Monday newspaper round-up: BoE, office space, BAE Systems

(Sharecast News) - The Bank of England's reliance on "inadequate" forecasting models and a lack of intellectual diversity within its most senior ranks contributed to inflation sticking at among the highest levels in decades, a Lords report has found. In a report critical of Threadneedle Street, the powerful Lords economic affairs committee said the central bank had made "errors" in its handling of the inflation shock triggered after the Covid pandemic and Russia's invasion of Ukraine. - Guardian Women hold just one in five commercial roles on the boards of Britain's 350 largest listed companies, according to research that suggests firms have blind spots and operate at "various levels of consciousness" when it comes to senior female staff. Many are failing to address important barriers that women face in the workplace, the report found, including operating a "woman tax", whereby women are given additional tasks alongside their day jobs without placing the same expectation on their male peers. - Guardian

Nearly 7m sq ft of office space in Canary Wharf does not meet environmental property standards, new figures show. Outdated real estate across the business district, which is known for its huge office towers, could pose a problem for the embattled property group as the Government pursues its green agenda. Current proposals mean that by 2027 all commercial buildings must have an energy performance certificate (EPC) rating of A, B or C and by 2030 only A or B. - Telegraph

There is a "democratic deficit" in parliamentary scrutiny of the Bank of England because oversight of Threadneedle Street's work has failed to keep up with the expansion of its responsibilities, peers have warned. The Lords' economic affairs committee is calling for an overhaul in the way in which the Bank is held to account to reflect changes to its powers and objectives, which have "expanded substantially" in the 25 years since it was made operationally independent. - The Times

One of the more unusual flotations of 2024 is set to deliver a multimillion-pound windfall to BAE Systems. While the London Stock Exchange has suffered a series of defections and snubs from international businesses, Air Astana, the flag carrier of Kazakhstan, looks set to follow a string of other companies from the country that have come to London to list shares. - The Times