Manufacturers call for EU trading reset to be top of new PM’s to do list July 18, 2022 Industry leaders are urging the new Prime Minister to renew trading relationships with the European Union after new research showed it remained the “dominant” market for manufacturing exports. A study by Make UK and business advisory firm BDO suggested that regions which voted for Brexit have increased their dependence on the EU for manufacturing exports, [...]
Soaring business costs trigger wave of profit warnings July 18, 2022 Swelling costs have crimped UK companies’ margins, leading to a surge in profit warnings, reveals a new report published today. The volume of profit warnings sounded by UK-listed companies climbed 66 per cent in the first half of this year compared to the same period in 2021, up to 136 from 82, according to EY-Parthenon. [...]
War for talent swells new starter City pay packets July 18, 2022 Pay packets in the Square Mile are bulging as banks, insurers and brokers try to outbid each other to lure top talent amid a tight jobs market, reveals a new survey released today. Finance workers that switch employers received an average 25 per cent pay bump in the three months to June, according to recruiter [...]
UK banks ramp up lending after Covid-19 support cliff edge July 18, 2022 UK banks are ramping up lending, marking the end of a loan drought after government Covid-19 support schemes were ditched. The total value of lending to UK businesses climbed £12bn to £533bn in the nine months to May, according to research based on Bank of England data published today by debt advisor ACP Altenburg Advisory. [...]
Ex-GSK Haleon lands on London market despite economic turbulence July 18, 2022 Haleon, GlaxoSmithKline’s (GSK) former consumer health division, will list on the London market today as a standalone entity. It is a sign of changing tides on the London Stock Exchange, which for years has heavily relied on oil, mining and financial firms. The new FTSE healthcare heavyweight, which awaits a response on its application to [...]
Rishi Sunak will put City back at heart of Westminster decision making July 18, 2022 Tomorrow the Chancellor of the Exchequer will deliver the Mansion House speech, an annual milestone in the calendar of bankers, brokers, financiers and fiscal hawks in which the Chancellor’s vision for our financial services sector is outlined in a room with the UK’s most senior business leaders. Only two weeks ago I was working with [...]
Eurostar sees faster than expected business travel rebound July 18, 2022 Business travellers are once again letting the train take the strain, with Eurostar reporting numbers heading back to pre-pandemic highs. The St. Pancras operator’s newest data suggests business travel has returned to 70 per cent of 2019 levels, with 80 per cent of business passengers expecting to travel more or the same than in 2019, [...]
Re-do Brexit? Let’s use the levers we already have July 18, 2022 Please, not again, Even in this groan-inducing contest, Penny Mordaunt’s pledge to ‘re-do’ Brexit was enough to leave even the most ardent Westminster watcher in despair. The idea of revisiting the interminable summits and political bravado that defined our politics – and crowded out anything more productive – for years is surely one for the [...]
Letters: Going down with the ship July 18, 2022 [Re: Another one gone in Tory PM contest, July 15] It seems to me that choosing the next Tory leader could hardly be simpler. Johnson’s demise came about because he lied, lied and lied again. If you want honesty and reliability it’s logical to dismiss as unsuitable for leadership those who, pretty much daily, toured [...]
Ex-No. 10 comms chief Jack Doyle heads for Square Mile PR firm July 18, 2022 A FORMER Daily Mail political journalist who became Boris Johnson’s Director of Communications will take a senior role at City PR firm Headland, City A.M. can reveal. Jack Doyle, who resigned from an embattled Downing Street in February, will become a partner at the Cannon Street outfit. Doyle is the latest in a line of [...]
