BHP fires 48 workers over sexual harassment and assault at Australian mines – CityAM : CityAM August 20, 2021 Mining giant BHP has fired 48 workers in 2 years amid a spate of sexual harassment and assault allegations. In July, the Australian government launched an inquiry into the problem of sexual harassment in the country’s mining industry. Large mining companies tend to use Fly In Fly Out (FIFO) accommodation, a set up which blurs [...]
Weak UK retail sales drags FTSE 100 lower – CityAM : CityAM August 20, 2021 London’s FTSE 100 extended yesterday’s sharp losses into this morning as weak UK retail sales figures weighed on market sentiment. The capital’s premier index slipped 0.22 per cent to 7,043.22 points during the first two hours of trading on Friday. The blue-chip index is on track to register its worst week since January. Also Read: [...]
Introducing the decentralised cloud network Cudos – CityAM : CityAM August 20, 2021 Back in 2019, our relationship with James and the team at Crypto AM was born over a late-night McDonalds following an investor event in Zurich. The portions that night, whilst tasty, didn’t quite meet our expectations. So, a whole swathe of the guests made their way for a midnight snack. How fortunate that was in [...]
Savers predict double-digit investment returns: is that a danger sign? August 20, 2021 | City Talk Savers today are more optimistic than at any point in the past five years, expecting their future investment returns to average more than 11 per cent per year. They are more likely to invest further, and to check up on their investments more frequently – but most striking of all they expect higher future returns. [...]
Government borrowing smashes expectations but debt-to-GDP highest since 1960s – CityAM : CityAM August 20, 2021 Government borrowing smashed official forecasts last month as the deficit narrowed by nearly half its levels registered at the height of the Covid crisis, official figures released today reveal. Data released by the Office for National Statistics shows in July of this year, public sector borrowing reached £10.4bn, the second highest figure for the month [...]
Commuting again after pandemic? Never again, say one in ten Londoners August 20, 2021 Many office workers in London are to set to embark on their return to the workplace after the summer. However, many commuters are not too keen to board a train or catch the tube again, mainly due to increased concern over infection control and social distancing on the daily commute. According to a survey conducted [...]
Public debt swells to largest level since 1960s – CityAM : CityAM August 20, 2021 The UK government’s stock of debt relative to the economy swelled to its highest level since the 1960s, driven by the expensive response to quash the impact of the Covid crisis wreaking havoc on the public finances. Data from the Office for National Statistics shows public sector net debt reached £2.2 trillion at the end [...]
Exclusive: Fund manager Andy Ho on why the City is the best place to raise capital August 19, 2021 This morning City A.M. sits down with fund manager Andy Ho, a City insider who left his native Vietnam as a boat refugee, only to return two decades later as a global investor. Ho’s Vietnam-focused investment fund VOF is listed on the LSE’s main market, a member of the FTSE 250 and one of the [...]
Exclusive: ‘When I started, diversity didn’t really exist’, says Bank of America’s international head of ESG August 19, 2021 In this series, City A.M. zooms in on a range of successful women in the Square Mile, some being movers and shakers in their respective fields – rule makers, not rule takers – while others are rising stars worth keeping an eye on. Today: Andrea Sullivan, international head of ESG at Bank of America. An M&A [...]
Markets stumble as China throws sand into the gears of recovery August 19, 2021 European stocks have come under further pressure today, in sharp contrast to last week. The falls appear to be being driven by several factors, so you can pick your poison to a certain extent, however the prospect of a Fed taper is unlikely to one of the main factors, given that US yields are lower, [...]