Fiscal watchdog to hike growth forecasts to highest on record at budget October 19, 2021 The government’s independent fiscal watchdog will make the biggest ever upgrade to the UK’s economic growth rate at the budget next Wednesday. The Office for Budget Responsibility (OBR) will hike its forecasts for the British economy’s annual expansion rate to 7.5 per cent, according to the economic think tank the Resolution Foundation. This would be [...]
Regulate now or worry about it later: Klarna has rewritten its own rules – CityAM : CityAM October 19, 2021 Covid-19 accelerated the rocketship of Buy Now Pay Later schemes: over 10 million Brits used the service in 2020. This trend was growing before the pandemic though, with consumers drawn to a zero-interest product that saved them £76m in interest fees in 2020 that they would otherwise have paid on credit card interest. Before, consumers [...]
The CA Summit 2021: Grow chapter recap October 19, 2021 The CA Summit sponsored by Markel Tax returned for an event split across three days starting on 5 October, which brought together the brightest minds from the worlds of finance, academia, and the technology industry to deliver a series of challenging, thought-provoking and truly motivational seminars to inspire ICAS Members around the globe. Redefining data Vivienne Artz [...]
Tesco opens new check-out free store October 19, 2021 Tesco has launched GetGo, its first checkout-free store in central London. The new store trial will allow customers to shop and pay without scanning a product or using a checkout. It is rolling out the technology to Tesco Express High Holborn. Customers with the Tesco.com app will now be able to check-in, pick up their groceries walk straight [...]
Companies risk £2.6bn loss building UK gas power plants October 19, 2021 Companies building new UK gas power plants risk losing £2.6 billion because they will be forced to abandon them before they can regain their investment, warns a new report. Financial think tank Carbon Tracker argues that most gas plants that are planned or under construction in Europe and the US will never break even. The [...]
Government pushes UK households to ditch gas boilers with £450m upgrade scheme October 18, 2021 The government is encouraging households to swap fossil fuel boilers for low carbon alternatives with a £450m upgrade scheme. Households will now benefit from £5,000 government grants to install low carbon technologies such as a hydrogen-ready boiler or a heat pump. The grants will be available from next April, and will mean consumers will pay [...]
Boris Johnson hails £9.7bn in 2021 foreign investment at UK summit October 18, 2021 Boris Johnson will talk up £9.7bn in foreign investment deals the UK has attracted this year as he opens the three-day Global Investment Summit tomorrow. Johnson will open the summit, before having a “fireside chat” with Microsoft founder Bill Gates as the government continues its bid to increase business investment post-Brexit. However, the Prime Minister’s [...]
Labour renews pressure on government to slash business rates October 18, 2021 Labour will tomorrow renew its calls to slash business rates as it airs concerns that nearly 1m British jobs are currently at risk. Shadow chancellor Rachel Reeves will pile pressure on Rishi Sunak to entirely reform the taxation system in his autumn Budget, while pointing out that figures from the Office for National Statistics (ONS) [...]
Apple unveils upgrades for MacBook Pro laptops and AirPods October 18, 2021 Apple has announced the revamping of its MacBook Pro laptops and AirPods. Chief executive Tim Cook launched the redesigned earbuds and the first of the company’s improved high-end computers at a livestream on Monday. The new MacBook Pro comes with larger, sharper screens and M1 Pro and M1 Max chips, as the company continues its switch [...]
Clear as mud: EU hints at extension to City’s equivalence deal for euro-clearing October 18, 2021 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 [...]
