Tue. Sep 29th, 2020

Chancellor appoints Andrew Bailey as new Bank of England governor – business live

Live coverage as head of City regulator chosen to lead at Threadneedle Street

10.48am GMT

A controversy has erupted in the world of central banking animals, amid conflicting reports about new Bank of England governor Andrew Bailey’s experiences (or not) with bears.

Mr Bailey gave “moral telephonic support” to Cheryl, because he was trapped in London trying to halt the collapse of Northern Rock.

On another occasion, the FT reported in 2016, a bear had sunk its teeth into their sofa and was trying to drag it out of the window.

10.33am GMT

Annual accounts have dropped for the Daily Mail’s publisher, DMGT. It has had a good year on the stock market, and the rewards for executives appear to be in the same vein, reports the Guardian’s Mark Sweney.

It’s a Merry Christmas for the top brass at the publisher of the Daily Mail who pocketed £14.4m this year. (2018: £7.3m) Lord Rothermere, CEO Paul Zwillenberg, finance chief Tim Collier and Kevin Beatty, head of the media operation, each took home between £3.3m and £3.8m.

Related: George Soros hedge fund makes £16m bet against Daily Mail owner shares

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