G4S loses permanent contract for ‘war zone’ Birmingham prison April 1, 2019 A G4S prison in Birmingham has been taken back under permanent government control after it was found in a state of crisis so acute the Ministry of Justice (MoJ) was forced to step in last summer. HMP Birmingham was seized from the contractor in August last year when the prisons watchdog found it was exceptionally [...]
UK retail sales see biggest contraction in 17 months, says CBI March 27, 2019 UK retail sales volumes fell sharply in March, seeing the fastest contraction in 17 months and marking a four-month run in which sales have not grown, a leading business group said today. Of the businesses surveyed by the Confederation of British Industry (CBI), 46 per cent said sales volumes were lower in March than a [...]
London climbs world’s most expensive cities ranking March 19, 2019 London has become a dearer place to live in the last year, causing it to climb eight places in the world’s most expensive city list, according to the latest worldwide cost of living survey. After dropping considerably last year the capital is now the world’s 22nd most expensive city to live in, far behind its [...]
Brexit vote live: MPs vote to delay Brexit by extending Article 50 beyond 29 March March 14, 2019 Hello and welcome to City A.M.’s Brexit live blog for the second of potentially three huge votes on the UK’s departure from the EU. Prime Minister Theresa May was defeated in the House of Commons in a second vote on her Brexit deal on Tuesday, losing by 391 votes to 242. Last night, MPs voted [...]
Spring Statement: Hammond warns against no deal as UK slashes 2019 growth forecast March 13, 2019 The UK chancellor Philip Hammond slashed the 2019 growth forecast in his Spring Statement and said future spending and economic wellbeing are dependent on an orderly Brexit. Hammond announced that the Office for Budget Responsibility (OBR) had cut the country’s 2019 growth forecast to 1.2 per cent, down from the 1.6 per cent predicted in [...]
Theresa May is a home secretary dressed up as Prime Minister March 8, 2019 The UK is facing a violent crime crisis. Fatal stabbings are at their highest since 1946, with 27 knife deaths so far in 2019. Police numbers in England and Wales are down more than 20,000 since 2010. Other crime-reducing initiatives, from youth outreach to social services, have also seen drastic funding cuts in that time. [...]
Ex-offenders deserve to work – here’s why you should recruit them February 26, 2019 With Brexit on the horizon, businesses face looming concerns about skills and talent shortages – something we at Lendlease, like many others, are planning for. The national employment level is at an all-time peak with more than 32m in work, but our labour market is only tightening and getting more competitive. Within construction, our current [...]
Banks begin tempting businesses away from RBS as £350m switching scheme goes live February 25, 2019 Banks have begun tempting businesses to switch away from Royal Bank of Scotland as part of a scheme to boost competition in the sector. As a condition of RBS’ £45bn government bailout during the financial crisis – £350m of a state aid package has been provided to eleven other banks to help them attract firms. Read [...]
Still feeling entitled? Britain is facing a crisis of intergenerational inequality February 15, 2019 This week, I was audacious enough to suggest that free TV licences for pensioners should not be a public spending priority. The backlash was fierce. “I have paid taxes all my life,” came the outraged cries on social media. This is mostly true, as long as you take “all my life” to mean “until I [...]
One in 10 high street shops lie empty as retailers face spring reckoning February 10, 2019 The extent of the crisis facing UK retailers was laid bare this morning after new figures revealed one in 10 high street shops lie empty, while a string of upcoming cost increases could deal a death blow to struggling stores in the spring. Rising taxes and a shift to online shopping have ravaged British high [...]