Royal Mail anticipates cost pressures while online shopping boom here to stay September 23, 2021 Royal Mail has warned of mounting cost pressures as it revealed growth in its parcels business has eased since Covid restrictions were removed. The group reported a nine per cent drop in parcel deliveries by volume across July and August, as parcel revenues fell 4.6 per cent to £773m. However, a trend towards online shopping [...]
Deloitte partners average pay close to £1m as Big Four profits surge September 23, 2021 Deloitte’s UK partners will pocket around £1m on average as the Big Four’s revenues have seen a revival driven by a demand for advice during the pandemic, according to the Financial Times, which first reported the news. The payout to 700 equity partners at Deloitte, who received an average of £731,000 from profit shares last [...]
Drax prepared to delay power plant closures September 23, 2021 Electricity company Drax could continue operating its power plants beyond their planned closure next year to aid energy supply. The firm – which runs a coal plant in North Yorkshire – has called generators back into action to help balance a grid experiencing tight supply. Prices of gas and electricity have hit record highs as [...]
City Moves: Who’s switching jobs in the Square Mile today? September 23, 2021 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. Savills adds two to Super Prime London team Savills has added two new hires to its Super Prime London Residential Development Sales team at its headquarters on Margaret Street, who both previously worked for the estate agency. [...]
Frustrated customers are leaving their banks over mishandled complaints September 23, 2021 Disgruntled customers are leaving their banks in droves after being let down by inadequate complaints handling processes. Complaints have been on the rise during the Covid-19 pandemic with 27 per cent of customers raising issues with their bank or the Ombudsman in the past 12 months. Data from software company Nuix found that over a [...]
The tale of Big Tech’s reckoning was spelled out by Rockefeller’s downfall September 23, 2021 The Austrian economist Joseph Schumpeter described an effective free market as a “gale of creative destruction”. Old companies and outdated ideas would be cast aside by the market’s pursuit of the new, and the consumer would be the winner. It is little surprise then that incumbents tend to do all they can to arrest the [...]
Housing take two: Is Michael Gove ready for the test? September 23, 2021 Earlier this month, Boris Johnson’s took a sledgehammer to his cabinet. In the reshuffle Michael Gove took up the gauntlet as Secretary of State for Housing, Communities and Local Government, after Robert Jenrick was sacked following a series of blunders. It’s a tough remit. Where we live is not just about square footage: it shapes who [...]
Editorial: The Special Relationship needs shared goals more than a trade deal September 23, 2021 So the prospect of an all-singing, all-dancing Broadway show of a trade deal with the United States has been . After three prime ministers, as many presidents and a whole lot of grandstanding, Boris Johnson has been forced to admit it was more an ambition than a geopolitical reality. During the Prime Minister’s time with [...]
Legalise it: e-scooters could help to reduce London car use, says study September 23, 2021 A London think tank is calling on the government to legalise e-scooters in a bid to make transport in the Capital greener. A report by the Centre for London wants e-scooters, which produce 34 per cent less carbon emissions than cars and far less air pollution, to be introduced alongside a raft of new legislation [...]
Cloudy outlook to prompt MPC to hold fire on rates and QE September 23, 2021 A slowing economic recovery from the Covid-19 crisis, sharp energy price rises and tax hikes squeezing Brits’ household incomes are likely to prompt the Bank of England’s committee of rate setters to err on the side of caution today. The Bank’s monetary policy committee (MPC) will announce its latest decision on rates and the fate [...]
