OECD: Ireland snubs global tax deal July 2, 2021 Ireland refused to sign a major agreement to overhaul the global corporation tax regime on Thursday. 130 countries and jurisdictions agreed to the deal brokered by the Organisation for Economic Cooperation and Development, which paves the way for sweeping international changes. The new regime will see a global tax for 100 of the world’s largest [...]
On the prowl for a new global goal for nature: will the UN pounce on “nature positive by 2030”? July 2, 2021 | City Talk 20 years ago I gave a talk to a group of investors about why it was important to think about issues beyond profit in investment decisions. I gave an example of an oil spill. I showed them pictures of environmental damage, of polluted waterways, habitat destruction and oil-soaked birds. My talk bombed – they weren’t [...]
Former competition chief urges government to speed up CMA overhaul July 2, 2021 The former chairman of the UK’s competition watchdog has called on the government to speed up an overhaul of the organisation. Lord Andrew Tyrie, who chaired the Competition and Markets Authority from 2018 to 2020, warned that the organisation’s effectiveness will be eroded unless it is urgently reformed, in a report published today. Speaking to [...]
‘Buoyant’ UK job market had 200,000 new advertisements last week July 2, 2021 Almost 200,000 new UK job advertisements were posted in the last week of June, according to the Recruitment and Employment Confederation (REC). The REC said demand for staff is now “buoyant” across the UK as the country’s post-Covid economic recovery picks up steam. There are now a little more than 1.5m job vacancies across the [...]
Gym Group eyes £31m of investor funding for 40 new sites July 1, 2021 The UK’s second-largest gym chain, Gym Group, aims to raise £31m from investors to fund an expansion with 40 new branches. The low-cost gym operator said it plans to open the new sites over the next 18 months as it continues its rapid rollout programme. It said the impact of Covid-19 on the commercial property [...]
FTSE 100 climbs as Sunak outlines post-Brexit financial services roadmap July 1, 2021 London’s FTSE 100 surged this afternoon as investors digested the Chancellor’s post-Brexit roadmap for the UK’s financial service industry. The capital’s premier index climbed 1.25 per cent in afternoon trading to reach 7,125. The rally came after Chancellor Rishi Sunak outlined plans to make the UK financial services industry more competitive on the global stage. [...]
Oil prices hit highest levels in three years July 1, 2021 Global oil prices hit their highest levels in three years today as fuel demand continued to pick up amid the reopening of the global economy after the pandemic. Both worldwide standard Brent crude and US benchmark WTI topped $75 today, touching their highest prices since October 2018. The latter’s price picked up a further 2.2 [...]
Home Office to allow late EU Settlement Scheme applications after website crashes July 1, 2021 Home Office to allow late EU Settlement Scheme applications after website crashes
US jobless claims drop to new pandemic low July 1, 2021 The number of Americans applying for unemployment aid dropped to its lowest level since the onset of the pandemic, new figures released today reveal. The US Labor Department reported Thursday that jobless claims dropped by 51,000 to 364,000. The figures provide further evidence that the US labour market is rebounding strongly from the damage inflicted on it [...]
Bailey attempts to quash inflation fears July 1, 2021 Andrew Bailey has reiterated that the Bank of England is not concerned about the recent surge in inflation, attempting to quash mounting concerns that price rises may soon spiral out of control. Speaking at his annual Mansion House speech, the Governor of the Bank of England moved to temper fears that prices in the UK [...]