FCA cancels £205,000 of bonuses after LCF scandal report December 17, 2020 The Financial Conduct Authority (FCA) has cancelled £205,000 worth of executive bonuses after a damning report found the watchdog had failed to properly regulate a collapsed firm. But FCA employees implicated in the report are now facing calls to pay back bonuses for previous years after an investigation found “significant gaps and weaknesses” in the [...]
Furlough scheme to be extended until April and loans to continue, too December 17, 2020 The Chancellor has confirmed today that the furlough scheme will be extended an extra month until the end of April 2021. The scheme had been intended to close in March, itself an extension from an original planned end date in the middle of 2020. The furlough programme pays 80 per cent towards wages of unworked [...]
Oh Ambassador, you’re buying us? Ferrero add Eat Natural to portfolio December 17, 2020 Italian confectionary giant, Ferrero will acquire Eat Natural, expanding into the healthy snacking market for the first time.
Sole rights: Michael Gove pushes for UK sovereignty over fishing waters in Brexit talks December 17, 2020 The UK is not prepared to sign a trade deal with the EU unless British fishermen have “sole rights” to fishing waters around the isle, Michael Gove has confirmed. Speaking at a meeting on the future relationship with the EU, Gove said it is the UK’s “intention” that British fishermen will have exclusive access to [...]
Bank of England holds rates and says vaccines ‘reduce risks’ to economy December 17, 2020 The Bank of England has left interest rates on hold at 0.1 per cent and its bond-buying programme at £895bn, saying the arrival of vaccines is likely to boost the economy next year but warning new restrictions will weigh on growth in the winter. It comes after the Bank expanded its quantitative easing programme by [...]
New: European Parliament paves way for emergency Brexit session December 17, 2020 The European Parliament ‘stands ready’ to convene an emergency session before the end of the year if the United Kingdom and the European Union can strike a deal by midnight Sunday. In a statement, bosses said if a deal was struck by “midnight on Sunday 21December” and though this is not in fact the date [...]
Bentley CEO Adrian Hallmark: “My ideal Christmas present is an EU deal” December 17, 2020 We speak with Bentley CEO Adrian Hallmark about a challenging 2020, the future of luxury and the move to electric and self-driving cars.
Rishi Sunak ‘to extend emergency Covid business loan schemes’ December 17, 2020 Chancellor Rishi Sunak is set to extend the UK’s £68bn coronavirus emergency loan schemes to help support businesses hit with the double whammy of Covid and Brexit, according to reports. Officials are drawing up plans to extend the three main loan guarantee schemes, including the government’s £43.5bn coronavirus bounce back loans programme, the Financial Times [...]
FTSE 100 slips but global markets hit fresh highs on vaccines and stimulus December 17, 2020 The FTSE 100 slipped, weighed down by a rising pound, as global markets hit a new all-time high amid optimism about vaccines and fiscal and monetary stimulus. Despite the rise in global stocks, the FTSE 100 lagged behind as the pound rose 0.8 per cent to $1.360, a 32-month high. A higher pound weighs on [...]
Mid-market firms optimistic about Brexit impact despite talks dragging December 17, 2020 Despite the increasing possibility of a no-deal Brexit, 38 per cent of UK mid-market business predict that Brexit would have a positive impact on their business.