Germany to pay nuclear firms €2.4bn for plant closures March 5, 2021 The German government has agreed to pay nuclear operators €2.4bn in compensation for forcing them to shut their plants early in response to the Fukushima disaster. The sum will be made available from the general budget, ministries said on Friday. The four affected companies include German-listed firms RWE and E.ON, as well as Vattenfall and [...]
UK-Kenya trade deal in jeopardy as mood in Nairobi turns outright hostile March 5, 2021 The future of the recently signed trade agreement between the UK and Kenya seems increasingly uncertain as MPs and a group of farmers in Nairobi are threatening to shoot down the pact. Yesterday, multiple Kenyan lawmakers came out against the trade deal, saying the agreement is ‘illegal’ under Kenyan law, while a collective of farmers [...]
LSE unshaken by Brexit-driven securities shift to Amsterdam March 5, 2021 The London Stock Exchange (LSE) shook off the effects of Brexit trading movement this morning, backing the City as one of the world’s leading financial capitals. Chief executive David Schwimmer reaffirmed LSE’s confidence in being headquartered in London, despite the Brexit-driven movement of trading in EU securities to Amsterdam. “The movement of trading due to Brexit [...]
PwC and EY: Our restructuring arms are not for sale March 4, 2021 Big Four firms PwC and EY have insisted they have no plans to follow in the footsteps of rivals KPMG and Deloitte and sell the restructuring units of their businesses. Selling restructuring units is in vogue at Big Four firms. This morning KPMG announced it had signed an unconditional agreement with private equity firm HIG [...]
TfL unveils design of new Piccadilly Line Tube trains March 4, 2021 Transport for London and German engineering firm Siemens have today unveiled the design for the new Piccadilly Line underground trains. The trains, which will begin operating on the line in 2025, have 10 per cent more capacity than the old models and use 20 per cent less energy. They are the first air-conditioned models to [...]
Matt Hancock urges ‘vigilance’ as decline in Covid infections starts to slow March 4, 2021 The health secretary has urged people to “remain vigilant” as the decline in coronavirus cases has slowed down across parts of the country and in some regions reversed, latest figures showed. Imperial College London’s latest React study found the prevalence of Covid across England slumped by two-thirds between 22 January and 13 February. However, the [...]
So much for Singapore on Thames: UK corporation tax will be higher than France and Germany March 4, 2021 Yesterday, it was announced that corporation tax will rise from 19 per cent to 25 per cent by 2023 for UK companies with annual profits of £250,000 or higher. Although a new “super deduction” will see companies wipe out their tax bills by investing in property, plant and equipment for the next two years, the [...]
Balance sheets to the streets: the DiverCity Podcast dives into corporate Pride March 3, 2021 | Sponsored DiverCity® Podcast · The Corporatisation of PRIDE February was LGBT history month – a time to reflect and recognise those who have empowered change before us and champion the collective pride of LGBT individuals and their allies. Each year, LGBT history month provides us with time to acknowledge how far we have come since the [...]
Budget 2021: Sunak keeps VAT at reduced rate for hospitality and tourism firms March 3, 2021 The five per cent reduced rate of VAT for the hospitality sector will continue for another six months, the Chancellor has announced. As part of a new raft of measures to help the hospitality sector recover from the pandemic Rishi Sunak told the House of Commons the reduced rate would be extended until 30 September. [...]
Budget 2021: Four key issues for Rishi Sunak today March 3, 2021 Just a few months ago, Chancellor Rishi Sunak had hoped that his spring budget would be an opportunity to move the economic agenda away from Covid-19, and back towards the government’s ‘levelling up’ commitment. But as he prepares to announce his latest set of measures on later today, the reality looks very different. Despite the good [...]