Exclusive: Half of all UK bosses plan to hire new tech staff this year January 31, 2022 Digital transformation is a key focus for UK businesses in the coming months. While costs have been a deterrent to innovation over the past year for many firms, the majority are looking to funnel investment into new technology projects in 2022. Nearly half of those polled admit that the cost of development has impeded their firm [...]
Boss gives entire company pay rise to cover hike in national insurance January 31, 2022 With confirmation that Boris Johnson will be raising National Insurance by 1.25 per cent this April, a digital marketing company told City A.M. this morning it will give its entire workforce a pay rise to cover the drop in income. The founder of 71a, Edward Newman, has promised every member of his team a pay rise [...]
‘Brexit has failed to deliver a single benefit while communities bear the brunt’, angry Scottish minister tells UK govt January 31, 2022 Scotland has not seen any benefits from Brexit, a minister has said ahead of a meeting with the UK Government. Scotland’s Rural Affairs Secretary Mairi Gougeon hit out at the UK leaving the EU two years on from the finalisation of a deal to leave the bloc. Ahead of a meeting of the inter-ministerial group [...]
Brexit: UK share of EU export and import trade tumbles further as cross-Channel trade declines January 31, 2022 The UK’s share of EU27 goods exports fell from 6.2 percent in 2019 to 5.2 percent last year, while its share of EU27 goods imports fell from 3.9 percent to 2.6 percent over the same period, according to new figures published in Germany today. The decline comes after Britain’s share of exports dropped from 7.1 [...]
Schools shut and thousands without power as back to back storms batter most of the UK January 31, 2022 A cold and blustery start to Monday follows a stormy weekend of devastating winds across the north of England and Scotland. Schools will be shut and thousands of people are without power after back to back storms battered parts of the UK. A nine-year-old boy in Staffordshire and a 60-year-old woman in Aberdeen died after [...]
BT investors to find out if Omicron absences hit broadband rollout and what Patrick Drahi’s plans are January 31, 2022 BT shareholders and investors will find out this week whether the company’s full fibre broadband rollout was negatively affected by the Omicron surge over the festive period. Several companies have reported major staff shortages during the latest wave and BT may be no different. In November, BT said it had reached six million homes and [...]
Upbeat investors are knocking on February’s door after end of month rebound January 31, 2022 After a wild and turbulent week, which saw European markets close lower for the third week in succession, and US markets hit seven-month lows, before closing the week higher, January has been a month which has proved to be hugely challenging to define a narrative for more than a day. While markets in Europe [...]
‘Tax-cutting Conservatives’ Boris Johnson and Rishi Sunak confirm tax rise is going ahead January 30, 2022 The Prime Minister and Chancellor have doubled down on a controversial planned tax hike to boost health funding, after it was reported that Boris Johnson was “wobbling” on the policy. The PM is under pressure from some Conservative MPs to scrap or at least delay the national insurance increase to win back support as he [...]
Weekend exclusive: Rich Afghans flee Kabul for London January 30, 2022 Afghanistan is the country with the fastest growing number of high net worth individuals relocating to the UK in the latest tax year. In 2019-20, 180 non-domiciled individuals from Afghanistan moved to the UK, according to new data shared exclusively with City A.M. this weekend. This is up 29 per cent from 140 High Net [...]
UK tech special: The rocky but unstoppable rise in startup valuations January 30, 2022 The accelerated growth of startup valuations has sparked debate around the world, particularly in the markets where this has been reflected in the most significant raises and the speediest unicorns. Despite ongoing pandemic uncertainty, a quarter of the UK’s 116 unicorn tech companies became unicorns during 2021. Investment climbed significantly, up to £26bn in 2021 [...]
