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Mark Carney new head of Bank of England

July 3, 2013 / By Armoured Cars / In security

Mark Carney has officially become head of the UK’s central bank, replacing Sir Mervyn King as governor of the Bank of England.

Mr Carney, who was head of Canada’s central bank, is the first foreigner to run the 319-year-old institution.

He takes over with interest rates at an all-time low and with several stimulus programmes in place to revive the economy following the financial crisis.

Mr Carney is likely to oversee the Bank’s exit from these measures.

Financial markets are already braced for an end to the era of cheap money as central banks such as the US Federal Reserve signal a rise to more normal levels of interest rates over time.

Since the economic crisis began in 2008, the Bank has kept interest rates at historic lows and implemented quantitative easing to inject £375bn of liquidity into the financial markets.

Three members of the rate-setting Monetary Policy Committee, including Sir Mervyn, have voted for an extra £25bn of QE at the past few meetings.

David Cameron promises in/out referendum on EU

January 24, 2013 / By Armoured Cars / In security

David Cameron has said the British people must “have their say” on Europe as he pledged an in/out referendum if the Conservatives win the election.

The prime minister said he wanted to renegotiate the UK’s relationship with the EU and then give people the “simple choice” between staying in under those new terms, or leaving the EU.

The news was welcomed by Eurosceptics who have long campaigned for a vote.

France and Germany both warned the UK could not “cherry pick” EU membership.

During noisy Prime Minister’s Questions exchanges in Parliament, Labour leader Ed Miliband said Mr Cameron was “running scared” of the UK Independence Party, whose poll ratings have been rising.

Mr Miliband, who said he opposed holding an in/out referendum, said Mr Cameron was “going to put Britain through years of uncertainty, and take a huge gamble with our economy.”

London Helicopter Crash Passenger had concerns about weather

January 24, 2013 / By Armoured Cars / In security

A passenger due to be collected by a helicopter which crashed in central London had suggested the pilot delay taking off, it has been revealed.

Pilot Capt Pete Barnes and a pedestrian died when the helicopter hit a crane in Vauxhall on 16 January.

A report by the Air Accidents Investigation Branch shows the client had concerns about the weather and twice suggested take-off be delayed.

The pilot responded by saying he was already starting his engines.

The interim report into the crash also says evidence indicates the top of the crane on The Tower, St George Wharf, was obscured by cloud and details the final exchange between the pilot and the air traffic controller.

Two die in London when helicopter crashes into crane accident

January 16, 2013 / By Armoured Cars / In security

Two people were killed and 12 were hurt when a helicopter crashed into a crane on a building in central London.

The helicopter hit the crane on top of The Tower, One St George Wharf beside the Thames at about 08:00 GMT.

Cars and two buildings caught fire after the burning wreckage fell into Wandsworth Road in South Lambeth. Eighty firefighters tackled the blaze.

The pilot, Capt Pete Barnes from charter firm Rotormotion, was killed, along with a person on the ground.

Mr Barnes, 50 and from near Reading, Berkshire, had asked to be diverted to a nearby heliport because of bad weather.

Metropolitan Police Commander Neil Basu told BBC News it was “miraculous” the crash was not much worse.