Government announces Solvency II reform to unlock wave of investment November 17, 2022 The chancellor, Jeremy Hunt, said the government will legislate reforms to Solvency II rules today in a bid to unlock 'tens of billions of pounds' of investment from the UK’s insurance giants.
UK law firms hit harder by global economic headwinds than US rivals November 17, 2022 Law firms worldwide have seen demand for their services slow over the first half of 2022, according to new research. US law firms are however seeing stronger growth than their British and Australian rivals, the research from Thomson Reuters shows. The situation has seen demand for US law firms’ services continue to grow over [...]
Hunt hits renewables with levy and boosts windfall tax in £30bn-plus tax hike November 17, 2022 Hunt has announced a £14bn tax grab on domestic energy producers, bringing renewables into the toughened regime for the first time.
Revolut and the race – or not – to superapp status November 17, 2022 What on earth is a superapp and do we really want one, asks Charlie Conchie
As it happened and live reaction: Jeremy Hunt’s Autumn Budget 2022: UK is now in recession November 17, 2022 Welcome to City A.M.’s live updates as the Chancellor of the Exchequer, Jeremy Hunt, delivers the government’s Autumn Budget for 2022. Here the news team will bring you all the key points, policy changes, opinion, analysis, responses from experts, industry reaction and more. Get in touch and let us know your views via news@cityam.com or [...]
FTX: Bankman-Fried claims he ‘basically forgot’ about account holding $8bn customer cash November 17, 2022 FTX founder Sam Bankman-Fried has launched an attack on regulators for failing to protect consumers today, even as he admitted he “basically forgot” about an account holding $8bn of customer’s cash.
Burberry tops expectations as luxury consumers continue to flock November 17, 2022 Burberry smashes expectations, as the luxury brand appears to dodge cost of living concerns in Europe and weathers the ongoing pandemic-related restrictions in its largest market, China. Group revenues climbed by 11 per cent to £1.35bn in the half year, beating projections of £1.32bn, while operating profit increased 27 per cent to £263m from the [...]
From Reece James to Paul Pogba: 10 football favourites you won’t see at the Qatar World Cup November 17, 2022 Reece James is the latest footballer to agonisingly miss out on a place at the 2022 World Cup, the Chelsea and England defender confirmed on Twitter earlier this week. After suffering a knee injury against A.C. Milan, discussions between James and England manager Gareth Southgate concluded that the Chelsea full back would be in no condition to [...]
Mitie feels the pinch of covid-contract drop-off November 17, 2022 Outsourcing firm Mitie said a drop-off in high-margin Covid contracts had dented profits in the first half of the year despite new contract wins and price inflation helping lift revenues.
Begbies Traynor on track for double digit growth as it cashes in on insolvencies November 17, 2022 Begbies Traynor said it was on track for double digit growth as it cashes in on the economic instability. The corporate restructuring firm said in a trading update that it expects revenue to climb 12 per cent to £58.5m, with adjusted profit before tax also up 13 per cent to £9m. Begbies Traynor said insolvency [...]