Government borrows £18.8bn in October as debt to GDP remains elevated November 19, 2021 The government borrowed the second highest amount of money on record in October as the pandemic continues to hit the public finances. The government borrowed £18.8bn in October, the second highest monthly figure since record began in 1993. The borrowing figure was much higher than expected. Experts had expected public sector borrowing to fall to [...]
Ollie Phillips: The Boks play simple, boring rugby, but winning is winning November 19, 2021 In tomorrow’s match with South Africa, England have their hardest test. Why? Because they know exactly what they’ll be coming up against. The Springboks don’t often play exciting rugby – it’s simple, boring rugby. They try to bully you, outmuscle you and, when in doubt, send the ball skyward and harass the catcher. It’s not [...]
Spacetech fund reports buoyant growth with assets hitting £221m November 19, 2021 Defined as the world's first listed fund focused on spacetech, Seraphim Space Investment Trust reported a 26 per cent growth in net assets to £221m in its quarterly results this morning.
Second-hand shopping lifts retail sales above pre-pandemic levels November 19, 2021 Retail sales jumped over the last month as consumers flocked to charity shops, according to data from the Office for National Statistics published today. Retail sales jumped 0.8 per cent over the last month and soared above pre-pandemic levels. Spending at second hand clothes stores climbed over the last month, driving overall retail sales higher [...]
Kingfisher maintains strong sales after lockdown boom in DIY and home improvements November 19, 2021 Kingfisher continues to enjoy strong sales despite the easing of pandemic restrictions and increased interest in DIY and home improvements.
City broker gives employees paid month annually to ‘relax’ November 19, 2021 City broker FinnCap will offer unlimited paid time off to help boost employee satisf
City Moves: Who’s switching jobs in the Square Mile this week? November 19, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. C. Hoare & Co. Private bank C. Hoare & Co. has posted a former JP Morgan executive to its board as a non-executive director. India Gary-Martin brings some 25 years of experience to the role, from across [...]
Supping with the devil: Germany must wake up about Nord Stream 2 November 19, 2021 As far back as the 14th century, Geoffrey Chaucer put it very well in political risk terms when he said in “The Squire’s Tale” of Canterbury Tales, “He who sups with the devil should have a long spoon”. In mercantilist Germany’s case—where its foreign policy is all too often only an excuse for its export-driven [...]
It’s about time for Rishi Sunak to make his mind up on road tax for electric vehicles November 19, 2021 Britain is firmly on the front foot towards a transition to electric vehicles. Last week, as he unveiled a new design for charging stations, Transport Secretary Grant Shapps said he hoped they would become as iconic as the black cab. The government’s newly announced zero emissions vehicle (ZEV) mandate will set electric vehicle sales targets [...]
A Churchillian answer to the Covid-19 debt: what we need is emergency consols November 19, 2021 The budget numbers are stark: taxes rising to their highest since the 1950s, government debt hitting 97 per cent of the national income, and that’s if we’re lucky. Much of the problem is down to the cost of pandemic measures—furlough, welfare, business loans and lower lockdown tax revenues—of around £550bn, equating to £20,000 for every [...]
