Brown plans overhaul of City regulation

Article Abstract:

UK Chancellor Gordon Brown has taken the City of London by surprise with the timing of his announcement that significant changes will be made to the regulation of the financial services industry. It had not been expected that these changes would be made so early in a Labour administration. Brown has also created surprise with his decision to remove banking supervision from the Bank of England. The Securities and Futures Authority, Personal Investment Authority and Investment Management Regulatory Organisation will all be merged into the Securities and Investment Board.

Management, Planning, Laws, regulations and rules, Bank of England, Financial services industry, Brown, Gordon (British politician)

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Labour's brave new world takes shape

Article Abstract:

The United Kingdom government has appointed two Bank of England deputy governors, David Clementi and Mervyn King. Clementi's appointment was expected, but that of King was not, and is supported by members of the financial services industry due to his stance on inflation. King developed the Bank of England's Inflation Report, while Clementi moves from the vice chairmanship of Kleinwort Benson. Both men join the committee on monetary policy which takes decisions regarding inflation.

Banking Institutions, Depository Credit Intermediation, Financial Services, Finance and Insurance, DEPOSITORY INSTITUTIONS, Officials and employees, Banks (Finance), Appointments, resignations and dismissals, Davies, Howard, United Kingdom. Securities and Investments Board, King, Mervyn, Clementi, David

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Boom conditions back for the high street and industry

Article Abstract:

Rising consumer spending in the UK is having a positive impact on the retail industry. Brewing and leisure group Whitbread, for example, is now planning to create 3,000 new jobs in 1996, while Marks and Spencer is to increase its workforce by 2,000. Improving economic conditions are also been seen in industry, with manufacturing output rising by 0.7% in the three months to Sep 1996. It is now likely that there will be an upward revision in gross domestic product.

United Kingdom, Manufacturing industry, Manufacturing industries, Economic aspects, Retail industry, Retail trade, Consumption (Economics)

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