HMRC action yields £0 in half of all tax probes but taxman hits back: ‘We are not driven solely by money’ March 8, 2022 HMRC investigations into individuals and small businesses last year yielded no returns in nearly half of of all cases, according to new research shared with City A.M. this afternoon. The proportion of investigations which returned no money to the Treasury has risen by over a third, to 47 per cent last year up from 31 [...]
China calls friendship with Putin ‘ironclad’ amid heavy fighting and claims 10,000 Russian soldiers are now dead March 8, 2022 China’s foreign minister has called Russia his country’s “most important strategic partner” as Beijing continues to refuse to condemn the invasion of Ukraine despite growing pressure from the US and European Union (EU) to use its influence to rein Moscow in. Wang Yi said Chinese ties with Moscow constitute “one of the most crucial bilateral [...]
House prices increase at fastest annual pace since 2007 as property values jump by almost 11 per cent March 7, 2022 House prices increased at the fastest annual pace since 2007 in February to reach a new record high, according to an index. At 10.8 per cent, the annual rate of house price growth was the strongest since June 2007, Halifax said. The increase took the average house price across the UK to a new record [...]
Brexit impact minimal as London lost only 7,500 jobs due to UK’s departure, says EU-born City mayor March 7, 2022 The City of London’s mayor, Irishman Vincent Keaveny, rejects any notion that London is losing its position as Europe’s financial capital. In fact, the Square Mile has lost less than 7,500 jobs as a result of the UK’s departure from the EU, Keaveny said, while City firms employ more than 500,000 people. “A certain number [...]
En+ Group loses Lord Barker as chairman as Russian energy giant considers separating international unit March 7, 2022 En+ Group said this morning it has started a review of its strategy on Rusal , thereby considering a separation of the aluminium company’s international business, the energy giant clarified in a statement. Moreover, Gregory Barker, who has served as executive board chairman at En+ since November 2017, has resigned. “A strategic review is currently [...]
Disbelief and outrage as UK turns away 150 refugees from Ukraine March 7, 2022 There is outrage and disbelief on both sides of the Channel this morning after it emerged that the UK reportedly turned away around 150 refugees from Ukraine at the border. They were reportedly refused entry into the UK when they tried to cross over from Calais to Dover. France reacted furiously, accusing the UK of [...]
‘Appalling’ war prompts Linklaters to pull out of Russia and close down its entire Moscow office after 30 years March 7, 2022 Legal giant Linklaters confirmed to City A.M. it is closing down its entire Russian operations, after a presence of more than three decades. In an email, the Magic Circle law firm said that, after careful consideration and “as the appalling war in Ukraine continues, we will wind down our operations in Russia and close our [...]
Polluting London drivers to be hit with daily fee of £12.50 as Sadiq Khan plans to expand Ultra Low Emission Zone to entire city March 6, 2022 London Mayor Sadiq Khan said today that he plans to expand the capital’s Ultra Low Emission Zone (Ulez) to cover the entire city in a push to cut pollution and congestion. Mr Khan has asked Transport for London (TfL) to consult on extending the scheme’s boundary from the North and South Circular Roads to the [...]
Rich Brit kids: Number of UK millennial millionaires doubles as crypto, startups and meme stocks power fortunes March 6, 2022 The number of UK millennial and Generation Z millionaires has hit a record high, doubling to 2,000 in the most recent year from 1,000 the previous year, according to new researched shared exclusively with City A.M. this morning. The data also shows a 28 per cent increase in millennial and Gen Z taxpayers declaring income [...]
Amazon makes major U-turn by shutting all book stores and physical shops in UK March 6, 2022 E-commerce giant Amazon has said it is planning to shut all of its book stores as well as its other brick-and-mortar shops and pop-up stores in the UK and US. The shock announcement to close down all 68 book stores, as well as shops that offer toys and home goods in Britain and the US, [...]
