Bank of England to set up climate change stress tests December 18, 2019 The UK’s top banks and insurers may be tested together in 2021 for the financial impact of climate change, according to a new Bank of England paper. The tests would include three different scenarios and would assess how firms would deal with more frequent weather events and mass sell-offs of “brown assets” – those considered [...]
Emily Thornberry announces Labour leadership bid December 18, 2019 Emily Thornberry has all but confirmed she will run for the leadership of the Labour Party. Thornberry criticised her party’s decision to agree to an election, which she said was always going to be about Brexit. Read more: ‘You can’t make s**t up about me’: Emily Thornberry launches legal action against ex-Labour MP She said [...]
Experts unsure about the effect of air pollution on the Tube December 18, 2019 The effects of the high levels of dust and air pollution throughout London’s Tube system is unknown, according to a new report. A London Assembly report into Tube dust confirmed that “concentrations of particulate matter on underground platforms” are much higher than outside. Read more: London Underground has the city’s highest level of air pollution [...]
Queen’s Speech: Everything you need to know December 18, 2019 Queen Elizabeth II will make the trip from the palace to Westminster tomorrow to deliver her second Queen’s Speech in less than three months. She will lay out the new government’s agenda in the speech, while also officially opening parliament for a new term. Read more: Queen’s Speech plots path for pensions dashboards and new [...]
TfL and Sadiq Khan to write to government in funding bid December 16, 2019 Sadiq Khan and Transport for London (TfL) will write to the new government in a bid to secure funding for several big ticket transport projects. TfL’s newly released five-year business plan said the government’s 2019 spending round statement had not provided long-term funding certainty past 2021. Read more: Crossrail delay until 2021 may cost London [...]
London mayor Sadiq Khan slams Jeremy Corbyn and tells him to go ‘quickly’ December 16, 2019 Sadiq Khan has savaged Jeremy Corbyn in the aftermath of Labour’s historic election defeat, saying he needs to “quickly” step down as leader. The Labour mayor of London criticised Corbyn for his role in the party’s landslide defeat, saying much of it had to do with him not being “credible”. Read more: ‘You can’t make [...]
‘You can’t make s*** up about me’: Emily Thornberry launches legal action against ex-Labour MP Caroline Flint December 16, 2019 Labour plunged into internal fighting today following the party’s heavy election defeat after shadow foreign secretary Emily Thornberry filed legal action against former MP Caroline Flint. Flint, who lost her her Don Valley seat on Thursday after holding it for 22 years, claimed yesterday that Thornberry had called her constituents “stupid” for voting to leave [...]
Virgin Money share price falls after Barclays downgrade December 16, 2019 Shares in Virgin Money are down by more than five per cent today after Barclays downgraded its rating. Barclays analysts shifted Virgin Money’s stock from equal weight to underweight, signifying a pessimistic outlook, today. Read more: Virgin Money cancels dividend after £385m PPI hit The downgrade was made due to weak earnings, high growth in [...]
Canada grandees celebrate Conservative majority December 15, 2019 City heavyweights have lined up to express bullish excitement about the Square Mile’s prospects after the Conservatives’ landslide election win. Boris Johnson’s self-proclaimed “stonking” majority means the UKwill leave the EU by 31 January, which pundits say will provide desperately needed clarity for the financial sector. Read more: UK stocks surge after Conservative win ends [...]
Labour’s period of reflection quickly turns into heated leadership race December 15, 2019 Labour’s post-election period of reflection has already turned into a factional race to succeed Jeremy Corbyn as MPs came out swinging yesterday. The party looks set for a factional showdown as those on the Corbynite left face off against Labour moderates. Read more: John McDonnell apologises for loss before blaming the media for result Both [...]
