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The Latest Breaking News from Jon Cunliffe

New commission may ban English water companies from making a profit

Defra body, created to overhaul system amid public fury, may force firms to be run for public good rather than shareholder returns

The Guardian - UK

New Water Commission must create an environmental enforcer that is feared

The current division of responsibilities between Ofwat, the Environment Agency and Drinking Water Inspectorate hasn’t worked

The Guardian - UK

Water regulator Ofwat could be abolished over sewage scandal as firms push for bill hikes of up to 84%

Thames Water has asked to hike bills by 54%

Evening Standard

From analysis to the latest developments in health,
read the most diverse news in one place.

Starmer’s bid to fix broken water industry after series of sewage scandals

Campaigners are angry that Labour will not consider renationalising water companies

The Independent UK

Water sector review could include replacing Ofwat amid row over bills and sewage

The UK and Welsh governments announced an independent commission to review the industry and its regulation.

The Independent UK

New frontier for payments could be created, Bank of England boss tells MPs

New technologies could make ‘micropayments’ easier or enable people to programme money so it can only be used in certain ways, Sir Jon Cunliffe said.

The Independent UK

Bank of England to run stress tests on pension funds, insurers, and other lenders

More needs to be done to ensure that the non-bank financial sector does not pose a threat to the UK’s financial stability, Bank says

The Independent UK

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Bank of England officials were excluded from mini-budget discussions

Deputy governor Sir Jon Cunliffe says Bank did not have usual briefing the night before mini-budget

The Guardian - UK

Asos’s global overstretch shows in share price and operating profits plunge

Long-term shareholders would be immeasurably richer if Asos had stayed in the UK, its ‘core operation’

The Guardian - UK

Kwasi Kwarteng failed to brief Bank of England about risks from mini-budget, MPs told

Bank would have warned of any a threat to ‘financial stability’ – but was in the dark about tax cuts to be unleashed

The Independent UK

Bank of England pushes back start of gilt sale to November 1

It came after the central bank earlier denied a postponement of plans to start selling government bonds.

The Independent UK

UK pension schemes were at risk of collapse in 'unprecedented' impact of budget

The Bank of England has written to the Government explaining why it intervened after market instability

Wales Online

Meltdown averted – but risk of repeat is obvious question Bank needs to answer

BoE has spelt out what was at stake when events last week turned extreme, though surely not unimaginable

The Guardian - UK

Bank confirms pension funds almost collapsed amid market meltdown

Official explains how promise to buy up to £65bn of government debt staved off destructive UK financial spiral

The Guardian - UK

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Evening Standard

How the Bank of England saved Liz Truss’s bacon

The stability of Britain’s entire financial system was on line after ‘Kami-Kwasi’ mini-budget

The Independent UK

Bank of England intervention prevented destructive ‘spiral’ after mini-Budget

Threat to pension funds could have triggered ‘widespread financial instability’

The Guardian - UK

Bank of England vows to get inflation back to 2%

Chief economist Huw Pill wants to make strategy plain to the public in hint of more interest rate rises

The Guardian - UK

Pound drops to lowest level since early days of pandemic as No 10 reels from crisis – as it happened

Euro hammered by recession fears and approaches parity against the dollar, while stock markets rally after Tuesday’s slump

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Evening Standard

As we head back to the striking Seventies, blame inflation not the unions

“Although the Seventies remains a salutary lesson in what can happen, we should not talk ourselves into believing we are inevitably heading for a repeat performance.” So argued Jon Cunliffe, Deputy Governor of the Bank of England, back in April. I wonder if he’s having second thoughts. The number of…

Benzinga

BoE Explains Why Crypto Crash Survivors Could Become Future Amazons, eBays

Bank of England Deputy Governor Jon Cunliffe sees a possibility for crypto meltdown survivors to become the future technology companies, rivaling Amazon.com Inc (NASDAQ:AMZN) and eBay Inc (NASDAQ: EBAY), Bloomberg reports from a Zurich forum. Cunliffe drew parallels between the meltdown wiping more than $1 trillion off the value of Bitcoin and other cryptocurrencies to the dot-com collapse at…

The Independent UK

Bank of England poised to hike interest rates to 1.25% in battle against inflation

Base rate of interest currently stands at 1 per cent - its highest point in 13 years

The Guardian - UK

World may be on brink of new inflationary era, says central bank chief

Global inflation outlook contrasts with Bank of England, which estimates inflation will fall next year

People

José Antonio Ramos Calamonte

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