Treasury launches fresh inquiry into post-Brexit financial regulation as UK enters 'uncharted waters'
The Treasury Select Committee has launched a new inquiry into the future of the UK's financial services once it has left the European Union.
Industry commentators are expecting markets to remain volatile as uncertainty continues following the historic defeat for Prime Minister Theresa May's Brexit deal on Tuesday night.
UK inflation unexpectedly rose to 2.7% in August, beating analysts' expectations of a drop to 2.4% from 2.5% the previous month.
JP Morgan Chase is in the process of laying-off around 100 employees from its asset management division globally following a review of the business, according to sources familiar with the matter.
The Bank of England's (BoE) Monetary Policy Committee (MPC) has unanimously voted to increase interest rates by 25 basis points to 0.75%, the highest level in almost a decade.
15/20 the target
UK consumer price inflation fell 0.1 percentage points in April to 2.4%, a fresh one-year low and missing economists' expectations of inflation remaining at 2.5%.
Over 170 asset managers have rejected an initiative which requires better disclosure of fees UK public pension funds are charged, despite increased regulatory pressure on costs throughout the industry.
Held rates at 0.5%
90% chance of rate hike priced in
Fell almost 0.5% on Tuesday