FCA warns firms to act now or risk falling foul of incoming consumer duty regime February 22, 2023 Firms must act now to prepare for a new consumer duty, a boss at the City regulator has said. Sheldon Mills, executive director of competition and consumers at the Financial Conduct Authority (FCA), told firms: “You still have time to deliver. But you must act now.” Speaking at an online event hosted by Deloitte marking [...]
FTX collapse: UK investors report losses of nearly £2m to police February 22, 2023 The amount of recorded cash lost by UK investors in the collapse of crypto exchange FTX swelled to nearly £2m this month as burnt traders turn to the police in the hope of recovering their money, a freedom of information request reveals.
McKinsey to cut up to 2,000 staff in one of its biggest round of layoffs ever February 22, 2023 McKinsey is planning to cut up to 2,000 back-office staff as it seeks to control costs and retain its partner payouts. The plans could affect up to 2,000 of McKinsey’s 45,000 staff, in one of the consulting firm’s largest rounds of job cuts ever. McKinsey’s plans, first reported by Bloomberg, are set to see [...]
Tube strike to take place on 15 March after Aslef members voted in favour of industrial action February 22, 2023 London will grind to a halt on 15 March after tube workers voted in favour of strike action, as Sadiq Khan warned there are “no proposed changes to pensions”, at the heart of the dispute. Train drivers who are member of the uion Aslef voted to down tools for 24 hours next month with 99 [...]
UK tech firm numbers double in two years – with London start-up growth lower than nearly all other regions February 22, 2023 The number of newly-created UK tech firms is up by a fifth, with London marginally below the national average. There were 46,474 new tech companies created in Britain in 2022, up from 38,240 in 2021. Based on data from Companies House, the uptick in registrations of new firms is almost double that of 2020, when [...]
Crypto investors look through hawkish Fed minutes to focus on fundamentals February 22, 2023 Experienced crypto investors will be prepared to look through any near-term inflation and interest rate news, says Nigel Green.
Crypto markets correct after Bitcoin’s short-lived fling with $25k February 22, 2023 The price of Bitcoin was down around $24,180 this morning, with Ethereum similarly in the red by 3.5%, changing hands for $1,645.
Our post-Brexit relationship cannot be left in the hands of ideologues February 22, 2023 Cast your mind back to Christmas 2020. As most of us settled into the sofa for a Christmas behind-closed-doors, shuttle diplomacy saw the UK finally secure a Brexit deal with the EU on the country’s future relationship with the trading bloc. Boris Johnson hailed it as “glad tidings of great joy.” To all the world [...]
Next: Share price up for luxury interior brand Sanderson Design after £2.6m licensing deal February 22, 2023 The share price of luxury interior furnishings group Sanderson Design skyrocketed 12 per cent to 132.7pt this morning, after a £2.6M licensing agreement with London listed retailer Next was announced. The group will sell its Clarke & Clarke products, which includes wallpaper and rugs, in Next’s online and physical stores, with the deal meaning a [...]
Scottish Power owner Iberdrola expects hefty profit rise before windfall tax February 22, 2023 Scottish Power owner and Spain's biggest utility firm Iberdrola expects its net profit to increase by eight to ten per cent this year.
