Range of investors circle Teesside superport as offers could hit £2bn August 30, 2021 The battle to win a £2bn takeover of Britains fifth largest port, Teesside’s PD Ports, has gained the attention of numerous investors. The site which was recently awarded a low-tax freeport status has become a target for the Duke of Northumberland’s Northumberland Estates, Legal & General, Credit Suisse joined with the Pension Insurance Corporation. Teesport [...]
Dividend payments threatened by new pension rules August 30, 2021 New rules could force blue-chip companies to allocate spare funds to pension schemes instead of increasing dividend payments after the pandemic. Actuarial firm LCP warned that companies should not underestimate the significance of the new Pension Schemes Act 2021, speaking to The Times. The fresh legislation was drawn up to avoid situations like the Carillion [...]
Post-Brexit: UK named best European country to start a business August 29, 2021 The UK has been named as the best country in Europe to start a business, according to new research shared with City A.M. this morning. Thanks to the UK’s large economy, low unemployment rate, and ease to start and run a business here, the UK ranks number one. The UK also topped the list of [...]
UK’s Nest pension fund launches £1.5bn private equity spending spree August 27, 2021 Workplace pension scheme giant Nest has launched a new procurement for private equity, in which it plans to invest £1.5bn – or 5 per cent of its assets under management – by 2024. The state-backed pension fund, which has £20bn assets under management and 10m members, has announced a search for fund managers for the [...]
Seven million unemployed Brits not looking for work because they do not want a job August 27, 2021 Around seven million people in the UK who are unemployed are not looking for work because they do not want a job, according to official figures. Data from the Office for National Statistics shows of the 13m Brits who are not looking for work, over half said they were doing so because they did not [...]
Credit Suisse moves forward with six-figure junior banker salaries August 27, 2021 Credit Suisse has hiked salaries for first year analysts to $100,000 following other big banks increasing pay for juniors. The Wall Street bank has become the last major investment bank to offer six-figure entry level salaries to bankers. Analysts within Credit Suisse’s investment banking and capital markets unit were reportedly told the bank would pay [...]
Norway poised for historic first female as its central bank chief August 27, 2021 Norway may appoint a female as its central bank chief for the first time ever, after governor Oystein Olsen announced on Thursday that he will step down in February 2022. Deputy governor Ida Wolden Bache is in a prime position to succeed Olsen in running monetary policy in the wealthiest Nordic economy, Nordea bank economist [...]
Apple CEO Tim Cook receives $750m payout August 27, 2021 Apple chief executive Tim Cook has sold shares in the technology company for more than $750m (£550m). The CEO sold most of his five million shares in the firm, according to a company filing with the US Securities and Exchange Commission (SEC) watchdog. The payout was part of a deal he agreed to when he [...]
Exclusive: As workplace confidence in bosses tumbles, external consultants thrive August 26, 2021 In a time of tremendous ambiguity, the Covid-19 pandemic has forced business leaders to act urgently in moments of crisis as they have to make decisions in a heartbeat since circumstances and regulation keep on changing. Yet, with new data from the London Business School estimating that Covid-19 has left around 16m jobs in a precarious position, it is far from certain that business [...]
Over 2m people receive less than £100 per week from state pensions August 26, 2021 More than 2m Brits receive less than £100 per week from state pension payments it has been revealed. Data analysed by Hargreaves Lansdown showed that millions of British pensioners are paid under the full state pension rate, which stands at £179.60 per week for those who retired after April 2016 and £137.60 per week for [...]
