Bank of England urged to extend emergency action to manage market volatility October 11, 2022 A pensions industry body is urging the Bank of England to extend its emergency action to calm the markets and to manage volatility. After the Bank made fresh moves, widening the scope of its bond-buying programme, the Pensions and Lifetime Savings Association (PLSA) said a “key concern” of pension funds had been that the period [...]
City regulator FCA extends guidance for banks that look to permanently shut more branches October 11, 2022 The Financial Conduct Authority (FCA) guidance, which already sets out expectations for banks to carry out thorough checks on the impact that permanent closures will have on customers, has been extended. Alternatives to bank branches should be delivered quickly and as a priority, according to the City regulator, which has published new guidance for those [...]
Fine wine investors toast Kwarteng as sterling crash boosts market October 11, 2022 Fine wine investors have been toasting the tumbling pound in the past weeks as they capitalise on depressed sterling prices to snap up premium tipples at cut-prices.
Virgin Media O2 slashes social tariff broadband price for struggling Brits October 11, 2022 Virgin Media O2 has slashed the price of its social tariff as the telecom giant follows calls to support the hardest hit by macroeconomic headwinds. The price of the basic band, which is specifically targeted at those receiving Universal Credit, will drop by 16 per cent to £12.50 per month for all new and existing customers, making [...]
Adam Norris: A driving force for the good of the planet October 11, 2022 Adam Norris talks to City AM about his remarkable life, a burning passion for making a difference, and being the father of a Formula 1 star.
Exclusive: The pandemic sped up the pace of change in retail, says Manhattan’s CEO October 11, 2022 Ever since Covid became a household name and the pandemic creeped into businesses’ operations, global supply chains have been under more pressure than ever. It is one of the reasons urgent supply chain commerce transformation has been at the top of the agenda of retail giants, industry leaders, product experts and agents of change. One [...]
Fire sale UK plc: Goldman Sachs to snap up British assets on the cheap as panicky UK pension funds flee October 11, 2022 In a near-unprecedented rush by British pension funds to raise their cash holdings, Goldman Sachs and a range of other investment giants are planning to snap up UK assets at discounts of up to 30 per cent. Since Kwasi Kwarteng’s disastrously received mini-budget at the end of September, UK pension funds are rushing to improve [...]
Westminster council to give Oxford Street a glow-up in revitalisation effort October 11, 2022 Oxford Street is set for a revamp after Westminster council announced it would focus spending in the area on London’s main shopping drag – shelving projects to the north and south. “The Council’s capital funding… will now be directed to prioritise and deliver public realm improvements on Oxford Street itself,” the Council said yesterday. The once-glitzy street [...]
Pret A Manger invests £10m in staff pay bringing salaries above inflation October 11, 2022 Pret A Manger will invest £10m to support its staff with the cost of living crisis, bringing pay above inflation. The outlet will give its workers a salary boost from 1 December to the tune of five per cent. This comes after the coffee chain invested £9.2m in April this year, with 6,500 of its [...]
Spike in package holidays and foreign travel may be ‘rare positive legacy of pandemic’ October 11, 2022 Foreign holidays are back with a bang with 45 per cent of people going abroad in the last year. The latest study from travel agent association ABTA found the level of foreign travel in the last 12 months was equivalent to 70 per cent of that in 2019, pre pandemic. With coronavirus restrictions lifted, a [...]