MPs’ pay to rise to almost £80,000 a year thanks to inflation-busting increase February 28, 2019 MPs’ basic salary will rise to £79,468 from 1 April thanks to an inflation-busting 2.7 per cent pay rise, it has been announced. Read more: Cancelling Commons' recess cost £400,000… yet there was no Brexit vote The Independent Parliamentary Standards Authority – which sets the level of MPs' pay – said the move was inline with [...]
Metrobank shares plunge as cash call spooks investors February 26, 2019 A fresh wave of investor concern loomed over Metro Bank tonight after an emergency cash call and news of a regulator probe spooked the City. The dog-friendly challenger bank made a shock move to rush out its full-year results this evening in a bid to quell concerns after announcing a plan to tap up investors [...]
UK growth ‘guaranteed’ to fall in no-deal Brexit, Mark Carney warns MPs February 26, 2019 UK growth is “guaranteed” to fall in the event of a no-deal Brexit, the Bank of England’s governor Mark Carney has told MPs. The Bank slashed its UK growth forecast for 2019 to 1.2 per cent earlier this month – down from the 1.7 per cent forecast in November – even on the assumption of [...]
How to ride the pound sterling rollercoaster through a no-deal Brexit February 26, 2019 With no signs of letting up, the cold winds of Brexit uncertainty blowing through parliament have been pretty chilling for the UK economy. With Theresa May revealing on Sunday that MPs might not vote on her new deal until 12 March, and rumours swirling that Brexit may be delayed until May or beyond, businesses are [...]
Female founders don’t need to be ‘bolshie’ to match the boys February 26, 2019 Earlier this month, chief secretary to the Treasury Liz Truss wrote in City A.M. concerning the lack of funding for all-female startups. As she pointed out, 90 per cent of venture capital funding goes to firms with all-male teams, compared to just one per cent for all-female teams. In her article, Truss proposed a number [...]
Small businesses get no-deal Brexit survival guide amid fears firms are not ready February 25, 2019 Businesses have been issued with guidance on how to prepare for Brexit amid increasing fears SMEs are not ready for a no-deal. UK Finance – the trade body for the UK’s banking and financial services sector – has urged businesses to speak to their banks about extra finance as soon as possible and consider the [...]
‘Bridge over Brexit’: UK and US strike post-Brexit derivatives and trading deal in major boost for the City February 25, 2019 Derivatives trading and clearing between the UK and the US will continue as normal regardless of the outcome of Brexit, the Bank of England said today in a major boost for the City. The US Commodity Futures Trading Commission (CFTC), the Bank of England and UK watchdog the Financial Conduct Authority (FCA) have struck a deal to [...]
Finally, the Tories have tackled the UK’s deficit February 22, 2019 Credit where it’s due, Philip Hammond has finally conquered the deficit – albeit several years after his predecessor George Osborne originally promised to have done so. While the government is still spending more money than it generates, the UK’s rate of borrowing is considerably below pre-crisis levels. In its analysis of yesterday’s borrowing figures the [...]
A Brexit-induced price drop won’t fix the housing crisis February 21, 2019 The last 30 years have seen house prices in London soar to dizzying heights. The average home has leapt from £81,536 in 1988 to £473,882 in 2018 – that’s a 481 per cent increase. If the cost of a pint of milk (26p in 1988) had jumped up at the same pace, it would now [...]
Awards 2022 February 20, 2019 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]