St James’s Place net inflows slow amid ‘challenging’ environment October 27, 2020 Wealth manager St James’s Place (STJ) has recorded a rise in funds under management even as the pace of inflows slowed in the third quarter. As at 30 September, total funds under management increased to £118.7bn compared with £112.82bn in 2019. St James’s Place reported net inflows of £1.33bn in three months ended 30 September, [...]
Santander rebounds from historic loss as loan repayments pick up October 27, 2020 Santander returned to profit in the third quarter following a historic loss, upgrading its full-year forecasts as customers began to recover from the initial impact of Covid-19. Net profit at the Spanish lender trebled in the third quarter to €1.75bn compared to 2019, when Santander was hit by a large writedown in the value of [...]
Premier Inn owner Whitbread swings to huge loss due to hotel closures October 27, 2020 Premier Inn owner Whitbread (LON:WTB) swung to a huge loss in the first half of the year as revenue plummeted while its hotels were closed during coronavirus lockdowns. The figures In the six months ended 27 August, Whitbread posted a loss for the period of £660.5m, a drop of 483.6 per cent from £172.2m profit [...]
Doctor, Doctor: How can we cure our chronic NHS shortage? October 27, 2020 Shortages of PPE and ventilators have been at the top of the agenda during this pandemic, but such attention has masked a far more intractable problem: the global shortage of doctors. According to one forecast, in 10 years there will be a global deficit of 400,000 doctors, with that undersupply spread between 32 OECD countries. [...]
Covid-19 sparks bleakest UK hotel sector outlook ‘in 50 years’ October 27, 2020 UK hotel trading performance is expected to plummet next year due to the impact of the coronavirus pandemic on travel and tourism, the latest research showed in the bleakest outlook for the sector in 50 years. Research by accountancy giant PwC showed that hotel occupancy rates are forecast to be 55 per cent across the [...]
Coronavirus: Antibody levels drop by a quarter as second wave hits October 27, 2020 The proportion of people in England with Covid-19 antibodies has dropped by more than a quarter since the first wave of the pandemic, official figures have revealed. The findings of a major study into Covid-19 antibodies, published today, showed the number of people who tested positive for antibodies has fallen from six per cent to [...]
UK legal case launched against Fiat Chrysler over diesel emissions October 27, 2020 Auto giant Fiat Chrysler (FCA) is facing a £5bn UK legal challenge over claims that the carmaker concealed the true levels of emissions that its vehicles produced from customers. International law firm PGMBM has issued a case in the High Court alleging that up to half a million cars manufactured since 2008 were fitted with [...]
Exclusive: City Hall and government urged to tackle capital’s ‘jobs crisis’ October 27, 2020 The government and City Hall must work together to tackle the jobs crisis that is set to see more than 130,000 Londoners fall into long-term unemployment in 2020/21, a new report shared exclusively with City A.M. has argued. The Learning and Work Institute’s (LWI) report said Londoners had been hit particularly hard by the coronavirus [...]
Why I’m calling for a £15bn National Renewal Fund to support growing businesses October 27, 2020 Some 90 years ago, a government committee set up to examine the health of the British economy identified a persistent shortfall in funding for small and medium-sized businesses. This shortfall was termed the Macmillan Gap — named not after the politician but after the Scottish lawyer, Hugh Macmillan, who chaired the committee. As the saying [...]
Modern Monetary Theory: A shared delusion that will destroy the economy October 27, 2020 As Rishi Sunak announced another multi-billion-pound support package last week, most numerate people would have been boggling at the numbers. How are we ever going to pay all that money back? Surely it means years of austerity, high taxes, or debt for our children and grandchildren to repay? But there is a growing and increasingly [...]
