Hiking state pension age to 70 is unavoidable, warns top think tank January 18, 2022 Hiking the state pension age to 70 is unavoidable over the coming years, a top think tank warned today. The UK public finances are likely to buckle under the weight of the strain placed on them from having to fund Brits’ retirement packages, according to the International Longevity Centre (ILC). The cost of funding the [...]
EU regulators dish out record €1.1bn in fines for GDPR breaches in 2021 January 18, 2022 The total value of fines dished out by EU authorities for breaches of GDPR has risen to record highs of almost €1.1bn (£0.9bn), after jumping sevenfold between 2020 and 2021. EU authorities dished out a record €1.087bn worth of fines last year – a sevenfold increase on the € 158.5m worth of fines handed out [...]
British businesses miss out on productivity gains by shunning trade January 18, 2022 British firms are missing out on productivity gains by shunning overseas trade, according to one of the UK’s leading business bodies. Just one in 10 British businesses are involved in overseas trade, reveals a fresh study published by the British Chambers of Commerce (BCC) yesterday. Firms that are involved in exporting and importing goods and [...]
UK advertising watchdog escalates sanctions against social media influencers January 18, 2022 The UK Advertising Standards Agency (ASA) is escalating sanctions against social media influencers who fail to disclose which posts are ads.
Wayve secures $200m to drive autonomous vehicle tech January 18, 2022 Autonomous vehicle tech firm Wayve has announced a $200m funding injection as it looks to ramp up development of its new AI technology. The King’s Cross-based firm has secured investment from long-term backer Eclipse Ventures, which led the round, with additional backing from firms including D1 Capital Partners and Baillie Gifford and additional support from [...]
SpaceX’s mega-rocket Starship could make or break space industry, say experts January 18, 2022 The rise of mega-rockets, such as SpaceX’s Starship, could make or break the ‘New Space’ industry, according to experts. Countries including South Korea, Japan, India and UAE are planning to launch their first missions the Moon, which will require the use of so-called mega-rockets. “Public enthusiasm for space will remain high with the launch of [...]
Corporate standards might be well noted down the road in Whitehall January 17, 2022 A mischief-making tweeter last week asked whether a CEO caught in breach of lockdown restrictions would be given the same second chance that Boris Johnson seemingly has been given by his party. The answer came yesterday – when Antonio Horta-Osorio stepped down as Chair of Credit Suisse after two ill-advised quarantine breakouts. Whatever the ins [...]
Inflation to near 30-year high as Brits prepare to tighten their belts January 17, 2022 The cost of living in Britain will swell to its highest level in nearly three decades, some of the City’s leading economists warned today. Soaring energy bills, compounded by a sharp rise in the price of second-hand cars and petrol costs, will drive inflation to 5.3 per cent, according to Sanjay Raja, Deutsche Bank’s senior [...]
Finance chief at City ad agency M&C Saatchi eyed by PE-backed rival January 17, 2022 The finance chief of one of the City’s top advertising firms, M&C Saatchi, is reportedly set to jump ship to a private equity-backed rival. Mickey Kalifa, who has been with M&C Saatchi for nearly three years, has been sounded out for a top job at Dept, a digital agency based in Amsterdam. The news was [...]
FTSE 100 breaks another post-lockdown record by breaching 7,600 mark January 17, 2022 London’s premier index smashed another post-lockdown record yesterday in a sign investors are looking through the Covid-19 crisis. The FTSE 100 closed 0.91 per cent higher yesterday, breaching the 7,600 mark for the first time since January 2020. Sentiment was boosted by international investors waking up to the fact that large swathes of companies listed [...]
