Day: December 9, 2017

    UK bank shares soar after regulation update proves softer than investors feare. UK banking stocks have made big gains after global rules designed to prevent a repeat of the 2008 financial crisis proved softer than investors initially feared. The changes, which complete an update of the world’s financial rulebook, known as Basel III, were agreed at a meeting of international financial regulators in Frankfurt late yesterday. They aim to stop big banks gaming the system and ensure they hold enough capital to survive an economic crash. But after a year-long deadlock, the Basel Committee on Banking Supervision that devises the rules, set lower capital requirements than originally envisaged in order to win the approval of sceptical nations including France. Lloyds led the banki...

    Leadsom wouldn't comment on reports Sir Michael Fallon resigned as defence secretary partly over comments he made to her Commons Leader Andrea Leadsom has said she feels embarrassed for people whose bad behaviour has been exposed by a wave of parliamentary sleaze allegations. Leadsom said she was working on a cross-party drive to change the culture at Westminster. The Cabinet minister refused to be drawn on reports that allegations she made about comments from Sir Michael Fallon played a role in his resignation as Defence Secretary, the Press Association reports. Leadsom told BBC Radio 4’s Today programme: I don’t comment on private conversations. I was absolutely not interested in discussing issues in public, and I was very sorry to see what was said in the press. That wa...

    A man has been arrested on suspicion of assault following a disturbance in the Palace of Westminster. Police were called to the Strangers Gallery, outside the House of Lords Chamber, on Friday morning. A man, thought to be in his 20s, was escorted from the building and arrested on suspicion of assault and criminal damage. The specific details of the allegations against him have not been revealed. A House of Lords spokesperson said: "A member of the public caused a disturbance at the entrance to Strangers Gallery outside the House of Lords Chamber. The Metropolitan Police escorted the individual away from the Chamber. A Met spokesman said: At approximately 11.15am police were called to reports of a disturbance within the Palace of Westminster. A man, believed aged in his 20...