Small businesses will drive recovery if they can access the right finance July 22, 2021 Having reached ‘Freedom Day’ this week, it would be gratifying to think that the small businesses that power our economies in the UK are on the path to a sound trading recovery. Economic indicators, including our own Global Economic Conditions Survey for the last three months, are reporting a strong rebound in the UK economy [...]
Six million SMEs risk ‘being forgotten’ in net zero transition, banks warn July 22, 2021 The UK’s six million small and medium-sized enterprises (SMEs) could be “forgotten or left behind” in the country’s net zero transition, warns Bankers for Net Zero in a report. The initiative – supported by Barclays, Handelsbanken, Triodos, Ecology Building Society, ClearBank and Tide – argues that measures need to be implemented to avoid leaving SMEs unprepared [...]
Covid lockdowns cost UK creative industries £12bn July 21, 2021 Repeated coronavirus lockdowns have cost the UK’s creative industries an estimated £12bn and more than 110,000 jobs, new figures have revealed. Data released today by Oxford Economics showed businesses in the creative sector generated around £104bn in gross value added value in 2020, down from £116bn the previous year. This was also well below the [...]
Become your own bank: Crypto and self-sovereignty July 21, 2021 Financial experts with Zumo explain the concept of self-sovereignty and how to be your own bank.
“DO sweat the small stuff”: how ESG missteps impact future performance July 21, 2021 We’ve written extensively on our concept of “corporate karma” – the idea that what goes around, comes around with regard to how companies treat their stakeholders. Since the start of the pandemic, we’ve written about our belief that a new social contract is emerging, particularly in relation to how employers treat their employees, and we’ve shown how it’s [...]
Covid: Government borrowing falls in June July 21, 2021 Government borrowing fell over the last month as the UK economy rapidly rebounds from the damage inflicted on it by Covid, new figures released today show. The government borrowed £22.8bn last month, the second-highest figure for June since records began, according to the Office for National Statistics. However, borrowing eased from May, down from £24.3bn [...]
Law firm DWF reports strong year with revenue over £400m July 21, 2021 DWF Group, the international legal firm, has reported a rise in its revenues to £400m, in its full year results released today. Revenue rose to £401m for the year ended 30 April 2021, representing a 12 per cent increase from £357m in the previous year. Net revenue also grew by 14 per cent to £338.1m. DWF’s [...]
UK worker shortages mount as applicants tumble 24 per cent July 21, 2021 Worker shortages in the UK continues to intensify despite firms stepping up efforts to hire talent, according to new figures published today. Research by Broadbean Technology, the world’s largest network of job boards, shows job application in the UK fell 24 per cent between May and June of this year. However, vaccines were up 10 [...]
‘I told staff to delete the app’: Hospitality reacts to pingdemic crisis July 20, 2021 While the government was hailing the arrival of so-called “freedom day” yesterday, the threat of rising Covid cases and the “pingdemic” forcing staff to self isolate has left the beleaguered hospitality industry with little to celebrate. One restaurateur told City A.M: “Our ability to operate hangs in the balance by some fairly crude geolocation tech”, [...]
Clifford Chance report record revenue and profits in sixth consecutive year of growth July 20, 2021 Law firm Clifford Chance announces its sixth consecutive year of profit and revenue growth despite the pandemic. For the year ended 30 April Clifford Chance saw its revenue rise to £1.8bn, though by a marginal rate of one per cent compared to the previous financial year. Its profit per equity partner increased by nine per [...]