4.5x borrower’s earnings: ‘Risky mortgages’ rising fast, mostly in Wandsworth, Walthamstow and Croydon October 18, 2021 South London is the UK’s hotspot for high-risk mortgages – with more than 6,300 mortgages written at 4.5 times the borrower’s earnings or higher in the last year, according to new research shared with City A.M. this morning. Bank of England guidance says mortgages are considered ‘high-risk’ if they are lent at 4.5 times the [...]
‘Crying Room’ in Spain breaks mental health taboo October 18, 2021 “Enter and cry,” one sign tells visitors. “I too have anxiety,” glows another notice in pink. There are phones in one corner with the names of people you can call when you are feeling down, including a psychologist. Watch the full report.
THG founder Matthew Moulding to give up ‘golden share’ after £2bn mystery share plunge October 18, 2021 Online retail giant THG confirmed this morning that its founder, Matthew Moulding, has agreed to give up his “golden share” after the company’s shares plunged amid fierce scrutiny over its corporate governance. The “golden share” structure has been criticised by institutional investors who believe it can give founders too much control. THG’s structure has also [...]
Crypto criticism swells as thousands protest in El Salvador against Bitcoin policies October 18, 2021 Thousands of people in El Salvador’s capital took to the streets last night UK time to protest against President Nayib Bukele, over the Central American country’s adoption of bitcoin as legal tender and the firing of Supreme Court judges. Watch the full report.
Travel Special: Pandemic leaves islanders on isolated Mauritius ‘fighting to work’ October 18, 2021 Tourism industry workers in Mauritius have urged UK holidaymakers to return to the island after being left “fighting” for jobs due to the worldwide pandemic. The Indian Ocean island allowed travellers to return on October 1, with many islanders describing the tourism industry as “essential” for them to survive. The country still enforces the wearing [...]
NatWest chief warns supply chain crisis curtails growth among army of small firms October 18, 2021 NatWest’s business banking boss has said the supply chain crisis is holding back growth among Britain’s army of small firms and warned over mounting problems if shortages persist. Andrew Harrison said poor availability of key goods and materials was “curtailing” growth in the sector, which comes at a vital time for small firms as they [...]
Chemical giant Ineos pumps nearly £1.7bn in green hydrogen production October 18, 2021 In what will be Europe’s largest ever investment in electrolysis projects to make green hydrogen with the potential to “transform” zero carbon hydrogen production, chemical giant Ineos is to invest around £1.69bn in green hydrogen production. The first plants will be built in Norway, Germany and Belgium in the next 10 years with investment also [...]
20th PGA title: Northern Ireland’s Rory McIlroy wins CJ Cup in Las Vegas October 18, 2021 Northern Ireland’s Rory McIlroy has won the CJ Cup in Las Vegas, shooting a last round of six-under 66 to win by a stroke from American Collin Morikawa. Starting the day two shots off the pace, McIlroy showed a cool head throughout to end on 25-under par and join the select club of golfers to [...]
Virgin Media O2 takes on BT as £31bn merged entity rolls out first joint product October 18, 2021 Customers of both Virgin Media and O2 can expect their pay monthly mobile data allowance to be doubled, while broadband speeds will be upgraded to the next available tier, free of charge, the company said this morning. It is Virgin Media O2’s first joint product since the two company’s £31bn merger earlier this year to [...]
Move on from Brexit and stop seeing business as ‘enemy within’, govt is told October 18, 2021 The Government should move on from Brexit, and end the “blame game” with business over the current challenges facing the country, a leading industry group has said. Manufacturing organisation Make UK said ministers should step up working in partnership with business to address the many issues facing industry. The group said there was a feeling [...]
