Labour squeeze to fuel inflation and clamp down on economy November 9, 2021 The ongoing labour squeeze plaguing the UK economy will trigger a surge in prices. That’s the warning from one of the Bank of England’s rate setters, who warned today that stronger inflation is the inevitable outcome of severe supply and demand imbalances. Responding to a grilling by MPs, Ben Broadbent, a deputy governor at the [...]
City watchdogs ordered to go for growth by government November 9, 2021 The government will task financial regulators with boosting the City’s competitiveness as part of a push to secure the UK’s status as a leading financial hub. In a sweeping set of reforms launched yesterday designed to overhaul the regulatory regime shaping the City, the government said regulators would be given a further objective to “facilitate [...]
The virtual metaverse requires very real-world regulation November 9, 2021 Regulators tend only to emerge in the spotlight of public scrutiny when something goes wrong. FCA bosses have spent the last couple of years being wheeled in front of Select Committees to explain the collossal cock-ups that led to the London Capital & Finance minibond scandal – including its former boss Andrew Bailey, who despite [...]
COP 26: Six in ten people support ban on finance firms making profits from fossil fuels November 9, 2021 A majority of people in the UK believe finance firms should be prevented from profiting from fossil fuel extraction, according to a new survey from Opinium. The poll shows that six in ten British people oppose banks, insurers and other finance firms making a profit from the digging up of coal, oil and gas. Opinium [...]
Rolls-Royce gets £195m funding for reactor plan November 9, 2021 Rolls-Royce’s share price rocketed by as much as five per cent on Tuesday after the engineering company secured £195m in private funding for a small-scale nuclear reactor project in the UK. Shares in the jet engine maker closed up 3.6 per cent at 146p by close of play, also buoyed by the return of leisure [...]
Shepherd Neame reports strong recovery as pandemic restrictions end November 9, 2021 Shepherd Neame is brewing a comeback as demand recovers following the end of pandemic restrictions. Its full-year results reveal consumer appetite has been robust in a recovering market, with retail pubs achieving 62 per cent of 2019 sales between 12 April and 16 May when pubs re-opened outside, and 97 per cent of previous sales [...]
Watches of Switzerland raises guidance after strong UK performance November 9, 2021 Watches of Switzerland Group has raised its guidance for the full year following improved revenues, increasing product demand and robust UK performance. The company is now expecting revenues of £1.15-£1.20bn for the full-year, an upgrade on previous estimates of £1.05-£1.10bn. The watch vendors told investors on that group revenues rose by 44.6 per cent to [...]
Exclusive: Ripple launches liquidity service for top crypto assets November 9, 2021 Ripple has announced plans to launch a Liquidity Hub which will give its clients access to leading cryptocurrencies at competitive rates. The San Francisco-based company’s new Liquidity Hub will act as an aggregator to compare the cost of currencies across different sources, including exchanges, over the counter and market makers, to ensure investors get the [...]
EY partner keeps job after lewd comments to trainee November 9, 2021 An EY partner has escaped being stricken off, after telling a female trainee “I’ll be bashing you from behind this afternoon,” on a company skiing trip, according to reports. Neil Hutt was found to have behaved in an “obscene and aggressive” manner, by a disciplinary hearing into the 51-year-old’s behaviour at an annual company trip [...]
Lottery scammers impersonate Simmons & Simmons staff November 9, 2021 Fraudsters have used the name of Simmons & Simmons in a hoax to convince victims they have won the lottery, in the latest scam using City law firms. The scam phone calls from people purporting to be at Simmons & Simmons prompted the Solicitors Regulation Authority (SRA) to issue an alert last week warning members of [...]
