London banking sector to begin moving business overseas 'by early 2017'

Business reporter(wp/es):
London's financial services industry is already planning to move business overseas due to the uncertainty of the Brexit process, the head of the British Bankers' Association has warned.
Anthony Browne blamed fears that European Union (EU) politicians will want to erect trade barriers in an attempt to weaken the City of London during the Brexit negotiations for the planned moves.
Smaller banks could begin moving some operations overseas within weeks, with larger institutions following in the first few months of 2017, he predicted.
"Their hands are quivering over the relocate button," he said.
Writing in The Observer, he said: "Banking is probably more affected by Brexit than any other sector of the economy, both in the degree of impact and the scale of the implications.

"It is the UK's biggest export industry by far and is more internationally mobile than most. But it also gets its rules and legal rights to serve its customers cross-border from the EU.
"For banks, Brexit does not simply mean additional tariffs being imposed on trade - as is likely to be the case with other sectors. It is about whether banks have the legal right to provide services."

The industry would like to see the continuation of the EU's "passporting" regime, which allows financial services firms based in the UK to operate throughout Europe without seeking separate authorisation.
He warned that in European capitals and among British Eurosceptics "the rhetoric is hardening" and politics could trump the economic advantages of allowing the present system to remain relatively untouched.
"The problem comes - as seems increasingly likely, judging by the rhetoric - when national governments try to use the EU exit negotiations to build walls across the Channel to split Europe's integrated financial market in two, in order to force jobs from London.

"From a European perspective, this would be cutting off its nose to spite its face.
"It might lead to a few jobs moving to Paris or Frankfurt but it will make it more expensive for companies in France and Germany to raise money for investment, slowing the wider economy."
Banks have called for transition arrangements to be put in place after the UK leaves the EU but the uncertainty over the future - with years of negotiations with Brussels ahead - has left them with little option but to take steps to protect their futures.

Mr Browne said: "Banks might hope for the best but have to plan for the worst.
"Most international banks now have project teams working out which operations they need to move to ensure they can continue serving customers, the date by which this must happen and how best to do it.
"Their hands are quivering over the relocate button. Many smaller banks plan to start relocations before Christmas; bigger banks are expected to start in the first quarter of next year.
"London will survive as a global financial centre. Finance is inventive and will find a way through.
 "But putting up barriers to the trade in financial services across the Channel will make us all worse off, not just in the UK but in mainland Europe."

Suzanne Evans and Paul Nuttall announce plans to stand for UKIP party leadership

Political reporter(wp/es):
Suzanne Evans and Paul Nuttall are poised to go head-head in the battle to become the next Ukip leadership after they both joined the race to head up the crisis-hit party.
The politicians both promised to press the Government on Brexit if they are elected as leader.
But while Mr Nuttall pitched himself as the "unity" candidate, Ms Evans pledged to clean the party of its "toxic" image during a scathing attack on the Ukip hierachy.
She warned Ukip risked being turned into a Donald Trump-style party by Nigel Farage and his allies, but dismissed this strategy, insisting there is no groundswell of support for "far-right" polices in the UK.

Her announcement comes after Arron Banks, the party's most high-profile donor and former aide to Mr Farage, announced he is backing Raheem Kassam for the leadership.
Ms Evans told the BBC's Andrew Marr Show: "Our future as a political party in Britain does not lie in that far-right wing. I don't see a groundswell of opinion in this country for more far-right wing policies."
Ms Evans said she "absolutely" thought Mr Kassam will take Ukip in a far-right direction but "our members don't want that".

She said: "We've taken a lot of stick in Ukip because perhaps we have had a slightly more toxic image than we should have had.
"And our members, the ones that are doing the campaigning, have felt the brunt of that - being abused, being physically and verbally assaulted on the streets.
"They don't want to have a fresh injection of toxicity that's going to make it even more difficult for them, they want policies that help us win."
Ms Evans, who wrote her party's 2015 manifesto but has since fallen out with Mr Farage, was unable to stand in the last leadership election after being suspended from the party for disloyalty.

