Bring on the post-Brexit vertical farming revolution October 22, 2020 As the UK and the EU stretch out yet another week of “will they or won’t they?” over a trade deal, like a painfully unromantic episode of Neighbours (no jokes about Australian models, please), businesses are not only trying to plan for what happens in January, but also questioning how much we should rely on [...]
CANZUK is a cause in need of a champion — enter Jacinda Ardern October 22, 2020 This past weekend’s sweeping victory for New Zealand Prime Minister Jacinda Ardern brought her Labour Party its largest majority in five decades. Unusually for New Zealand politics, this could mean that Ardern oversees a government without any coalition partners. Yet she appears keen to consider a coalition government nonetheless. It is to that spirit of [...]
UK marketing slump continues after Covid-19 sparks record decline October 22, 2020 British companies reported another “drastic” cut in marketing budgets in the third quarter after the outbreak of coronavirus sparked the largest ever decline in spend. The Covid-19 pandemic has prompted a sharp drop in ad spend across all formats, with negative sentiment leading marketers to slash budgets. A net balance of -41.0 per cent of [...]
Brexit: UK-EU trade talks back on after week of sparring October 21, 2020 Brexit trade talks between the UK and EU are back on just days after Boris Johnson walked away from negotiations. A statement from the government said “we are ready to welcome the EU team to London to resume negotiations later this week” in a bid to get a deal done before the end of the [...]
UK to increase sentence for market abuse in post-Brexit financial regulation October 21, 2020 The UK is planning to increase the maximum prison sentence for market abuse from seven to 10 years, as the government sets out a roadmap for financial regulation after the end of the Brexit transition period. The government is also proposing introducing “more proportionate” regulation of investment firms and giving the City watchdog greater powers [...]
Women make up over half of new partners at UK law firms for first time October 21, 2020 The proportion of women becoming partners at British law firms has topped 50 per cent for the first time, according to an influential ranking of the UK’s legal industry. Almost 52 per cent of newly-ranked lawyers attaining partner level over the past year were female, according to legal ranking firm Chambers’ annual report on the [...]
Bulmers owner C&C warns over impact of second wave on cider sales October 21, 2020 Bulmers and Magners owner C&C Group today warned that the second wave of the coronavirus pandemic could dent its recovery due to ongoing restrictions in the hospitality sector. For the six months ended 31 August, the company swung from a €64.4m operating profit to a loss of €11.7m, due to the closure of pubs and [...]
Accounting watchdog floats strengthening auditors’ obligation to spot fraud October 21, 2020 The UK’s accounting regulator has proposed increasing the requirements on auditors to detect fraud in company accounts following a spate of high-profile accounting scandals. The Financial Reporting Council (FRC) has launched a review into the international accounting standard outlining auditors’ responsibilities to identify fraud. The watchdog is proposing revisions to the standard to provide “increased [...]
UK investors most downbeat in world on own economy October 21, 2020 UK investors are more downbeat about the short-term prospects for their own economy than their global peers, according to new research. Some 43 per cent of UK investors surveyed by UBS in the third quarter said they were optimistic about their own region’s economy over the next 12 months. While the figure represents a three [...]
FTSE 100 drops as pound surges and Covid worries grow October 21, 2020 The FTSE 100 dropped as investors worried over new coronavirus restrictions and the pound soared amid hopes of a Brexit deal, hurting firms’ overseas earnings. London’s blue-chip index opened flat but had tumbled 1.3 per cent by late morning to 5,814 points. The FTSE 250 was down 0.3 per cent. Read more: UK inflation climbs [...]