Explainer: Britain and regulators square up over post-Brexit financial reform

LONDON, Aug 11 (Reuters) – Britain’s government proposed a far-reaching financial services law last month to exploit “freedoms” to write its own capital market rules since leaving the European Union. Approval of what is the biggest market reform in two decades is expected by May 2023. Liz Truss, the front-runner to become Britain’s next prime … Read more

Truss backs powers to override financial watchdogs, says FT

Conservative leadership candidate Liz Truss attends a hustings event, part of the Conservative Party leadership campaign, in Darlington, Britain August 9, 2022. REUTERS/Scott Heppell Register now for FREE unlimited access to Reuters.com Register LONDON, Aug 10 (Reuters) – Liz Truss, the front-runner to become Britain’s next prime minister, will give ministers powers to override financial … Read more

UK PM hopeful Liz Truss vows to reform economy, keep taxes low

Britain’s Conservative Party leadership candidate Liz Truss attends a hustings event, part of the Conservative party leadership campaign, in Cardiff, Britain, August 3, 2022. REUTERS/Peter Nicholls Register now for FREE unlimited access to Reuters.com Register LONDON, Aug 5 (Reuters) – Liz Truss, the front-runner to be Britain’s next prime minister, said on Friday that she … Read more

UK finance minister confident Britain can overcome economic challenges

British Chancellor of the Exchequer and Conservative leadership candidate Nadhim Zahawi leaves a television studio in London, Britain, July 13, 2022. REUTERS/Henry Nicholls Register now for FREE unlimited access to Reuters.com Register LONDON, Aug 4 (Reuters) – British finance minister Nadhim Zahawi said he was confident the country was taking the right actions to overcome … Read more

UK leadership candidate Sunak: Next government must grip inflation

People queue for food in the financial district of Canary Wharf, London, Britain, May 18, 2022. REUTERS/Kevin Coombs Register now for FREE unlimited access to Reuters.com Register LONDON, Aug 4 (Reuters) – Former finance minister Rishi Sunak, one of two candidates vying to be Britain’s next prime minister, said the country’s next government must deal … Read more

Analysis: ‘Big Bang 2.0’ up in smoke as Britain’s finance law reforms underwhelm industry

Law empowers regulators to design divergent rules in future Some key changes echo moves already taken by European Union Crisis-era bank taxes, capital demands left unchanged LONDON, July 20 (Reuters) – Britain’s reform of post -Brexit financial services is more about catching up with rivals than unleashing a ‘Big Bang 2.0’ as it sidesteps calls … Read more

New UK finance minister targets inflation, ‘sound finances’

Britain’s Chancellor of the Exchequer Nadhim Zahawi speaks with a customer during a visit of an ASDA supermarket, to mark the first Cost of Living Payments being issued, in London, Britain July 14, 2022. Justin Tallis/Pool via REUTERS Register now for FREE unlimited access to Reuters.com Register LONDON, July 18 (Reuters) – Britain’s government must … Read more

Bank of Canada makes a splash with developed economies’ first 100 pointer

July 13 (Reuters) – The Bank of Canada on Wednesday delivered the first 100-basis-point rate increase among the world’s advanced economies in the current policy-tightening cycle as officials there eyeballed “higher and more persistent” inflation. read more In delivering their largest rate increase since 1998, BOC policymakers also noted the increased risk of price increases … Read more

Analysis: Tax-cut talk in UK leadership race adds to inflation angst

LONDON, July 11 (Reuters) – Promises of tax cuts from candidates to succeed British Prime Minister Boris Johnson pose another inflationary risk which could pressure the Bank of England to raise interest rates more aggressively, canceling out any potential boost to the economy. Most of the 11 contenders, trying to portray themselves as defenders of … Read more

UK jobs market lost a bit more steam in June, REC says

A lorry driver passes a sign on the side of his vehicle advertising for jobs as he makes a delivery, in London, Britain, October 13, 2021. REUTERS/Toby Melville Register now for FREE unlimited access to Reuters.com Register LONDON, July 8 (Reuters) – British employers slowed their hiring via recruitment agencies once again in June as … Read more