Exclusive: UK fraud is big business at £52bn each year, says financial crime guru September 15, 2021 Financial crime, fraud and hacking soared during the pandemic as criminals took advantage of behavioural changes during three strict lockdowns. In fact, fraud and cybercrime jumped by nearly a third in the last twelve months. Time for City A.M. to catch up with financial crime guru Richard Wood, a former Morgan Stanley fraud manager who [...]
UK inflation soars to 3.2 per cent in record jump September 15, 2021 Inflation rose at the fastest rate since records began last month, new data showed today, though economists warned the jump was likely to be temporary. The Consumer Prices Index rose 3.2 per cent in August, up from 2.0 per cent in July, the single biggest one-month jump since the ONS began publishing the data in [...]
Cash strapped Chinese property giant Evergrande battles $300bn in liabilities September 14, 2021 Chinese property giant Evergrande has admitted it is under “tremendous pressure” not even a year after its $1.8bn Hong Kong stock exchange float. The beleaguered firm is battling more than $300bn in liabilities, following years of borrowing to fund its rapid expansion. The property group achieved the lower end of expectations, raising $1.8bn from the [...]
Covid-19: Government aims to avoid winter restrictions with booster jabs and teenage vaccinations September 14, 2021 Health Secretary Sajid Javid has said Government intends to avoid a return to Covid-19 restrictions through booster jabs and vaccinations of 12 to 15-year-olds, as he set out an autumn and winter pandemic plan. The Health Secretary said ‘Plan A’ is a series of pharmaceutical interventions, with the objective of avoiding “unsustainable pressure” on the [...]
UK unemployment rate falls amid August hiring spree September 14, 2021 The UK unemployment rate fell 0.3 per cent in the last quarter as businesses continued on a hiring spree to keep pace with the economic recovery from the pandemic. According to the Office of National Statistics, the unemployment rate now stands at 4.6 per cent, in line with economists’ forecasts. The fall was powered by [...]
Flight to cities to boost London businesses’ profitability September 13, 2021 Changes to working patterns and companies flocking to cities as the spectre of Covid recedes will boost London businesses’ profitability, according to fresh analysis published today. Research conducted by accountancy firm KPMG shows an influx of new, fast growing businesses into the capital will drive productivity and overall profitability levels up in London. Office occupancy [...]
CBI warns of rising taxes and stagnant business investment under Boris Johnson September 13, 2021 One of the UK’s most influential business groups has cautioned Boris Johnson about recent tax rises, warning that he must concentrate more on stoking business investment post-Covid. CBI director-general Tony Danker will tomorrow tell the Alliance Manchester Business School that a “return to business as usual in our economic policy, at this unique moment in [...]
Mandatory Covid vaccine passports for night clubs and events scrapped September 12, 2021 Sajid Javid has announced the government will not be moving forward with plans to implement mandatory vaccine passports for night clubs and large-scale events. The measure will be scrapped, after two weeks of assurances from Number 10 and ministers that they would still be brought in at the end of this month. Boris Johnson originally [...]
UK set to see a sharp slowdown in economic growth, warns British Chambers of Commerce September 10, 2021 The UK is set to see a sharp slowdown in economic growth as the mounting supply chain crisis and staff shortages threaten to derail Britain’s recovery, according to a major business group. The British Chambers of Commerce (BCC) warned there is also a “real danger” the Government’s health and social care levy could further stifle [...]
Exclusive: Real estate and crypto top list of UK investors’ alternative asset picks September 9, 2021 In the current climate of low interest rates and high valuations, UK investors are looking for new ways to get returns in less liquid areas that are relatively cushioned from yo-yoing equity and bond markets. This mood music has pushed almost half (43 per cent) of UK investors to consider alternative assets to make their [...]