Reforming European Union insurance rules to release billions of pounds of capital is a key part of the UK government’s program to boost the economy. The market turmoil unleashed by the mini-budget may make such ambitions harder to deliver. The …
Britain’s new Prime Minister Liz Truss promised to “unshackle” the City of London to fuel growth, but crashing the bond market over tax cuts will take the shine off her “Big Bang” plan for financial services. Markets took fright last …
Britain’s Financial Conduct Authority (FCA) told banks and insurers on Thursday to do more to help customers struggling with a cost of living crisis as it investigates 40 banks for dragging their feet. Interest rates are increasing to quell decades …
The Bank of England’s new objective of helping the financial sector remain globally competitive should not encourage risky bets on regulatory standards to win business, BoE executive director Victoria Saporta said on Tuesday. Britain wants a “Big Bang 2.0” – …
Kwasi Kwarteng, the UK’s new chancellor of the exchequer, said the government will pursue sweeping financial reforms to unleash growth and competitiveness at a meeting Wednesday with industry leaders. The aim is to unleash a “Big Bang 2,” Kwarteng said, …
Some of Europe’s biggest banks are preparing back-up generators and to dim the lights as they brace for potential power cuts and energy rationing that threaten the money system underpinning the region’s economy. As Russia throttles gas supplies to the …
Liz Truss becomes Britain’s prime minister on Tuesday after a campaign in which she promised to “really unshackle” the City of London by making the most of Brexit in the 164-billion-pound ($192 billion) financial sector. WHAT’S HER PLAN? A stronger …
After an international career in finance, a rapid political rise and high profile as chancellor of the exchequer during the pandemic, Rishi Sunak must have expected the full-throated backing of the financial sector when he made a bid to lead …
Liz Truss, the front-runner to become Britain’s next prime minister, wants to examine the roles of the country’s three financial regulators as part of a review, a source close to her leadership campaign said on Thursday. Provided she wins the …
Financial services companies should set “stretching targets” for appointing people from working class backgrounds to senior positions, a UK government-sponsored report said on Thursday [Aug. 11]. The finance industry is already making efforts to appoint more women, Black and ethnic …
