Barclays: Why the bank's board did not fire Staley in December

  • 13 February 2020
  • From the section Business
Jes Staley Image copyright Getty Images

It has been no secret that Jes Staley had a professional relationship with Jeffrey Epstein.

Epstein moved in rich circles, and as a head of JP Morgan's investment bank and sometime head of its wealth division so did Staley.

In the summer of 2019, when Epstein was re-arrested 11 years after his first conviction ignited renewed interest in Epstein and his associates, Jes Staley volunteered an account to Barclays' board of his previous relationship.

The financial watchdog launched an inquiry into that past relationship to which Barclays responded. The nub of this current investigation - which started in December - is whether Mr Staley and the Barclay's board characterisation of the nature of their relationship, in that response, was sufficiently accurate.

After his first conviction for soliciting an underage prostitute, Epstein remained an important client of JP Morgan which required Staley to continue a relationship with him.

Read full article Barclays: Why the bank's board did not fire Staley in December

Flybe: Government considers ownership stake in Flybe

  • 10 February 2020
  • From the section Business
Flybe stake Image copyright Getty Images

The UK government is considering taking a stake in troubled airline Flybe.

The government is in talks with Flybe and the European Commission to ensure any rescue deal does not break state aid rules.

Read full article Flybe: Government considers ownership stake in Flybe

Chicken or fish? UK and EU clash over trade menu

  • 3 February 2020
  • From the section Business
Boris Johnson holding a fish Image copyright Reuters

From today's menu which fight would you prefer? The chicken or the fish? Boris Johnson's speech today confirmed what sources in Defra have been telling me for some time. The UK will take US chicken before sacrificing UK fish.

While saying that the UK would not accept any diminution of food standards, in a speech in which he bemoaned the number of American "bashers" he tellingly added that "science would be the guide" in setting standards.

Read full article Chicken or fish? UK and EU clash over trade menu

Fishing will be a 'red line' in Brexit negotiations

  • 31 January 2020
  • From the section Business
Media playback is unsupported on your device
Media caption'You have to be optimistic as a fisherman'

The UK government will make getting a better deal for UK fishermen one of its five key negotiating principles with the EU.

It is the only industry to figure specifically in the list of negotiating priorities and is described as a "red line" issue.

Read full article Fishing will be a 'red line' in Brexit negotiations

Lloyds boss: Mental health issues can break lives

  • 22 January 2020
  • From the section Business
Media playback is unsupported on your device
Media caption"You can't be at peak performance forever"

Firms that ignore mental health issues risk "breaking employees' lives and families", the boss of Lloyds Banking Group has warned.

Companies not paying attention to mental health also incur huge costs to the economy, research suggests.

Read full article Lloyds boss: Mental health issues can break lives

Flybe: Three questions for the firm and the government

  • 15 January 2020
  • From the section Business
biggles Image copyright Getty Images

The government answered one question yesterday - does it need Flybe to survive to honour its pledge to improve regional connectivity?

The answer was yes.

Read full article Flybe: Three questions for the firm and the government

Banks and insurers to face climate stress tests

  • 18 December 2019
  • From the section Business
Crowning fire Image copyright NSW RFS - TERREY HILLS BRIGADE
Image caption Climate change carries huge insurance risks

The Bank of England has launched one of the most ambitious attempts to date to quantify the risk that climate change poses to the financial system.

Banks and insurers will face climate stress tests in a similar way to the financial stress tests they already do.

Read full article Banks and insurers to face climate stress tests

Is a no-deal Brexit back on the table?

  • 17 December 2019
  • From the section Business
Prime Minister Boris Johnson Image copyright Getty Images

The government intends to bring down a Brexit process guillotine at the end of December 2020.

If we haven't agreed a trade deal by then, we are out anyway. The ghost of no-deal, it seems, will be haunting business in Christmas future.

Read full article Is a no-deal Brexit back on the table?

Investors may pay for short-notice withdrawals

  • 16 December 2019
  • From the section Business
People walk past the Bank of England Image copyright AFP

Investors may have to accept a discount on the value of their investments if they want to take their money out at short notice, according to new proposals from banking regulators.

The suggestion comes after some funds ran into trouble and barred investors from withdrawing their money.

Read full article Investors may pay for short-notice withdrawals

The general election and the volatile pound

  • 11 December 2019
  • From the section Business
Currency trader leans back and looks at screens Image copyright Getty Images

Election night could be a long one for financial market traders.

The most sensitive market to political events is almost always the value of the pound. And, given the political stakes could scarcely be higher, it could be very volatile as exit polls and results begin to come in.

Read full article The general election and the volatile pound