Extinction Rebellion protests cost over £50m August 21, 2021 The cost of policing Extinction Rebellion protests are over £50m, and is expected to rise with more demonstrations planned over the next few weeks, according to reports. The Metropolitan Police’s gold commander for the demonstrations, Rachel Williams, said the figure included the response to two protests in 2019 and one in September last year, when [...]
Pound drops to fresh one-month low against the dollar August 20, 2021 Pound sterling sank to a new one-month low against the dollar today on concerns that the global economic recovery from the Covid crisis is grinding to a halt. The pound lost ground on the greenback, falling 0.19 per cent to $1.3913 during morning trading, a fresh one-month low. It hit an intra-day low of $1.3909. [...]
UK consumer confidence inches down in August August 20, 2021 Consumer confidence among Brits edged down over the last month driven by concerns over the possible economic implications of future surges in Covid cases, according to fresh data published today. Research from GfK shows consumer confidence dropped one point over the last month to -8 points in August 2021. The marginal decline is likely to [...]
Extinction Rebellion: City of London to be next climate campaign target August 19, 2021 Environmental activists have said they will begin a fresh campaign next week in the heart of the capital’s financial district. The fortnight-long campaign targets the City of London, which Extinction Rebellion activists blame for stoking climate change with fossil fuel investment chains. Extinction Rebellion (XR) has regularly staged demonstrations across the UK – targeting banks [...]
CV Labs partnership launches British crypto firm Evai onto Bittrex Global exchange – CityAM : CityAM August 19, 2021 The global partnership between CV Labs and British AI crypto company Evai has led to a debut centralised exchange listing for the EVAI token on Bittrex Global from today. This latest development follows the CV Labs partnership announcement in May this year, which welcomed Evai into the worldwide CV Labs ecosystem as the cutting-edge FinTech [...]
City figures warn London’s financial crown at risk if UK does not roll out digital Sterling August 18, 2021 City figures have warned that London’s status as Europe’s financial capital will be in serious jeopardy if the Treasury and Bank of England are slow to introduce digital Sterling. Rishi Sunak said last month that the Treasury was looking into one day releasing a so-called “Britcoin”, but that no decision had been made. Sunak said [...]
Wall Street opens flat as investors await Fed minutes August 18, 2021 Wall Street’s main benchmarks opened broadly flat today as investors held back from making any sudden moves until after the publication of minutes from the Fed’s latest Federal Open Market Committee meeting. The blue-chip S&P 500 edged 0.07 per cent higher to 4,450.73 points, while the Dow Jones inched down 0.07 per cent to 35,321.59 [...]
City Moves: Who’s switching jobs in the Square Mile this week? August 18, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. London First completes leadership shuffle Business lobby organisation London First has strengthened its leadership team this week as it channels its focus on the capital’s return to growth, emerging from the pandemic. Former director of corporate [...]
UK inflation drops to two per cent in July August 18, 2021 Inflation in the UK dropped in July, driven by sharp falls in prices for clothing and footwear as retailers sought to stimulate demand by slashing prices amid the traditional summer sale season, according to official figures released today. The Office for National Statistics said prices rose two per cent over the last year, down from [...]
Digital banks pull ahead of high street rivals in battle for consumers’ wallets August 17, 2021 Digital banks are pulling ahead of their traditional high street rivals in the battle to deliver strong customer services, according to findings from the competition watchdog. The Competition and Markets Authority found that Monzo, Starling Bank and First Direct are the top banks for customer service in Britain. The CMA conducted a survey of 1,000 [...]