Exclusive: FTSE100 companies grossly overestimate their performance on diversity, equity and inclusion May 17, 2022 Nearly two years on from the BLM protests, companies of all sizes are failing to enact the cultural and operational changes that they promised at the time. An audit of the FTSE100 by agility firm Agility in Mind found that despite almost all (99 per cent) having an inclusive mission statement, less than half (48 [...]
Are you suffering from re-entry syndrome? How to cope with post-COVID anxiety May 17, 2022 | City Talk Information and support to help you cope with anxiety brought on the post-pandemic return to ‘normal’. The heights of the COVID-19 pandemic and the associated periods of lockdown were extremely difficult for many people. From health concerns to money worries and loneliness, a range of issues placed pressures upon our mental wellbeing. Whilst COVID hasn’t gone [...]
Exclusive: UK business loans written off by banks almost double to £356m as insolvencies quadruple May 16, 2022 The value of UK business loans written off by banks nearly doubled in the last quarter of 2021, rising 87% from £190m in the third quarter to £356m in the fourth quarter. Debt advisors told City A.M. this afternoon that write offs of loans have been subdued throughout the Covid crisis but are now rising [...]
Banks across the UK are ‘pulling the drawbridge’ as lending to small businesses hits all-time low May 16, 2022 The UK’s largest business group is warning that banks “pulling up the drawbridge” to small firms will further stifle economic growth as a new SBI study showed that successful finance applications plunged over the first quarter of this year. Fewer than one in ten (9 per cent) small firms applied for finance in the [...]
Boost for the City as UK trading venues regain top spot for Sterling swaps with even greater share than before Brexit May 16, 2022 UK trading venues have recovered their position as the biggest location for on-venue execution of GBP interest rate swaps (IRS), giving them a greater market share than pre-Brexit. In fact, a third of all GBP swaps and 57 per cent of on-venue GBP swaps are now executed in UK venues, the highest ever recorded share, [...]
Road tax ‘fairer and more popular than fuel duty’ May 15, 2022 SMF calls for fuel duty to overhauled, and suggest a levy based on miles driven, which would be 'fairer' and more 'popular'.
Exclusive: Ukraine war puts major dent in derivative margin costs May 15, 2022 The war in Ukraine has caused huge increases in margin across derivatives markets, with firms having to find new sources of financing or reducing their positions in order to meet the collateral requirements from brokers, The margin rate for Brent Crude futures on Intercontinental Exchange (ICE) now stands at over $10,00 per lot. With the [...]
City boss pays staff in gold to beat inflation: ‘Makes no sense to pay them in pounds’ May 15, 2022 Staff at a financial services firm in the City of London have been offered the possibility to get paid in gold rather than pounds and pence — to help them keep ahead of inflation. TallyMoney CEO Cameron Parry is understood to be the first employer in the country to trial a gold payroll, though other [...]
Top Goldman brass entitled to unlimited holidays while juniors handed two more paid leave days May 15, 2022 Top brass at Goldman Sachs are entitled to as many holidays they want, while junior staff have been given just two additional annual leave days, an internal memo has revealed. Caps on the number of paid leave days partners and managing directors at the Wall Street titan were scrapped at the start of this month [...]
Germany brings in more emergency measures to control gas supplies amid supply shortage fears May 13, 2022 Germany has brought in new measures to control the country's energy supply amid continued volatility in global gas markets.