DEBATE: Should we learn from the ‘Scandinavia summer’ model and take the month of August off? August 27, 2019 Should we learn from the ‘Scandinavia summer’ model and take the month of August off? Mathias Mikkelsen, chief executive of productivity startup Memory, says YES. For anyone visiting Oslo at this time of year, they might find it strangely quiet. Despite the sunshine bringing our maritime city to life, the streets are empty. The reason? [...]
Filled with HS2 fever? No? Then let’s think up something better August 27, 2019 HS2, the unloved child of British infrastructure, looks like a goner. And while those into trains might spot that there is a review underway, there can be little doubt that this in itself sends a terminal signal to a project that once seemed to offer a glimpse of what a brave new British future might [...]
Time to scrap our archaic and misguided Sunday trading laws August 27, 2019 The Sunday Trading Act 1994 came into force 25 years ago yesterday, allowing shops to open on Sundays, but restricting opening times of stores over 3,000 square feet to six consecutive hours between 10am and 6pm. This compromise followed the defeat of the Shops Bill 1986 – Margaret Thatcher’s only defeat in the House of [...]
Number of people employed by Aim-listed businesses increases 76 per cent over five years August 27, 2019 The number of people employed by companies listed on London’s junior Aim market has increased 76 per cent over the last five years, to reach almost 390,000 people. Revenues of Aim-listed businesses have also grown significantly, with an 86 per cent increase over five years, bringing total revenues to £58bn, according to accountancy firm BDO. [...]
Crunch time: How would City law fare in another downturn? August 27, 2019 The last recession hit the City legal market hard. The top firms launched unprecedented restructurings, slashing thousands of jobs as credit dried up and deals ground to a halt. Magic Circle firm Allen & Overy cut nearly ten per cent of its workforce worldwide, ditching 47 partners, 200 junior lawyers and 250 support staff. One [...]
Boardroom survey finds fears over UK economy August 27, 2019 A majority of business boardrooms are predicting a downturn in the UK economy over the coming year, as Brexit uncertainty and trade war troubles take a toll on corporate confidence. Almost 70 per cent of respondents from FTSE 350 companies believe that the UK economy will decline in the next 12 months, improving from 81 [...]
Optimism across UK’s dominant service sector tumbles in second quarter August 27, 2019 Optimism across the UK’s dominant service sector fell sharply in the three months to August, according to a new survey, in news that will worry policymakers as Britain flirts with recession. Read more: Into the red: UK economy shrinks for first time in seven years in second quarter The mood in the business and professional [...]
Tech founders warn UK at risk of losing global fintech crown August 27, 2019 Tech founders have warned that the UK is at risk of losing its position as the global fintech leader. Sector leaders urged the government to “not be complacent” about the country’s fintech crown, as a new survey revealed that founders were concerned about access to talent and capital and the potential impact of Brexit. Read [...]
Johnson and EU leaders disagree over £39bn Brexit divorce bill August 26, 2019 Britain and the EU fired warning shots to one another today as disagreements over a £39bn Brexit divorce bill threatened to jeopardise hopes of a trade deal between the two sides. Read more: Boris Johnson: Brexit deal is now ‘touch and go’ Talks between Prime Minister Boris Johnson and EU leaders ended today with a [...]
German CDU leader pledges to keep balanced budget as recession looms August 26, 2019 The leader of Germany’s ruling party has resisted calls to increase government spending to stimulate the economy, saying the “black zero” balanced budget policy is “indispensable”. Read more: German business confidence slumps to lowest point since 2012 Annegret Kramp-Karrenbauer, the leader of German Chancellor Angela Merkel’s Christian Democrats (CDU), said at a news conference: “The [...]