Post-Brexit UK should judge financial services climate against New York and Singapore, says City minister June 21, 2021 City minister John Glen this morning said the future regulatory environment for UK financial services should be judged against New York and Singapore. Glen, speaking at The City Week conference, hinted that global growth meant competition with non-European hubs would be a driving force behind regulatory decision-making, rather than focussing on any potential equivalence deal [...]
Blair think-tank: Work from home revolution could see millions of white collar jobs outsourced June 21, 2021 The relative success of pandemic-era working from home could result in as many as 6m white-collar jobs being moved overseas, Tony Blair’s think-tank has warned this morning. The last year has loosened the geographical ties of work, argues a new report from the think-tank, that makes it possible “anywhere jobs” could be done overseas. Read [...]
UK remains Europe’s most attractive spot for financial services investment June 21, 2021 The UK continues to be Europe’s most attractive location for international investment into financial services, however the gap with France – the second largest recipient of investment – has narrowed. In 2020 the UK secured 49 foreign investment projects in financial services, just 14 per cent more than France, and considerably less than the 99 [...]
France targets City of London firms in post-Brexit ‘Choose France’ push June 20, 2021 French President Emmanuel Macron has began a new push to bring City of London firms to Paris post-Brexit. JP Morgan chief Jamie Dimon and Goldman Sachs boss David Solomon have been invited to Macron’s “Choose France” event at the Palace of Versailles on 28 June, where the President will try to make the case for investment in [...]
‘Unravelled’ Paddington property agent jailed over death threats to John Bercow, Jeremy Corbyn and other MPs June 18, 2021 A businessowner from Paddington was sentenced to one year in jail this afternoon after he bombarded MPs with a string of “vile” messages and email, including death threats. His victims included former Commons speaker John Bercow, ex-Labour leader Jeremy Corbyn, former home secretary Amber Rudd and SNP Westminster leader Ian Blackford. Paul Ritchie, pleaded guilty [...]
UK-EU food and drink exports halve in first quarter June 18, 2021 The UK exported more food and drink to countries outside the EU than to the bloc in the first three months after Brexit, a first for the sector. However, that is because exports to the EU dropped by nearly half – 47 per cent – compared to the first quarter of 2020. Exports to non-EU [...]
Tesco grapples with Brexit-driven lorry driver shortage June 18, 2021 Tesco is “working hard” to address a shortage of HGV drivers, the supermarket’s boss revealed in a call today following its quarterly results. “In terms of labour availability, we’ve seen some shortage specifically in HGV drivers, but we’re working really hard to address that,” Ken Murphy said in the post-results phone call this morning. “We’ve [...]
Boris Johnson stands at the crossroads of another Huawei saga if Amazon Web Services crushes UK cloud products June 18, 2021 Cloud computing in the UK is at a crossroads: on one path is a vibrant domestic growth sector able to compete on the international stage, down the other is an industry dominated by a few Big Tech giants and stymied by policy inaction. In recent years, British tech companies are being overlooked time and time [...]
UK remains an attractive M&A destination, climbing slightly despite Brexit June 17, 2021 Britain has remained an attractive destination for inbound investment despite leaving the European Union, according to the latest global rankings for M&A attractiveness. The UK climbed two places to the fifth most attractive place in the world for M&A activity in 2020, in the latest global Mergers and Acquisitions Attractiveness Index Score (MAAIS) by City [...]
Novemba to rain at Ascot June 17, 2021 WHEN the declarations were made for the Coronation Stakes (4.20pm) earlier in the week, I was desperately hoping that the German filly NOVEMBA would feature among the final field. The challenges of travelling anywhere in the world at the moment are tough for all of us, but pale into insignificance when you consider the difficulties of moving a [...]