UK banks set to report record profits of £37bn beating pre-financial crisis highs February 13, 2023 The UK’s top banks are set to unveil record profits in the next two weeks after sharp interest rate hikes boosted the lenders’ coffers last year. The big five FTSE 100 banks – Barclays, HSBC, Lloyds, NatWest and Standard Chartered – could post cumulative pre-tax profits of £37.4bn as they reveal their earnings for 2022, [...]
Davos has always been riding on a high but it’s in the grip of a downhill spiral February 13, 2023 For decades, political and business leaders have gathered at Davos, but the World Economic Forum has started to lose its shine, writes Eliot Wilson
Britain’s abysmal numerical abilities are no laughing matter if we want a strong future February 13, 2023 Britons pass off being bad at maths as a joke, but our lack of numerical skills are a serious challenge for our workforce and our future economy, writes Nicholas Lyons
Our growth problem won’t be fixed by tax cuts unless we get people back to work February 13, 2023 Growth is not simply a product of tax cuts, but of looking at policies across the board which could boost our economic output and keep our workforce strong, writes Neil Carberry
Home REIT’s top tenant looking to offload leases as cash troubles continue February 13, 2023 The biggest tenant of beleaguered property investor Home REIT is looking to offload its leases to other housing providers after warning it can no longer pay rent to the firm, City A.M. has learned.
Cost of living crisis could drive the Bank of Mum and Dad bust, life office warns February 13, 2023 The wealth of parents who have been supporting their ‘adult’ children could be about to dry up, a life office has warned. According to the Institute for Fiscal Studies (IFS), £17bn a year is gifted or loaned annually, almost all from parents to adult children But Canada Life said its survey found that almost half [...]
Make childcare cheaper to tackle UK’s talent crunch, business lobby says February 12, 2023 The UK government should make childcare more affordable to help ease the country’s labour shortages, the British Chambers of Commerce (BCC) has said. In the upcoming Spring Budget, UK chancellor Jeremy Hunt should set out plans to help “cash strapped” parents pay for childcare, the business lobby group said. It warned talent shortages are holding [...]
Castore eyes $200m fundraising boost as it sets to take on rivals Nike and Adidas February 12, 2023 According to reports in Sky News, the business which has received backing from tennis star Andy Murray, is in talks with bankers to secure a “significant capital injection”.
UK law firms hold back on layoffs as legal sector revenues continue to soar February 12, 2023 The UK’s legal sector continued to grow in the final months of 2022 despite a downturn in the wider professional services sector. Legal sector revenues increased six per cent from November to December 2022, to heights of £4bn, figures from the UK’s Office for National Statistics show. The uptick came as the UK’s wider services [...]
Meta gears up for more job cuts as staff complain of ‘lack of clarity’ February 12, 2023 Meta employees have complained about a "lack of clarity" around budgets at the social media giant as the firm readies for another round of job cuts, according to a report in the Financial Times.
