Farmers to see EU-style subsidies cut in half by 2024 – reports November 27, 2020 English farmers are set to see their EU-style subsidies cut in half over the next four years under the government’s post-Brexit transition plans. When the UK was a member of the EU, farmers were paid so-called “basic payments” under the EU’s common agricultural policy. After leaving the bloc in January, ministers continued to make payments [...]
End of an era: Unilever trading in Amsterdam for the last time today November 27, 2020 Unilever’s Dutch shares will trade in Amsterdam for the last time today, before a unification of the group’s dual-headed structure that aims to put the consumer goods maker on a better footing to cope with an uncertain future. The merger over the weekend of Unilever’s Dutch and British corporate arms into one legal entity based [...]
Vodafone brings forward net zero carbon pledge to 2040 November 23, 2020 Vodafone today pledged to reduce its total global carbon emissions to net zero by 2040 — ten years earlier than originally planned. The telecoms group said it will eliminate all carbon emissions from its business activities and purchase all energy from renewable sources by 2030. It has also pledged to halve carbon emissions from joint [...]
City grandee Michael Spencer pumps £11m into British cyber firm Glasswall November 20, 2020 City titan Lord Michael Spencer is said to be leading a £16m investment in cybersecurity firm Glasswall as he looks to cash in on rising demand for specialist security software. The billionaire Icap founder has agreed to anchor the fundraising round with a £11m cash injection through his private investment vehicle IPGL, Sky News reported. [...]
City veteran Martin Gilbert joins board of wealth firm Saranac Partners November 11, 2020 Former Standard Life Aberdeen chief Martin Gilbert has joined wealth firm Saranac Partners as a non-executive director. The veteran investor has taken on several board positions since standing down from Standard Life Aberdeen in March 2019 to join challenger bank Revolut as chair. He is also a senior independent non-executive director at Glencore, as well [...]
Snakes and Ladders: Who is moving jobs in the City this week? November 11, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. Read more: Snakes [...]
Barclays fossil fuel financing increases despite ‘net zero’ pledge November 11, 2020 Barclays has increased its financing of fossil fuel firms despite setting a ‘net zero’ goal for itself earlier this year following investor pressure, according to a new report. The bank, which is Europe’s largest fossil fuel financer, provided $24.58bn (£18.55bn) in underwriting and lending to major fossil fuel companies between January and September this year. [...]
Rishi Sunak announces post-Brexit outline for City of London November 9, 2020 Rishi Sunak has outlined the City of London’s future after Brexit, which will aim to provide stability for EU financial services firms operating in the UK while also trying to open up the sector to more international markets. Sunak said the Treasury today was unliterally publishing “a set of equivalence decisions for EU and EEA [...]
Car sales fall again in worst October in nine years November 5, 2020 Sales of new cars declined again last month in the weakest October in nine years for the UK car market. New figures from the Society of Motor Manufacturers and Traders (SMMT) said that sales dropped 1.6 per cent to 140,945. More than half of the decline came as a result of Wales’ two week “firebreak” [...]
Thanks to reverse mentoring, I am confident that our uncertain future is in safe hands November 5, 2020 It is difficult to recall a time when the future looked less certain than it does today. Perhaps the only thing we can be sure of right now is that we are at the beginning of a challenging period, as we grapple with the impacts of the pandemic on the economy. For younger people, the [...]