University students to receive share of £50m funding amid Covid disruption to teaching February 2, 2021 Universities are set to receive an additional £50m to support financially struggling students amid mounting backlash over continuing fees during the pandemic. The new funding, which comes on top of a £20m package offered to disadvantaged students in December, follows a slew of rent strikes and protests from students. Many have asked for rent on [...]
Capco suffers £275m hit as lockdowns damage value of Covent Garden estate February 2, 2021 Property giant Capital & Counties has seen the value of its central London estate fall by around £275m in the second half of 2020, as the landlord was hit by Covid-19 lockdowns. Capco, which manages over 1 million sq ft of space in the West End, suffered a 27 per cent yearly drop in value [...]
FTSE opens up higher again in February rebound February 2, 2021 London’s main market opened up some 0.40 per cent higher this morning, continuing a positive start to the month after a volatile January. The FTSE 250, the second larger UK index, was up a similar 0.40 per cent, at 20,479. The rebound follows turbulence last week surrounding Gamestop and other companies targeted by both short-sellers [...]
Sadiq Khan: London needs post-war plan for Covid recovery February 1, 2021 A post-war-style programme is needed to breathe life back into London following the Covid-19 pandemic, mayor Sadiq Khan said today. The mayor said the government had to accept that London was the “country’s biggest asset”, adding that “ministers can’t take for granted that once restrictions are lifted things will simply return to normal”. He called [...]
Report calls on Government and FCA to ‘consider consequences’ for BoE boss Andrew Bailey over LCF collapse February 1, 2021 The Treasury and Financial Conduct Authority (FCA) must consider what action to take against Bank of England Governor Andrew Bailey and two officials over their handling of LCF, the author of a report about the collapsed fund told MPs today.
Exclusive: S&P Global lays off 700 staff following £33bn IHS takeover February 1, 2021 S&P Global Market Intelligence – the news and data division of credit ratings giant S&P Global – has laid off around 700 people in various offices around the world, including Canary Wharf, Hong Kong and New York City. City A.M. spoke with three London-based employees who confirmed that among the redundancies are S&P GMI’s consumer and [...]
Wall St follows FTSE higher as Reddit attention turns from Gamestop to silver February 1, 2021 Wall St follows FTSE higher as Reddit attention turns from Gamestop to silver
The likelihood of a bubble forming in financial markets February 1, 2021 Concerns are mounting as to whether financial markets may have entered bubble territory over the past few weeks. Some analysts are warning that instances of excessive behaviour have become apparent and more frequent. The usual key ingredients to form a bubble in financial markets include cheap credit or easy money and an enticing narrative, with [...]
The changing face of markets February 1, 2021 I see myself as a ‘global’ citizen that, through my work over the last 20+ years, has developed a deep experience of capital markets and exchanges. At the beginning of this century I was part of the creation of Euronext that resulted a few years later in leading its European cash market from Paris before [...]
Heathrow boss slams government’s ‘discriminatory’ airport support scheme January 30, 2021 The government’s financial support scheme for airports has today opened to applications but was swiftly slammed by Heathrow and fellow operators. Under the scheme, airports and baggage handlers can apply for up to £8m in business rates relief. Transport secretary Grant Shapps announced that the support was now available via Twitter. But the boss of [...]