Five best read on City A.M.: EY ‘business as normal’, 1,300 Lloyds Pharmacies up for closure, Cameron Smith, F1 ‘marriage’ on the rocks and crypto ban March 10, 2023 EY’s decision to push ahead with mid-year promotions after KPMG called off its April round was this week’s best read story on City A.M. It had some stiff competition with sporting heroes Cameron Smith and Lewis Hamilton vying for readers’ interest, not to mention news of a crypto ban and high street closures. We look [...]
UK economy ‘bounces back’ in another signal a recession is off the table but experts warn of stagnation March 10, 2023 The UK economy “bounced back” from a sharp contraction over Christmas and is holding up better than feared in another sign the country could avoid a recession, official figures out today show. Gross domestic product (GDP) jumped 0.3 per cent in January, better than the consensus forecast of 0.1 per cent growth, according to the [...]
Female tech founders bag £3.6bn despite wider investment slump March 8, 2023 Venture capital investment into tech firms founded by women jumped last year despite soaring inflation and volatility sparking a slowdown in funding across the sector, new figures reveal. Female founders shrugged off the downturn that hit the UK’s tech sector last year and bagged some £3.6bn of VC, up from £2.9bn the previous year, according [...]
London businesses shelve hiring plans amid UK recession uncertainty March 8, 2023 London businesses are the most reluctant to take on new staff in the UK due to uncertainty over whether the country will eventually tip into recession, a closely watched survey out today reveals. The capital’s firms are trimming intentions to expand their workforce due to concerns over a looming drop in consumer spending amid the [...]
Retail sales: Shoppers feeling the love in lead up to Valentine’s Day not enough to protect sector from ‘volatile trading conditions’ March 7, 2023 Shoppers scrambling for gifts in the lead up to Valentine’s Day helped boost retail sales in February, however the sector has warned that it’s still facing “volatile trading conditions”. According to figures published by the British Retail Consortium (BRC), UK total retail sales increased by 5.2 per cent in February as consumers showed they were [...]
UK’s Serious Fraud Office should cover ENRC’s £21m costs in corruption investigation, London’s High Court hears March 6, 2023 Kazakh mining company ENRC today said the UK’s Serious Fraud Office (SFO) should, alongside US law firm Dechert, cover extra costs it accrued because of ex-City lawyer Neil Gerrard’s decision to leak company information to the fraud investigator, leading to the launch of a 10-year probe into the former FTSE 100 firm. At the opening [...]
A decentralised world brings economic efficiency, economic proficiency, stability, and peace of mind – Part 1 March 6, 2023 In a two-part series, Dr Chris Kacher examines and explains how a decentralised world could work - part one is about the metaverse.
Car sales: Better deals and more availability have pushed numbers up with Vauxhall models most popular March 6, 2023 The number of newly registered vehicles rolled out on the UK’s roads continued to soar with car sales rising for the seventh consecutive month. According to figures published by the Society of Motor Manufacturers and Traders(SMMT) car registrations rose by 26.2 per cent in February as an easing of supply chain shortages steered the market [...]
Electric dreams: Is the government really prepared to save car industry after Britishvolt chaos? March 6, 2023 The collapse and revival of Britishvolt raises questions over how the government can revive the car industry - if it wants to.
EY to push ahead with mid-year promotions after KPMG calls off April round March 5, 2023 EY has said it is pushing ahead with this year’s round of mid-year promotions “as normal,” following reports that Big Four rival KPMG has called off its own round of April promotions. An EY spokesperson told City A.M. the “small number of mid-year promotions” it makes “every year” are “continuing as normal.” KPMG, by contrast, [...]