Tech Nation lines up potential buyers for assets as closure looms February 12, 2023 Start-up group Tech Nation has reportedly lined up a host of potential bidders for its assets as it prepares to permanently close its doors at the end of March.
New innovation department could be a ‘gear change’ for tech growth, industry chiefs say February 7, 2023 The creation of a new government department for technology and innovation could be a “gear change” for the growth in the UK’s tech sector and represents a “significant” boost for UK innovation, tech chiefs said today.
FTSE 100 close: BP propels London index higher after posting record £23bn profit February 7, 2023 London’s FTSE 100 was boosted by investors piling into oil giant BP , which announced its highest ever full year profits of £23bn last year. The capital’s premier index jumped 0.36 per cent to close at 7,864.72 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Bank chiefs hit back at accusations of profiteering on higher interest rates February 7, 2023 Chief executives from the UK’s four largest lenders today hit back at accusations from MPs that they were too quick to charge customers more interest on their mortgages without offering higher rates on savings accounts. The bank chiefs were asked why interest rates on instant savings accounts remain around one per cent while the Bank [...]
House prices are poised to slide in 2023 but straight into the hands of the lucky few February 7, 2023 There’s a pretty wild variety of house price predictions doing the rounds. Capital Economics have forecast they could fall 12 per cent, while experts at property search site Zoopla are a bit more optimistic. The consensus seems to be somewhere around a six per cent fall in 2023. One thing is certain: house prices are [...]
Retail experts warn of ‘challenging’ months ahead as sales growth slows February 7, 2023 Senior retail figures have warned that the coming months will be “challenging” for the sector, after sales slowed over January, falling below the three-month average growth of 5.2 per cent to 4.2 per cent Helen Dickinson OBE, chief executive at British Retail Consortium (BRC), said consumer confidence remains “stubbornly low” and looming rises in household [...]
City jobs surge in year after Brexit as Barclays, JP Morgan and Revolut accelerate recruitment February 6, 2023 Finance firms ramped up efforts to hire workers in the year after Brexit, with big banks Barclays and JP Morgan and fintech Revolut leading the charge, according to exclusive figures shared with City A.M. London banks, accountants and fintechs led the recruitment charge in 2022, offering more one in two of every vacancy in England [...]
Barclays boss recounts criticism of refusing to stop work amid cancer treatment February 5, 2023 Barclays chief executive CS Venkatakrishnan said that some people accused him of “CEO swagger” when he said he intended to work through his cancer treatment. Writing in the Financial Times for World Cancer Day, Venkatakrishnan – who prefers to be known as Venkat – said he received some messages after his diagnoses that suggested his [...]
Something for the weekend: This week’s five most-read stories on Cityam.com February 3, 2023 A Reddit user called fatmummy, interest rates, vaccines, the ECB and an ignominiouss end to government-funded Tech Nation – here’s what City A.M. readers most wanted to click on this week. One: How a saucepan broke the internet. If lockdown had you baking and prepping then this story would have piqued your interest. Houseproud, or [...]
NatWest boss U-turns on snub of Westminster committee after plea to ensure it won’t be an all-male panel February 3, 2023 The boss of NatWest has U-turned on her decision not to appear in front of MPs next week as they scrutinise the UK’s biggest banks on why savings rates are so low while borrowing costs have spiked. Dame Alison Rose, NatWest’s chief executive, came under pressure from the Treasury Committee after saying she was too [...]