UK economy to return to anaemic growth as cost of living crisis spikes Brits November 30, 2021 A triple threat of a worsening cost of living crisis, higher interest rates and a pulling of government Covid-19 support will throw the UK economy back into an anaemic state, according to new research published today. Swelling energy bills and rising costs for basic necessities will cause households on tight budgets to rein in spending, [...]
Global markets dip as Moderna chief sounds alarm on Omicron November 30, 2021 Alarming comments over the potential severity of the Omicron variant made by the chief of a leading Covid vaccine maker spooked markets today. The capital’s premier FTSE 100 index dipped 0.25 per cent to 7,082.19 points, while the mid-cap FTSE 250 index, which is more aligned to the health of the UK economy, fell 0.37 [...]
Former government minister’s firm Sensyne slapped with £400,000 fine over covert bonuses November 30, 2021 A healthcare technology company led by a former business minister has been slapped with a £400,000 fine for failing to disclose bonuses paid to executives. Sensyne Health, headed by Lord Drayson, announced today it had been reprimanded by the London Stock Exchange (LSE) for paying secret bonuses to a c-suite executive and the peer. A [...]
London pips European rivals to smart city crown November 30, 2021 London has muscled out its continental rivals to take the top spot in Europe as the most technologically advanced city, according to research shared with City A.M. today. The capital’s world-leading innovation, vibrant cultural scene and high-performing universities cemented it as one of the top performers on Z/Yen’s Smart Cities Index. London was the top [...]
Swelling costs threaten to throw UK businesses into a ‘winter freeze’ November 30, 2021 A “winter freeze” is looming over UK businesses triggered by the ongoing supply chain crisis swelling costs at a record pace, according to fresh figures published today. Shortages of key materials used by firms engineered by global logistics systems gumming up has raised prices across the board, crimping businesses’ margins. Research by the Confederation of [...]
Leading UK businesses hand over half of their income to government through taxes November 30, 2021 The UK’s leading businesses are handing over half of the money they generate to the government in taxes, according to a fresh study published today. FTSE 100 companies gave up 53.2 per cent of their income to the public coffers last year, illuminating the heavy tax burden British businesses are being shackled with. Over one [...]
Accenture to create 3,000 new highly skilled tech jobs in UK November 30, 2021 A leading technology professional services firm is ramping up hiring in the UK off the back of Britain’s strong economic recovery from the Covid-19 crisis. Accenture is creating 3,000 new highly skilled technology jobs in the UK over the next three years, the firm announced today. 1,500 of the roles will be based in London, [...]
Founder of former Cameron employer Afiniti steps down from investment firm amid sexual assault allegations November 29, 2021 The founder of former prime minister David Cameron’s former employer, Afiniti, has lost his role as chief executive of his investment firm after he became embroiled in sexual assault allegations. Zia Chishti stepped down yesterday as chief of TRG Pakistan two weeks after he left his role at Afiniti after he was accused of assaulting [...]
Punch Pubs owners mull sale after suitors come calling November 29, 2021 The owners of Punch Pubs and Co, one of the UK’s largest pub operators, are mulling a sale of the firm after receiving a flurry of approaches despite ongoing Covid-19 headwinds. Fortress Investment Group, the US investor owned by Japan’s SoftBank, is in talks to buy Punch for a price reportedly in the region of [...]
Code red Omicron scenario would setback UK economic recovery, warn experts November 29, 2021 The UK economy would suffer a severe setback in its battle to revert to pre-pandemic strength if the Omicron variant proves to be deadly, City economists have warned. If the heavily mutated strain of the virus is capable of evading vaccines and the UK government reimposes blanket lockdown measures, the economy would shrink back to [...]