Can China really become carbon net zero by 2060? March 24, 2021 At the UN General Assembly in September 2020 China’s President Xi Jinping pledged that the country would become net zero by 2060. This was a surprise move that has been hailed as a significant step forward in the global effort to address the Climate Crisis, given that China is responsible for around 30% of global [...]
Government agrees £16bn North Sea transition deal for oil industry March 24, 2021 The government and private sector will pour £16bn into the North Sea oil industry over the next decade in a bid to reduce carbon emissions, business secretary Kwasi Kwarteng announced today. Under the new “North Sea Transition Deal”, ministers will be able to block future oil and gas exploration on the continental shelf if it [...]
FTSE 100 slips as fears of third Covid wave spark recovery concerns March 24, 2021 London’s FTSE 100 dipped by 0.2 per cent on Wednesday as a jump in Covid cases across Europe sparked concerns about its near-term economic impact. The blue-chip index was edged down by bank stocks including HSBC, Barclays and Lloyds falling between one per cent and 1.5 per cent. British consumer price inflation fell to 0.4 [...]
TSB chair Richard Meddings to step down after three years March 24, 2021 TSB chairman Richard Meddings has announced plans to step down from his position later this year. Meddings, who became chairman in February 2018, will continue to lead the board while the search for a successor takes place. Is chairman is not moving to another role, but already hold a number of non-executive roles beyond his [...]
BT frontline workers to bag £1,500 bonuses and shares March 24, 2021 BT has offered its frontline workers a bonus of £1,500 in recognition of their efforts to keep its customers connected during the pandemic. The bonus, equivalent to around five per cent of their average salary, is being made to 59,000 workers despite the broadband provider freezing pay across the company. The company is in discussions [...]
Bloomsbury hikes profit forecasts again as Brits binge on books March 24, 2021 Bloomsbury today lifted its revenue and profit forecasts for the second time in as many months as it hailed “exceptional” sales as a result of the pandemic. The publishing house, best known for the Harry Potter series, said it expected revenue of £171m in the year to the end of February, while pre-tax profit is [...]
UK housebuilder Bellway ups selling price expectations and reinstates dividend March 24, 2021 Bellway this morning reinstated its dividend and upped its selling price expectations for this year as the UK housebuilder reported strong demand for new homes. The FTSE 250 developer said the full-year average selling price is now forecast to be more than £295,000, up from a previous estimate of £293,054. It announced it will reinstate [...]
FCA gives tentative go ahead on Amigo’s compensation scheme March 24, 2021 The Financial Conduct Authority (FCA) has said it has no current plans to take further regulatory action against a compensation scheme set up by loans lender Amigo – though it has reserved the right to change its mind. The scheme was set up by Amigo to address compensation for indebted clients who complained about its [...]
Elon Musk: ‘You can now buy a Tesla with Bitcoin’ March 24, 2021 Tesla chief Elon Musk has just revealed his electric vehicles can now be bought using Bitcoin.
Covid-19, a year on: What small businesses have learnt March 24, 2021 In this series, City A.M. looks back at the last year of the pandemic and Covid restrictions and takes stock of its impact on industries and issues at the heart of British society. Read more: Read the full Covid-19, a year on series here. Some you win, and some you learn. Small businesses have certainly been “learning” [...]
