SSE defends renewables plan after activist calls for governance changes December 7, 2021 SSE has hit back at continued criticism from activist investor Elliott Management (Elliott) over its renewables plans.
Paragon Banking Group reports record full year profits on lending surge December 7, 2021 Challenger bank Paragon Banking Group has reported “outstanding” full year performance as lending volumes across the business swelled above pre-pandemic levels. “We have delivered an outstanding performance in 2021, which is testament to the strength of our operating model, the quality of our customer base and the capability and adaptability of our people,” chief executive [...]
The City View: December 6: Inflation, Labour’s pro-business push and flooding risks December 6, 2021 Today Andy Silvester looks at a warning from a top Bank of England rate-setter, news from the digital ads market, Chinese property firm Evergrande’s latest struggles against its debt burden and more news on the new Covid variant. Andy is also joined by Sascha O’Sullivan and Elena Siniscalco, who offer their views on politics, Keir’s [...]
HMRC: We are ‘actively challenging’ multinationals on tax with additional £94bn raked in during last decade December 6, 2021 HMRC told City A.M. this afternoon that it is “very actively challenging” multinationals when it comes to tax as the taxman secured £94bn in additional revenue from large businesses in the last decade. HMRC was responding to claims that big businesses’ underpaid tax has risen by another £1bn in a year to £35.8bn, up from £34.8bn [...]
UK tax revenues nosedive by £33bn but pandemic impact less pronounced than previous crises December 6, 2021 Total tax revenues across the UK dropped by £33.4bn last year, according to the annual revenue statistical release from the Organisation for Economic Co-operation and Development (OECD). The OECD say that the impact of the Covid-19 pandemic on tax revenues was less pronounced than during previous crises, in part, due to government support measures introduced to [...]
Covid vaccines mandatory for New York private sector workers December 6, 2021 New York's Mayor Bill de Blasio has issued a sweeping mandate requiring all private sector workers to receive the Covid-19 vaccine.
We’re taking fewer flights – now’s the time to bring back aviation’s glamour December 6, 2021 If you’ve tried going abroad lately, you will know that the process has changed drastically. Gone is the relative ease of perusing a travel site and booking your flights, your main concern being whether you’d remembered to pack your passport. Travelling in the age of Covid is dogged with confusing new lingo and a protocol [...]
HGV driver shortages showing signs of recovery, logistics group says December 6, 2021 HGV driver shortages are now showing small signs of recovery, according to British trade body Logistics UK. In a report published today, Logistics UK outlined the rate at which people are leaving the industry has slowed down, with the percentage of HGV drivers leaving the workforce going from 23.4 per cent in the second quarter [...]
China central bank slashes reserve requirement to boost struggling businesses December 6, 2021 China’s central bank has slashed the amount of money the country’s lenders need to hold in reserves. The move to loosen the reserve regime by the People’s Bank of China (PBOC) is being seen as a bid to stimulate the country’s economy by incentivising banks to lend. The required reserve ratio (RRR) has been cut [...]
Blackrock and Vanguard rake in billions: Omicron variant makes Moderna and Pfizer shareholders more than $10bn December 6, 2021 Big pharma executives and shareholders saw their wealth skyrocket in the week after the Omicron variant was discovered, with eight top Pfizer and Moderna shareholders making a combined $10.3bn. Campaigners have accused pharma executives of “making a killing from a crisis they helped to create”, blaming “grotesque” levels of vaccine inequality for creating the conditions [...]