Lord Mayor calls on financial regulators to focus on innovation and sustainability September 22, 2021 Lord Mayor of the City of London, William Russell, will tonight (22 September) deliver a speech at the City Dinner at The Mansion House to an audience of senior regulators and representatives from across the financial and professional services industry. Lord Mayor William Russell will speak alongside Sam Woods, Deputy Governor of the Bank of England [...]
Hours after IPO, Universal Music faces competition inquiry September 22, 2021 Hours after its shares surged by more than a third on its trading debut, Universal Music and other major record labels have been threatened by an official investigation into their dominance of the music market. Government ministers have called on the UK’s competition watchdog to take the first step towards regulatory action and conduct a [...]
‘Quality losses’ matter more to investors than ‘quality gains’ September 21, 2021 People dislike losses more than they like gains. Known as loss aversion, this phenomenon, or behavioural bias, serves as a cornerstone of prospect theory, developed by Daniel Kahneman and Amos Tversky more than 40 years ago. A forthcoming paper, which I co-authored with Didem Kurt, Koen Pauwels and Shuba Srinivasan, applies this theory to product [...]
Exclusive: Sustainable targets are everyone’s responsibility, says festival veteran September 21, 2021 The founder of a festival focused on sustainability and innovation in fashion has said customers and businesses need to join forces to tackle fast fashion. The organisation Fashion District aims to bring businesses together, attract global talent to East London and accelerate growth in manufacturing in the area. From September 22 to 26, Fashion District [...]
Dignity sees steep rise in spend-per-service as 41,000 funerals bury last year’s losses September 21, 2021 Funeral giant Dignity has revealed it has seen the amount spent on each funeral increase but the number of deaths fall. Spending on each funeral rose from £2,461 in the first half of last year to £2,628 in the first six months of 2021. But Dignity only conducted 41,400 funerals, compared with 46,000 a year [...]
Post-pandemic surge in job vacancies benefitting low skilled male workers September 21, 2021 Workers in low paying occupations are in high demand post-pandemic with vacancies up by a fifth according to a new study. While recent ONS data showed that worker vacancies surged to a record 1m in August the IFS has revealed that demand is patchy across the jobs market. Vacancies in the lowest-paying third of occupations [...]
CMA: UK businesses have until New Year to clean up greenwashing claims September 20, 2021 The UK’s competition watchdog has today given British businesses a deadline of the end of the year to resolve any misleading green marketing claims – so-called “greenwashing” – to avoid regulatory action. At the beginning of 2022, the UK’s Competition and Markets Authority (CMA) will carry out a full review of the environmental declarations made [...]
City should brace itself for €900bn Brexit hit if Brussels plays clearing politics September 17, 2021 The City and several financial services groups in Brussels are lobbying for an extension to clearing house access beyond June of next year. Yesterday, a trio of major lobby groups for Europe’s finserv sector called on Brussels to extend the EU’s access to London clearing houses amid warnings of financial instability. The groups wrote to [...]
City should brace itself for €900bn Brexit hit if Brussels plays clearing politics – CityAM : CityAM September 17, 2021 The City and several financial services groups in Brussels are lobbying for an extension to clearing house access beyond June of next year. Yesterday, a trio of major lobby groups for Europe’s finserv sector called on Brussels to extend the EU’s access to London clearing houses amid warnings of financial instability. The groups wrote to [...]
Chinese Uber rival Didi’s users drop by 30 per cent after US IPO saga – CityAM : CityAM September 16, 2021 Chinese ride-hailing giant Didi has lost 30 per cent of its app’s daily users since its $4.4bn IPO in New York at the end of June, in the latest blow to the company following Beijing’s harsh regulatory crackdown for an alleged data breach. Didi’s average daily users plunged to 10.9m in August from 15.6m in [...]