LONDON – Banks and insurers that fail to manage climate risks as a “first-order” issue could face a 10% to 15% hit to annual profits and higher capital requirements, the Bank of England (BoE) said on Tuesday. In its first …
LONDON – Around 40% of British companies that import and export said the shift to a new trading arrangement with the European Union had made trade more cumbersome last month, a survey showed on Thursday. The report from HSBC UK …
Britain should not submit to the European Union’s financial services rules just to get better access to the bloc’s market after Brexit, Bank of England Governor Andrew Bailey said on Wednesday. European daily share trading worth 6 billion euros ($7.36 …
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 …
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 …
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. …
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 …
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 …
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 …
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 …
