Wall Street opens higher but FTSE 100 slips as virus cases continue to rise November 13, 2020 Wall Street opened higher this afternoon as upbeat earnings from major companies helped markets shrug off concerns about rising Covid-19 cases. The S&P 500, Dow Jones and Nasdaq were all trading up roughly 0.8 per cent this afternoon. US stocks had seen their rally halted yesterday as investors weighed the timeline for a mass rollout [...]
Google boss apologises to EU chief over plans to dodge antitrust laws November 13, 2020 Google chief executive Sundar Pichai has apologised to EU industry chief Thierry Breton after leaked documents revealed plans to attack the commissioner over new antitrust laws. In a video conference last night, Pichai insisted he had not seen or signed off on the document and apologised for the way it had come out. The internal [...]
BoE’s Cunliffe: ‘Not our job’ to protect banks from digital currencies November 13, 2020 Bank of England deputy governor Jon Cunliffe has said it is not the bank’s job to protect other banks from the impact of future digital currencies. Speaking an on online seminar today, Cunliffe said: “Our job is not to protect bank business models. Banks will have to adjust. Our job is to ensure that if [...]
BoE warns insurers are being ‘optimistic’ in Covid-19 estimates November 13, 2020 Insurers risk being optimistic in estimating losses from Covid-19 related claims and should stress-test their underlying assumptions, the Bank of England has warned. In a letter to insurers today, the BoE set out its findings from a review across the general insurance sector on reserving, managing exposures and dealing with uncertainty over contracts in light [...]
France are my favourites for the Autumn Nations Cup, a Six Nations with extra spice November 13, 2020 I’m a glass-half-full person, so I can’t help but be excited that the Autumn Nations Cup is happening. Given everything, fans and players just have to be grateful we’ve got some international rugby with silverware to play for. OK, we haven’t got New Zealand, South Africa or Australia coming over as usual. But we to [...]
The Mandalorian season 2 episode 3 review: S2E3 action and revelation in hit show November 13, 2020 *** SPOILERS AHEAD: If you haven’t watched the most recent episodes of The Mandalorian Season 2, look away now*** Thus far, The Mandalorian Season 2 has been about self-contained adventures, where the fun comes from the twists and turns in our hero’s path. This week was a bit more action packed, with some huge plot [...]
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 [...]
