Cash-strapped Brits pushed towards payday loans and buy-now pay-later, FCA warns fca The Financial Conduct Authority has warned the cost of living crunch is pushing Brits toward payday loans and buy-now pay-later products today as it launched a fresh financial inclusion drive.
Putin orders former Wagner figure to command volunteer units in Ukraine Ukraine war Russian President Vladimir Putin has ordered one of the top commanders of the Wagner military contractor to take charge of “volunteer units” fighting in Ukraine. The move signals the Kremlin’s intention to keep using the mercenaries after the death of their chief, Yevgeny Prigozhin. In remarks released by the Kremlin, Mr Putin told Andrei Troshev [...]
City of London elects new Lord Mayor: US scientist and economist Alderman Michael Mainelli New Lord Mayor The City of London Corporation has elected the 695th Lord Mayor as Alderman Michael Mainelli. Mainelli will take over the year-long role as the figurehead for the Square Mile, currently held by Nicholas Lyons, on Friday 10 November. The Lord Mayor-elect, 64, is a scientist, economist, and accountant, known for being chairman of Z/Yen. Born [...]
Science at the heart of the square mile September 29, 2023 | Sponsored The modelling started with Hurricane Andrew,” Oriol Gaspa Rebull tells me about the forecasting work Aon does to measure the risk of so-called ‘catastrophic’ events. That 1992 hurricane, which did extraordinary damage to South Florida, woke the industry up to the increasing severity of weather events. Every ‘event,’ of course, leaves insurers on the hook, [...]
Office politics September 29, 2023 Tim Oldman, boss of the workplace consultancy Leesman, tells Andy Silvester the results of our grand hybrid working experiment are still very much in flux Tim Oldman, as befits a man who runs a workplace consultancy, is asked as much as you’d expect about the impact of hybrid working on employees and the economy. Those [...]
Why Britain is no friend of capitalism September 29, 2023 Britain has been a home to free marketeers for centuries. Yet the public don’t seem to want them, writes Dr Rainer Zitelmann in this guest essay for City A.M. You might have thought that the home of Adam Smith, a raft of prominent economists and indeed Margaret Thatcher would have a rose-tinted view of capitalism – or [...]
House sales fall by 16 per cent amid increase in mortgage rates – as industry looks at shoots of recovery September 29, 2023 The number of house sales fell by 16 per cent in August compared with the same month a year earlier, according to provisional HM Revenue and Customs (HMRC) figures. An estimated 87,010 home sales took place across the UK last month, which was 16 per cent lower than in August 2022 but 1% higher than [...]
Ofgem’s energy price cap to fall – amid concerns households will pay 13 per cent more than last winter September 29, 2023 A fall in Ofgem’s energy price cap takes effect this weekend amid concerns households could still end up paying around 13% more than last winter. The regulator announced in August that the cap on a unit of gas and electricity would reduce the average bill from £2,074 to £1,923 for the three months from October [...]
The end of the nightclub? Shocking report shows they’ve almost halved in past decade September 29, 2023 The number of nightclubs has almost halved in the past decade – including a 30 per cent fall since the start of the pandemic, a new study suggests. The impact of Covid, coupled with changing consumer habits have led to a sharp drop in the popularity of Britain’s nightclubs, according to a report. Research company [...]
Aston Martin share price surges after billionaire Lawrence Stroll ramps up stake September 29, 2023 The group of investors run by Canadian billionaire Lawrence Stroll has ramped up its stake in Aston Martin today to take its stake in the firm beyond 25 per cent.