An increasing number of the UK’s financial services firms expect a rise in loan defaults in the next three months, the latest reminder of a gloomy economic outlook. A balance of 23% of respondents to the CBI/PwC Financial Services Survey …
UK finance firms now have a higher proportion of women on their boards than their European counterparts, a rare boost for the City of London’s attempts to improve the industry’s diversity. Women made up 58% of new board appointments at …
After a jarring six months marked by sweeping policy promises, U-turns and four Chancellors of the Exchequer, UK financiers head into 2023 uncertain that the coming year will finally usher in substantive reforms to the City of London. Current Chancellor …
The UK set out a package of financial services reforms that cuts across dozens of areas but fell short of the “Big Bang” that politicians were promising earlier this year and is unlikely to deliver the dramatic reshaping that some …
The UK may be more ethnically and racially diverse than ever, but minorities working in the financial services industry continue to face discrimination, according to a new study. About 70% of ethnic minorities working in finance have experienced discrimination at …
Britain is just at the beginning of post-Brexit efforts to keep London a top global financial center, but deregulation will be selective to ensure high standards are kept, financial services minister Andrew Griffith said on Thursday. Finance represents one in …
Even after years of division and vitriol, it seems like Britain still needs to talk about Brexit. More than six years after voting to leave the European Union, the UK is facing a prolonged recession, a deep cost-of-living crisis and …
After years of fraught debate between regulators, insurers and the Treasury, Jeremy Hunt confirmed Thursday that the government would push forward with reforms to a corner of the City of London that’s intended to release billions of pounds of investment …
The British government and the Bank of England are reforming insurers’ capital rules, seen as a post-Brexit test of UK willingness to “unshackle” the City of London after leaving the European Union. Reform would potentially free up billions of pounds …
Bank of England Governor Andrew Bailey took the British government to task on Wednesday over its plan to give itself veto powers over post-Brexit financial rules written by independent regulators, including the central bank. Britain’s government has promised a deregulatory …
