Rise & grind: Employers splurge on keeping teams caffeinated while working remotely April 6, 2021 Employers kept staff fed and caffeinated while working from home during the pandemic, making up for the loss of coffee and sweets available at the office by expensing Starbucks and Deliveroo orders. Keeping teams fed and caffeinated while working remotely made up nearly 36 per cent of all expenses claimed during January to November 2020, [...]
IMF raises growth forecast for UK and global economy after vaccine successes April 6, 2021 The International Monetary Fund (IMF) has raised its forecast for UK economic growth, which is set to outpace the euro zone this year after its slump in 2020, but is unlikely to regain its pre-pandemic size until 2022. The IMF said the economy will grow by 5.3 per cent in 2021, up from a previous [...]
Banks avoid dipping into cash buffers despite regulatory pressure April 6, 2021 Britain’s banks have not dipped into their capital buffers to lend to customers during the pandemic, despite being encouraged to do so. Most big banks have built up their capital strength in the past year, despite being told by officials to deploy money to help businesses, The Times reported. The Prudential Regulation Authority said that [...]
Exclusive: Finance professionals want more flexible working week post-Covid April 6, 2021 People working in financial services want to see changes to their working week post-Covid, like flexible hours or choosing where to work from. More than half (54%) of financial services employees want their organisation to offer alternative working patterns such as flexible hours or the option of remote working, according to new research from Deloitte. [...]
More than half of London businesses expect long-term Brexit disruption April 3, 2021 The majority of UK firms experienced some form of trade disruption following Brexit, and many expect there to be long-term disruption as a result of the new EU trading arrangements. Three-quarters (75%) of businesses have experienced some Brexit trade disruption and almost half (49%) say they expect some sort of disruption to continue in the [...]
Commerzbank to cut 1,700 jobs following deep losses April 1, 2021 Commerzbank will offer voluntary redundancy to some 1,700 full-time staff in Germany, in a bid to cut costs at the bank. Entitled employees will be offered termination agreements from July 2021, and employees who make use of the voluntary programme will leave the bank by the end of the year. The decision comes after Germany’s [...]
London Stock Exchange Group faces investor revolt over CEO’s pay April 1, 2021 The London Stock Exchange Group (LSEG) is facing a backlash from investors after deciding to hike its chief executive’s salary by more than £200,000. Some of the company’s biggest investors plan to vote against its remuneration report when it holds its annual meeting later this month, Sky News first reported. The anger centres on the [...]
Missed the spark: Volkswagen share price dips following ‘Voltswagen’ April Fool’s joke April 1, 2021 Volkswagen’s share price fell today after the American arm of the company issued a false announcement claiming it was changing its name to ‘Voltswagen of America’. The stunt, which came just ahead of April Fool’s Day, was meant to call attention to its electric vehicle efforts. But the joke fell flat on social media, with [...]
More than one in 10 mid-sized businesses found errors in their furlough claims April 1, 2021 Mid-sized businesses that have reviewed their initial furlough claim and found it to be incorrect have been urged to go to HMRC to address the problem and lessen any penalties faced. More than one in 10 (13%) mid-sized businesses that have reviewed their initial furlough claim found it to be incorrect, new research by Grant [...]
Time Out looks to raise £17m in upcoming fundraise April 1, 2021 Time Out is looking to raise £17m as part of an upcoming fundraise ahead of what it hopes will be a renaissance of culture and going out in the city. The publisher and markets owner will tap markets for £2m more than initially planned following strong demand from institutional investors. The £17m represents 17.1 [...]
