Regulator’s fraud reimbursement scheme is ‘fundamentally flawed’, top MP says February 6, 2023 The Payment Systems Regulator’s (PSR) new fraud reimbursement scheme is “fundamentally flawed,” Chair of the Treasury Committee Harriet Baldwin has said. The PSR is considering using its statutory powers to force Pay.UK – Britain’s interbank payments standards body – to amend its rules to ensure fraud victims are reimbursed by banks, according to draft proposals [...]
Business lending to drop at fastest rate in decades as recession fears intensify February 6, 2023 Bank to business lending is forecast to contract sharply in 2023 while mortgage lending will grow at its slowest pace since 2011 as fears of recession intensify, economists have predicted. According to the latest forecast from EY Item Club, an economic forecasting group, bank to business lending is expected to contract 3.8 per cent this [...]
Energy crisis: Can someone shine a light on the Bulb takeover deal? February 6, 2023 Octopus' takeover deal for Bulb is set to cost the taxpayer much less than originally feared, but the deal remains shrouded in secrecy.
Avanti not ‘out of the woods yet’ as contract renewal decision looms February 6, 2023 Avanti West Coast is not “out of the woods yet”, a top MP has warned, as the government decides whether to renew the operator’s contract. Rail minister Huw Merriman has said he will make a decision on Avanti’s contract soon, with the extension set to expire in April. Merriman said it will be based “on [...]
Big Four look to hire London’s laid-off bankers to bolster their M&A teams February 6, 2023 The Big Four accounting firms – Deloitte, EY, KPMG and PwC – are seeking to hire laid-off bankers to bolster the ranks of their M&A advisory arms in the City. Top execs told City A.M. the world’s biggest professional services firms are seeking to capitalise on the downturn in big M&A deals by poaching talent [...]
EY says it does not owe ‘duty of care’ to taxman in fight over property magnate’s tax affairs February 6, 2023 EY has said it is under no obligation to help HMRC collect more taxes in defending itself against a High Court lawsuit over a British property magnate’s tax affairs. The Big Four accounting firm said it owed no “duty of care” to HMRC to have given it information that could have helped it collect more [...]
China Covid-19 case surge and Brexit disruption worry UK firms most, survey finds February 6, 2023 A surge in Covid-19 cases in China gumming up supply chains threatens to snag the UK economy, a survey out today reveals. Trade flows hobbled by workers in China being too sick to work after contracting the virus or Beijing reimposing lockdowns in response to a rise in cases ranks as the top concern among [...]
City jobs surge in year after Brexit as Barclays, JP Morgan and Revolut accelerate recruitment February 6, 2023 Finance firms ramped up efforts to hire workers in the year after Brexit, with big banks Barclays and JP Morgan and fintech Revolut leading the charge, according to exclusive figures shared with City A.M. London banks, accountants and fintechs led the recruitment charge in 2022, offering more one in two of every vacancy in England [...]
The world’s favourite airline? It’s certainly not British Airways anymore February 6, 2023 British Airways is getting its comms wrong. Banning pilots and hostesses from posting on social media while they work shows the airline prioritises money over its employees, writes Eliot Wilson
Women looking out for Gen Z at work are being burnt out by being a ‘Team Mum’ February 6, 2023 Workplace politics has changed over the last few years, but the Team Mum’s are still there and looking out for Generation Z, writes Eliza Filby.
