‘Ignore hype and look at risk’, FCA says as it targets young, inexperienced investors October 20, 2021 Three-quarters of younger investors who invest in high-risk products such as cryptocurrencies say they are driven by competition with friends, family, acquaintances and their own past investments. More than two-thirds (68 per cent) likened placing their money in an investment to gambling. The findings were released by the Financial Conduct Authority (FCA), which has launched [...]
Home away from home offices: Employees ears are not burning, but the 2-ply toilet roll might be October 19, 2021 Boris Johnson’s recent announcement that “you have got to be able to come in [to the office] … and know what everybody is talking about … otherwise you are going to be gossiped about and you are going to lose out”, has caused a mixed outpouring of bemusement, derision and mirth. “How can anyone [...]
Dividend powerhouse: Growth in Asia fastest in the world despite HSBC’s £6.1bn drop October 19, 2021 Looking at income, dividend growth in Asia Pacific has been significantly faster than the global average, up 139 per cent over the last ten years, compared to 109 per cent for the rest of the world. Dividend growth in South Korea has been surpassed only by Russia over that period. And this has continued during the pandemic, which has [...]
Confidence in London’s financial pulling power remains high among wealthy Brits October 19, 2021 High-net-worth-individuals (HNWIs) in the UK have a positive outlook for the prospects of the economy with most singling out London as the driver behind UK Plc, according to new data shared with City A.M. this morning. Confidence in London’s financial pulling power remains, with 68 per cent saying that London will continue to be Europe’s [...]
Exclusive: Defaults on CBILS and BBLS Covid loans expected to run as high as £22bn October 19, 2021 Defaults on CBILS and BBLS loans could run as high as £22bn if initial estimates from the Office for Budget Responsibility (OBR) are correct, according to new calculations, shared with City A.M. today. £22bn of defaults would represent around 30 per cent of the roughly £74bn lent under the BBLS and CBILS schemes. “We may [...]
McBride warns for first-half loss as cleaning giant battles soaring prices October 19, 2021 Household cleaning products firm McBride has warned it expects to sink to a first-half loss as it battles to offset soaring prices due to the supply chain crisis. The group, which is behind many supermarkets’ own-brand cleaning products, said raw material and packaging prices have ramped up faster than expected, while freight and distribution costs [...]
Aggressive valuations: London home sellers overprice their properties by 40 per cent October 19, 2021 Home sellers across London are overpricing by as much as 40 per cent when it comes to the price at which they list their homes on the country’s major portals, versus the reality of what buyers will pay, according to new data shared with City A.M. this morning. The figures show that across Britain, the [...]
Post-pandemic stress: UK high net worth individuals increasingly anxious about their own wealth October 19, 2021 High-net-worth-individuals (HNWIs) are increasingly less confident when it comes to their own money, with almost two-thirds saying they feel ‘anxious’ about their wealth, according to new data shared with City A.M. this morning. Younger people much more likely to feel anxious than older generations, according to the Saltus Wealth Index, which surveyed surveyed attitudes of [...]
Bellway’s profits double despite supply chain woes slowing construction activities October 19, 2021 Housebuilder Bellway said this morning that its annual profits more than doubled, but cautioned that supply chain woes are holding back construction activity. The group posted a 102.4 per cent jump in pre-tax profits to £479m for the year to July 31 as revenues leaped 40.3 per cent to £3.12bn thanks to a booming property [...]
Asda to hire 15,000 workers as first Christmas delivery slots become available today October 19, 2021 Asda said this morning it is seeking to recruit 15,000 workers to help the supermarket giant with the busy Christmas period. It will be hiring the temporary workers for a raft of roles including in its stores, depots and home delivery service. About 500 roles will be based in depots, 1,500 in home delivery roles, [...]
