Entries by admin

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Treasury Minister Jim O’Neill resigns

Former Goldman Sachs chief economist Jim O’Neill steps down from finance ministry role LONDON, Sept 23 (Reuters) – High-profile British Treasury Minister Jim O’Neill, a former Goldman Sachs chief economist, has resigned from his role at the country’s finance ministry, the government said on Friday. O’Neill is a member of the unelected upper house of […]

Is Bank of England governor planning to step down?

Canadian Mark Carney to announce before year end whether he will step down or extend his stay LONDON, Sept 23 (Reuters) – Mark Carney has been taking the big decisions for Britain’s economy for the past three years, but his next one will be much more personal. The Canadian has said he intends to say before […]

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Sterling slips backwards again as week ends

Brexit worries keep pressure on sterling LONDON, Sept 23 (Reuters) – Sterling slipped back towards $1.30 on Friday, ending the week in much the same place as it started, with worries over Britain’s exit from the European Union keeping pressure on the currency. The pound had jumped back over $1.31 on Thursday, after Bank of […]

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Hinkley Point nuclear power plant contracts not enough to save UK steelmakers

Survival of the British steel industry needs more infrastructure projects, amid worries that Chinese-backed Hinkly Point project will be supplied by Chinese steelmakers LONDON, Sept 22 (Reuters) – UK steelmakers will likely get lucrative deals to supply the 18 billion pound nuclear power plant at Hinkley Point, not enough though to secure the future of […]

Shake up of the C-suite at Rolls Royce

Rolls-Royce named Stephen Daintith as its new finance officer LONDON, Sept 22 (Reuters) – Rolls-Royce named Stephen Daintith as its new finance officer on Thursday as CEO Warren East completed a shake-up of his senior executive team tasked with turning around the aerospace and defence company. Daintith, who is currently CFO at Daily Mail and […]

Bank of England’s Forbes sees no case for further rate cut

Top rate-setter opposes further interest rate cuts LONDON, Sept 22 (Reuters) – Bank of England policymaker Kristin Forbes said she did not yet see a case for a further interest rate cut to help Britain’s economy after June’s vote to leave the European Union, putting her at odds with the majority of her fellow rate-setters. Forbes, an external member […]

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ECB says China and Brexit pose risks to global growth

  Big emerging market economies and Britain’s decision to leave the EU set to affect global growth FRANKFURT, Sept 22 (Reuters) – Global growth is likely to accelerate next year but the outlook is fraught with risks, particularly from big emerging market economies including China, and Britain’s decision to leave the EU, the European Central […]