Credit Suisse: Beleaguered lender posts £6.6bn loss for 2022 as it undergoes ‘radical’ restructuring to create ‘new’ bank February 9, 2023 Credit Suisse slumped to a mammoth CHF7.3bn (£6.6bn) loss in 2022 as it posted yet another eye watering quarterly loss in the fourth quarter. Revenue at the bank fell 33 per cent compared to the same period last year while its loss between October and December was CHF1.4bn. The embattled Swiss lender had a “horrifying” [...]
Global Twitter outage as users told they have reached ‘tweet limit’ February 9, 2023 Many Twitter users found themselves unable to tweet, follow accounts or access their direct messages as Elon Musk’s platform experienced a slew of widespread technical problems. “Twitter may not be working as expected for some of you. Sorry for the trouble. We’re aware and working to get this fixed,” the company tweeted from its support [...]
Navigating the talent challenge: where should your people priorities lie over the next 12 months? February 9, 2023 The expertise and skills of people underpin the success of virtually every organisation. Yet ongoing skills shortages are often preventing today’s organisations from accessing the vital people they need to innovate and grow. ACCA’s inaugural 2023 Global Talent Trends Survey highlights some of the most pressing people challenges faced by employers globally, including in the [...]
Pub firm Fuller’s sues insurance giants Aviva and Liberty Mutual in fight over ‘business interruption’ claim February 9, 2023 Fuller’s pubs has filed a lawsuit against insurance giants Aviva and Liberty Mutual in a dispute over a “business interruption” claim. Fuller Smith & Turner confirmed to City A.M. it is suing the two insurers “in relation to a claim under our business interruption insurance” but refused to comment further. Fuller’s filed its claim against Liberty [...]
CBI: Jeremy Hunt and Rishi Sunak must use budget to prevent recession and bolster UK economy February 9, 2023 Jeremy Hunt and Rishi Sunak need to use the spring budget to stimulate growth to prevent the UK tipping into a recession this year, the country’s biggest business group has urged today. The chancellor and prime minister should at the 15 March statement soothe the impact of a sharp rise in the UK’s profit tax [...]
Exclusive: Brits turn to buy-now pay-later to fund spending amid cost of living crisis February 9, 2023 Brits are turning to buy-now pay-later products to fund online spending amid a cost of living squeeze that is eroding their disposable income rapidly, exclusive research shared with City A.M. reveals. Nearly £1 in every £8 spent online last month was sourced from buy-now pay-later providers, according to research by Adobe Analytics. The proportion is [...]
Ignore the re-heated Thatcherism but listen to Truss: we need a growth plan February 9, 2023 Liz Truss has played a blame-game for her failures. But her diagnosis was right - Britain is failing to touch the sides of America's plan for growth. On this front, at least, Rishi Sunak needs to listen, writes Josh Williams.
Let’s be honest, we are suffering from a national crisis of bad vibes February 9, 2023 Strikes, NHS waiting lists, high energy prices and a constant stream of news about horrific crimes, natural disasters and economic gloom, Britain's Bad Vibes are keeping us down, writes Matthew Lesh
A complicated funding model for apprenticeships means we miss the people we need February 9, 2023 The number of new apprentices is on the rise, but the number of people actually finishing their courses is falling, as young people are put off by low wages and low quality courses, writes Simon Eaves
How decoupling cost of electricity from gas can benefit EV uptake, according to motoring groups February 9, 2023 Motoring groups have called on the government to decouple the wholesale price of electricity from gas in a bid to bring down the costs associated with running an electric vehicle (EV). The RAC and EV campaign group Faircharge today urged ministers to publish the results of their Review of Electricity Market Arrangements, which closed in [...]
