Biden infrastructure plan receives backing as Democrats support $3.5 trillion investment July 14, 2021 Leading Senate Democrats have provided Joe Biden’s new infrastructure plan with a big boost after they agreed on a $3.5 trillion investment plan that they aim to include in the budget resolution that is debated soon. Senate Majority Leader Chuck Schumer told reporters that “we have come to an agreement.” It came after two hours [...]
UK listed companies set for rebound after brutal pandemic hit July 14, 2021 UK listed companies saw a record decline over the course of the Covid-19 pandemic, but recovery is already underway and predicted to rapidly pick up. Investment manager J O Hambro Capital Management today said the pandemic was deeper and more widespread than any other downturn in recent history. The impact of the coronavirus pandemic was [...]
Workplace gender parity pushed back four years by Covid-19 pandemic July 14, 2021 UK workplaces are failing to make progress in gender diversity, with the Covid-19 pandemic pushing representation in executive positions back by four years. Diversity consultancy The Pipeline said career prospects for women were “desolate” in its annual assessment of gender diversity in FTSE 350 companies. The predicted year for gender parity in the UK was [...]
Retail, hospitality and transport sectors fear staff abuse when mandatory face masks end July 13, 2021 Business leaders in industries that operate in public indoor settings fear staff could come under attack from customers after the government lifts the legal requirement to wear face masks on 19 July. As of next week, businesses can enforce their own policy on masks as they see fit to protect their staff and customers. But [...]
Credit Suisse’s Swiss compliance head leaves with immediate effect after just four months July 13, 2021 The head of compliance at Credit Suisse’s Swiss unit, Floriana Scarlato, is leaving the bank with immediate effect, even though she had only been in the role since March. Scarlato will be taking up a new role outside the bank and her successor will be announced in due course, the financial giant confirmed. Scarlato is [...]
Tech professionals urge social media to verify user IDs after Euro 2020 racist abuse July 13, 2021 Social media giants such as Facebook and Twitter should require users to verify their identities following the racist abuse of England players after their Euro 2020 final defeat, according to a group of tech professionals. Despite boycotts and some technical changes from big tech companies, many people still see social media as “a consequence-free playground [...]
Metropolitan Police seize record £180m of cryptocurrency July 13, 2021 The Met has seized a record £180m of cryptocurrency connected to the capital as it looks to crack down on international money laundering. It follows the seizure of £114 of crypto last month – a woman arrested in connection with that case is now being interviewed for this latest confiscation. She has since been bailed [...]
Barclays hires JPMorgan veteran Peter Ward to head global e-trading team July 13, 2021 Peter Ward, a JPMorgan veteran, has been hired by Barclays to become head of digital strategy and global electronic trading from September. He will be based in New York City. Ward will report directly to the bank’s co-president, C.S. Venkatakrishnan, who led the global markets business after a major reshuffle at the top, according to [...]
Hotel Chocolat records strong results following ‘promising’ in-store performance July 13, 2021 Hotel Chocolat have announced impressive revenue in their latest fiscal year results, seeing an increase of 21 per cent on 2020, while it is also up 24 per cent on 2019. With the ten weeks from 19 April to 27 June boosted by the reopening of the high street, the UK cocoa manufacturer saw its [...]
UK retail sales post strongest quarter on record July 13, 2021 UK retail sales posted their best quarter on record as the lifting of Covid restrictions and Euro 2020 triggered a burst in consumer spending, according to new figures released today. Figures from the British Retail Consortium and KPMG show retail sales surged 10.4 per cent in the second quarter of this year compared to the [...]