Morning snapshot: Your Daily Dose of pre-market news January 10, 2022 It’s Monday 10 January. Here is a quick overview of the stories that are making headlines this morning in the UK and around the world. UK POLITICS Cladding: Developers must agree a £4 billion plan to fix dangerous cladding on low-rise flats by early March or risk new laws forcing them to act, Housing Secretary [...]
Atom Bank ‘committed’ to four-day week January 9, 2022 The boss of Atom Bank said yesterday he is “utterly committed” to the group’s new four-day working week after the move sparked a 500 per cent surge in job applications and boosted staff morale. Mark Mullen, chief executive of the digital lender, said that while it was “too early to declare victory”, results of the [...]
Cardano Group grows by £18.5bn as it snaps up Dutch sustainability specialist January 7, 2022 Pensions advisory and investment specialist Cardano Group has grown its assets under management (AUM) by over £18.5bn as it completes the acquisition of a Dutch sustainable investing firm today. London-based Cardano has acquired ACTIAM as it looks to broaden its services across investment funds, corporate sustainability analysis and ESG advice. Cardano agreed a deal to [...]
Income of FTSE 100 executives passes median UK worker’s annual salary today despite CEO pay dropping to £2.7m January 7, 2022 New research shows this morning that the pay of top company executives will pass the median annual wage for a full-time worker by Friday morning, sparking outrage from unions. The High Pay Centre said that, by this morning, the median FTSE 100 chief executive (CEO) will have been paid the median UK worker’s annual salary. [...]
BNPL firms welcome regulation as clampdown looms January 7, 2022 Buy Now Pay Later (BNPL) firms have welcomed impending regulation of the sector as the Government prepares to clamp down following a consultation which closed yesterday. Klarna and Clearpay both claimed the time was right for regulation and confirmed they had submitted recommendations on new rules to the Treasury. Alex Marsh, Head of Klarna UK, [...]
Back British: Tech boss calls on UK pension funds to invest at home January 6, 2022 The boss of a national start-up group has called on pension funds to back British tech businesses and “take more of an interest in the next generation of UK companies”. Gerard Grech, CEO of TechNation, which works with smaller tech firms to boost growth, said that the UK was a global leader in technology but [...]
UK fintech investment surges after regulation refresh January 6, 2022 Investment into UK fintech firms surged last year as investors looked to capitalise on new regulation in the sector, research has revealed. Total investment into British fintechs jumped more than 217% to $11.6bn in 2021, second only to US firms globally which saw $46bn of investment, according to figures from Innovate Finance, the UK fintech [...]
Airbnb agrees to hide US guest names in bid to tackle racism January 5, 2022 Booking platform Airbnb has announced it will hide the names of its US guests from hosts until after their booking has been accepted.
Magic Circle: Clifford Chance partner takes home record £3.2m earnings January 5, 2022 Clifford Chance’s highest earning lawyer took home more than £3m in earnings last year, as firms battle it out for the best pay. The Magic Circle law firm confirmed in July that the average take-home for full equity partners has jumped nine per cent to £1.85m each over the last 12 months. Fellow City law [...]
Brits have to pay for entry to the EU from this year: Cash and pre-authorisation needed for post-Brexit trips to Europe January 5, 2022 Brits will have to start paying €7 per person and pre-register their details in order to enter the European Union from this year. Reports had surfaced in various European media in recent weeks that access to all Schengen EU countries would come at a cost from 2022, and when approached by City A.M. this morning, [...]