Exclusive: Half of businesses suffered a cyber-attack in last 12 months February 22, 2021 Just over half (51%) of businesses in the UK have suffered a cyber-attack in the last 12 months, an issue becoming more prevalent with so many people working from home. Research by the Chartered Institute of Internal Auditors (CIIA), which quizzed nearly 200 businesses of all sizes and across various sectors, found the biggest barrier [...]
Exclusive: beIN Sports takes legal action against Fenerbahce over Turkish club’s ‘beFAIR’ campaign February 22, 2021 Broadcaster beIN Sports is taking legal action against Fenerbahce over the Turkish club’s high-profile campaign against the network. beIN is suing Fenerbahce for breach of intellectual property after they displayed “beFAIR” branding on the team’s apparel and pitchside advertising displays. Fenerbahce and their president Ali Koc have adopted “beFAIR” as the slogan for a public [...]
A wealth tax could raise as much as £55bn – but is it really the answer? February 22, 2021 Our friends at Tortoise are hosting an all-day summit on the Future of Money this coming Thursday. They’ve opened up the exclusive event to a small number of City A.M. readers, who can register here with the code GUESTOFCITYAM. Here, Tortoise’s Kim Darrah and Giles Whittell look at what a mooted wealth tax could mean [...]
Student housing firm Scape signs £500m joint venture with pension investor APG to fund expansion February 22, 2021 Student accommodation developer Scape has secured a £500m joint venture with pension investor APG to fund its expansion into mainstream housing. The joint venture is seeded with around 1,000 student rooms in London and the south east, a £250m mixed use residential and student development in Canada Water and the first Scape mainstream project in [...]
City A.M. TV: Daily Market Snapshot (video) February 22, 2021 After a false breakout to the upside in equity markets early last week, momentum has shifted sharply to the downside. With that, there has been further weakness in key equity index futures markets in Asian trading overnight. As a result, there are now two key factors that we are watching to judge when the downside has played out and, therefore, when to reinstate LONG positions. Those [...]
Recruitment firm RTC suffers drop in profit as pandemic takes toll February 22, 2021 London-listed recruitment firm RTC saw profit from operations drop by 45 per cent to £1.1m in 2020, as the pandemic struck industries across the world. Group revenue also fell by 14 per cent to £81.4m, while earnings per share hit 4.6p compared to 9.6p in 2019. Meanwhile, net cash increased to £1.9m and RTC reported [...]
Rishi Sunak set to raise UK corporation tax in 3 March Budget February 21, 2021 Rishi Sunak is reportedly set to raise UK corporation tax in his 3 March Budget in a bid to raise an extra £12bn in government revenue. Sunak will help pay off for a further extension of the government’s Covid-19 support programmes by raising the corporation tax rate from its current 19 per cent to 23 [...]
Self-employed get tax reprieve as HMRC delays first late fee on unpaid self-assessment debt February 19, 2021 Self-employed get tax reprieve as HMRC delays first surcharge on unpaid self-assessment debt
Review into Hong Kong’s only independent broadcaster sparks media freedom concerns February 19, 2021 A Hong Kong government review launched today into the city’s only independent broadcaster has sparked concerns over media freedoms in the region. The publicly funded outlet Radio Television Hong Kong (RTHK) was found to have editorial management “deficiencies” and inadequate transparency of complaints following an unprecedented government-led review. Founded in 1928, the broadcaster is the [...]
Discounter Pepco sets sights on Europe with 400 store openings February 19, 2021 The owner of British discount retailer Poundland has targeted 400 store openings across Europe in the upcoming financial year as it expands its Pepco brand, its boss said on Friday. The group opened 327 new stores in the previous financial year, taking the total to more than 3,000 across 15 countries. Italian confidence Pepco entered [...]