UK Bribery Act 10 years on: Have City firms improved their anti-corruption conduct? July 1, 2021 Today it is ten years ago that the UK Bribery Act 2010 came into force, on 1 July 2011. What has changed? The law presented itself as a radical and comprehensive overhaul of UK anti-bribery and corruption law, while its introduction was spearheaded by the Ministry of Justice and Serious Fraud Office (SFO), looking to [...]
City of London Corporation unveils plans for startup hub at City Place House July 1, 2021 The City of London Corporation this morning announced it has resolved to grant planning permission for Great Portland Estates’ redevelopment of City Place House into a 13-storey office structure that will include affordable space for small businesses and startups. The redevelopment, which will be overseen by Great Portland Estates, will be redeveloped into a 44,500 [...]
Zoom no more: Work lunches return in time to lift office morale, study says July 1, 2021 After more than a year of virtual coffees, the business lunch is back according to a new study, with Brits eyeing sirloin steak and red wine to seal a deal. The study, commissioned by London North Eastern Railway (LNER), found that most participants agreed that treating a client to a medium-rare sirloin steak paired with [...]
Barclays to up junior bankers’ base pay to $100,000, following Wall Street rivals June 30, 2021 UK bank Barclays is expected to increase base pay for junior bankers to $100,000 amid an exodus of young workers. The pay hike would bring the company’s rates in line with those announced by JPMorgan this week. In April, Bank of America also increased junior banker salaries by up to $25,000. While the changes are expected [...]
Londoner on furlough finds fortune in the Thames June 30, 2021 Furloughed from her job and confined to London by coronavirus lockdowns, Flora Blathwayt founded a business based on rubbish she retrieves from the muddy banks of the River Thames. Watch the full report.
Want to pay less tax? Move to Kensington, Chelsea or Westminster June 30, 2021 The average house price of a Westminster property is £1,000,559.73, yet the average council tax bill is £945. Compare that to County Durham, where the average house price is £112,722.16, but residents pay an average council tax bill of £2,528 per year. What is happening here? Residents in Westminster and Kensington and Chelsea, two of [...]
UK to EU exports rise to near pre-Brexit levels as trade deficit drops June 30, 2021 After a catastrophic start to the year, UK exports to the EU have risen to near 2019 levels, before the UK exited the European Union. In April 2021, EU exports were down around two per cent from the same time two years ago, according to ONS stats, marking a considerably better performance than in January, [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 30, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. IoD’s chief economist departs for Fitch Ratings The Institute of Director’s (IoD) chief economist will step away from the role next week to become director of economics at US credit rating [...]
Exclusive: ‘Under Boris, the tail has been wagging the dog way too much’, says Charlie Mullins June 30, 2021 Discussing new health secretary Sajid Javid with London’s best-known plumber, entrepreneur Charlie Mullins, it becomes instantly clear that the founder of Pimlico Plumbers is a big fan. “In 2020, Sajid Javid chose to quit as Chancellor and walk out of Number 11 rather than bow down to Dominic Cummings and the Prime Minister and sack [...]
Australian bank Macquarie places £1bn bet on UK rental housing market June 30, 2021 Australian bank Macquarie is betting on the UK rental housing market with the creation of its new business that is planning to invest over £1bn, according to reports. The bank’s asset management arm is eyeing London to buy, develop and operate multi-family housing complexes, as well as other cities across the country, it said in a [...]