Suez Canal hikes tolls during ports crisis to capitalise on booming cargo trade November 5, 2021 Transit tolls in the Suez Canal are rising by six per cent next year for nearly all ships, despite the waterway reporting record revenues of $5.8 billion during the pandemic. The Suez Canal Authority is now looking to harness a booming cargo trade, with global trade traffic set to increase by nearly seven per cent [...]
Editorial: Bank marched markets up the hill – it can’t be angry they were disappointed they were told to go back November 4, 2021 Bank of England governors have a recent history of not always delivering it comes to guidance. Famously, former Bank chief Mark Carney was labelled an “unreliable boyfriend” for routinely failing to deliver on his words. Current boss Andrew Bailey seems to be eyeing up Carney’s crown after the Bank yesterday decided to hold rates at [...]
Antonio Horta-Osorio gives Credit Suisse prime broking the chop after $5bn losses November 4, 2021 Horta-Osorio, who joined Credit Suisse from Lloyds in April, has revealed sweeping plans to restructure the beleaguered lender and dramatically pare back its investment bank activities after it suffered multibillion losses this year. Under the new strategy announced today, Credit Suisse will rein in its investment bank and focus on its wealth management division, in [...]
Estate agent Purplebricks shares topple after drop in supply November 4, 2021 Online estate agent Purplebricks’ shares plummeted following a trading update highlighting a drop in supply in the market. In an update on Thursday, the estate agent said for the six months ended October 31, the market had been “challenging.” Its share price dropped more than 35 per cent on Thursday morning. “New instructions have slowed [...]
New data: Only 3 per cent of furloughed workers made redundant as scheme comes to an end November 4, 2021 Only 3 per cent of those workers still on furlough as the scheme came to an end were made permanently redundant, according to new official statistics. The furlough scheme came to an end at the start of October, with 16 per cent of businesses still actively using it. Two-thirds of those still on the scheme [...]
Boris’ tax mania could push British business into Labour’s open arms November 3, 2021 An exec recently recalled a meeting between banking bosses and ex-Shadow Chancellor John McDonnell when it looked like Labour may just seize power. As the suits traipsed into a room the Marxist quipped: “Don’t worry. We’re not sending you to a re-education centre in Doncaster … yet.” He also promised to whack corporation tax up [...]
Promoting ESG to align the insurance industry to new stakeholder demands November 2, 2021 The global re/insurance industry faces both asset and liability exposure to the climate crisis, as well as opportunities to drive meaningful progress towards global resilience. As a result, insurance and reinsurance are crucial elements in a successful and inclusive transition to a green economy, helping clients to implement ESG mandates, as well as focusing on [...]
THG shares hit record rock bottom after Blackrock sheds half its stake November 2, 2021 Shares in THG have plunged to an all-time low this morning on the news that its largest institutional shareholder Blackrock sold half of its stake in the ecommerce group after a tumultuous month. Blackrock has sold 58m shares in THG at a price of 195p each, valuing the deal at £113.1m, according to its bookrunner [...]
Small businesses look to COP26 for fiscal support in the great sustainability push November 2, 2021 Small businesses are hoping COP26 will unlock more financial support and policy to help them become more sustainable, according to a new report from the Federation of Small Business (FSB). The majority of small and medium sized enterprises (SMEs) are concerned about climate change, but just one in three have a plan in place to [...]
Interview: Mike Adams, CEO of Purple, on changing the disability conversation November 1, 2021 Mike Adams, CEO of Purple, shares with Lysanne Currie his mission to change the disability conversation from disadvantage and inequality to one about potential and value. This article first appeared in ICAS’ CA magazine. Mike Adams has a useful exercise for leaders to try with their own company website. He calls it the no-mouse test. When [...]