Lockdowns will cost Australia’s economy £530m per week, say UBS economists August 10, 2021 Australia’s “zero Covid” approach will cost AU$1bn (£530m) per week to the country’s economy, as its three most populous states are currently in lockdown due to a surge in the delta variant. Economists at the UBS bank have said the cumulative economic cost of the current lockdown in New South Wales will be of AU$25bn [...]
Sen Richard Shelby, 87, puts screws on US Crypto yet the market is green as he just united the whole industry to fight! August 10, 2021 Greetings from Mallorca where I’m trying to holiday whilst I contemplate my advancing years – soon to be scoring my half century. Meanwhile ageism is alive and well in the US as millennials scream at the top of their lungs that the boomers and their parents are screwing Crypto. Seriously though they might have a [...]
Londoners pay highest average inheritance tax bill in UK at over £270k August 10, 2021 Londoners pay on average the highest inheritance tax bill in the UK, according to latest official government figures. Data from HMRC shows residents in the capital paid an average of £271,820 in inheritance tax on their estates in 2018/19 upon death. Meanwhile, UK residents paid an average of £209,502 in inheritance tax in the same [...]
PCR test problems: Complaints soar as drop boxes overflow August 10, 2021 Covid PCR supplier Randox is to resolve issues with its test sample drop-off boxes as photos emerge of them overflowing and long result wait times are reported. The move comes as people posted photos online of full drop boxes in Sutton and Hampstead on the weekend. The swarms of samples are expected to increase as [...]
Crackdown fears: Tencent-backed videogame maker sees shares drop 20 per cent in debut August 10, 2021 Videogame maker Krafton has watched its highly anticipated initial public offering collapse 20 per cent in its debut, as it was rocked by fears of a gaming crackdown across the pond. After securing a $3.8bn initial public offering (IPO), South Korea’s largest in over a decade, Tencent-backed Krafton became the first stock debut to fall [...]
FCA explores new rules to block UK high street bank closures August 10, 2021 The Financial Conduct Authority is reportedly looking into new rules that would give it the power to stop banks from closing high street branches, in a bid to ensure consumers have continued access to cash. In a consultation last month, the Treasury said it was considering new legislation that would give the UK’s financial regulator [...]
FCA fines ‘seriously incompetent’ pension adviser £1.3m over steel scandal August 10, 2021 The UK’s financial regulator has issued a £1.3m fine to a pensions adviser it described as “seriously incompetent” for his work advising members of the British Steel Pension Scheme. Geoffrey Armin, who worked for Retirement and Pension Planning Services Limited (RPPS), advised a 422 customers including 183 BSPS steelworkers. In total, he advised on £125m [...]
Hargreaves Lansdown shares pare back losses after tanking over 10 per cent yesterday August 10, 2021 Hargreaves Lansdown shares pared back sharp losses in early trading today after tanking over 10 per cent yesterday as investors piled out of shares in the financial services firm after its costs soared due to a sharp rise in retail trading volumes driven by the “meme stocks” trend. Hargreaves reported a three per cent drop [...]
Marlowe ditches its ‘unsolicited’ takeover bid of Restore August 10, 2021 Business services company Marlowe has today announced that it has withdrawn its takeover bid for fellow data services firm Restore after the companies could not come to an agreement. The board of Marlowe said it still believed that the deal would have been “strategically compelling,” but that the “offer price that would be required to secure [...]
M&G investment shares slip after reporting loss August 10, 2021 Investment manager M&G saw shares fall after today reporting a loss after tax of £248m for the first half of the year. Before tax the company saw a six per cent improvement in its profits for the half-year, at £327m, but the FTSE 100 company swung to a loss after tax of £248m for the six [...]
