New plans to ban the sale of new-build homes in England under leasehold have been unveiled, as the government called it a sign of the “broken housing market”. Buyers have been caught in spiralling costs and fees, which can make homes virtually impossible to sell.
Household debt can be dangerous when it’s taken to excess, the Bank of England has warned – telling high street banks, credit card firms and car loan providers they risk fresh action against reckless lending. The bank’s director for financial stability Alex Brazier said banks were getting into a “spiral of complacency” over mounting levels…
The Grenfell fire has brought into focus the bodies running much of Britain’s social housing – tenant management organisations, or TMOs. Kensington and Chelsea TMO, which ran Grenfell Tower and was responsible for its refurbishment, is the biggest in Britain, with nearly 10,000 properties and thousands of tenants. TMOs, especially Kensington and Chelsea, have been…
Inflation has been on the rise while wages are being squeezed, and now there’s even more gloomy news for the British economy. The IMF has slashed its growth forecast for the year in its first downgrade since the Brexit vote, blaming the UK’s “tepid” performance in the first three months of the year.
The Prime Minister’s review into workers’ conditions has called for all work in the UK to be “fair and decent”, paying particular attention to short-term, so-called gig economy roles. Mrs May said she’d take the report’s recommendations seriously, but it has been criticised by trades unions for tinkering at the edges.
All work should be fair and decent and staff should be treated like human beings, not cogs in a machine. The words of Matthew Taylor, who’s been carrying out an independent review for the Government on what’s known as the gig economy, and how workers at new-style companies like Deliveroo or Uber should be better…
I’m joined by the deputy leader of the Labour Party Tom Watson who played a significant role in bringing the News International phone hacking scandal out into the open.
Rupert Murdoch’s £1.7 billion bid to take full control of Sky looks set to be investigated by the competition watchdog – after the Culture Secretary said she was “minded” to refer it for further inquiry.
Andy Haldane, chief economist of the Bank of England, caused waves on the foreign exchanges yesterday after he disagreed with the Bank’s governor by suggesting interest rates should go up.
It will be the first case of its kind in Britain: four senior bankers facing criminal charges over their money-raising operations during the 2008 financial crash. After a five-year investigation, the Serious Fraud Office has accused the men – and the bank itself – of fraud over arrangements with Qatari investors to help Barclays Bank…
Former Treasury Chief Secretary, Labour MP Liam Byrne, and Financial Times US editor Gillian Tett discuss the Barclays fraud allegations.
Nine years on from the crash, Barclays Bank and four former top executives are charged with committing criminal fraud.
Siobhan Kennedy
It’s difficult to overstate the significance of the Serious Fraud Office’s charges against Barclays PLC and the four senior Barclays bankers- including John Varley, its former boss and one of the most high profile names in the City.
A tumultuous night on the markets: the pound has slid still further against the dollar and the Euro – although the result has sent share prices up.
The boss of British Airways has insisted that outsourcing jobs and cost cutting was not to blame for the ‘catastrophic’ computer system failure which left tens of thousands of passengers stranded. He has insisted he would be staying in his job.
