Cash-strapped Brits pushed towards payday loans and buy-now pay-later, FCA warns September 29, 2023 The Financial Conduct Authority has warned the cost of living crunch is pushing Brits toward payday loans and buy-now pay-later products today as it launched a fresh financial inclusion drive.
Sunak ‘removing the alternatives’ to driving, say six major walker and cyclist groups September 29, 2023 Rishi Sunak has been accused by walking and cycling groups of “removing the alternatives” to driving amid speculation he is preparing to curb 20mph speed limits. Six leading active travel organisations claimed the Prime Minister will “make the roads worse” if he goes ahead with the move. Several newspapers reported that a Plan for Motorists [...]
Putin orders former Wagner figure to command volunteer units in Ukraine September 29, 2023 Russian President Vladimir Putin has ordered one of the top commanders of the Wagner military contractor to take charge of “volunteer units” fighting in Ukraine. The move signals the Kremlin’s intention to keep using the mercenaries after the death of their chief, Yevgeny Prigozhin. In remarks released by the Kremlin, Mr Putin told Andrei Troshev [...]
Russian athletes allowed to compete as neutrals at next year’s Paris Paralympics September 29, 2023 Russian athletes will be able to compete as neutrals at next year’s Paralympic Games in Paris despite the country’s ongoing invasion of Ukraine. International Paralympic Committee member nations voted against a full suspension of the Russian committee at the organisation’s General Assembly in Bahrain, but a motion to partially suspend was passed on Friday afternoon. [...]
City of London elects new Lord Mayor: US scientist and economist Alderman Michael Mainelli September 29, 2023 The City of London Corporation has elected the 695th Lord Mayor as Alderman Michael Mainelli. Mainelli will take over the year-long role as the figurehead for the Square Mile, currently held by Nicholas Lyons, on Friday 10 November. The Lord Mayor-elect, 64, is a scientist, economist, and accountant, known for being chairman of Z/Yen. Born [...]
Credit Suisse warns of $2.2bn loss in third quarter as thousands of staff exit bank September 29, 2023 Credit Suisse has warned that it may face a $2.2bn loss in the third quarter as it attempts to deal with legacy loans and problematic parts of its business.
Solvency II: When will the post-Brexit investment bonanza arrive? September 29, 2023 When Rishi Sunak pointed to a once obscure piece of prudential regulation during a leadership debate last year, it felt to many in the City like a watershed moment.
Office politics September 29, 2023 Tim Oldman, boss of the workplace consultancy Leesman, tells Andy Silvester the results of our grand hybrid working experiment are still very much in flux Tim Oldman, as befits a man who runs a workplace consultancy, is asked as much as you’d expect about the impact of hybrid working on employees and the economy. Those [...]
Why Britain is no friend of capitalism September 29, 2023 Britain has been a home to free marketeers for centuries. Yet the public don’t seem to want them, writes Dr Rainer Zitelmann in this guest essay for City A.M. You might have thought that the home of Adam Smith, a raft of prominent economists and indeed Margaret Thatcher would have a rose-tinted view of capitalism – or [...]
House sales fall by 16 per cent amid increase in mortgage rates – as industry looks at shoots of recovery September 29, 2023 The number of house sales fell by 16 per cent in August compared with the same month a year earlier, according to provisional HM Revenue and Customs (HMRC) figures. An estimated 87,010 home sales took place across the UK last month, which was 16 per cent lower than in August 2022 but 1% higher than [...]