In full: Rishi Sunak’s virtual Conservative conference speech October 5, 2020 Chancellor Rishi Sunak today addressed Conservative virtual conference, pledging to support entrepreneurs but warning of difficult times ahead. Here’s the full speech: “Politics is a team sport” “Being appointed Chancellor in February this year was an immense honour. Even though my first conference speech as Chancellor isn’t quite how I expected it to be, it [...]
High rents force three in four hospitality businesses to consider restructure or insolvency October 5, 2020 73% of London-based hospitality and leisure operators are considering a restructure or insolvency as a result of the economic impact of the ongoing pandemic. Advisory firm Cedar Dean, which surveyed 230 hospitality and leisure businesses with around 2,000 venues across the UK, found that rental obligations are currently the most pressing issue. 86% of London-based [...]
UK launches £238m Covid unemployment programme October 5, 2020 The government has today launched a £238m unemployment programme to provide skills and training to people who have lost their jobs during the Covid crisis. The Job Entry Targeted Support scheme will provide participants with CV and interview training, individual work coaches and “specialist advice on how people can move into growing sectors”, according to [...]
7,500 UK finance jobs shifted to EU since historic vote, as hard Brexit edges closer October 1, 2020 More than 7,500 UK finance jobs have headed for Europe since the 2016 EU referendum, with more relocations expected as City firms edge against a hard Brexit. In September alone, financial services firms moved more than 400 jobs to financial hubs across the EU, according to a new Ernst & Young report, published earlier this [...]
UK housing market continues strong recovery as prices surge September 30, 2020 UK house prices rose by five per cent in September compared with a year previous according to the latest data from Nationwide. The building society said the annual rate of growth was at its highest in four years as the post-lockdown recovery continued. Its lending data revealed that there had been a 0.9 per cent [...]
Measures to suppress Covid-19 are causing untold damage to students and young people September 30, 2020 The motto of the Young Money Blog is “don’t get mad — get informed”. But in recent weeks and months, I’ve found it hard not to get mad. As we try to head into an uncertain and bleak winter, emergency laws designed to curb the spread of Covid-19 are fast becoming a moral and economic [...]
More than 100 pubs and restaurants warn PM of ‘bleakest of winters’ without urgent support September 29, 2020 More than 100 hospitality firms, including JD Wetherspoon, Young’s and Cafe Nero, have written to the Prime Minister warning that many businesses will not survive “this bleakest of winters”, resulting in mass job losses, unless more is done to help the sector. In a letter to Boris Johnson, businesses such as Fuller’s, Greene King and [...]
EY employee warned of Wirecard fraud four years before German firm’s collapse September 29, 2020 EY was reportedly warned four years ago by one of its own employees that senior Wirecard employees had potentially committed fraud and one had attempted to bribe an auditor. The auditor will face additional pressure following the revelation that a member of staff reported suspicious activity at the German payment firm four years before it [...]
CryptoAM.io goes DeDays and together create “The Mallorca Roundtable” September 29, 2020 Over the course of the past nine months, we have seen many things grow: fear, uncertainty, doubt and the number of bankruptcies, especially in hospitality. I myself was impacted by this loss in business and am still working on saving the remains of a great idea that was the Craft Coin Company which still holds [...]
Lockdown entrepreneurs given chance to secure West End retail space September 29, 2020 Entrepreneurs that have established new brands during the UK coronavirus lockdown could secure physical retail space in the West End through a pop-up incubator initiative. West End landlord Shaftesbury has launched a scheme to offer retailers the chance to operate from a pop-up store in Seven Dials in a bid to support new businesses. The [...]