Brexit offers opportunity to unlock City’s potential, MPs say June 16, 2022 Brexit offers an opportunity for lawmakers to throw off the shackles of legacy EU regulation that has held back the City, according to a report by a group of cross-party MPs published today. The UK can tweak the regulatory regime inherited from Brussels or design an entirely new system to boost the Square Mile’s banks, [...]
Speedy recovery of business air travel will bring billions to UK economy June 16, 2022 A speedy recovery of business air travel could bring extra billions into the UK’s pockets, according to a study published today by WPI Economics. Figures showed that business travellers returning to pre-pandemic levels by 2023 would lead growth rates increasing by 50 per cent by 2030, whereas passenger levels going back by 2025 would cause [...]
KPMG strikes deal with Alteryx to boost data analytics capabilities June 16, 2022 KPMG entered into a “strategic alliance” with California tech firm Alteryx, as part of the accountancy firm’s push to boost its data analytics capabilities. The Big Four firms’ deal with the analytics automation firm will see KPMG push forward with plans to automate its own systems, while also giving it the means to help clients [...]
Exclusive: Almost a quarter of firms have let staff go due to pandemic with a fifth now hiring freelancers June 16, 2022 Workers are increasingly entering unstable work patterns due firms cutting cut staff and replacing them with freelancers. Research published today and shared exclusively with City A.M. reveals 23 per cent of business owners have let permanent staff go this year, while a fifth are going for more flexible workers. The data showed 42 of freelancers [...]
Labour to announce review to ensure more start-ups list in London June 15, 2022 Labour will tomorrow launch a review that aims to ensure that the UK is the best place in the world for start-ups, with the party wanting more to go public in London. Shadow chancellor Rachel Reeves has enlisted former Tory Treasury minister, and renowned economist, Lord Jim O’Neill to “explore how to ensure start-ups can [...]
Mark Kleinman’s exclusive column: Downing Street business adviser pondering exit? June 15, 2022 Raging inflation, labour shortages, a weakening currency, supply chain chaos and – in the eyes of many colleagues and opponents alike – a lame duck prime minister: if you thought that being a CEO in such a climate was tough, spare a thought for his own business liaison chief. Alex Hickman, a co-founder of the [...]
US Federal Reserve fires 75 basis point rate hike bazooka to tackle inflation June 15, 2022 The US Federal Reserve today fired a rate hike bazooka as it scrambles to tame the worst bout of inflation across the pond in recent history. Chair Jerome Powell and co lifted the world’s most important interest rate 75 basis points, the steepest rise since 1994, to between 1.5 and 1.75 per cent. The move [...]
Uber calls on rivals to offer employment benefits as Bolt faces trade union lawsuit June 15, 2022 Uber has called on its rivals to give drivers employment benefits, after one of the UK’s biggest unions said it is taking legal action against ride-hailing app Bolt over its lack of workers’ protections. Britain’s third largest trade union, GMB, is set to file legal proceedings against Bolt, in a bid to force the Estonian [...]
DfT accuses TfL of failing to provide recommendation for pension reform June 15, 2022 The Department for Transport (DfT) has accused Transport for London (TfL) of failing to provide a recommendation for its pension reform just as the latest round of government funding is set to expire next Friday. DfT permanent secretary Bernadette Kelly told TfL commissioner Andy Byford last week the government had launched a formal dispute period [...]
Royal Mail boss says prices are ‘under review’ as firm faces union battle June 15, 2022 The boss of Royal Mail has said he will keep costs “under review” as the firm struggles to balance the cost of living crunch with rising union action. Speaking to Sky News earlier today, Simon Thompson explained that his team was “not immune” to the cost of living crunch, acknowledging the Communication Workers’ Union (CWU) threats of [...]