Week in Sportbiz: Taxman cometh for football (again); BT Sport; Simone Biles; social media boycott; and NHS x NFL draft April 29, 2021 HMRC has cashed in by increasing scrutiny of the football industry, so perhaps it should be no surprise that the taxman has begun a new crackdown on players and clubs. Investigations into footballers almost tripled in 2019-20, while those concerning clubs more than doubled. The result was an increase from £35m to £73m in tax [...]
Number of Brits on furlough falls by 1m as lockdown eases April 29, 2021 The number of UK workers on furlough fell by more than 1m this month following the first easing of Covid-19 lockdown measures. Official figures published today showed the proportion of the workforce on furlough dropped from 17 per cent to 13 per cent as of 18 April. This equates to roughly 4.3m workers on furlough [...]
What is the post-pandemic outlook for Asian shares? April 28, 2021 Despite the global turmoil caused by the Covid-19 pandemic, stock markets were generally strong in 2020 and the Asia ex Japan region was no exception. Indeed, in many ways the region was first into the pandemic and first out, with successful containment of the virus in many countries enabling economic activity to resume more quickly [...]
France threatens to block City of London from EU if UK does not open up its fishing waters April 27, 2021 France has threatened to keep the City of London out of EU markets post-Brexit if the UK does not increase access to its waters for the country’s fishermen. France’s European affairs minister Clement Beaune today hit out at the UK’s post-Brexit fishing arrangements, saying there would be “retaliation measures” taken if the UK does not [...]
Review of banker bonus cap not top of the agenda, says BoE official April 26, 2021 A review of the cap on bankers bonuses is not top of the Bank of England’s priority list, according to an official. Now the UK is out of the EU it is free to set its own regulatory agenda on financial services. It has previously been reported the Treasury is considering scrapping the cap entirely [...]
Crypto markets undergo brief correction after Bloomberg reports that Biden plans to double capital gains taxes for the rich April 26, 2021 Cryptocurrency markets undergo brief correction after Bloomberg reports that Biden plans to double capital gains taxes for the rich.
Peter Harrison: The City must back Sunak’s vision for the stock market April 26, 2021 The relationship between the stock market and the economy is fundamental to any nation’s wealth. Without the effective channelling of capital to the best businesses, all suffer. For decades, London has been a world-leading financial hub, but now its future is less certain. First, consider an example of its success. Exactly 20 years ago, a [...]
Labour pushes government to face cronyism allegations in House of Commons tomorrow April 25, 2021 Labour has called for a senior minister to face questions in parliament tomorrow on the ongoing allegations of cronyism and sleaze engulfing Boris Johnson’s government. The opposition has called for the government to answer an urgent question tomorrow in the Commons, after a series of explosive claims released by Dominic Cummings on Friday. Deputy Labour [...]
UK set for ‘very rapid growth’ over next quarters, says BoE’s Broadbent April 25, 2021 Bank of England deputy governor Ben Broadbent said that the UK would see “very rapid growth” over the next couple of quarters as people rush to spend after lockdown. In an interview with the Telegraph, he said that the economy would see a boost simply from people saving less after the pandemic, let alone spending [...]
Public debt: Who has lent a staggering £2.1 trillion to Rishi Sunak? April 23, 2021 Government debt has hit its highest point as a portion of gross domestic product since the early 1960s when the country was still paying off what it had borrowed to fund the fight against Nazi Germany, new figures showed this morning. Last year spending skyrocketed to pay for dozens of programmes to prop up the [...]