Pension funds sign Mansion House Accord in £50bn boost to UK Economics The UK economy could be about to receive a £50bn cash injection after Britain’s biggest pension funds pledged to redirect resources into private markets in a major policy shift. The voluntary, non-binding agreement by the funds, dubbed the Mansion House Accord, will see increased investment into major infrastructure projects as well as greater venture capital [...]
Scottish Widows abandons Mansion House pension funds agreement Economics One of the UK’s largest pension funds has ditched a key agreement seen as crucial in Chancellor Rachel Reeves’ push to drive growth. Scottish Widows has not signed up to the second iteration of the Mansion House Compact, despite having thrown its weight behind an earlier version of the plans. The original pact saw 11 [...]
Nearly $200m spent by online trading brands on sport sponsorship this season Sport Business Online trading brand sponsorship in sport has edged towards $200m, industry research released on Monday morning suggests. A total of $183m was spent across sport during the 2024/25 sporting season, according to SportQuake’s newest Marketplaces report. Robinhood, Swissquote and eToro rank as the largest three sport sponsorship spenders while 20 different sports are represented across [...]
Rugby’s Nations Championship set for New York finals May 12, 2025 World Rugby is looking at taking the 2030 Nations Championship finals to the US ahead of the 2031 World Cup across the pond. The governing body’s chairman Brett Robinson has revealed that New York is being lined up as host one year prior to the Americas’ first ever Rugby World Cup. It comes amid concerns [...]
Tesla and Apple shares surge as US markets rally on trade deal May 12, 2025 Markets on Wall Street soared on Monday as investors welcomed the trade progress between the US and China. The S&P jumped over 2.6 per cent as markets opened and the Dow Jones 2.41 per cent. Amazon gained over seven per cent and Nike six per cent. The tech-heavy Nasdaq rallied 3.5 per cent. Tech giants [...]
Immigration: The UK care system will collapse without overseas workers May 12, 2025 Yvette Cooper’s proposed visa restrictions for care workers dangerously misrepresent a skilled profession that is already in crisis, says Jonathan Byrd Yvette Cooper’s comments suggesting care workers may face additional visa restrictions as part of a broader effort to reduce so-called “low-skilled” immigration make for troubling reading — not just for those of us in [...]
Huge power outage hits London Underground network May 12, 2025 A power outage has disrupted services across the London Underground, according to Transport for London (TfL). Services on the Bakerloo and Waterloo and City Lines are completely suspended, while the Elizabeth Line and Jubilee Line are part suspended. Both the Northern Line and Picadilly Line are also suffering minor delays, TfL said. A spokesman for [...]
Interest rates may stay higher for longer says Bank of England May 12, 2025 Several members on the Bank of England’s Monetary Policy Committee have warned that sticky inflation could stall further interest rate cuts this year in marked contrast to current analyst expectations. Bank policymakers voted to lower interest rates to 4.25 per cent last week. Two MPC members voted for a 50 basis point cut, and another couple [...]
Exclusive: Gaucho owner to shut City icon M Restaurant next week May 12, 2025 Iconic Square Mile dining spot M Restaurant is to shut for good next week after 10 years serving steak to the City. The move comes after founder Martin Williams left M’s parent company Rare Restaurants in October. City AM understands new chief executive Baton Berisha, who assumed the role in March following spells at The [...]
Debenhams: Shares in Boohoo owner rise amid £175m refinancing talks May 12, 2025 Shares in Debenhams Group, which also includes brands such as Boohoo, have risen amid talks over a £175m refinancing its huge debt pile as it looks to turn around the struggling business. The owner of Pretty Little Thing, which rebranded to Debenhams earlier this year in a shift to a marketplace model, has been struggling [...]