British companies planned 300,000 redundancies in June and July September 8, 2020 UK employers planned more than 300,000 redundancies this summer as the coronavirus pandemic continued to take its toll on the economy. Figures obtained by a BBC Freedom of Information request show 1,784 firms made plans to cut nearly 150,000 jobs in July, a near sevenfold increase on the year before. While in June, 1,888 employers [...]
Exclusive: UK fintech sector launches initiative to end harassment September 8, 2020 Leading figures from the fintech industry have today launched an initiative aimed at tackling harassment and promoting diversity within the sector. The “Fintech for all charter” focuses on increasing diversity and inclusion across the industry. It is being led by data platform Inchorus and supported by Innovate Finance, the Fintech Alliance and Level39. The Financial [...]
London tech firms return to hiring after lockdown September 8, 2020 London has retained its status as Europe’s tech hub even after the disruption of the pandemic as companies return to hiring after months of lockdown. The technology sector is one of the capital’s biggest employers with more than a fifth of London’s workforce employed in digital tech. Jobs in the sector have grown 40 per [...]
Muppet money: Savers lose out on billions as they stash the cash September 8, 2020 UK savers could be wasting the opportunity to earn extra income on their savings as lockdown and recession fears push investors to save cash at a record pace. In the first six months of 2020, investors stashed away a record £77bn, meaning a staggering £1.5 trillion of cash is tucked away in savings accounts, according [...]
Exclusive: BoE’s chief economist Andy Haldane warns against furlough extension September 7, 2020 The Bank of England’s chief economist has warned against extending the government’s job retention scheme, saying that such a move would prevent a “necessary process of adjustment” taking place. Amid growing calls from industry groups to keep the furlough scheme in place for certain sectors, Andy Haldane told the City A.M. podcast that the Coronavirus [...]
The City View: Andy Haldane, Bank of England chief economist, on the risk of contagious pessimism and the prospects for economic recovery September 7, 2020 In this extended episode of the City View, Christian talks to Bank of England chief economist and Monetary Policy Committee member Andy Haldane, about the economic lessons learnt from the past five months and the prospects for our economy recovery. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Haldane strikes an upbeat tone and warns against letting pessimism [...]
Deutsche Bank asks 20 per cent of staff to return to London office September 7, 2020 Deutsche Bank is the latest City firm to ask employees to return to the office, as it invites some of its London-based staff back to its headquarters. The German bank has asked around 20 per cent of its employees to come back to its Great Winchester Street headquarters this week, according to Financial News. This [...]
UK is world’s fifth largest exporter of tech services September 3, 2020 The number of tech exports from the UK have surged in the past year, making it one of the world’s largest exporter of technology services. Last year UK exports of technology services grew to £23.3bn, sitting behind just India, the US, China and Germany in the global rankings. Tech Nation’s ‘Unlocking Global Tech’ report published [...]
Russian opposition leader Navalny was poisoned with Novichok, says German government September 2, 2020 Russian opposition politician Alexei Navalny was poisoned with the Novichok nerve agent, the German government has said. Last month Navalny was admitted to hospital after suffering severe symptoms of suspected poisoning. Tests of Navalny’s blood samples conducted at a German military laboratory produced “unequivocal evidence” that the Russian opposition critic was poisoned with Novichok, according to [...]
Lloyd’s of London opens its doors for the first time since March September 2, 2020 Lloyd’s of London has reopened its doors with enhanced safety measures after nearly six months of remote working. Employees returned to the office on Tuesday after months of insurance contract negotiations taking place online and over the phone. In June the insurer, which is one of the last face-to-face financial markets, announced plans to reopen [...]
