Labour turns spotlight on Covid deals between government and Tory donors November 15, 2020 The Shadow Leader of the House of Commons, Valerie Vaz, has said a public inquiry is needed following the publication of a ‘map’ of deals between the UK government, multiple Conservative Party donors, several Tory MPs and some of their family members. Vaz, Labour MP for Walsall South, calls for an investigation into claims made [...]
2.5m UK households face rent worries as 350,000 are at risk of eviction November 15, 2020 Around 2.5m households across Britain will struggle to pay their rent this winter, while 350,000 are at risk of being evicted. According to the Joseph Rowntree Foundation, around 1.3m households in the private sector and roughly 1.2m households in the social sector are worried about paying their rent in the next three months. This includes [...]
Brands’ battle for the eyeballs: watch all the Christmas ads here November 13, 2020 As some of the UK’s biggest brands have rolled out their seasonal ads, it’s starting to feel a lot more festive. The battle for the eyeballs started in earnest this morning as John Lewis launched its annual television advertisement, gaining over one million views within just two hours. However, Aldi’s ad so far tops the [...]
Aligning CGT with income tax would be a mistake, warns Andersen’s tax head November 12, 2020 The government’s tax advisory body published yesterday a highly anticipated report into capital gains tax, concluding that the current rules are ‘counter-intuitive’ and create ‘odd incentives’ in several areas. Instead, Rishi Sunak should increase capital gains tax rates in order to reel in an extra £14bn, according to the Office for Tax Simplification, as it [...]
Vaccine news puts growth back into The City: Moneyfarm’s investment chief November 12, 2020 This week’s news that pharmaceutical giant Pfizer and German manufacturer BioNTech had reached a breakthrough in the development of their Coronavirus vaccine led to one of the heaviest trading days since the height of the pandemic crisis, with nearly $2 trillion changing hands across global markets. Firms across The City are in an upbeat mood as the announcement that [...]
How does a vaccine affect investment sentiment in the Square Mile? November 11, 2020 Pharmaceutical giant Pfizer and German manufacturer BioNTech said on Monday they had reached a breakthrough in the development of their Coronavirus vaccine. Analysis so far suggests that the vaccine is more than 90 per cent effective in preventing Covid-19. Although studies are ongoing, the vaccine has already been tested on 43,500 people in six countries, with no major safety concerns being raised so far. Despite Boris [...]
Appetite for hard-to-access capital is driving City investors to private equity November 11, 2020 With governments introducing unparalleled fiscal stimulus to support the economic recovery from ongoing pandemic, and monetary policy signalling a much lower-for-longer interest rate environment than anticipated, investors are increasingly turning to private equity as they look for yield. The investment space has been an uptick in interest from City investors as businesses are thirsty for [...]
City is in denial about post-Brexit trading: MHA MacIntyre Hudson November 10, 2020 With less than two months until the Brexit deadline, Alison Horner, indirect tax partner at MHA MacIntyre Hudson, believes trading with Europe after Brexit, deal or no deal, will be more challenging than many businesses are currently realise or even willing to admit. “Due to Covid-19 the majority of British companies involved in exporting to [...]
UK government to NHS: be ready for (optional) vaccine from next month November 10, 2020 The UK government has asked the NHS to be ready to deploy any Covid-19 vaccine from early next month. Once it starts rolling out the medication, the most vulnerable will be first in line, health secretary Matt Hancock said this morning. “I have asked [the NHS] to be ready from the start of December,” Hancock [...]
European stocks set for a post Pfizer hangover November 10, 2020 The week started yesterday with an euphoric stock market reaction to the news that Pfizer and Germany-based BioNTech had seen a 90% success rate in a vaccine study. The new record highs for the Dow, S&P 500 and Russell 2000 point to a greater sense of optimism than at any other time this year, Michael [...]