Wall Street flat but FTSE ticks up as investors await inflation data June 7, 2021 Wall Street’s main indexes were muted this afternoon as investors stayed on the fence ahead of key inflation data this week, while tech stocks shrugged off a G7 agreement on a new global corporate tax minimum. The Dow Jones Industrial Average and S&P 500 dipped 0.46 and 0.26 per cent respectively by early evening trading. [...]
Exclusive: City of London Police’s asset forfeitures jump by 3,600 per cent as priority shifts to higher-value fraud May 27, 2021 The City of London Police issued Account Freezing Orders and Account Forfeiture Orders against assets worth £36m last year, compared to less than £1m in 2019, a jump of 3,600 per cent, according to research by law firm RPC, exclusively shared with City A.M. this evening. Account Forfeiture and Account Freezing Orders allow authorities to [...]
Fee-earning opportunities from sustainability: Is your firm leaving cash on the table? May 27, 2021 The ever-evolving topic of sustainability can create ways to grow your business and further serve your clients. Sustainability comprises the many elements of environmental, social and governance (ESG) topics, that are evolving over time; vary across company, industry and country; and involve such a huge range of different stakeholders, concepts, frameworks and rules. Parking semantics [...]
An increase in Professional Services M&A May 26, 2021 In recent years, there has been a noticeable increase in M&A and corporate transactions involving professional services firms, for instance law firms, accountancy practices and consultancy businesses. This has been driven by a number of factors, including the growing revenues and earnings in certain sub-sectors of professional services; the increasing appetite of certain private equity [...]
US businesses team up to oppose Biden’s tax rise proposals May 25, 2021 Business groups in the US have formed a coalition to oppose tax increase proposals by the Biden administration. The US government has proposed a global minimum corporation tax rate, as well as increasing tax payments in the US in order to pay for infrastructure projects. The tax proposals “could not come at a worse time”, [...]
FTSE 100 rebounds from five-week low while Wall Street extends recovery May 14, 2021 London’s FTSE 100 rebounded this afternoon as heavyweight financials stocks lifted the index after hitting a five-week low yesterday. The blue-chip index rose one per cent during afternoon trading, with software firm Sage adding 3.4 per cent after forecasting a year of growth towards the top end of its range. Read more: IPO: London commodities [...]
The City is the global gateway for financial flows post-Brexit, says Africa’s rising finance star May 13, 2021 With the focus of Brexit being on the relationship between the UK and EU, some in the City and beyond argue that not enough attention is given to the international impact of Brexit, specifically on Africa. With the removal of European market caps, there has been an increase in trade between the UK and Africa, [...]
Rishi Sunak: Wealthy will be spared from post-pandemic tax raid May 5, 2021 Wealthy families will escape a post-pandemic tax raid earmarked to boost the economy, Rishi Sunak has suggested, as the chancellor praised Britain’s already “very progressive tax system”. Sunak said yesterday that he is “cautiously optimistic” about an upswing in economic growth, as Brits prepare to spare pent-up cash alongside the relaxing of lockdown restrictions. Speaking [...]
Facebook to announce this week if it will permanently dump Trump May 3, 2021 Facebook will shortly decide on whether to uphold Donald Trump’s indefinite suspension from Facebook and Instagram after he was banned from the platforms earlier this year. Facebook’s independent oversight board will make a decision on May 5 whether to uphold the ban on the former US president on a permanent basis. In the first move [...]
Warren Buffett’s Berkshire bounds back from worst of pandemic May 1, 2021 Warren Buffett’s Berkshire Hathaway has said its results are rebounding from the worst effects of the Covid-19 pandemic, and that it has extended its aggressive stock repurchases with $6.6bn of new buybacks. First-quarter results suggest that the Omaha, Nebraska-based conglomerate that owns dozens of businesses, is through the worst effects of the pandemic, including the [...]