Wall Street and FTSE 100 push higher on US inflation shift August 27, 2020 Wall Street opened higher and the FTSE 100 reversed losses this afternoon as investors digested the Jackson Hole central banking symposium, where US Federal Reserve chair Jay Powell spoke. Powell punchy update on the Fed’s monetary policy review buoyed investors and drove gains for US stocks. Read more: Jackson Hole symposium: All eyes on Fed [...]
The City View: Adrienne Gormley of Dropbox on why hybrid working requires more than just new tech August 27, 2020 In this episode Christian talks to Adrienne Gormley, head of EMEA at Dropbox, about the opportunities and potential pitfalls of remote working. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Adrienne says that getting it right requires more than just having the right digital tools and that a new approach to management and company culture is necessary. Also [...]
Car production slump continues despite signs of improvement August 27, 2020 The slump in UK car manufacturing continued in July, with just 85,000 vehicles rolling off production lines last month, over 20 per cent lower than a year ago. However, the Society of Motor Manufacturers and Traders (SMMT) said the figure showed a “marked improvement” on previous months as factories continued to reopen after lockdown. With [...]
UK house prices to ‘hold firm’ in 2020 despite Covid-19 crisis August 27, 2020 UK house prices are set to hold firm for the rest of the year despite the looming recession and rising unemployment sparked by the coronavirus crisis. Annual house price growth has been sustained at 2.5 per cent as demand continues to outstrip supply, despite fears that the pandemic would cause property values to plunge. According [...]
Half of UK finance workers want career change due to pandemic, survey says August 27, 2020 The coronavirus pandemic has caused workers in the UK finance industry to second-guess their career choice, with 44 per cent considering moving jobs, according to a new report. Among those City workers looking for a change, 13 per cent said they wanted to leave the sector altogether. That figure rose to 16 per cent for [...]
UK hospitality firms predict 41 per cent drop in summer sales August 27, 2020 UK hospitality firms are predicting a 41 per cent drop in sales over the summer months, although businesses are optimistic that trade will pick up this winter. According to the latest research, six per cent of hospitality and leisure sector companies are confident about growth this summer. However confidence surges in the winter months, with [...]
EU trade boss Phil Hogan resigns over ‘golfgate’ August 26, 2020 EU trade commissioner Phil Hogan has today resigned after breaching coronavirus restrictions by attending a golf dinner. “It was becoming increasingly clear that the controversy concerning my recent visit to Ireland was becoming a distraction from my work as an EU Commissioner and would undermine my work in the key months ahead”, Hogan said in [...]
Sir Jim Ratcliffe’s Ineos to build new 4×4 in France August 26, 2020 UK car manufacturing suffered another blow today after it emerged that Sir Jim Ratcliffe’s Ineos had made an official offer to buy a factory in France to build its new 4×4. The billionaire was understood to have been in talks with the Welsh government to build a new factory in Bridgend for the car, a [...]
Voting by pencil and paper is still the best way to keep elections secure and democracy safe August 26, 2020 Yesterday for City A.M., Christopher Flinos, co-founder of HAYVN, an online OTC and custody trading platform for cryptocurrencies, penned an article proposing that blockchain technology could be used to implement an electronic voting system for future UK elections. As the government minister responsible for our elections, I agree with anyone who advocates the importance of [...]
Donald Trump ready to take executive action to save airline jobs, says White House August 26, 2020 The White House today said that US President Donald Trump was preparing to act unilaterally to prevent a massive wave of job cuts at US airlines that have been ravaged by the coronavirus pandemic. According to chief of staff Mark Meadows, Trump is considering using an executive order to avoid the layoffs if Congress does [...]
