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As Andrew Bailey tells lenders to prepare for No Deal Brexit Nisan boss warns of gloomy prospects for UK car industry. Dame Elizabeth Gloster’s investigation into FCA mishandling delayed. Meanwhile Asian Markets rally giving FTSE a bounce.
An independent investigation into FCA handling of London Capital and Finance unregulated activity has been delayed.
Dame Elizabeth Gloster says her investigation into whether the FCA mishandled the LCF affair has been delayed by…problems at the FCA. She says the delay will likely cause anguish for investors. Thoughts from bondholders?https://t.co/MD5EKsiJI2
— James Hurley (@jameshurley) June 2, 2020
Governor of the Bank of Englans, Andrew Bailey tells UK lenders to step up No Deal preparation.
The governor of the @bankofengland has told Britain's biggest lenders to intensify preparations for a "no trade deal" #Brexit amid growing signs of deadlock between London and Brussels https://t.co/7DtyAvYIqC
— Sky News (@SkyNews) June 3, 2020
Nissan boss calls Britain’s largest car manufacturing plant “unsustainable” in the event of No Deal Brexit.
The UK's largest car manufacturing plant is "unsustainable" if the UK leaves the European Union without a trade deal, owner Nissan says.
It would be madness to have No Deal with one of the largest markets, but then mad people are in-charge.https://t.co/K8zE4wsJym— Prem Sikka (@premnsikka) June 3, 2020
Faisal Islam takes a comparative deep dive into the EU car industry.
With Renault now getting billions in French state subsidised loans, Macron explicitly demanding say in production, Spain factories safe, Renault now in charge of alliance with Nissan in Europe
…producing EU market Renaults in Sunderland behind 10% tariffs looks a challenge…— Faisal Islam (@faisalislam) May 29, 2020
Meanwhile Asain Markets rally giving the FTSE a bounce.
Rally continues in Asia. Nuts pic.twitter.com/8LDfgHRLFk
— David Ingles (@DavidInglesTV) June 3, 2020
George Hammond highlights companies in place to grow from crisis.
A small scoop that tells a bigger story: IWG, having just raised £320m, is looking to grow through the crisis; WeWork, chastened by last year's turmoil, is retrenching. Imagine there will be more of these stories to come. https://t.co/et8ODlsn5Z
— George Hammond (@GeorgeNHammond) June 3, 2020
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