Cost of lost schooling could amount to £350bn in lost earnings February 1, 2021 The Prime Minister this week set out plans to keep children home for even longer and the cost of lost schooling is set to reach hundreds of billions in the long run. Research from the IFS has shown that early evidence is already suggesting that the loss of learning is contributing to educational progress and [...]
Number of British pensioners living in the EU drops after Brexit deal January 30, 2021 Pensioners are leaving the popular European hotspots of Spain and Cyprus following the Brexit deal. The number of UK pensioners living in the EU fell to 463,774 in the last year, down from 474,721 in the aftermath of the Brexit referendum in 2016, according to research by financial adviser Salisbury House Wealth. Popular destinations among [...]
Sir Philip Green’s family set to make £50m from Topshop sale January 30, 2021 Sir Philip Green’s family is reportedly set to receive £50m from the sale of Topshop. The troubled retail group collapsed at the end of last year and its flagship brands Topshop and Topman reportedly failed with gross liabilities of more than £550m. The groups’ demise launched 13,000 jobs into uncertainty and became the biggest casualty [...]
UBS dismisses banker behind Russian Market Twitter account January 29, 2021 The banker behind the popular Russian Market Twitter account has reportedly been sacked by UBS. The Swiss bank dismissed Russian Market after joining its wealth management nearly three months ago, according to Finews.com. The banker was reportedly hired in November as an adviser for high net worth Russian and CIS country clients but has been [...]
Bitcoin skyrockets as Elon Musk expresses support January 29, 2021 To finish off what has been a wild week for markets in comes Elon Musk sending the price of bitcoin up more than 15 per cent. The Tesla founder added #bitcoin to his Twitter bio in the early hours of Friday before cryptically tweeting: “In retrospect, it was inevitable.” Prices in the cryptocurrency leapt from just [...]
Paragon Banking Group reports fall in first quarter lending January 29, 2021 Challenger bank Paragon Banking Group has reported an “encouraging start to the year” despite a fall in lending volumes. “We have made an encouraging start to the year. Good momentum in new business flows has led to strong growth in the pipelines, particularly for buy-to-let and development finance,” chief executive Nigel Terrington said. In the [...]
UK tech sector outpaces entire private sector January 29, 2021 The UK’s tech sector expanded at a stronger rate than the entire private sector last quarter and is set to reach a four-and-a-half year high this year. Tech saw another rise in business activity in the fourth quarter, according to IHS Markit and KPMG research, although the pace of expansion slowed amid a wider economic [...]
FTSE 100 closes down as Reddit frenzy continues January 29, 2021 The FTSE 100 closed nearly two per cent down at the end of the week, with investors spooked following a volatile week in markets. London’s main market closed down nearly two per cent, and the FTSE 250 finished nearly 70 per cent down. Wall Street also suffered today, down more than two per cent [...]
FTSE 100 closes lower but US stocks rebound from slump and brush off dire data January 28, 2021 FTSE 100 closes lower but US stocks rebound
Iron Man star Robert Downey Jr. launches sustainable venture fund January 28, 2021 Iron Man star Robert Downey Jr. is launching a rolling venture fund focused on investing in sustainable technology.
