Half of all Brits need extra money to get by so millions are scrambling to find additional sources of income July 24, 2022 As the cost of living crisis continues, over 30m Brits have been forced to seek an additional source of income due to the pinch on their finances. Shockingly, this is a staggering 65 increase in just four months, since February this year, according to new research shared with City A.M. this morning. Younger people are [...]
Hybrid capital: London takes world’s number 1 spot as global hub for remote workers July 23, 2022 London is the top city in the world for global, remote workers, followed by Toronto and Buenos Aires. The UK is home to the most organisations hiring global, remote working in the EMEA region, followed by Germany and France, respectively. The first half of this year saw a 154 per cent increase in UK employers [...]
Cryptocurrency payments hold up despite harsh and merciless crypto winter July 21, 2022 Crypto payments have remained stable in the first half of this year, according to new research shared with City A.M. today. Compliance platform Deel said that cryptocurrency payment remained stable at 5 per cent of all global payments withdrawn monthly from the platform. In comparison, in the second half of last year 2 per cent [...]
CMA slaps Pfizer with record £63m fine for ‘illegally exploiting dominant position to overcharge NHS’ July 21, 2022 Drugmakers Pfizer, as well as Flynn, received a fine of close to £70m after they overcharged the NHS for a life-saving epilepsy drug, the UK competition watchdog has announced. The Competition and Markets Authority (CMA) said the two pharmaceutical giants “abused their dominant positions” in the market to charge unfairly high prices over a four-year [...]
Sigh of relief for Londoners as ALL long-running strikes on Night Tube suspended July 21, 2022 Long-running strikes on London’s Night Tube have been suspended. Members of the Rail, Maritime and Transport (RMT) union have been taking industrial action over weekends in a dispute over shifts. “We are pleased that after our strong industrial campaign, we have made significant progress on the Night Tube dispute,” said RMT’s general secretary Mick Lynch. [...]
Australian bidder walks away from £650m race to snap up rail giant Go-Ahead July 21, 2022 Australia-based Kelsian confirmed this morning it has pulled out from the race to buy Go-Ahead – weeks after the board picked a rival offer. The business said falling share prices in Australia tied its hands and forced the group to walk away from a potential tie-up. Kelsian is one of Australia’s biggest bus and ferry [...]
FCA and Andrew Bailey slammed for failing to protect pension savers who were ripped off by poor advisors July 21, 2022 The City watchdog and its former head Andrew Bailey, nowadays the Bank of England’s chief, have come under fire for letting down British Steel pension savers who were ripped off by poor advice from companies they thought they could trust. The Financial Conduct Authority (FCA) did not protect the members of the British Steel pension [...]
Liz Truss warns Rishi Sunak’s tax plans lead UK into recession as she is out to challenge ‘economic orthodoxy’ July 21, 2022 Tory leadership contender Liz Truss insisted this a.m. that her economic plan to cut taxes immediately is not a gamble and will not further fuel inflation. Truss warned that the current tax plans – which include an increase in corporation tax from 19 per cent to 25per cent in April – will lead the UK [...]
Probe launched into civil service leaks aimed at damaging Penny Mordaunt’s Tory leadership campaign July 20, 2022 Simon Case, the most senior civil servant in the country, confirmed this afternoon that an investigation has begun into allegations that material was leaked from within the civil service to supposedly damage the campaign of Tory leadership contender Penny Mordaunt. David Davis, one of Ms Mordaunt’s most prominent backers within the Conservative Party, wrote to [...]
Car dealership group Pendragon says supply constraints slow vehicle sales as profits dive July 20, 2022 Car dealership group Pendragon said this afternoon that “supply constraints” have impacted new vehicle volumes over the past six months as it said profits will dip year on year. The company said it expects to post a pre-tax profits of around £33m for the six months to the end of June, compared with £35.1m over [...]
