Exclusive: Building societies slash business lending by a third November 13, 2020 Building societies have slashed their business lending by a third in the five years, City A.M. can exclusively reveal. According to new figures from accountants BDO, the amount of money lent by the UK’s biggest building societies has dropped from £11.8bn in 2015/16 to just £7.9bn last year. The fall in lending comes at a [...]
Working from home may put women at a disadvantage: Warwick University November 13, 2020 Women who worked from home during the UK’s first lockdown reported a larger average decline in their productivity compared to men, according to a study published by Covid Economics. Women with children were worse affected than childless women. Ben Etheridge, an economics professor at Warwick University, led the study. He said that governments should consider [...]
Caffe Nero seeks rescue deal due to second coronavirus lockdown November 13, 2020 Caffe Nero has launched a restructuring plan to reduce costs due to the impact of the coronavirus pandemic on the coffee chain’s branches in city centre and transport hub locations. The high street cafe chain has appointed KPMG to advise on a Company Voluntary Arrangement following the introduction of a second coronavirus lockdown. City A.M. [...]
The Friday Interview: Oliver Peyton’s Unknown Pleasures November 13, 2020 Cocktails in a can are more than just gin-in-a-tin, says Oliver Peyton, the celebrity chef and entrepreneur behind a new line of premium, ready-to-drink cocktails. Unknown Pleasures launched in October – he spoke to City A.M.’s Andy Silvester about why hitting the ground running during lockdown is the right thing to do. We all know [...]
The City A.M. Punter Podcast EP:26 Cheltenham November Meeting November 13, 2020 Trainer Kerry Lee is our guest today, discussing a trio of her weekend runners at Cheltenham where Happy Diva looks to win the Paddy Power Gold Cup for the second year in a row. Racing editor Bill Esdaile looks at the best of the weekend action at jumps HQ, and Wally Pyrah talks us through [...]
Tesco apologises to customers over Christmas delivery booking delays November 13, 2020 Tesco has been forced to apologise to customers facing delays trying to book a delivery slot for Christmas shopping following a surge in demand. The supermarket said this morning that it had placed shoppers in a “virtual waiting room” to help it manage the influx of customers trying to secure a home delivery for the [...]
EU watchdog seeks to quell worry over cross-border investment funds November 13, 2020 The EU’s securities watchdog has said there is no call for a fundamental change in how investment funds in the European Union can be run by asset managers based outside the bloc. The European Securities and Markets Authority (ESMA) alarmed the global funds industry in August when it said that safeguards introduced ahead of Brexit [...]
Carillion ‘recklessly’ misled markets before collapse, says UK watchdog November 13, 2020 The Financial Conduct Authority (FCA) has today announced that it intends to take further action against failed outsourcer Carillion for “misleading” shareholders with false information. In a warning notice published today the watchdog said that a number of senior executives were “knowingly concerned” in numerous breaches of market rules, and had acted “recklessly”. These include [...]
BEIS audit reform proposals expected to be made public in the new year November 13, 2020 Reforms to the audit sector outlined by the Department for Business, Energy and Industrial Strategy (BEIS) are expected in the new year, with full implementation expected in 2023. Mazars head of audit Bob Neate told industry magazine Accountancy Age he expected BEIS to deliver around 110 recommendations drawn from three major reports into auditing. The [...]
Screenshot: Is this the end for impartial TV news? November 13, 2020 A weekly column from City A.M. bringing you all the biggest stories and trends in technology, media and telecoms This week **Media Moment of the Week: How not the book the Four Seasons **Is this the end for impartial TV news? **UK protectionism: A tech takeover balancing act Media Moment of the Week This one’s [...]
