London

What’s the best way to deal with a full onslaught against your industry? A damn good party of course. ‘Despite the dismal financial outlook, Square Mile magazine held their annual Summer Party on Friday 13th for 1,000 City bankers,’ proclaims one of the most gloriously offensive press releases that Mr Steerpike has seen in long time. There were apparently ‘no signs of the dismal economy’ as bankers ‘quaffed free Iceberg Vodka and Louis Roederer champagne and were entertained by fire-breathing strippers and snake charmers’. And, as if that was not enough, ’ex-city trader Anton Kreil, set to become the first person to execute a financial trade in space, was the

The Libor scandal is yet another blow to the reputation of the City of London. Alistair Darling may have been right when he told George Osborne that we’re ‘kidding ourselves if we think this was the only country where this happened.’ But there’s no getting away from the fact that an uncomfortably large number of financial scandals start in London.     In the Commons, Osborne seemed keen to move towards a more American-style system of regulation with more prosecuting powers for the FSA and new criminal offences. But he was also keen to make a political point, this happened under the last government and a regulatory system set up

Before David Cameron’s trip to Berlin later today, George Osborne appeared on the Today Programme to emphasise that in the event of a Eurozone banking union, Britain would require safeguards.   Given the importance of finance to this country, Cameron and Osborne can’t accept anything that creates a two-tier single market for financial services. The Tory leadership is also acutely aware that it was this issue that led to Cameron vetoing a proposed treaty last year. It would be politically dangerous for Cameron to do anything that could be characterised as undermining his own veto.   One option being floated by some Tory Eurosceptics is a British veto on financial

The 2012 London mayoral election may barely have finished, but already there’s speculation as to who might run — and win — in 2016. The current favourite is Boris — despite suggestions that he’ll be back in Parliament with his sights set on the Tory leadership by then. And the second favourite? It was David Lammy, the Labour MP for Tottenham who was tipped as a potential 2012 candidate and has hinted that he might be interested next time. But today he’s been overtaken — in the eyes of bookies Paddy Power at least — by another Johnson who’s hosted Have I Got News for You: Labour’s Alan Johnson. This

We haven’t done enough to prevent the riots of last summer happening again, says Simon Marcus in this week’s cover feature. And in the latest episode of our The View From 22 podcast he expands on this, discussing his personal experiences with the Boxing Academy in Tottenham and Hackney: ‘What enabled us to engage in strong debate during the whole process was what I saw on the front line at the Boxing Academy for many years. But what I was being asked, in many ways, to accept was wrong. When you’re being told that your eyes and ears have deceived you for five years, that’s something I can’t accept.’ James

While David Cameron has good cause to be glad of Sarkozy’s defeat, he has even better cause to be nervous about this trend of lefty nerds being elected. Much of the Cameroon’s re-election hopes are pinned on the idea that their boss will trounce the geeky Ed Miliband. Nowadays, the argument goes, these ex-special advisers who have no charisma and alarming leftist policies just don’t win modern elections. But, as Ben Brogan argued in the Telegraph last week, the French may well be about to prove that even dullards can get elected — if the incumbent fails to deliver the change he promised. At least Hollande says he’ll balance the

It looks like Conservatism will tonight be affirmed in the greatest city in the world — but thanks to Boris Johnson, who has been able to sell it to Londoners far better than David Cameron managed in the general election campaign. The number to watch out for tonight is the Boris factor, the gulf between those voting for him as Mayor and those voting Conservative for the Greater London Authority.  As I say in my Telegraph column today, the clown prince is getting something badly right.   Until recently, we had been told that there are two choices for Conservatism: the ‘modernising’ faction of it, or the old voter-repelling model

So, after all that, it looks like today’s London Mayoral will be just a little bit of history repeating. YouGov’s final poll predicts that Boris will defeat Ken in the second round by 53 to 47 — exactly the same result we saw four years ago. The third place finisher will probably be the same too: the poll has Brian Paddick getting 7 per cent in the first round, ahead of Siobhan Benita and UKIP’s Lawrence Webb on 4 and Green Jenny Jones on 3. If Boris does overcome Labour’s partisan advantage in London, it won’t be mainly down to his achievements in office. In fact, voters are split 39-38

As we enter the final stretch of the campaign for London Mayor, YouGov have a new poll putting Boris four points ahead of Ken. It’s a touch better for the blue team than the 2 point lead YouGov found last week, but not as comfortable as the 8- and 10-point leads shown by ComRes and Survation respectively. Despite dropping a bit further behind Boris, Ken does not seem to be suffering from Labour supporters turning their backs on him. Indeed, he now gets 92 per cent of those Labour general election voters who express a preference between him and Boris — the highest level of party loyalty YouGov have found

Ni hao. In recent days, Boris, Ken and Brian have all leapt headlong onto Weibo, China’s highly popular version of Twitter. It’s an obvious effort to win the votes of Chinese-speakers living in London. Boris was the first — which, I suppose, says all you want to know about his sense of initiative, brio, élan, and whatever the Chinese word is for ‘mojo’. Ken and Brian both jumped in about two weeks later, around April 21.   Inevitably, because the vast majority of Weibo users live in China, our three London mandarins have ended up attracting followers based in the Middle Kingdom. A look at the mayoral candidates’ individual Weibo

It looks as though the London Mayoral election isn’t the foregone conclusion some thought it was. A new YouGov poll for the Evening Standard has the gap between Boris and Ken down to just two points — well within the margin of error. That contrasts with the eight-point lead that Boris had opened up last month: One interesting finding is that, despite all the controversy over his tax affairs, Labour supporters are not turning their backs on Ken. In fact, they seem to be rallying around him. Of those Labour general election voters who express a preference between Ken and Boris, Ken now has the support of 89 per cent.

Andrew Adonis, one of the policy brains of the Blair government and now seated in the House of Lords, has a letter in tomorrow’s edition of the Spectator responding to Neil O’Brien’s cover article of last week. In it, Adonis suggests one way that the political class could help purge the Londonitis from its collective system: move the House of Lords to Greater Manchester. Here’s the full text of the letter, for CoffeeHousers: Sir, As Neil O’Brien rightly says, London is New York, Washington and LA rolled into one, which is unhealthy for our national politics. So I have a serious suggestion. If the House of Lords is going to