But she tried to brush off claims that her unpopularity with the Ukip leader and his close ally Mr Banks would harm her chances of being elected to lead the party.
She said there has been "too much testosterone" in Ukip and it is ripe for change.

She said she has "more than enough signatures" on her nomination form already, and dismissed claims the party's finances are in a perilous state.
And making her pitch for leader, she told the show: "I think I'm the right person to lead Ukip into the challenges ahead, to be able to beat the first past the post system that we have at the moment by broadening our appeal and getting MPs into Westminster.
"But first and foremost I think I am absolutely the right person to champion the cause of those 17.4 million people who voted to leave the European Union and are now seeing their democratic choice being undermined by the political class."
Mr Kassam hit back at the comments, saying: "It is sad that 60 seconds after she launched her campaign on the BBC, Suzanne Evans attacked me and my thousands of supporters as 'far right'. This is a project fear tactic and Ukipers are sick of these smears.

"But we're going to rise above it. When she goes low, we go high, to quote Michelle Obama."
Mr Farage criticised Ms Evans' remarks and said she should not be leader.
He told ITV's Peston on Sunday: "For her to talk about the party being toxic, for her to already declare one of the candidates who is running, Raheem Kassam, as being far-right, I don't view this as being a very good start.
He added: "I won't be voting for her no."
The leadership election was triggered after Diane James quit after just 18 days in the job.


Steven Woolfe, the frontrunner to replace her, quit the party in the wake of an altercation with another party member after which he ended up in hospital.
Announcing his decision, Mr Woolfe said the party had fallen into a "death spiral of their own making".
Paul Nuttall, North West MEP for Ukip, told BBC's Sunday Politics: "I've made the decision that I'll put my name forward to be the next leader of Ukip.
"I have huge support out there across the country, not only among people at the top of the party in Westminster and with the MPs, but also among the grassroots.

"And I want to stand on the platform of being the unity candidate - Ukip needs to come together. I'm not going to be on here and gild the lily. Ukip at the moment is looking over the edge of a political cliff, it'll either step off or it will step back.
"And I want to be the candidate that will tell us to come back."

gunman pulls out pistol and opens fire in Turn Pike Lane Norh London

Crime reporter(wp/es):
This is the moment a hooded gunman pulled a pistol from his tracksuit pocket and fired three times during a violent clash on a north London street.
Neighbours today told of their terror as two groups brawled in the middle of the road in Wood Green at 9.30pm on Wednesday.
CCTV footage captured the moment the rival gangs pulled up in three cars, headlamps blazing, and began to push and shove at each other before one man casually drew out a handgun.
Several shots were heard before the groups scattered, with five diving for cover into their hatchback and reversing away at speed, doors still open, to escape.
 The man brandishing the gun was held back by his friends who them jumped into their own vehicles, a BMW and Mercedes, to flee before police arrived.

Officers later stopped one of the cars believed to be involved and arrested three men aged 22, 27 and 31, for possession of a firearm with intent to endanger life.
They are being questioned in custody. Officers are still hunting for the blue BMW.
Residents today told of their shock at the shootout in Graham Road, a quiet street near Turnpike Lane station where three bedroom homes cost £600,000.
A 22-year-old waitress told the Standard: “I was just watching TV and the cars pulled up with their lights on really bright. I heard the noise as they started arguing and shouting at each other.
“I looked out of the window and it got really heated. Then one guy got the gun out and they all seemed to run away. There were three shots. Really loud bangs.
“When that happened I just got as far away as I could from the window and went and hid in the kitchen. I was really shaken up.
“I’m not from London and, while you do hear stories about gun and knife crime, when you see it on your doorstep like that it’s terrifying.
“I didnt go outside until the police turned up a few minutes later.

