Government ‘did not act on warnings’ from pre-Covid pandemic simulations, says audit November 19, 2021 The government failed to act on warnings from pandemic simulations and was left unprepared for Covid-19, according to a new parliamentary audit. Findings from a National Audit Office (NAO) audit said the government needs to “strengthen national resilience to prepare for future risks of this scale”, after its previous emergency plans lacked key detail on [...]
Markets spit out Metro Bank as private equity giant Carlyle walks away from takeover talks November 18, 2021 US private equity giant Carlyle has walked away from talks to buy British high street lender Metro Bank, prompting markets to spit out the lender. Its shares plummeted over 19 per cent today. However, they are still above where they were before Metro Bank announced it was being courted by Carlyle. However, that take did [...]
High voltage: National Grid’s profits spark to life amid Europe’s energy crunch November 18, 2021 National Grid is benefitting from booming profits as the energy crisis continues to bite.
It’s happened: Global M&A hits all-time record of $5 trillion in 2021 November 18, 2021 Dealmaking has reached new heights this year, as the momentum seen each quarter continued unabated and propelled the global M&A market to a new all-time record of $5 trillion in deals – with still one month to go. As of yesterday, global transactions have topped $5 trillion so far this year – already 40 per [...]
Employers urged to stop asking jobseekers about their previous salary November 18, 2021 Employers are being urged to stop asking jobseekers about their previous salary amid concerns it is keeping women on lower wages and contributes to the gender pay gap. The Fawcett Society said asking about past salaries during recruitment was “pointless” because many people lied about what they previously earned. The campaign group warned that asking [...]
Fresh restrictions blanket new Covid epicentre – Europe November 18, 2021 Ireland has become the latest European country to impose fresh Covid-19 restrictions, as the continent becomes the epicentre of the pandemic. From today, the country’s population will work from home where possible, though universities will not sink back into online teaching. Hospitality has also been impacted, with bars and restaurants having been ordered to [...]
Sterling at highest point against the Euro in 21 months November 17, 2021 The pound is at its highest rate against the euro for nearly two years after data revealed UK inflation is at its highest rate for a decade. Interest rates surged to 4.2 per cent in the year to October, more than double the central bank’s target of two percent and the highest level since December [...]
House of Fraser flagship Oxford St store to shut as firm warns of ‘inevitable’ further closures November 17, 2021 The House of Fraser flagship store on Oxford St is set to permanently close, in another blow to the capital’s shopping district. Frasers Group said it had been served notice by the landlord to close the site, after an application for planning permission to redevelop the site was given the green light. A spokesperson for [...]
Swelling energy bills propel inflation to 4.2 per cent, more than double Bank of England’s target November 17, 2021 Swelling household energy bills have propelled inflation to more than double the Bank of England’s target, dialling up pressure on the Old Lady to act to hose down red-hot price rises. Inflation scaled to 4.2 per cent in October, up sharply from 3.1 per cent in the previous month, according to the Office for National [...]
Millions more Brits in debt as debt pile owed to HMRC balloons to £42bn November 17, 2021 Around 2.4m more taxpayers are in debt to HM Revenue and Customs (HMRC) as tax debt is at more than double its pre-pandemic levels, according to a spending watchdog. In fact, tax debt ballooned by £26bn between January 2020 and September of this year. Staffing levels at HMRC are unlikely to be enough to manage [...]