Daily Archive: August 8, 2017

Aug
08

Sing sing: prison choir connects local employers to former offenders

Pilot scheme at HMP Birmingham prepares prisoners for jobs and urges employers to see the potential of untapped workforce

In a brightly lit loft above the chapel of HMP Birmingham, singer Julianne Bastock is asking local business people to miaow up and down a musical scale.

There are nervous smiles among the smartly dressed men and women who have come to see for themselves how a scheme to run choirs in prisons can help tackle reoffending rates and connect former prisoners with employers.

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Aug
08

Bank of England deputy’s Brexit warning is strong stuff | Nils Pratley

Sam Woods has spelled out clearly why a transition period is needed for financial services – and showed it would make the process cheaper

Sam Woods isn’t beating about the bush. The deputy governor of the Bank of England and head of the Prudential Regulation Authority (PRA) says practical complexities arising from Brexit pose “a material risk to our objectives” and “we may have to make some difficult prioritisation decisions”.

This is strong stuff. Central bankers tends to prefer qualification and nuance. Woods couldn’t be clearer in describing why a transition period is needed to make the Brexit process orderly, at least in financial services.

Related: Bank of England warns Brexit will put strain on regulatory resources

Related: Nicky Morgan requests assessment of City’s readiness for hard Brexit

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Aug
08

We let the 2007 financial crisis go to waste | Torsten Bell

Attlee and Roosevelt built a fairer world off the back of economic catastrophe. We’ve failed at that today

It’s not the time passing, it’s the opportunity for retrospection that kills you. Or at least that’s how it feels looking back a full 10 years to the day when I was working in the Treasury as we got the news that the French bank BNP Paribas had frozen funds exposed to US sub-prime mortgages. The crunch part of the “credit crunch” had arrived, and with it a chain of historic events that led to the first bank run in Britain in over 100 years and the collapse of Lehman Brothers just over a year later. Looking back over that decade is not pretty, and should leave us asking: is this really the best we can do?

Related: Credit crunch, 10 years on: fate of RBS shows global crisis is not over

For all the talk of ever increasing income inequality, it has been broadly flat in recent years

Related: A decade after the financial meltdown, its underlying problems haven’t been fixed

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Aug
08

Daily briefing: Pyongyang threatens US base, Belgium’s toxic eggs, how America went haywire

US-North Korea war of words escalates

Aug
08

Australia June home loan approvals miss estimates

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