Sadiq Khan launches £1m Resilience Fund for London’s post-pandemic recovery December 4, 2020 The Mayor of London announced the launch of a £1m Resilience Fund, partnering community groups and innovation experts to tackle London’s most pressing challenges. The Resilience Fund will be delivered in partnership with Nesta Challenges, an innovation foundation. Local authorities, public agencies, social enterprise will be asked to identify specific challenges they need solved. Sadiq [...]
DEBATE: Is a virtual office Christmas party a disastrous idea? December 4, 2020 Is a virtual office Christmas party a disastrous idea? John Oxley, a Conservative commentator, says YES. The only thing worse than enforced fun is enforced virtual fun. Real office parties are barely enjoyable. Spending an evening with colleagues you are largely indifferent to is an obligation you endure, because if you don’t they put “Poor [...]
Exclusive: Investors prioritise security as they flock to low risk assets December 3, 2020 UK investors are shifting their attention to low risk assets as they prioritise security over returns in their investment strategies for the next year. A survey of almost 900 UK investors by Butterfield Mortgages reveals that nearly half have lost money due to the volatility caused by the pandemic. In times of uncertainty, investors will [...]
Salaries to increase next year as companies move to lift pay freezes December 3, 2020 UK private sector workers are set to receive average pay rises of 2.4 per cent in 2021, according to data released by Willis Towers Watson this morning. The number of UK companies expecting to freeze pay is expected to fall sharply next year, in a further sign of cautious optimism for 2021. The more upbeat [...]
Exclusive: Andy Bell warns ‘we’ll all feel the pain of negative interest rates’ December 3, 2020 As the Bank of England mulls the introduction of negative interest rates AJ Bell’s chief executive has told City A.M. customers will suffer as a result. The central bank has already slashed interest rates to a record low of 0.1 per cent to support lending through the pandemic. “We’ve discussed how we’d deal and cope [...]
Monzo secures additional £60m in funding December 2, 2020 Digital bank Monzo has topped up its earlier fundraising round with an additional £60m in funding, bringing its total raised this year to £125m. The challenger bank had previously closed a £65m top-up in June at a reduced valuation of £1.2bn, down from £2bn. The latest funding, first reported by TechCrunch, is effectively a top-up [...]
Pride and paradox: How to celebrate business success in the midst of a pandemic December 2, 2020 Though we have all read countless stories of under-pressure businesses this year, we should not forget the many companies that have benefitted from 2020’s radical shift in human behaviour. 12 months ago, the average person on the street had no idea about “Zoom”, for example. Since then, the video conferencing brand has become a household [...]
Revolut offers UK customers the opportunity to be paid a day early December 2, 2020 Revolut is now offering its customers the opportunity to be paid a day early in a move that will prove popular as people struggle with pandemic uncertainty. Revolut customers that receive a salary payment via Bacs credit – which the majority of the population does – will be able to access their salary a day [...]
Dial “Enterprise, Enterprise, Enterprise” for this economic emergency December 2, 2020 Never before has a chancellor had to stand in the House of Commons and present quite such dire economic news: the largest fall in output in 300 years; the highest level of borrowing in our peacetime history; and unemployment set to rise by over a million in the next six months. Amid this economic emergency [...]
Challenger lender Koto launches in the UK for left-behind consumers December 2, 2020 A challenger lender focused on providing credit to freelancers and self-employed has today launched in the UK following an investment round. Koto, authorised by the Financial Conduct Authority, has closed a £1.3m funding round which it says it will use to expand and acquire its first 50,000 users. Kotto hopes to cater to “near prime” [...]
