Top lawyer at City firm attacks £100,000 starting salaries October 23, 2020 The senior partner of a top law firm has criticised starting salaries soaring to six figures for some newly qualified solicitors saying they are “unsustainable”. “The levels of pay in major private practice law firms are completely unsustainable”, Richard Foley, senior partner at Pinsent Masons told the Innovative Lawyers Summit on Thursday. “You see stuff [...]
New covid rules mean ‘don’t bother opening’ says Mark Hix October 23, 2020 I’m presently sitting in my fish truck in Lyme Regis, where I’ve been since the crack of dawn so I can get the best produce straight from the local fishermen. It’s a far cry from the life I had this time last year, when I might have been preparing the staff at Hix Soho for [...]
Coronavirus: UK economic recovery stumbles as business growth slips October 23, 2020 The UK economy’s recovery stumbled in October, according to a new survey, with services sector growth slowing considerably amid rising coronavirus cases and new government measures. The IHS Markit/Cips preliminary purchasing managers’ index (PMI), a gauge of the private sector’s health, fell sharply to 52.9 in October from September’s reading of 56.5. A score above [...]
Screenshot: Will the UK’s live music industry ever recover? October 23, 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: Sky History gets tattoo regret ** Can the live music sector survive this crisis? ** The tide turns against Google Media Moment of the Week This week we [...]
Holiday Inn owner IHG says bookings subdued amid tighter restrictions October 23, 2020 Holiday Inn owner Intercontinental Hotels Group (IHG) said bookings remained subdued in the third quarter, as tighter restrictions introduced in September dampened the sector’s tentative recovery. Group revenue per available room was down 53.2 per cent reflecting a 30 percentage point drop in occupancy year on year. However, occupancy improved to 44 per cent in [...]
Deja vu: Eurozone businesses back in decline as Covid cases jump October 23, 2020 The Eurozone’s private sector slipped back into decline in October as coronavirus ripped through the region and new restrictions hit countries’ service sectors and wider economies, according to a new survey. The preliminary IHS Markit Eurozone composite purchasing managers’ index (PMI) – which measures the health of businesses – dropped to 49.4 in October from [...]
Which stock markets look cheap as we enter the final quarter of 2020? October 23, 2020 While the virus itself hasn’t gone away, as far as financial markets are concerned, the pit of misery was back in March. At that point, a typical global market stock market portfolio had haemorrhaged around a third of its value in just six weeks. Stocks have soared As is often the case, peak despair turns [...]
Jes Staley confirms intention to stay on as Barclays beats expectations October 23, 2020 Jes Staley has signalled his intention to remain at the helm of Barclays after the bank reported better-than-expected results in the third quarter. In a call with reporters Staley said he would like to lead the bank for two more years, after Barclays today reported a return to profit for its consumer division. Between July [...]
US private equity firm Lone Star to buy developer McCarthy & Stone for £630m October 23, 2020 US private equity firm Lone Star has made an offer to buy UK retirement property developer McCarthy & Stone for £630m. McCarthy & Stone has recommended that shareholders approve the deal, which represents a premium of 38.6 per cent to yesterday’s closing share price of 83p. The board said the offer represents “fair value” for [...]
