Chancellor Rishi Sunak no longer rules out Tory leadership bid if Boris Johnson is forced out February 3, 2022 Chancellor Rishi Sunak refused to rule out a leadership bid if Boris Johnson is forced out as he acknowledged the Government needed to rebuild trust after the “partygate” disclosures. Despite deepening disquiet in the Tory ranks, Sunak insisted the prospect of a leadership contest remained a “hypothetical situation” and that the Prime Minister had his [...]
Nothing left: Less than one in three Brits to receive an inheritance despite overall pot growing fast February 3, 2022 Less than one in three Brits expect to get an inheritance from their family, partner or other loved ones, while those who are already relatively well off being significantly more likely to benefit, according to new data shared with City A.M. this morning. While the overall value of inheritances is expected to surge in the [...]
PMI: Recovery of UK services sector regaining momentum February 3, 2022 The recovery of the UK services sector regained momentum last month, according to new figures. The closely watched IHS Markit/CIPS UK Services PMI survey scored 54.1 in January, bouncing back from a 10-month low of 53.6 in December. Any score above 50 shows growth in the sector. The latest data showed that activity in the [...]
Forced sale for £1: Govt attempt to unwind £8bn privatisation deal by forcibly buying back 57,400 properties is turning ugly February 3, 2022 The Ministry of Defence has been given “two weeks” to avoid legal action by Annington Homes as the government seeks to unwind one of the Government’s biggest ever privatisation deals. Annington, a portfolio of 57,400 military properties, valued at more than £8bn this year, was sold off by the MoD in 1996 in a move [...]
Londoners spend up to 72 per cent of their entire income on simply getting by in the capital February 2, 2022 London renters are forking out up to 72 per cent of their monthly household income simply to get by in the capital’s rental market. Nationwide, that figure is even higher, up to 77 per cent. The average UK rental household pays £808 per month in rent, accounting for 26 per cent of total monthly household [...]
London plumber crushes Pimlico Plumbers in Supreme Court and wins landmark case over holiday pay February 2, 2022 A London plumber has won a key lawsuit in the Supreme Court over his workers’ rights as appeal judges ruled late yesterday afternoon he is entitled to back-dated holiday pay. Gary Smith, who had worked for Pimlico Plumbers between 2005 and 2011, went to court after a long-running dispute with the company over holiday pay. [...]
Dow Jones makes push into ESG as it launches sustainability data set for asset managers February 2, 2022 Dow Jones said this morning it has launched a sustainability data index to help the global financial community understand the performance and impact of a company’s Environmental, Social and Governance (ESG) practices. The initial offering is available for asset managers to make sustainable investment decisions and to better engage the growing audience of purpose-driven investors, [...]
Not so easy yet: Budget airlines far from recovered as number of passengers keeps on dropping February 2, 2022 Two of London’s main budget airlines showed that they have far from recovered from the Covid-19 pandemic, as the number of passengers they carried dropped in January. Even when compared to Omicron-hit December, the airlines said that they had lost 2.7m passengers between them. Ryanair was the worst hit in January when compared to the [...]
Govt urged to hike Companies House charges by 700 per cent to crack down on shell firms and fraud February 2, 2022 A group of influential MPs is urging the government to do more to prioritise economic crime and explain why legislation is being delayed. MPs also called for an overhaul of Companies House and to increase the cost to register a business by around 700 per cent, from £12 or £13 currently to £100, in an [...]
Exclusive: Barclays warns business owners’ mental health is in decline after getting into debt February 2, 2022 Barclays is launching 600 new so-called ‘business health masterclasses’ as the bank noticed that the mental health of thousands of business owners across the UK has taken a hit since they the have taken on debt, the bank’s head of business banking told City A.M. this morning. Hannah Bernard said that her team had found [...]