“It’s a nice street. There’s a green where people go with their kids and there’s lots of families on the road. It’s really scary it happened here.”
A neighbour said: “We heard the bangs and the young people running away. It’s crazy but I’m not that surprised really.
“The street is nice but the area is bad and there is always trouble around Turnpike Station.”
The incident comes amid spiralling gun crime in London with latest figures showing a 10 per cent increase in firearms incidents - up to 2,122 - in the past year.
Met commissioner Sir Bernard Hogan Howe has said a record number guns and weapons have been seized on the streets of London this year.
A report released yesterday by the Office for National Statistics today showed violent crime has soared nationally with knife crime up nine per cent and gun crime up seven per cent.
A Met police spokesman said: “Officers were called at around 9.30pm on Wednesday to reports of shots fired in the area of Graham Road.
“On attending the scene officers found a number of firearm casings. Police are not currently aware of any people injured.”

Man 'beaten to death' in east London high street

Crime reporter(wp/es):
A man is believed to have been beaten to death in a busy east London high street today.
Police have launched an investigation after a 52-year-old died following a suspected assault in the early hours of this morning.
He was rushed to an east London hospital with a serious head injury shortly after 2am and pronounced dead just before 9.30am.
Police were called to the hospital by staff at about 6.15am. They are treating the death as suspcious.
The London Ambulance Service had earlier been called to Leytonstone High Road, near the junction with Lancaster Road.
A crime scene remains in place and Leytonstone High Road is currently partly closed.

The manager of a business close to where the man was discovered told the Standard a police cordon was put up at about 11am.
He added: "Leytonstone is a pretty rough area. This sort of thing happens quite frequently.
"It is worrying but it is not a suprise."
A worker at a nearby shop said: "We didn't know anything until police started putting the tape up.
"I am frightened because I live around here.
"No one is being let into the cordon at the moment so we aren't getting any customers."

Next of kin have not been informed.
A post-mortem examination will be held in due course.
There have been no arrests. Officers remain on scene and enquires continue.

Theresa May blasted for 'dither and delay' on Heathrow Airport expansion

 
Pic: Prime Minster Theresa May 
Political reporter(wp/es):
Sadiq Khan today led furious accusations of “dither and delay” at Theresa May over a new runway for London and the South-East.
Business leaders and an Airports Commission member also expressed dismay over the lengthy Government timetable for choosing between Heathrow and Gatwick.
The anger broke out after Downing Street appeared to signal clearly that it favours a third runway at Heathrow — but then revealed it will be up to 18 months before Parliament confirms the decision.
The most heavyweight intervention was from Sir John Armitt, who sat on the £20 million Airports Commission which in July last year recommended Heathrow expansion.

“It’s another delay and I’m not quite sure why it takes another year for that debate to take place,” he said. “There has been a lot of consultation. MPs are well up to speed on the situation. I hope that debate takes place in less than  a year’s time.”
The Mayor of London said the timetable meant “unnecessary uncertainty” for investors. He added: “The Government’s decision to delay yet again deciding where to build a new runway will cause unnecessary uncertainty for British businesses already struggling with Brexit.”

The City of London Corporation’s policy chairman Mark Boleat said: “The Government needs to stop kicking the  can down the road. Businesses have been waiting years  for the decision and for them it is a massive issue which is affecting their ability to compete on the global stage.”
The Government strongly denied there was any delay, pointing out that the intricate process leading to a decision was first announced by Cabinet minister Patrick McLoughlin in February — although the former Transport Secretary did not explain at the time how long it would take overall.
A Downing Street official told the Standard: “It’s not a delay. The Prime Minister is taking the decision that has previously been dodged for more than half a century.”

The Cabinet decision will come next Tuesday — and No 10 believes it will be “the clearest sign yet that Britain is open for business post-Brexit”.
Colin Stanbridge, chief executive of London Chamber of Commerce and Industry, said: “This reported delay will be a massive blow to business confidence and, in all likelihood, damaging to the nation’s economy.

“We have had enough endorsements, investigations and recommendations. To be told that a final decision may now be in winter 2017-18 — six years after Sir Howard Davies was originally commissioned to do his inquiry — is actually not good enough.
“Given the Brexit uncertainty surrounding the UK at the moment, this was the ideal time to show strong leadership and signal that London is indeed open for business.”
Willie Walsh, chief executive of British Airways’ parent company IAG, said: We’re pleased that the Government appears to be ready to make a choice and we believe it’s sensible that this choice is properly debated. We look forward to being consulted.

