Net Zero: New oil, gas and coal development must end this year, IEA says May 18, 2021 New oil and gas field development and extraction must end this year, while no new coal-fired power stations can be built if the Earth is to stay within safe limits of global warming, the world’s leading energy organisation has said today. Halting developments is fundamental to meeting the net-zero emissions goal by 2050, to keep [...]
City of London celebrates the return of indoor hospitality and culture as Government continues to ease lockdown restrictions May 18, 2021 | City Talk The City of London Corporation has today (17 May) announced a further series of events to mark the reopening of its indoor hospitality, cultural and heritage institutions based across the Square Mile. As the Government’s roadmap to ease lockdown restrictions in England reaches its third step, Lord Mayor of London William Russell and Policy Chair of the [...]
Land Securities losses widen with work-from-home measures May 18, 2021 Commercial property firm Land Securities has seen its full-year loss widened this morning, as its London-centric office portfolio crumbled under work-from-home measures. The FTSE 100 firm has reported a loss before tax of £1.39bn for the 12 months ending 31 March, compared with a loss of £837m the year before. The pandemic pushed many companies [...]
London e-scooter trial to launch in the City next month May 18, 2021 London’s trial of rental e-scooters will begin next month, it has been confirmed, with the City and Canary Wharf among the first areas to test the transport system. The financial hubs have been tapped alongside a core group of boroughs to take part in the trial, which will begin on Monday 7 June. More areas [...]
Indian Covid-19 variant ‘well spread’ across London as cases surge May 17, 2021 The Indian variant is now “well-spread” in London as a rise in new cases is set to prompt further surge testing across the country. Health secretary Matt Hancock today said there were 2,323 cases of the more transmissible strain of the virus in England, with five or more cases found in 86 local authorities. Bolton [...]
Sadiq Khan calls for Londoners to ‘support British businesses’ as restrictions eased May 17, 2021 Sadiq Khan has called on Londoners to “support British businesses” and to come back into central London as Covid restrictions are eased further in England today. Khan said people outside the capital should not despair about the limited opportunities to currently travel overseas and that “everything you need is in London”. Tens of thousands of [...]
Waterloo & City Tube line to reopen from 21 June May 15, 2021 The Waterloo & City line will reopen on 21 June, Transport for London (TfL) confirmed today, having been shut since the first coronavirus lockdown. The underground line, which connects the commuter hub at Waterloo with the Square Mile, is a vital artery for many who commute into the office. Upon reopening, the Waterloo & City [...]
Pension transfer scam crackdown risks delaying thousands of transfers May 14, 2021 The government tabled proposals to tackle pension scheme fraud today, but it could risk blocking or delaying thousands of legitimate transfers, AJ Bell’s chief executive has warned. The plans outlined by the Department for Work and Pensions (DWP) could push providers to ask people transferring to a pension scheme not on the government-approved ‘safe destination’ [...]
World Uyghur Congress hits out at City of London Corporation’s China stance May 14, 2021 A non-profit group representing the world’s Uyghur Muslims has accused the City of London Corporation’s bosses of siding “with oppressive Chinese forces” for not holding Beijing to account for its human rights abuses. The World Uyghur Congress sent a letter, seen by City A.M., to City of London Lord Mayor William Russell and the powerful [...]
Financial watchdog proposes stiffer ‘duty’ to beef up consumer protection May 14, 2021 The UK’s financial watchdog has tabled a proposal today for a stiffer “duty” on companies to protect consumers from scams and mis-selling. Mis-sold financial products, including endowment mortgages, pensions and payment protection insurance have plagued retail investors for decades. The Financial Conduct Authority (FCA) said the firms it regulates would need to follow the new [...]