Biden to warn US companies about risks of operating in Hong Kong July 13, 2021 The US government will this week warn companies of the increasing risks of doing business in Hong Kong as China imposes greater control on the financial hub according to reports. Biden is said to be concerned that US companies would face threats from the Chinese government to gain access to data that foreign companies store [...]
London in need of affordable housing to power recovery, say insurers July 13, 2021 London will struggle to rebuild from the pandemic unless more affordable housing is built, insurers Legal & General have warned today. The L&G Rebuilding Britain Index show housing is the poorest performing measure – behind jobs and economic prosperity – with affordable housing falling flat in London and the South East and West of England. Nigel [...]
Kier group ‘moderately ahead of expectations’ after attempts to slash debt July 13, 2021 Infrastructure services and construction group Kier, which worked on London’s HS2, has finished the year “moderately ahead of expectations”, it said today. The group has been on the receiving end of hefty government contracts, namely a £1bn prisons contract for the Ministry of Justice, for the year ending 30 June. Kier had also accepted a [...]
FCA threatens action against retail banks for poor financial crime controls July 13, 2021 The Financial Conduct Authority (FCA) has issued a warning to retail banks about their continuing weaknesses and failings surrounding financial crime controls in a letter published in full today. The letter, which was penned by David Geale, the Director of Retail Banking & Payments Supervision for the FCA, and sent to banking industry chiefs across [...]
British Land hails ‘notable improvement’ as restrictions ease July 13, 2021 British Land said that it had collected 99 per cent of the rent due for its offices in June as the FTSE 100 firm welcomed a “notable improvement in activity” across its markets. The property developer also said that in the seven weeks since the first lifting of restrictions, it had seen footfall and sales [...]
Retirement group Phoenix enters £197m pensions deal with Irish Life July 13, 2021 Retirement group Phoenix is set to sell Ark Life Assurance Company to pensions group Irish Life for around £197m, the retirement group today. Ark Life Assurance Company, known as Ark Life, added around £1.8bn of assets under administration to Phoenix’s heritage division as of 31 December. The deal, which is expected to be completed by [...]
UK tech on track for second record-breaking year of Asian investment July 13, 2021 The booming UK tech sector received almost twice the amount of Asian capital in the first six months of 2021 as it did during the whole of 2020, paving the way for a second record year of regional investment. By the end of June, Asian and Middle Eastern investors funnelled over £1.7bn into UK tech [...]
Met Police seize £180m of crypto in money laundering sting July 13, 2021 Detectives in London have smashed an international money laundering operation, seizing £180m in cryptocurrency.
Biblical rains pour on London, flooding areas and dampening summer hopes July 13, 2021 London was subject to rains of biblical proportions yesterday, which saw cars submerged and abandoned amid flash flooding, as July dampens summer plans for Londoners. The most severe flooding was spotted in parts of North and West London and has continued to cause travel chaos for Londoners. The Circle line was suspended this morning, while [...]
Banking shares jump after Bank of England gives OK for dividends, bonuses and buybacks July 13, 2021 Banking shares jump after Bank of England gives OK for dividends, bonuses and buybacks
