American candy stores: Calls for ‘stronger’ laws and business rate reform to clamp down on shops which blight Oxford Street March 17, 2023 Westminster City Council has called for a “stronger” economic crime bill and reform of business rates to officially bring a halt to American candy and souvenir stores which continue to litter Oxford Street. “We are dealing here with a sophisticated operation which is skilled at exploiting UK legal loopholes,” Cllr Adam Hug, leader of Westminster [...]
Pension pain: Savers who bought lifetime allowance ‘protection’ warned they may still find their tax-free lump sum capped March 17, 2023 Chancellor Jeremy Hunt’s decision to scrap the pension lifetime allowance (LTA) in Wednesday’s Spring Budget, was heralded as an incentive for wealthier employees over 50 to stay in the workforce. But some pensions experts say for those who took out a form of LTA protection may still have to watch they do not go over [...]
Banks, bonds, inflation, recession and energy: Five lessons the markets taught us this week March 17, 2023 The third week of March proved to be a rollercoaster for the world’s investors, with a rout on banks and the spectre of inflation, recession and the growing cost of living making their presence felt. These themes may indeed play on in future, so here are the five lessons we’ve learned from the markets this [...]
Recession off the cards, getting over 50s ‘back to work’, strikes and banks take stock – the five best read stories on City A.M. this week March 17, 2023 It was the week UK Chancellor Jeremy Hunt laid out his first Spring Budget, but as pension savers and taxpayers looked on, fears of a recession appeared to fade, although the sagas of banks Silicon Valley Bank, Credit Suisse and on-going strikes raged on; here are the stories readers were flocking to on City A.M. [...]
Elizabeth Line usage soars by 41 per cent as London commuters get around tube and rail strikes March 17, 2023 One in six journeys on Britain’s transport network have been made on the new Elizabeth line, with 62m taken on London’s newest railway between October and December 2022. Out of almost 370m rail passenger journeys across the UK, Crossrail accounted for 41 per cent, according to new figures released by the Office for Rail and [...]
OECD: UK predicted to perform worst of all G20 economies… except Russia March 17, 2023 The UK’s economy is expected to perform the worst out of any Group of 20 (G20) economies apart from Russia this year and next, new analysis has suggested. The Organisation for Economic Co-operation and Development (OECD) said that it expects a 0.2 per cent fall in UK gross domestic product (GDP) this year, followed by [...]
Ann Summers boss Jacqueline Gold dies aged 62 March 17, 2023 Jacqueline Gold the boss of lingerie brand Ann Summers has died aged 62, her family has said. Heartfelt tributes have been paid to the businesswoman who passed away on Thursday evening following a seven-year battle with cancer. She was heralded as a “brilliant retailer and champion of champion of women in business”, as her family [...]
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Curious times as fragile banks and ‘the Jim Cramer effect’ allow Bitcoin to shine March 17, 2023 Jason Deane raises concern over the state of US banks and curious coincidences that are driving the price of Bitcoin upwards.
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