UK firms now having to pay £50,000+ ‘security bond’ to litigate in EU post-Brexit October 25, 2021 Following the end of the Brexit transition period UK businesses are now having to pay ‘security bonds’ of £50,000 or more to courts in the European Union in order to litigate there, legal experts told City A.M. today. These bonds could make it more difficult and costly for UK businesses to defend their intellectual property [...]
Hiring bonanza: Nearly nine in ten London employers plan to recruit new staff in next 12 months October 25, 2021 Just over 85 per cent of all London employers are planning to recruit staff in the capital over the next 12 months, the highest recruitment intentions in eight years, according to new figures shared with City A.M. today. Over two-thirds (67 per cent) of employers who are hiring are looking for permanent staff, whilst a [...]
Budget: International competition to become new priority for City watchdogs October 25, 2021 The Treasury is reportedly going to reveal this week that City regulators must consider competition as much as they do safety and soundness when making key decisions. The move, set to be unveiled in the budget, is expected to be accompanied by a cut in surcharge tax on banks’ profits. The Treasury has been in [...]
First deal for new UK Infrastructure Bank as it pumps £107m into green energy hub October 25, 2021 The brand new UK Infrastructure Bank said this morning it plans to invest £107m in the South Bank Quay development at Teesworks, a green energy hub in Teesside, North-East England, creating around 800 jobs. The deal marks the first investment for the bank, which launched in June of this year to finance innovative infrastructure projects, [...]
Brexit: MPs call out EU for delaying UK inclusion in Horizon R&D programme October 25, 2021 A parliamentary committee has called out Brussels for blocking the UK’s entry to the Horizon Europe research and development programme, claiming that it is damaging British businesses. A report from Westminster’s European Scrutiny Committee today said delays were leading to “increasing opportunity costs” for British businesses and research institutions as they are frozen out of [...]
Bankers on track for record bonuses this Christmas October 24, 2021 City bankers could take home a bumper payout in time for Christmas following a year of record dealmaking and capital raising activity. With many city banks gearing up for bonus discussions in the coming weeks industry experts have predicted that bonuses could reach their highest level in over a decade, the Telegraph first reported. It [...]
UK calls for ECJ to loosen grip on Northern Ireland trade rules October 24, 2021 The UK has said that post-Brexit talks with the EU over Northern Ireland trade rules are constructive, but substantial differences remain. Goods sent between Britain and Northern Ireland have to undergo customs checks as part of a protocol agreed before Brexit to avoid a hard border between Northern Ireland and Ireland which is an EU [...]
Laura Kuenssberg to step down as BBC’s political editor October 22, 2021 The BBC has refused to speculate on reports Laura Kuenssberg is stepping down as its political editor to join the Today programme. The Guardian says Kuenssberg is negotiating stepping away from her role of the past six years as part of a major reshuffle of the BBC’s on-air staff. Her departure would leave open the [...]
Editorial: Beware our drift into a high-tax economy October 22, 2021 Over the past few years, Emmanuel Macron and other French leaders have gone to great lengths to tempt international businesses across the channel onto French soil. This has verged from the sublime (investment dinners at Versailles) to the ridiculous (adverts from ‘The Normandy Times’ in British papers looking for ‘hot entrepreneurs… allergic to post-Brexit tariffs). [...]
Britain’s foreign policy rests on a new incarnation of the ‘Anglosphere’ October 22, 2021 Exactly twenty years ago I was one of a very small group of people to formulate the concept of the Anglosphere in international relations. It found that seven out of 10 of the world’s freest economies were former colonies of an eighth. For better or for worse, Bahrain, the US, Australia, New Zealand, Hong Kong, [...]