FTSE airline stocks slump over UK’s Spain travel quarantine July 27, 2020 Airline stocks slumped on the FTSE 100 today in the aftermath of Britain’s move to reimpose a travel quarantine on Spain. The government scrapped a travel corridor between the UK and Spain over the weekend, after the country recorded 900 new Covid-19 cases for two days running last week. Airlines blasted the government’s decision, which [...]
City Pub Group toasts return to profitability after reopening July 27, 2020 City Pub Group this morning toasted a return to profitability since reopening after the coronavirus lockdown. The pub chain, which has so far reopened 32 of its 48 pubs, said total sales for the three weeks since reopening on 4 July were £1.8m. On a like-for-like basis sales have reached 63 per cent of pre-pandemic [...]
Kainos announces special dividend after strong trading period July 27, 2020 IT provider Kainos has declared a special dividend after a resilient year of trading in the face of the coronavirus pandemic. The group said annual profit and revenue will be ahead of expectations as trading has been strong despite the impact of Covid-19. The figures Kainos said revenue for the year to the end of [...]
Lib Dem candidate Siobhan Benita quits race to become London mayor July 27, 2020 Siobhan Benita, the Liberal Democrats’ candidate for next year’s London mayor election, has stepped down after coronavirus delayed the vote until May 2021. Benita announced her decision today, saying the unpaid role was “very difficult to combine with other work”. Originally Londoners were set to vote on a new mayor in May 2020. However, the [...]
The City View: Emily Nicolle on London’s fintech scene July 27, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Today Andy Silvester is joined by City A.M.‘s very own Emily Nicolle, our Night and Tech Editor. Emily talks about exclusive new data on the state of Britain’s fintech finances, Apple’s ongoing battles with the European Commission and big tech’s recent troubles. Andy also looks at the government’s removal [...]
Want a recovery that works for everyone? Fix the injustices in the tax system July 27, 2020 The lockdown shone a spotlight onto a two-speed, two-nation Britain, where better-paid white-collar professionals worked from home, while less well-off key workers had to keep travelling to work, often on crowded public transport, to do riskier jobs. Even worse, it turned out that those less well-off key workers were paying much higher tax rates than [...]
A grown-up Japan marshals the world’s anti-China coalition July 27, 2020 Intellectual coherence has its advantages. While much of the western world has recently taken a holiday from history — as the US is weighed down by the melodrama of Donald Trump, the EU by the sleep-deprivation soap operas of its summit meetings, and the UK by profound confusions about how to respond to coronavirus — [...]
British fintech investment slows as venture backers remain cautious July 27, 2020 Investment in the UK’s top-performing fintech sector slowed by more than a third in the first half of 2020, as investors held onto their cash during the pandemic. However funding levels still gained 22 per cent on the second half of 2019, as UK venture capital investment in fintech reached $1.84bn across 167 deals in [...]
Sowing the seeds for the next stage of fintech success July 27, 2020 Fintech in the UK has grown at breakneck speed. In 2010 it accounted for just four per cent of venture capital investment in the UK. A decade later, this figure has risen to 28 per cent, with a record $4.9bn of capital investment landing in the UK in 2019 — a year-on-year increase of more [...]
Stamp duty cut makes UK buyers among Europe’s lowest taxpayers July 27, 2020 The government’s emergency stamp duty cut means buyers in the UK now pay among the lowest in tax in Europe, even on a prime property. British buyers are now paying just 1.93 per cent of a property’s value in tax compared to the European average of 4.53 per cent, a new study by accountancy network [...]
