Ministers handing PPE contracts via ‘VIP lane’ ruled unlawful by High Court January 12, 2022 The government’s PPE ‘VIP lane’ for politically connected suppliers has been found to be unlawful by the High Court today. The so-called ‘VIP lane’ saw ministers handing Covid-19 contracts worth millions to suppliers connected to people they knew on a “flawed basis”, the Court added. The Court said: “There is evidence that opportunities were treated [...]
Hong Kong to draft own national security laws, Carrie Lam confirms January 12, 2022 Hong Kong has tabled plans to draw up its own national security laws, nearly two years after Beijing imposed the controversial set of laws on the city in the wake of mass protests. The city’s leader Carrie Lam confirmed that her government would draft “local legislation” that meets Article 23 of Hong Kong’s mini-constitution – [...]
Continued economic uncertainty sparks entrepreneurial spirit among millions January 12, 2022 Continued economic uncertainty has sparked the entrepreneurial spirit among more than three million employees, according to a new survey, as Brits plan to spend more with small businesses. More than three in four of those polled said that Covid-19 has pushed the pedal on their plans to start a new business. London has emerged as [...]
London beats Cornwall to be most desired location for buyers January 12, 2022 London was 2021’s most searched for destination by potential buyers, property site Rightmove has shared. The capital beat Cornwall, which had piqued buyers’ interests earlier in the year. However, a desire to escape to the countryside was clear in the difference in total number of searches between London and Cornwall. The difference was just three [...]
City Moves: Who’s switching jobs in the Square Mile this week? January 12, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Acorn Capital Partners Acorn Capital Partners has hired a new partner, who joins the all-female leadership team at the private wealth specialist. Moving from her own practice, Olga Kucherenko brings some 14 years’ experience to the position. [...]
Top Chinese economist suggests £230bn plan to boost shrinking population January 11, 2022 A top Chinese economist has advised the central bank to print around £230bn worth of extra cash a year over the next decade, in a bid to incentivise the population to have more children. The capital would be used to subsidise housing costs, as well as build more childcare facilities, chief economist at SooChow Securities [...]
Controversy after controversy: Sadiq Khan will ‘hold the Met to account’ January 11, 2022 London Mayor Sadiq Khan will “hold the Met to account” after confidence in the capital’s police force plummeted amid a slew of controversies. “The Mayor is determined to continue to hold the Met to account to deliver the changes needed to rebuild and increase the trust and confidence of all Londoners in their police service,” [...]
Government appoints Hitatchi CEO as National Nuclear Laboratory chair January 11, 2022 The government has appointed the boss of Hitatchi Energy as the new chair of the National Nuclear Laboratory (NNL). Ian Funnell will succeed current chair and boardroom veteran Sir Andrew Mathews in the top position. Business minister Kwasi Kwarteng said: “Ian is ideally suited to provide the leadership to build the NNL’s capabilities and deliver on [...]
Met Police sued over refusal to investigate Downing Street Christmas party allegations January 11, 2022 The Metropolitan Police has been sued by a legal charity over its failure to investigate Downing Street Christmas party allegations. The Good Law Project has issued formal legal proceedings against Britain’s largest police force after pleading with the Met to take action in December. The not-for-profit sent a letter to the Met before Christmas, asking [...]
City watchdog hikes fees for businesses applying for authorisation January 11, 2022 The Financial Conduct Authority (FCA) has imposed new fees on businesses applying for authorisation – after going unchanged for two decades. The City watchdog has increased 49 charges, while 23 remained the same and 11 were reduced. The extra costs will begin from January 24, but the amount a business pays when applying will depend [...]