PwC UK orders staff to spend more time in office and meet clients in person September 5, 2024 PwC UK has ordered staff to spend more time in the office and meet clients in person, as the accounting giant becomes the latest firm to adopt tighter rules on working from home. The Big Four firm told its employees and partners on Thursday that its new hybrid working policy would require them to spend [...]
Reeves is right to squeeze private equity – but a sweeping capital gains hike will hurt the City, says Cavendish chair September 5, 2024 The government is right to launch a raid on the profits made by private equity bosses but a sweeping hike in capital gains and inheritance tax could suck investment out of the City, the chair of investment bank Cavendish has warned. Lisa Gordon, who chairs the London-listed broking group, urged Rachel Reeves to be “more [...]
Lloyd’s of London reports ‘superb’ first half but warns of digitisation delays September 5, 2024 Lloyd’s of London, the storied insurance market and one of the world’s largest providers of reinsurance, has reported a jump in profit today but warned its landmark digitisation project was taking “longer than expected”. Lloyd’s reported an overall profit before tax of £4.9bn in the first half of 2024, up from the figure of £3.9bn [...]
Ed Warner: My trip to the Paralympics taught me that sport is bad for your health September 5, 2024 Our sport business columnist on the danger of watching the Paralympics, dynamic pricing, election season in Olympic land, and Scotland’s Commonwealth Games dilemma. Watching sport is bad for your health. Or can be. I’m glad I wasn’t strapped to a heart-rate monitor during the wheelchair rugby in Paris over the past week or I would [...]
Mark Kleinman: Concorde successor’s failure risks chain Reaction September 5, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the City talking in his weekly City A.M. column. This week he tackles Reaction Engines, PRS REIT and EMK Capital Concorde successor’s failure risks chain Reaction What about this for an adverse Reaction? Two leading City fund managers – Artemis and Schroders [...]
UK unlikely to move into ‘fast lane’ despite surprisingly strong growth this year September 5, 2024 The British Chambers of Commerce (BCC) has lifted its growth forecasts for the economy this year, but remained doubtful that the UK would move into the “fast lane” any time soon. The business group’s latest quarterly projections suggest the UK will grow 1.1 per cent this year, an upgrade on its previous estimate of 0.8 [...]
How brickies built the UK’s fastest growing radio broadcaster September 5, 2024 Video may have killed the radio star, but builders are bringing it back. Fix Radio CEO Louis Timpany tells City A.M. how he built the UK’s fastest growing national broadcaster.
Amazon announces pay rise for its operational employees September 4, 2024 Online giant Amazon has announced a pay rise for its operational staff. The minimum starting pay for frontline operations employees will increase to between £13.50 and £14.50 an hour, depending on location. For those with 36 months’ service, the increase will be to between £13.75 and £14.75 an hour. Amazon said the increase was worth at least 9.8 [...]
Fresh calls to fund TfL as more busted London Underground trains taken out of service September 4, 2024 City groups have launched fresh calls for a long-term Transport for London (TfL) funding deal, after new data revealed a more than doubling in the rate faulty London Underground trains are being taken out of service. Data obtained via a Freedom of Information request shows the out of service rate across the London Underground, which [...]
Are the super-rich running out of road? September 4, 2024 As more western governments look at ways to increase taxes for the ultra-rich, Ali Lyon asks whether it will work