Brexit-proof: City remains top dog in Europe for financial services September 24, 2021 Innovation, an open business environment and a breadth of highly skilled talent has put the the City of London ahead of Europe’s financial services industry. London ranks as the second best financial hub in the world, while its closest rival in the continent is Paris, which only finished tenth, according to the 30th edition of [...]
High street dentists and pharmacies afflicted with Covid side effects September 24, 2021 High street dentists, opticians and independent pharmacies have been badly affected by the pandemic, a fresh report has revealed. In a report titled Small Business, The Big Picture, insurer AXA, said small and medium sized-retail businesses were in a strong position with hopes for a healthy recovery from lockdowns. However, health businesses have struggled with [...]
Planes, trains and automobiles – how is Europe’s transport sector curbing its emissions? September 24, 2021 Greenhouse gas emissions in the EU fell by 3.8% in 2019, according to the European Environment Agency, bringing them to 24.0% below the levels seen in 1990. However, the EU is targeting a 55% reduction by 2030 (compared to 1990) with the aim of reaching net zero by 2050. There is still a long way to [...]
IoD: Higher wages will stoke inflation September 24, 2021 The chief economist of the Institute of Directors (IoD) has predicted severe worker shortages plaguing the UK economy will trigger a sharp rise in prices. Kitty Ussher, chief economist at the IoD, told City A.M. she expects “a step-change in wage rates for high-demand skills that will put upward pressure on prices in the short-term.” [...]
Spectre of ‘stagflation’ looms over UK economy September 23, 2021 The UK economy is in real danger of undergoing a period of “stagflation” as prices soar and growth slows to a snail’s pace, according to a closely watched survey released today. The latest IHS Markit / CIPS UK composite output index dropped to 54.1 in September, down from August’s reading of 54.8. Chris Williamson, chief [...]
Bank of England’s reputation is at stake in the interest rate tragicomedy September 22, 2021 Misplaced expectations often lead to wasted time. Pip, Vladimir and Estragon waiting for Godot, and even England fans crying out for the arrival of Jack Grealish during Euro 2020. These stories teach us that banking on something to happen can lead to opportunities going amiss. The Bank of England could be lumped into that group [...]
Kwarteng hits out at energy companies ‘complaining’ about price cap September 22, 2021 Kwasi Kwarteng has launched an attack on energy companies calling for a lifting of the price cap so they can pass on soaring gas costs to consumers, saying that firms went into business with their “eyes open”. The business and energy secretary told MPs again today that he was committed to keeping the price control, [...]
Tech leaders can power a green future September 22, 2021 Experiences in digital era will guide them in climate transformation, says Danielle Ullner, Managing Director and Partner at BCG Digital Ventures in London. When BCG Digital Ventures was founded seven years ago, “digital” was still a daunting term for many corporate leaders. They had little concrete idea what digitalising their operations or launching entirely new [...]
Nation of entrepreneurs: UK home to more small businesses than any other country in Europe September 22, 2021 The number of small businesses has skyrocketed in the past year. With a wave of redundancies and furloughing alongside spending more time at home, people took the opportunity to set up their own small businesses. This has meant that the world has seen an increase in ‘micro enterprises’, businesses with less than 10 employees. To find out which countries [...]
Volatile equity market swells state-owned bank’s balance sheet September 22, 2021 A strong performing equity market amid pandemic-induced volatitlity swelled the state-owned development bank’s balance sheet. The British Business Bank (BBB) extended £89bn of loans to UK businesses last year, up £80bn from last year, as businesses scrambled for credit during the pandemic. The BBB extended just £8bn in loans before the pandemic, highlighting the scale [...]