Ukraine’s president slams NATO as Johnson and Macron discuss ‘despicable’ attack March 5, 2022 The prime minister has met with French president Emmanuel Macron today to discuss “the worst war on our continent for a long time”, as Ukraine’s leader slams NATO. Boris Johnson and Macron, who have not always seen eye to eye, agreed it was “imperative” to both countries to continue to provide humanitarian, economic and military [...]
PayPal freezes all services in Russia following Ukraine invasion March 5, 2022 PayPal is set to shutter all its services in Russia, according to its chief executive today, as the payments giant becomes the latest business to exit the country following its invasion of Ukraine. “Under the current circumstances, we are suspending PayPal services in Russia,” chief executive Dan Schulman said on Saturday. “PayPal supports the Ukrainian [...]
Weekend Explainer: Why has Gordon Brown said Vladimir Putin should face a Nuremberg-style tribunal? March 5, 2022 Today, at an online event hosted by Chatham House, former UK prime minister Gordon Brown called on countries to set up a special tribunal, in line with the model used in the Nuremberg trials, to punish Vladimir Putin over Russia’s invasion of Ukraine. Speaking at the Chatham House event alongside Ukraine’s foreign minister Dmytro Kuleba, [...]
Saturday Sitdown: Credit Suisse’s global investment boss on the dawn of a new world order March 5, 2022 The Russian invasion of Ukraine has accentuated geo-political risks, further fueling volatility on financial markets and unsettling investors. These developments mark a clear shift to a new world order, Michael Strobaek, Credit Suisse’s global chief investment officer, told City A.M. in an exclusive interview. “This new world order will make risk management as well as investing [...]
As first time buyers save for an average of four years, half of them give up on ownership dream March 5, 2022 First-time buyers are saving for an average of four years in order to raise the deposit to get on the property ladder, new research showed today. The number of first-time buyers rose to nearly 410,000 last year with average deposits estimated at around £53,935 but affordability is still being squeezed with house prices estimated to [...]
Exclusive: Tax probe yields hit staggering £30bn as HMRC fights to recoup lost Covid revenues March 5, 2022 The total revenue HMRC generated from tax investigations and other compliance activity has risen to £30.8bn in 2021, up from £28bn in 2020 as it looks to pursue tax lost to evasion or avoidance during the pandemic, lawyers have told City A.M. this morning. HMRC had to suspend some tax investigations work for part of [...]
Russia rolls out fast-track bankruptcy for foreign firms as companies scramble to exit March 4, 2022 Foreign firms looking to withdraw from Russia will receive fast-tracked bankruptcy protections or be able to temporarily hand over stewardship to local managers, under measures designed to ease the flood of firms looking to sever ties with Russia.
Enough: Russia’s second-largest oil firm Lukoil urges Putin to end Ukraine war immediately March 4, 2022 Vagit Alekperov, the owner of Russia’s second-largest oil company Lukoil, has called on Russian President Vladimir Putin to put an end to the invasion of Ukraine. The company expressed concerns over “the ongoing tragic events in Ukraine” calling for “the immediate cessation of the armed conflict and fully support its resolution through the negotiation process [...]
Wife of Russian on Kremlin’s ‘most-wanted list’ told to pay up for lights at her £22m Surrey home March 4, 2022 A Russian woman whose husband is said to be on “the Kremlin’s most-wanted list” must pay more than £160,000 after being sued by a company that installed fountains and garden lights at her “£22 million” home in Surrey, a judge has ruled. GSL Installations said Elsina Khayrova owed more than £240,000 for work done at [...]
London faces logistics space crunch as e-commerce firms take over city March 4, 2022 London would run out of available industrial space within five months, should the current take-up rate continue, amid an e-commerce boom. The capital and the South East are facing running out of industrial and logistics spaces, according to a report published today by London First, in partnership with CBRE. It comes as the pandemic has [...]