Rio Tinto to pay out biggest-ever dividend to shareholders after achieving record earnings of £15.7bn February 23, 2022 Mining firm Rio Tinto achieved record financial results in 2021, recording a free cash flow of £13bn and underlying earnings of £15.7bn. The figures led to the company paying its biggest ever dividend to shareholders. Net cash generated from the iron ore producer’s operating activities improved 60 per cent on 2020 levels while profit after [...]
Ukraine: Biden bans Russian state bonds from US markets in fresh sanctions February 22, 2022 Joe Biden has tonight blocked two large Russian financial institutions from operating in the US and has banned Russia from issuing new state bonds on American markets in fresh sanctions against Moscow. A number of Kremlin-linked oligarchs will also have their US assets frozen and face travel bans, with Biden saying in a White House [...]
£13bn in a year: Entrepreneurs selling businesses and assets cause capital gains tax bills to jump 20 per cent February 22, 2022 The UK’s Capital Gains Tax bills jumped 20 per cent from £10.8bn to a record high of £12.9bn in the past year, according to new research shared with City A.M. this afternoon. The increase is primarily due to a rise in tax on entrepreneurs selling businesses causing The value of capital gains in the UK [...]
Insurance bosses ready wave of investment after Solvency II shake-up February 22, 2022 Britain’s insurance giants have welcomed government plans to shake-up EU-era solvency rules as they prepare to unleash a wave of investment across the UK.
Exclusive: ‘Nuclear has a lot going for it while net zero will simply not happen’, says sceptical environmentalist Bjorn Lomborg February 22, 2022 Bjorn Lomborg is not your typical environmental thinker. A former Greenpeace activist, he is now frustrated with the state of our climate change debate – calling for constructive solutions rather than apocalyptic predictions. So what are Lomborg’s solutions? City A.M.’s Michiel Willems finds out. There is a lot to do about nuclear energy at the moment. [...]
Hargreaves Lansdown records slump in profits as pandemic investment surge settles February 22, 2022 Retail investment platform Hargreaves Lansdown recorded a dip in profits for the first half of its financial year as the pandemic boom in trading volumes began to settle.
Public sector debt climbs to record £2.32 trillion: 94.9 per cent of Britain’s GDP February 22, 2022 Government borrowing hit a surplus of £2.9 billion in January, reversing a £2.5 billion deficit in the same month a year earlier, according to official figures published this morning. The Office for National Statistics (ONS) said public sector borrowing from the end of March to December was £138.5 billion – the second highest since records [...]
Follow the money: Property market’s peak starts to push investors towards startups and small businesses February 22, 2022 Investment habits have changed rapidly over the last few years in the UK, with individuals leaning on investments to provide them with passive income. Property investing has been seen as a stable investment over the past decade. The UK housing market has registered substantial growth over the past few years, causing property investing to become [...]
Solvency II regulations to go in first sign of post-Brexit shake-up February 21, 2022 The Government has unveiled plans to slash regulation in the insurance sector and allow Britain’s insurance giants to unleash a flood of funding into UK infrastructure projects, in a major shakeup to EU-era financial rules. Speaking to insurance bosses last night, City Minister John Glen said the Government will overhaul 2016 Solvency II regulation which [...]
Think-tank calls for ESG regulation to clampdown on ‘greenwashing’ February 21, 2022 A regulatory research body has called on Britain to clampdown on corporate ‘greenwashing’ by regulating sustainability ratings, as investors increasingly seek out sustainable investment opportunities.