CBI boss warns Rishi Sunak against austerity ‘doom loop’– business live

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Live, rolling coverage of business, economics and financial markets as lobby group leader Tony Danker calls for pro-growth policies from new prime ministerHSBC chief executive Noel Quinn has insisted the bank is not readying a succession plan after the surprise replacement of its chief financial officer.There was “no change to my commitment” to the bank in light of the announcement, Quinn said. The bank promoted Georges Elhedery, the co-head of its global banking and markets division, to the finance position – and he has been tipped as a successor to Quinn.Elhedery’s sudden elevation c ...

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