“Our main concern remains the cost of delivering the selected option and the impact this would have on our customers. They should not be expected to pay more for inefficient, overpriced infrastructure”.
Will Higham, director of campaigns at London First, said: “It is very encouraging that the new Government is about to make a decision on another runway in the South-East.
“But we could achieve £3.5 billion a year of extra exports, particularly to emerging markets, if we weren’t constrained by runway capacity.
“So the Government can’t drag its feet. It’s time to let Britain fly.”
Former Conservative Party chairman Grant Shapps MP warned against delaying another runway in the South-East as Britain seeks to build trading links in the post-Brexit era.

Speaking at Mayor’s Question Time, Mr Khan argued for Gatwick to be expanded instead of Heathrow. He went on: “Now more than ever businesses need certainty and stability in order to make investment decisions and to keep jobs in Britain. Instead they are getting dither and delay.
“Now it’s time to get on with building a new runway at Gatwick, which can be built quicker, cheaper, and without the years of legal and political battles that Heathrow clearly faces.”
But a Tory spokesman hit back saying: “We’re getting on with taking a decision and delivering for London and the whole country.
“As we do that we will follow a robust process, with consultation, that means additional capacity gets delivered.”

Eric the UK's first ever robot

Technical reporter(wp/es):
London’s Science Museum has brought the UK’s first ever robot “back to life” – thanks to a crowdfunding campaign.
Eric the robot disappeared just months after wowing crowds across the world when he was created in 1928.
The Rebuilding Eric Kickstarter campaign was launched in May and pulled-in £51, 813 from 861 donors.
 A replica of the machine was launched tonight and will go on display to the public from tomorrow until November 30.

Ben Russell, curator at the museum, described how Eric was put together based on “a few newspaper clippings and an old video”.
He said: “Eric holds a unique place in our history. He was everything we now imagine a robot to be – a talking, moving mechanical person.
“Originally built in 1928 by Captain Richards & A.H. Reffell, Eric was one of the world’s first robots. Built less than a decade after the word robot was first used, he travelled the globe with his makers but then disappeared, seemingly forever.
 “In May 2016, 861 backers joined our Kickstarter campaign to bring Eric back to life. Thanks to this support we worked with artist and robot builder Giles Walker to recreate Eric, keeping his appearance as close to the original as possible. Eric has now been saved for the nation as part of our permanent collection.”

London Fields Lido to close for months after 'major problems' discovered

Staff reporter(wp/es):
An east London lido is set to close for months after major problems were discovered with the tiling.
London Fields Lido will be out of action from late November until spring 2017 so that Hackney Council can carry out emergency repairs.
Tiles began coming away from the side of the Olympic-sized pool earlier this year and industry experts have now confirmed that an entire tile and render replacement is required.
Labour Councillor John Burke, a Hackney Cabinet Member for Energy, Sustainability, & Community Services, said: “Although we are disappointed at being forced to close the Lido for urgent repairs, we have decided to take advantage of this unavoidable closure to refurbish the indoor changing rooms and reception area.

“This means swimmers will be able to enjoy better, more modern facilities when the Lido reopens next year.”
Pre-paid members, who will be able to continue swimming at no extra cost at other nearby pools, have expressed dismay at losing the amenity for at least four months.
Hackney resident Ben Alden-Falconer, who swims in the lido at least twice a week, told the Standard: "Where else can you swim in crystal clear water under the sun, stars or rain, all year round?
"The fact that it is 50 metres and heated - I still go when it snows - makes it pretty unique.

"Other local pools are just not the same experience. Hopefully the works will not take longer than the projected four months," added the Cambridge University graduate.
An exact date for the closure has not yet been set but it is likely to be towards the end of November.
London Fields Lido is popular year-round with Hackney residents, offering swimming lessons, fitness sessions and lane swimming as well as a café, sundeck and sunbathing area.
It is another blow for London’s outdoor swimming community, with the King’s Cross pond due to shut next week despite a petition signed by thousands calling for it to remain.