British banks in Hong Kong have traded away their principles September 30, 2021 Hong Kong has been a crucial economic gateway between East and West for decades. As one of the biggest markets in the world, the city has punched well above its weight on the international business stage. With recent political and social upheaval and repression, however, that reputation is changing. Despite a shift in the global [...]
Londoners most vulnerable to long-term job shocks after furlough ends September 30, 2021 Londoners are the most vulnerable to suffering long term career damage after the furlough scheme ends today. Research by the Institute for Fiscal Studies (IFS) found just over two in five Londoners who were made redundant during the pandemic had found new work within six months, compared to 58 per cent in the UK. Depressed [...]
COP26: Standardising climate reporting could slash pension scheme cash burden September 30, 2021 Standardising climate-related reporting could “considerably” slash the cash burden for pension schemes, the Work and Pensions Committee has said. Calling on the UK to up its leadership on fossil fuel-investing pension funds ahead of COP26, the Committee has urged the Government to encourage other countries to make their local pension schemes disclose their climate-related financial [...]
Cost of greening UK homes to reach £42bn with poorest hardest hit September 30, 2021 The cost of making the UK’s stock of housing greener will run into the billions, with most of the financial burden being shouldered by the poorest households. It will cost around £42.5bn over the next decade to green British homes, according to the economic think tank the Resolution Foundation. Poorer households are the most likely [...]
Scrap post-Brexit visa rules to attract top brass to City September 30, 2021 The City is grappling with barriers to attracting the globe’s top financial talent as a result of overly-burdensome post-Brexit immigration rules. So says the City’s chief lobby group, The CityUK, which has today called on the government to waive visas for highly skilled workers entering the UK to do short term work in the financial [...]
All aboard: Searches for homes near London stations soar – CityAM : CityAM September 30, 2021 The rush back to the office has inspired a jump in searches for homes close to London stations that give them a quick commute into the City. House hunters were keen to have speedy access to Central London, as the momentum behind the office return ramped up, according to data from RightMove, shared with CityAM. [...]
BDO: Hybrid working could bring a needed boost social mobility September 30, 2021 Hybrid working could boost social mobility in the UK, according to new research, as young people from disadvantaged backgrounds favour the pandemic-era model more than those who are wealthier. Over a third of those surveyed from lower-socioeconomic environments think hybrid working can give them a better work-life balance, 10 per cent more than 16 to [...]
Who’s next? Retail boss Simon Wolfson urges Government to learn lessons of truck driver shortage September 29, 2021 Next boss Lord Wolfson has urged ministers to relax immigration rules to alleviate a crisis in “warehouses, restaurants, hotels, care homes and many seasonal industries.” The retail titan said that the current shortage of truck drivers was “foreseen, and widely predicted” and said Government needed to learn from its failure to act. The firm upgraded [...]
Global regulation needed for crypto to reach its full potential – Lord Holmes September 29, 2021 Representatives from the UK’s House of Lords, Binance and top lawyers are divided over the direction of crypto regulation. At City A.M.’s crypto summit today Lord Holmes, who founded the first parliamentary group on FinTech in 2016, called on governments worldwide to collaborate on regulation. He warned that global agreement on crypto trading rules is [...]
Labour: Triggering article 16 of Northern Ireland Protocol would be ‘tragic’ September 29, 2021 It would be “tragic” if the government triggers article 16 of the post-Brexit Northern Ireland Protocol and suspends the treaty, according to Emily Thornberry. The shadow international trade secretary today said the government needed to dial down its constant threats to rip up the protocol as UK-EU negotiations over its implementation continue. Negotiations between the [...]
