Nothing left: Less than one in three Brits to receive an inheritance despite overall pot growing fast February 3, 2022 Less than one in three Brits expect to get an inheritance from their family, partner or other loved ones, while those who are already relatively well off being significantly more likely to benefit, according to new data shared with City A.M. this morning. While the overall value of inheritances is expected to surge in the [...]
It’s a myth that ETFs are eating the world February 2, 2022 | City Talk ‘Software is eating the world’: so wrote the US venture capitalist Marc Andreessen back in 2011. From today’s perspective, with companies like Alphabet, Microsoft and Meta dominating the stock markets, Andreessen’s observation seems to have held up. Had BlackRock chief executive Larry Fink made similar comments about exchange-traded funds (ETFs) 11 years ago, he likewise [...]
Londoners spend up to 72 per cent of their entire income on simply getting by in the capital February 2, 2022 London renters are forking out up to 72 per cent of their monthly household income simply to get by in the capital’s rental market. Nationwide, that figure is even higher, up to 77 per cent. The average UK rental household pays £808 per month in rent, accounting for 26 per cent of total monthly household [...]
London plumber crushes Pimlico Plumbers in Supreme Court and wins landmark case over holiday pay February 2, 2022 A London plumber has won a key lawsuit in the Supreme Court over his workers’ rights as appeal judges ruled late yesterday afternoon he is entitled to back-dated holiday pay. Gary Smith, who had worked for Pimlico Plumbers between 2005 and 2011, went to court after a long-running dispute with the company over holiday pay. [...]
16 years of returns: History’s lesson for investors February 2, 2022 | City Talk This graphic shows the best and worst performing assets each year since 2006, and shows the powerful benefits of diversifying your investments. The temptation among investors is to stick with what you know. That is no bad thing. It is a strategy championed by successful investment pioneers such as Warren Buffett, a famous devotee of [...]
Govt urged to hike Companies House charges by 700 per cent to crack down on shell firms and fraud February 2, 2022 A group of influential MPs is urging the government to do more to prioritise economic crime and explain why legislation is being delayed. MPs also called for an overhaul of Companies House and to increase the cost to register a business by around 700 per cent, from £12 or £13 currently to £100, in an [...]
Exclusive: Barclays warns business owners’ mental health is in decline after getting into debt February 2, 2022 Barclays is launching 600 new so-called ‘business health masterclasses’ as the bank noticed that the mental health of thousands of business owners across the UK has taken a hit since they the have taken on debt, the bank’s head of business banking told City A.M. this morning. Hannah Bernard said that her team had found [...]
Home Secretary calls for overhaul of Met Police following damning report February 1, 2022 The police watchdog has called for the metropolitan police to overhaul a culture of sexism, homophobia and racism.
Financial SaaS firm OpenGamma closes $21m funding round to ramp up growth February 1, 2022 Financial software-as-a-service firm OpenGamma has closed a $21m funding round as it readies to ramp up growth plans.
Rishi Sunak urged to allow National Crime Agency to probe ‘astronomical levels’ of Covid loan fraud February 1, 2022 Chancellor Rishi Sunak should allow the National Crime Agency (NCA) to investigate “astronomical levels of fraud” that was allegedly committed during the coronavirus pandemic, according to the Labour party. The party will use an opposition day debate in the Commons later today to attempt to get Government backing for an investigation after it was revealed [...]
