Goldman Sachs model backs England to win Euro 2020 final – but only after more nail-biting extra-time July 8, 2021 England have a 58 per cent chance of winning the Euro 2020 final against Italy, according to Goldman Sachs. The investment bank’s analysts have modelled the probability of football coming home on Sunday at Wembley using more than 40 years’ worth of data. And their prediction is that England will overcome Italy and win their [...]
Bank of England and FCA: Financial services’ bottom lines will be hit if they ignore diversity and inclusion July 8, 2021 The financial services industry, like many other areas in our society, has made slow progress in becoming more diverse and inclusive. In recent years, social movements in the U.K. and around the world, have put an acute focus on these issues. Where these wider social issues impact the statutory objectives the UK’s financial regulatory authorities [...]
Senior staff at financial services firms to have pay based on diversity performance July 7, 2021 Senior managers at financial services firms could have their renumeration based on their company’s diversity and inclusion performance under new rules announced today. The Financial Conduct Authority, Prudential Regulation Authority and the Bank of England are seeking feedback on proposals put forward to improve diversity and inclusion in financial services. “Linking progress on diversity and [...]
Recruitment boss: Remote working set to hold back younger workers July 7, 2021 Extended periods of remote working are “not healthy” for younger staff as they cannot learn from peers, recruiting boss Robert Walters reckons. Speaking to City A.M., Walters said that “you cannot learn when you’re not next to someone, ideally your boss,” echoing concerns heard across the Square Mile about the dangers of long-term remote work. [...]
Levelling up will fail if Boris Johnson pushes for a nationwide approach July 7, 2021 The phrase “levelling up” has permeated the political lexicon over the past year or so, but few seem to know exactly what it means or how to do it. Andy Haldane, outgoing Chief Economist at the Bank of England, put some flesh on the bones at a timely Policy Exchange seminar last week. For Haldane, [...]
Oil prices reach seven-year high after Opec+ abandon supply talks July 6, 2021 Oil prices climbed to their highest level in nearly seven years today after Opec+ failed to end an impasse over proposed output increases. The price of a barrel of WTI neared $77 in morning trading, its highest since 2014, while Brent crude, the international benchmark, shot up for the sixth day in a row to [...]
Bank of England staff to come in one day a week July 6, 2021 Government guidelines regarding working from home is set to be scrapped on July 19th along with many other restrictions. Bank of England has asked all staff to come in to the office once a week, but this is not to be fully implemented until September, this year. The deputy governor and chief operating officer, Joanna [...]
Developing economies need more funds to tackle climate change – Carney July 6, 2021 The former governor of the Bank of England has warned that developing countries need more funds to tackle climate change. Speaking to MPs on the Treasury Select Committee, Mark Carney said although private financial markets could fund the investment needed to address climate change in rich countries, emerging markets do not have the same volume [...]
London businesses received £16bn through government support schemes July 6, 2021 London businesses took more than £16bn in taxpayer money through the government’s two largest Covid-19 support schemes, it was revealed today. The British Business Bank, which administers the scheme, said that the proportion of the lending to the capital’s business community was about 20 per cent of the national total. That’s broadly in line with [...]
UK construction output growth surges to two decade high July 6, 2021 UK construction output growth reached its highest level for over two decades, according to a closely watched business survey released today. The latest IHS Markit/CIPS UK construction PMI for June was 66.3, up from 64.2 in May, the strongest rate of output growth for exactly 24 years. Sharp rises in business activity across the three [...]