Budget 2021: Sunak pledges £22bn for new infrastructure bank February 27, 2021 Rishi Sunak will use Wednesday’s Budget to announce billions of pounds of funding for the UK’s new infrastructure bank, which is due to launch in the spring. Announced as part of November’s spending review, the bank is part of Sunak’s pledge to provide “once in a generation” investment into the UK’s infrastructure. The Treasury said [...]
Budget 2021: Chancellor set to unveil mortgage guarantee scheme February 27, 2021 The Chancellor will use Wednesday’s Budget to unveil a new mortgage scheme aimed at getting tens of thousands of people onto the property ladder. Under the new programme, first time or current homeowners looking to buy a house of up to £600,000 will need a deposit of just five per cent to secure a mortgage. [...]
Anas Sarwar elected new leader of Scottish Labour party February 27, 2021 Anas Sarwar has this morning been announced as the new leader of the Scottish Labour party after defeating Monica Lennon in a snap election. The vote was triggered when former leader Richard Leonard stepped down in January, saying it was in the best interests of the party. Sarwar’s election comes just three months before elections [...]
Hospitality redundancies: How many restaurant and pub jobs have been lost during the pandemic? February 27, 2021 How many restaurant and pub jobs have been lost during the pandemic?
SoftBank reaches settlement with former WeWork chief Neumann February 27, 2021 SoftBank last night reached a settlement with WeWork’s special committee and the company’s co-founder and former chief executive, Adam Neumann, putting to rest a legal battle dating back to 2019. SoftBank, the new owner of the office-sharing firm, did not disclose terms of the settlement. Media reports earlier this week indicated the deal includes a nearly [...]
Sunak to crack down on Covid support fraudsters with new taskforce February 27, 2021 A new fraud taskforce to crack down on people who have exploited the government’s Covid-19 support schemes will be unveiled at next week’s Budget. The Treasury has announced that it will put £100m into a new Taxpayer Protection Taskforce to investigate those who fraudulently made use schemes such as furlough and the Self Employment Income Support [...]
Biden’s $1.9 trillion Covid stimulus package passed by Congress February 27, 2021 President Joe Biden scored his first legislative win as the House of Representatives passed his $1.9 trillion coronavirus relief package early on Saturday morning, though Democrats faced challenges to their hopes of using the bill to raise the minimum wage. Democrats who control the chamber passed the sweeping measure by a mostly party-line vote of [...]
Carbon capture: Here’s what you need to know about the Elon Musk-backed tech February 27, 2021 Elon Musk is nothing if not divisive. But if there’s one thing about the world’s richest man that people tend to agree on, it’s that he’s good at picking winners. So when the Tesla and SpaceX founder announced – via tweet, naturally – that he would contribute $100m to the best carbon capture and storage [...]
Taxes will dominate next week’s Budget, but which ones will Rishi Sunak raise? February 26, 2021 With all eyes on Rishi Sunak following the announcement of the recent government’s roadmap out of lockdown, it becomes increasingly clear taxes are firmly on the chancellor’s radar. To zoom in on the challenges Sunak is facing, City A.M. caught up with, Tom Stevenson, investment director for personal investing at investment manager Fidelity International. “In recent weeks [...]
Cyber criminals seek to cash in on Covid vaccines after fraudulent adverts pop up February 26, 2021 Cyber criminals seek to cash in on Covid vaccines after 100 fraudulent adverts discovered