Saturday Sitdown: Credit Suisse’s global investment boss on the dawn of a new world order March 5, 2022 The Russian invasion of Ukraine has accentuated geo-political risks, further fueling volatility on financial markets and unsettling investors. These developments mark a clear shift to a new world order, Michael Strobaek, Credit Suisse’s global chief investment officer, told City A.M. in an exclusive interview. “This new world order will make risk management as well as investing [...]
As first time buyers save for an average of four years, half of them give up on ownership dream March 5, 2022 First-time buyers are saving for an average of four years in order to raise the deposit to get on the property ladder, new research showed today. The number of first-time buyers rose to nearly 410,000 last year with average deposits estimated at around £53,935 but affordability is still being squeezed with house prices estimated to [...]
Exclusive: Tax probe yields hit staggering £30bn as HMRC fights to recoup lost Covid revenues March 5, 2022 The total revenue HMRC generated from tax investigations and other compliance activity has risen to £30.8bn in 2021, up from £28bn in 2020 as it looks to pursue tax lost to evasion or avoidance during the pandemic, lawyers have told City A.M. this morning. HMRC had to suspend some tax investigations work for part of [...]
Wife of Russian on Kremlin’s ‘most-wanted list’ told to pay up for lights at her £22m Surrey home March 4, 2022 A Russian woman whose husband is said to be on “the Kremlin’s most-wanted list” must pay more than £160,000 after being sued by a company that installed fountains and garden lights at her “£22 million” home in Surrey, a judge has ruled. GSL Installations said Elsina Khayrova owed more than £240,000 for work done at [...]
Shares nosedive across Europe as burning Ukrainian nuclear plant terrifies traders: FTSE lowest since October March 4, 2022 All major markets across Europe are reacting this morning with horror to the fire at Europe’s largest nuclear power plant amid shelling by Russia in the area. Although the situation is reportedly under control, stock indexes were down across the continent, with London’s top index, the FTSE 100, dropping to its lowest point since October [...]
Calls grow worldwide to drag Vladimir Putin to special tribunal and let Russian president stand trial for war crimes March 4, 2022 Gordon Brown, UK Prime Minister from 2007 to 2010, is urging countries to support the creation of a special tribunal to punish Vladimir Putin for the crime of aggression against Ukraine. He joined Ukrainian foreign minister Dmytro Kuleba at an online event organised by the Chatham House think-tank, where pleas were made for Western nations [...]
Ukraine war turns nuclear as Russian shells fall directly onto Europe’s largest power plant amid heavy fighting March 4, 2022 Fears grow for an explosion as Russian forces are shelling the continent’s largest nuclear power plant, which has reportedly caught fire around 1am UK time. Nuclear plant spokesman Andriy Tuz told Ukrainian television that shells fell directly on the facility, and set fire to a reactor that is not operating and to an administrative training [...]
Construction sector back in boom mode as price increases slow March 4, 2022 After months of heavy price increases, the rapid cost hikes in the construction sector showed further signs of easing off in February, according to fresh data published this morning. Builders reported they were still facing problems in supply chains, and that prices for materials and other inputs rose in February. But the reported rise was [...]
Shape of You: Ed Sheeran at London’s High Court for legal battle over copyright of his biggest hit March 4, 2022 Music star Ed Sheeran has arrived at the High Court for the start of a three-week legal battle over the copyright of his hit song Shape of You. The singer-songwriter, wearing dark suit and tie, appeared in Court 15 of the Rolls Building in central London. Sheeran is involved in a dispute with two songwriters [...]
Russia blocks BBC after fierce Kremlin criticism and RT ban across Europe March 4, 2022 BBC Russia says there have been reports there are problems accessing its website in Russia. German public broadcaster Deutsche Welle reported, in Russian, that the BBC site was not working in Russia. According to a tweet posted by BBC Russian in Russian and translated into English, Meta (formerly known as Facebook) also appears to be [...]
