Financial services leaders team up to launch net zero alliance April 21, 2021 Leading financial services firms have today announced the launch of a new alliance to reach net zero emissions ahead of President Biden’s climate summit. The Glasgow Financial Alliance for Net Zero (GFANZ) will bring together existing and new net zero initiatives and will be made up of 160 of the world’s biggest banks, asset managers [...]
Before the Bell: UK remains steady as economy slowly starts to reopen April 20, 2021 European stocks started the week in a subdued fashion, with the FTSE100 only just managing to close above the 7,000 level, while the DAX also slipped back from its record highs of last week. US markets also finished the day on the back foot, weighed down largely by weakness in tech stocks, which may well [...]
European Super League: UK government vows to do ‘whatever it takes’ to block proposal April 19, 2021 The UK government will do “whatever it takes” to block six Premier League teams from creating a new breakaway European Super league including withdrawing previous funding, according to culture secretary Oliver Dowden. Dowden told MPs today that last night’s announcement from 12 clubs – including Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham – [...]
Mind the GAAP! The dangers of “growth at any price” stocks April 19, 2021 Anyone who has ever taken a subway in New York City or frequented the London Underground will be familiar with the warning to “mind the gap” between the carriage and platform. In a similar fashion, investors also need to be fully aware of the dangers posed by the GAAP, or “growth at any price” stocks. [...]
Treasury to move forward with recommendations set out in listings review April 19, 2021 The Treasury will move forward with recommendations made by Lord Hill to encourage more fintechs to list in the UK. Last month the former EU commissioner published a set of recommendations which called for a range of deregulatory measures. Among the recommendations was the use of dual class shares, which allow company founders to maintain [...]
UK leads race across Europe to introduce interbank digital currency April 19, 2021 The UK is ahead of the curve when it comes to digital currency adoption, according to new research, and could A report by PwC reveals the UK is fifth in the world when it comes to preparing for the adoption of a central digital currency although a consumer offer remains a while off yet. Like [...]
Fan fury as JP Morgan and biggest football clubs team up on European Super League April 19, 2021 The football world has been plunged into chaos after it was announced that six English football teams will join a new breakaway European Super League in what would be the biggest shake-up of the game in recent years. Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham are among the clubs that are set to [...]
National Audit Office launches investigation into Greensill’s involvement in Covid loan schemes April 16, 2021 The National Audit Office (NAO) has launched a probe into supply chain finance firm Greensill Capital following its collapse. Last month the supply chain finance firm appointed Grant Thornton as its administrators, warning it is in “severe financial distress” as its practices came under severe scrutiny. Now the NAO will investigate Greensill’s involvement in the [...]
Government faces backlash over compulsory Covid vaccines for care home staff April 14, 2021 Ministers have been accused of using care home staff as “guinea pigs” for forced vaccinations after the government today opened a consultation on whether to make compulsory Covid jabs part of their work contracts. The Department of Health and Social Care (DHSC) said it would take evidence over a five-week period on whether staff should [...]
Treasury Select Committee launches inquiry into Greensill Capital scandal April 14, 2021 Westminster’s Treasury Select Committee has today launched an inquiry the Greensill Capital lobbying scandal. Committee chair Mel Stride said MPs would “take a closer look” at the circumstances surrounding efforts by David Cameron and former senior civil servant Bill Crothers in lobbying on behalf of the failed finance firm. A statement from the committee said [...]