Carillion roasted over 'rotten corporate culture'; Bank of England apologises over 'menopausal' comments – business live

All the day’s economic and financial news, as MPs blast the ‘recklessness, hubris and greed’ that led to the collapse of UK outsourcer Carillion

10.22am BST

Broadbent’s gaffe has reduced his chances of succeeding Mark Carney at the top of the Bank of England, says the FT’s Chris Giles:

Carney is due to leave the BoE next summer, so the formal search for his successor will begin soon.

Ben Broadbent undermined his chances of becoming governor of the Bank of England on Wednesday after having to apologise for describing the UK economy as “ menopausal ”….

The embarrassment felt in Threadneedle Street for using gender-loaded language is all the more acute because the bank has been trying to extinguish such terms from daily use within the institution.

“his choice of words is unlikely to have done him any favours, particularly with Theresa May, the prime minister, who must approve the choice of the next governor.” https://t.co/5mvozFndA1

9.47am BST

NEWSFLASH: Ben Broadbent has issued an apology.

The deputy governor says he’s sorry for his ‘poor choice of language’ and regrets the offence caused by describing the UK economy as menopausal.

Bank of England dep governor Ben Broadbent apologises for telling the Telegraph the UK economy was “menopausal”. Statement: pic.twitter.com/Hr6Di4Jqr3

Source: FS – All – Economy – News 2
Carillion roasted over 'rotten corporate culture'; Bank of England apologises over 'menopausal' comments – business live