TfL funding crisis: Khan hits back after London minister tells mayor to ‘get real’ on Tube cuts TfL funding Mayor Sadiq Khan tonight hit back at claims from the central Government that he needs to “get real” about Transport for London’s funding crisis as the clock ticks down. ” If TfL is forced to make significant cuts to services it will risk our city’s economic recovery,” Khan said. Minister for London Paul Scully earlier today [...]
UK investors cheer third quarter dividend windfall UK investors cheer third quarter dividend windfall As supply chain, labour and inflation storm clouds gathered on the horizon, City investors toasted an overflowing dividend pot and the end of this summer – boosted by the FTSE’s mining, oil and banking companies. Total UK dividends soared to £34.9bn in the three months to 30 September, up by nearly 90 per cent on [...]
Clear as mud: EU hints at extension to City’s equivalence deal for euro-clearing EU hints at extension to City's equivalence deal for euro-clearing The EU’s head of financial services yesterday hinted at a possible extension to the post-Brexit carry-over deal which allows banks from the bloc to access clearing houses in the City. Mairead McGuinness told the Financial Times that Brussels was minded to avoid a “cliff edge” situation and avoid market instability. “We have to make sure [...]
Cop26 sponsor NatWest named and shamed for links to Arctic oil and gas drillers September 27, 2021 NatWest is under scrutiny from campaigners due to it financing fossil fuel developers while sponsoring the Cop26 climate summit NatWest is the banking sponsor of the Glasgow conference — where countries will pledge to reduce carbon emissions as part of a wideranging global effort — but was still providing underwriting and loans to energy companies [...]
Here’s how much you must put into your child’s JISA to get them on the housing ladder September 6, 2021 Parents and grandparents face putting away more than £3,000 per year typically to help children on to the property ladder in adulthood, and in London it’s more than double that. A child born in 2021 would need average annual deposits of £3,129 into their Junior Isa (Jisa) to afford the average UK first-time buyer deposit [...]
PCR test firm for travel being investigated over results, refunds and service September 3, 2021 One of the UK’s largest and cheapest PCR test companies focussed on travel is under investigation by the competition watchdog over several service failings. Expert Medicals faces allegations that tests and results were not provided in a timely manner, or at all in some cases, bosses failed to respond to complaints and refunds were not [...]
EU vs Astrazeneca: Vaccine legal battle over as UK pharma pledges jab deliveries September 3, 2021 The legal stand-off between the European Union (EU) and FTSE-listed Covid-19 vaccine maker Astrazeneca appears to be over. Astrazeneca and the European Commission have reached a settlement on the delivery of 200m vaccine doses still to be delivered by the drug com[any, ending a row about shortages that had heightened reputational damage on Astra and weighed [...]
City A.M. TV: A market snapshot September 3, 2021 Following Powell’s dovish speech at Jackson Hole last week, markets have been re-pricing the liquidity environment. In particular, the dollar has been notably weaker, commodity prices have rallied, and equities have pushed out to new highs. In the US that’s been most marked in the S&P500 and the NASDAQ100. The key question therefore, at this [...]
Instagram down: Users vent frustration as photo sharing app fails to update September 2, 2021 Photo-sharing app Instagram appears to be down in the UK, with the app unable to update users’ news feeds with a fresh flow of photos. An error message is appearing on people’s app which says that there is an issue with Instagram refreshing It reads: “We’re sorry, but something went wrong. Please try again.” Users [...]
Telefonica ‘taps investment bankers at Barclays’ to find partner for Virgin Media O2 fibre rollout September 2, 2021 Virgin Media O2’s Spanish co-owner Telefonica has reportedly hired investment banks Barclays and LionTree to seek a partner to finance its fibre network rollout across the UK in Britain, according to Spanish media outlet El Confidencial.. Virgin Media O2, which merged together two dominant players in the home broadband and mobile industry last year and [...]
