Sunak set to hike long-haul flight costs through air passenger duty Budget ‘overhaul’ October 23, 2021 Chancellor Rishi Sunak is plotting an air passenger duty hike for flights to long-haul destinations like Australia, Japan and South Africa in his Autumn Budget next week, as a penalty for their environmental damage. Passengers flying to such destinations can expect to pay more after the Chancellor has laid out his plans next week for [...]
Sterling fares well following PMI surprise despite retail sales fall October 22, 2021 This morning’s UK retail sales figures showed a monthly decline of 0.2 per cent in September, while the market had been anticipating a rise of 0.6 per cent. Meanwhile, sales were down 1.3 per cent compared to September last year, yet the consensus forecast was for a decline of 0.4 per cent. It was the [...]
PMI: UK private sector grows at fastest pace in three months October 22, 2021 Growth in the UK’s private sector has grown at the fastest pace in three months, according to a closely-watched survey. The IHS Markit/CIPS flash UK composite PMI report came in at 57.7 more than halfway through October, up from last month’s 54.1 at the same period. Scores above 50 represent growth, while anything below that [...]
Holiday Inn owner reports trade improvement as travel returns October 22, 2021 Crowne Plaza owner InterContinental Hotels Group (IHG) has said it has achieved an average daily rate in line with pre-pandemic levels. In a third quarter trading update, it said it had achieved occupancy of around 60 per cent. It reported revenue per available room (RevPAR) was down 21 per cent on 2019. It was up [...]
COP26: Three-year green savings bonds launched by Treasury-backed NS&I October 22, 2021 Green savings bonds giving savers across the UK the chance to back the Government’s environmental projects are being made available to take out online. Savers aged 16 or over can take out the bonds, which pay a fixed annual rate of 0.65% over a three-year term, via Treasury-backed savings provider NS&I’s website. The bonds, unveiled [...]
Editorial: Beware our drift into a high-tax economy October 22, 2021 Over the past few years, Emmanuel Macron and other French leaders have gone to great lengths to tempt international businesses across the channel onto French soil. This has verged from the sublime (investment dinners at Versailles) to the ridiculous (adverts from ‘The Normandy Times’ in British papers looking for ‘hot entrepreneurs… allergic to post-Brexit tariffs). [...]
Greengage looking to be first merchant bank for the digital finance sector October 21, 2021 CEO Sean Kiernan explains how Greengage bridges traditional fiat currency banking and trading with the emerging digital asset and cryptocurrency sector.
St. James’s Place inflows swell more than £1bn October 21, 2021 Increased savings rates and improving consumer confidence swelled inflows into wealth manager St. James’s Place over the last quarter. The FTSE 100 listed firm registered a more than £1bn uptick in net inflows in the third quarter compared to the same period last year. Net inflows, which tracks the amount of money flowing into and [...]
Not just NatWest: Compliance guru on why money laundering is rampant in the City October 21, 2021 Over the past few decades, money laundering has become an increasingly prevalent issue. Financial institutions are constantly looking for new ways to fight money launderers, and several anti-money laundering policies have been put in place to help this effort. However, the recent case against NatWest sent shockwaves through the City, with many financial institutions realising that the financial watchdog, [...]
As footfall in the City climbs, widespread concerns about productivity take hold October 21, 2021 As footfall in the City of London hit 39 per cent of pre-pandemic levels last month, its highest rate since early 2020, new findings reveal widespread concern about productivity as hybrid working models set in post-pandemic. The findings show that over half (51 per cent) of UK business decision makers are worried about productivity in the [...]