Exclusive: Shipping boss threatened staff with unpaid leave if they worked from home during lockdown January 11, 2021 The CEO of infrastructure facility provider Infrastrata told colleagues to defy government guidance and work from the office during the last national lockdown, or face unpaid leave. In an email sent to colleagues on 4 November and seen by City A.M., CEO John Wood told colleagues that anyone wishing not to come into the office during the lockdown [...]
Regulator urges firms ‘don’t delay’ as the end is nigh for Libor January 11, 2021 The Financial Conduct Authority (FCA) has again reminded firms they must complete their transfer away from the Libor benchmark interest rate this year. The city watchdog said firms had just one year left to remove their remaining reliance on these benchmarks. Libor, or the London Interbank Offered Rate, is an interest rate benchmark used in [...]
Ocado sounds alarm on product availability as supermarket shelves stand empty January 11, 2021 Ocado has warned that the availability of some products is being impacted by coronavirus-related staff absences in its supply chain. With more staff off sick or forced to isolate some grocery suppliers are having to consolidate their lines. “Staff absences across the supply chain may lead to an increase in product substitutions for a small [...]
City watchdog issues crypto warning as price of Bitcoin soars January 11, 2021 City watchdog the Financial Conduct Authority (FCA) has warned consumers that investing in cryptoassets is “very high risk”, after some firms promised high returns for the investment. The FCA said customers “should be prepared to lose all their money” if they invest in cryptoassets, which is considered a high risk and volatile investment strategy. The [...]
Revolut applies for UK banking license January 11, 2021 Revolut has applied for a UK banking licence, which would allow it to provide customers full service current accounts and products like overdrafts, loans and deposit accounts. A UK license would also mean customers had the security of protection of up to £85,000 under the Financial Services Compensation Scheme (FSCS), the UK’s lifeboat fund. Revolut [...]
Dr. Martens gearing up for stock market float January 11, 2021 Dr. Martens is readying itself for an IPO, and hoping to trade on the main market of the London Stock Exchange after more than 60 years in business. The iconic footwear brand has engaged Goldman Sachs and Morgan Stanley as join global co-ordinators, and Barclays, HSBC, Merrill Lynch and RBC Europe as joint bookrunners in [...]
Seven mass vaccine centres to open across England January 11, 2021 Seven new mass vaccine centres will open across England as part of the government’s new vaccine delivery plan, the details of which will be released later today. More than 1,000 vaccination sites have already been established across the UK, targeting first those most at risk from Covid-19. Speaking on Sky News this morning minister for [...]
Taxman snoops on 18,000 phone records and web histories January 11, 2021 HMRC made 18,464 requests to access communications data like phone records and web histories to aid its criminal investigations in 2019, according to city law firm RPC. The total number of communication requests was up slightly on 2018’s 18,263 requests. The latest available data was from 2019. The taxman can request data held by telecoms [...]
Alok Sharma to depart as business secretary as part of mini-reshuffle January 8, 2021 Alok Sharma will leave his role as business secretary to lead the Government's handling of the COP26 climate summit later this year
Trump won’t attend Biden inauguration this month January 8, 2021 Donald Trump will not attend the inauguration of his successor Joe Biden later this month, he has confirmed. The US President confirmed the news via Twitter this afternoon. He said: “To all of those who have asked, I will not be going to the inauguration on January 20th.” Vice President Mike Pence is expected to [...]
