Bitcoin sets a new all-time high and Ethereum starts its journey to ETH 2.0 December 8, 2020 Last week was one of the most exciting weeks in 2020 for the crypto community, with an abundance of bullish news for Bitcoin and the achievement of a huge milestone for the Ethereum Foundation. Bitcoin’s new all-time high is $19,911, and this price was reached at 11:00 UTC on December 1, according to data by [...]
Banning betting companies from sport sponsorship will create a huge void that may never be filled December 7, 2020 A few months ago, football club Swansea City announced its university namesake as its new shirt sponsor and thereby broke ties with a betting company. They may be just the first of many football clubs to break away from gambling and, like Swansea City, they will take a financial hit from the switch. This year’s [...]
O Come, Emmanuel: Hopes of Brexit trade deal run thin as Macron toughens stance December 4, 2020 The latest Brexit talks between the UK and EU “did not go well”, according to reports, as British officials accused French President Emmanuel Macron of making fresh demands at the eleventh hour. Macron is understood to have remained unwavering in his demand that France preserves a substantial portion of existing fishing rights in British waters [...]
Canary Wharf redevelopment gets green light as landlords seek Covid-friendly offices December 1, 2020 Redevelopment plans for a Canary Wharf office block have been given the green light, as property owners seek to capitalise on demand for Covid-19 secure office space. Real estate asset management firm Quadrant and funds managed by Oaktree Capital Management have secured planning permission to redesign 30 South Colonnade in the east London financial district. [...]
Covid crisis could slash wages by ‘£1,200 a year’ by 2025 November 26, 2020 The coronavirus pandemic will prolong Britain’s 15-year squeeze on household incomes and cut pay by £1,200 a year by 2025, according to a major think tank. In a stark report released today, the Resolution Foundation warned that despite politicians proclaiming an end to austerity, “its legacy will continue for many public services” throughout the course [...]
KPMG partner blasts “witch hunt” case at Silentnight tribunal November 25, 2020 A partner at KPMG who is wrapped up in a case involving KPMG, Silentnight and the FRC has described the case as a “witch hunt” during an outburst at the tribunal. David Costly-Wood, a restructuring partner at KPMG is, along with the big four firm, accused of helping private equity firm HIG Capital force the [...]
94% of men and 93% of women working in financial services state their job can be done via flexible working November 24, 2020 New research commissioned by Women in Banking & Finance (WIBF), shows that 94% of males and 93% of females currently working in financial and professional state their job can be done flexibly in terms of location without impacting their performance. This compares to 54% and 75% in responses of past employees. The survey-based research is [...]
Watchdog calls for end to relaxation of pre-emption rules November 20, 2020 The audit regulator has called for an end to the relaxed pre-emption rights past the November deadline, in what has been hailed as a positive step for retail investors. The so-called pre-emption rights were first introduced in March by the Financial Reporting Council (FRC) in a bid to help struggling companies raise cash quickly. The [...]
Snakes and Ladders: Who is moving jobs in the City this week? November 18, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This week, [...]
KPMG rubbishes ‘conspiracy theory’ it helped private equity business dump Silentnight pension liabilities November 17, 2020 KPMG has refuted claims it helped US private equity firm HIG Capital force the insolvency of Silentnight so it could acquire the business without the burden of Silentnight’s £100m pension scheme. Speaking at a tribunal today Mark Phillips QC, who was representing KPMG, said the idea that the big four auditor had jeopardised Silentnight’s ability [...]