that Brexit is deterring European Union workers emerged in figures published Tuesday [Aug. 14]. The number of EU nationals working in the U.K. in the three months through June plunged by 86,000 from a year earlier to 2.28 …

Bank of England Seeks Brexit Deal to Cover Derivative, Insurance Contracts

The Bank of England said an agreement is needed as part of the Brexit process to protect the “long-term validity” of 20 trillion pounds ($27.1 trillion) of existing derivative contracts. The BOE’s Financial Policy Committee said on Monday that after …

Capital Rules Eased for UK Banks, Insurers in Wake of Brexit Vote

Mark Carney pledged to shore up financial stability as he warned that the risks from Britain’s shock decision to leave the European Union have started to crystallize. “There is the prospect of a material slowing of the economy,” the Bank …

British Corporate Leaders Will Likely Vote to Remain in EU: UK Business Groups

British corporate leaders will likely vote for the U.K. to remain a part of the European Union, according to lobby groups for business, manufacturing and financial services. The Institute of Directors said the deal reached by Prime Minister David Cameron …