Black British Business Awards announces 2020 finalists August 4, 2020 The Black British Business Awards has announced its 2020 finalists, who have been selected for their outstanding business talent. The award recognises rising stars and leaders across industries, including financial services and professional services. The Black British Business Awards say the finalists have been picked as they “embody the Black British community’s ability to prevail, [...]
BoA: Bank of England to cut interest rates to zero in November August 4, 2020 The BoE is likely to pursue a package of interest rate cuts and quantitative easing in November amid the pandemic and threat of a no-deal Brexit, according to the Bank of America. The Bank will reduce the rate to zero and could go negative if necessary, Bank of America economists predicted in a report today. [...]
Three-quarters of London firms welcome staff back to offices August 4, 2020 London firms are starting to bring their staff back to the workplace after more than four months of remote working due to the pandemic. A survey of 100 business leaders conducted by London First reveals a phased return of staff is underway for three quarters of London firms. The survey, which was carried out last [...]
The City View: Glass half full? Emma McClarkin on the future of British pubs August 4, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS In this episode Christian is joined by the chief executive of the British Beer and Pub Association, Emma McClarkin, who represents over 20,000 pubs and whose members are responsible for 90 per cent of the beer brewed in the UK. Emma describes how pubs and brewers have responded to [...]
German regulator examines EY over Wirecard audits August 3, 2020 The German auditing regulator is reportedly examining EY in connection with its involvement with the disgraced payment services firm Wirecard. A document from the Economic Ministry, seen by German newspaper Handelsblatt, states that regulator Apas is examining all of EY’s audits of Wirecard from 2015. The Big Four firm has been Wirecard’s auditor for over [...]
FCA proposes 180-day wait for property fund withdrawals August 3, 2020 The City regulator is planning to ask investors in open-ended property funds to give 180-day notice before they withdraw money. In a consultation paper released today, the Financial Conduct Authority said there was a “liquidity mismatch” between the underlying property held in the funds and the almost daily basis in which investors buy and sell [...]
Coronavirus in England: What’s the R number for your area? July 31, 2020 Fears of a second wave are growing after it was revealed the coronavirus R number has climbed above one in some parts of England. The R rate, also known as the reproduction number, measures the average number of people that one infected person can pass the virus on to. If the R rate is one [...]
Hong Kong leader Carrie Lam delays local elections by a year July 31, 2020 Hong Kong’s chief executive Carrie Lam has postponed September’s local elections due to the rising number of coronavirus cases in the region. Lam has said the election will be held on 5 September 2021, which will be a blow to the pro-democracy opposition looking to make gains. The opposition was hoping to win a majority [...]
Bank customers may need longer-term crisis support, says FCA July 31, 2020 The City watchdog has said Britain’s lenders may need to consider introducing “sustainable forbearance” for customers who will struggle with loan repayments after coronavirus relief measures end in the autumn. The Financial Conduct Authority (FCA) has launched a “call for input” to determine what measures may be needed once repayment holidays introduced during the pandemic [...]
Monzo flags ‘significant doubt’ over ability to continue as losses double July 31, 2020 Disrupter bank Monzo has flagged “significant doubt” over its ability to continue as a going concern, after doubling its losses during the pandemic. The figures The bank’s losses widened from £47.2m to £113.8m amid a hiring spree, marketing and US expansion. This came even as revenues more than tripled to £67.2m from £19.7m. Monzo lent [...]
