25.11 News Briefing

A new independent regulator took a step forward last night after a review led by Tracey Crouch was published. In what would be the largest shake-up since 1992, the makeover would include powers to block changes of ownership, veto for supporters and redistribute levy on Premier League transfers.

 

 

In an effort to provide an alternative to Chinese loans, the UK will launch British International Investment (BII) today, which will leverage private capital to invest across Asia, Africa and the Caribbean. The BII will be launched a the LSE and the UK will provide at least £9bn of investment a year by 2025.

 

 

As reported earlier in the month, Bulb has gone into special administration. This has forced the government to put in £1.7bn of tax payers money to continue running Bulb through the winter as administrators manage the firm.

 

 

Things aren't getting any easier for first time buyers trying to get on the property ladder. Higher prices relative to salary and increasing property boom means saving enough for a deport is harder than a year ago. The Nationwide House Price Index showed that a 20% deposit is equivalent to 110% of income - which is up from 102% last year.

 

 

JP Morgan boss has apologised after saying his bank would last longer than Chinas Communist Party. This comes after JP Morgan won approval to become the first full foreign owner of a securities brokerage in China.