Spectre of ‘stagflation’ looms over UK economy September 23, 2021 The UK economy is in real danger of undergoing a period of “stagflation” as prices soar and growth slows to a snail’s pace, according to a closely watched survey released today. The latest IHS Markit / CIPS UK composite output index dropped to 54.1 in September, down from August’s reading of 54.8. Chris Williamson, chief [...]
Brexit-proof: City’s share of European investment management market larger than Frankfurt, Paris and Zurich combined September 23, 2021 The City of London’s share of the European investment management market is larger than the combined total of Paris, Frankfurt or Zurich. It is by far the largest investment management hub in Europe with a market share of 37 per cent, according to new data shared with City A.M. today. The City of London and [...]
Thatcherite think tank urges UK to shake off EU regulatory regime September 23, 2021 An influential Thatcherite think tank has called for Britain to shake up its regulatory regime to ensure legacy EU rules do not crowd out innovation after Brexit. The Institute for Economic Affairs (IEA) has urged the government to introduce a “British innovation principle” to avoid choking the UK economy’s competitiveness. The IEA warned the UK’s [...]
UK farmers over the moon as Biden agrees to lift 32-year old US ban on British lamb September 22, 2021 President Joe Biden’s administration is planning to lift a 32-year old ban on the import of British lamb, in a move that has delighted sheep farmers in the UK. Prime Minister Boris Johnson highlighted the move to lift the ban while speaking to reporters in Washington D.C. earlier this afternoon, as he admitted he is [...]
Boris Johnson says US is ‘not doing free trade deals right now’ September 22, 2021 Boris Johnson has conceded that the US is “not doing free trade deals around the world right now”, but insisted there is still a “great deal to be done”. Johnson has been under pressure during his trip to New York and Washington, DC this week as it has become clear that a post-Brexit trade deal [...]
Brexit cancels bonfire night: Import rules reduce UK firework supply by 70 per cent September 22, 2021 The UK is receiving just 30 per cent of the fireworks stock that suppliers usually have for the year, City A.M. has been told today. In fact, there won’t be enough fireworks for the usual Bonfire Night celebrations, and as the date approaches, low supply will increase prices for consumers, according to Doncaster-based supplier Fireworks [...]
Post-Brexit ambitions: UK outlines 10-year plan to become global leader in AI September 22, 2021 The UK has outlined a 10-year plan today to make the country a leader in Artificial Intelligence (AI), in a bid to draw in foreign investment and shape the way it is regulated globally. In the country’s first AI strategy, which comes amid London Tech Week, the UK has proposed a new white paper on [...]
Minister: Joe Biden doesn’t understand ‘complicated’ Northern Ireland Protocol September 22, 2021 Joe Biden does not “fully appreciate” the complex nature of the Northern Ireland Protocol and is “wrong” about the state of negotiations, according to environment secretary George Eustice. Eustice said today that Biden was probably “just reading the headlines, reading what the EU is saying, reading what Ireland might be saying, which is that they would [...]
Startup city: Square Mile investors make London the top place after Silicon Valley for tech firms September 22, 2021 London is second only to Silicon Valley for the best place for startups to thrive, according to a definitive ranking of the world’s major tech and business hubs. The capital tied with New York in second place to the Californian area synonymous with billion-dollar valuations and tech bros – and far ahead of the next [...]
ICAS CEO: ‘Finance professionals are keeping businesses alive’ September 22, 2021 The pandemic has shown CAs at their best. Now we have to build on that trust by continually demonstrating how our actions benefit the greater good, says ICAS CEO Bruce Cartwright CA. This article first appeared in ICAS’ CA magazine. When I speak to students who are joining ICAS to pursue their CA qualification, something I [...]