Berkeley profits dip as housebuilding hey-day slips away December 9, 2022 Berkeley, one of the biggest housebuilders in the country, has been hit hard by the housing market dip and scaling inflation, as its pre-tax profit sinks. It is the latest sign the hey-day for housebuilders is over, with rising mortgage rates combined with inflation squashing demand for house buying in recent months – as well [...]
Explainer-in-brief: Britain’s baby challenge December 9, 2022 The UK is seeing out the perils of an ageing society already. We have a social care system stripped down, which, in turn, is preventing the NHS from functioning as elderly patients stay in hospital beds because of lack of adequate care elsewhere. And Britain is only set to get older with the average age [...]
Twinings owner Associated British Foods boosted amid cost of living crunch December 9, 2022 Primark owner Associated British Foods (ABF) has said its food business will fair better this year than the last, as it faces the UK’s economic downturn with low-cost offerings. At its annual general meeting today, chairman, Michael McLintock is expected to keep the group’s full year outlook unchanged, as many businesses in the country nudge [...]
Santander slapped with £108m fine by FCA for anti-money laundering failures December 9, 2022 Santander has been fined more than £107m by the Financial Conduct Authority for anti-money laundering failures. The banking giant will have to pay £107,793,300 to the watchdog after it was found to have “serious and persistent gaps” stopping the scourge. FCA found that between 31 December 2012 and 18 October 2017, it didn’t properly oversee [...]
Google appoints former Unilever top brass as MD for the UK and Ireland December 9, 2022 Google has appointed the former top brass at Unilever as its new managing director for the UK and Ireland. American tech leader and entrepreneur Debbie Weinstein will look after the technology giant’s business in Britain from March 2023, saying it feels like “coming home”. Weinstein will take over from Ronan Harris, who joined the company [...]
City Moves: Who’s switching jobs in the Square Mile? December 9, 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. WilmerHale Law firm WilmerHale has built out its London-based white-collar defence and investigations practice with a new partner. Richard Burger, a former enforcement lawyer and prosecutor at the Financial Conduct Authority’s predecessor the FSA, brings experience co-heading [...]
A new coal mine in Cumbria won’t save the burning problems for the UK December 9, 2022 After years of political ping-ponging, the decision has been made: we’ll have the first new coal mine in thirty years in the UK. It will be located in Whitehaven, in Cumbria, and it’s meant to bring 500 direct jobs to an impoverished area that has often felt forgotten by central government. The indirect jobs in [...]
Inheritance tax shows just how antiquated our system is and how much we’re losing December 9, 2022 Ultimately, the UK tax system remains rooted in 19th century principles. It requires modernisation as well as simplification. But it’s not a priority for government,
Britain’s social infrastructure is depleted and we need a blueprint for local success December 9, 2022 When Theresa May appointed me as her Minister for Civil Society, I was struck by an enormous sense of purpose. After all, she was the Prime Minister who had entered office promising to tackle the “burning injustices” that are a sad fact of life for so many in the UK – and my role was [...]
Letters: Still clinging on to Bitcoin December 9, 2022 [Re: Bitcoin ‘on the road to irrelevance’, says ECB, November 30] Recent comments by the ECB and other banking stakeholders show that many central banks along with the regulators are missing the key point: Bitcoin is already being used to pay for goods while they are still debating whether crypto is an asset class or [...]
