The BBC releases a recording of an October 2008 phone call between two bankers at Barclays in which one said he was under “serious pressure” from the Bank of England to set an artificially low rate for Libor, an inter-bank borrowing rate.
With a day to go before UK prime minister Theresa May triggers Article 50 to start separation talks with the EU, the Bank of England is warning UK banks to prepare themselves in case of a disorderly Brexit. But, as Ivor Bennett reports, the eve of Brexit also attracts a vote of confidence from Qatar as its sovereign wealth fund pledges over $6 billion in investment in Britain. Continue reading
UK manufacturing showed solid growth in October thanks to exchange rates driving up new orders, according to the latest data. But as Ivor Bennett reports, sterling could fall even further than some might want – a new poll forecasting lows of $1.15 when Britain starts formal divorce proceedings from the EU.
British consumer spending picks up last month, according to a survey from card company Visa UK that bucked other signs Britons have become more cautious since June, when they voted to leave the European Union.
A ten-week countdown to the UK Brexit referendum begins with the launch of the official campaigns by both sides in the debate. As Julian Satterthwaite reports, it comes amid more warnings on what it could all mean for the UK economy and financial sector. Continue reading
The United States and Britain will test later this month how its regulators would respond if their financial sectors suffered a major cyber-attack or broader IT problems.
Thousands of protesters gather outside the Bank of England in central London to begin an anti-austerity march through the city.