Ground breaking scheme rating COVID-19 safety expanded to all City businesses June 24, 2021 A pioneering scheme assessing business’ COVID-19 safety measures has been expanded to cover all City companies. The accreditation scheme, which was set up in September last year as a pilot, was the first of its kind launched by a UK governing body. Following its initial success, it was relaunched in April, to promote public confidence in [...]
Advertisers ‘dismayed’ as UK pushes ahead with junk food ad ban June 24, 2021 The UK advertising industry has reacted with fury after the government confirmed it will push ahead with a ban on junk food adverts. Adverts for foods high in fat, salt and sugar (HFSS) will be banned on TV before 9pm while tighter restrictions will be placed on online promotions under new rules set to come [...]
Exclusive: CEO of Britain’s newest bank on the long road to recovery June 23, 2021 The pandemic forced the entire economy to move online, with Zoom and Skype usage skyrocketing. London’s financial services space was no exception, leading to a vast uptake in online banking services. One online lender that obtained its UK banking licence in June of last year, at the height of the pandemic, is Zopa, bringing a [...]
Nasdaq hits record high as Wall Street rally continues June 23, 2021 US stocks rose today as the Nasdaq hit a record high after Fed officials calmed fears of a sharp tapering of monetary stimulus. The Dow Jones Industrial Average and the benchmark S&P 500 both gained 0.1 per cent at the open. Meanwhile, the tech-heavy Nasdaq advanced by 0.2 per cent to open at a record [...]
Could global growth this year be the fastest this century? June 23, 2021 The world economy is set for its fastest year of growth in the 21st century this year, according to our latest forecasts. We now think global GDP is set to expand by 5.9 per cent in 2021, having upgraded our previous forecast of 5.3 per cent. As lockdowns ease, the service sector – which includes businesses [...]
UK PMIs: Business continues to expand at rapid pace in June June 23, 2021 UK business activity continued its rapid growth in June as the post-Covid reopening boom continued apace, new figures today suggested. A flash reading of the IHS Markit Composite PMI, which combines services and manufacturing, came in at 61.7, down from 62.9 in May. Any score above 50 indicates growth. Despite the continued expansion, today’s readings [...]
Marlowe boosts annual profit by a third as acquisition spree continues June 23, 2021 Specialist health and safety firm Marlowe saw its annual pre-tax profit jump 31 per cent to £17.1m as a flurry of acquisitions deepened its presence in the market. Marlowe also pushed its revenue up by 15 per cent to £192m, as well as boosting its net cash before acquisition and restructuring costs to £28.3m. The [...]
BoE appoints former Citibank economist Catherine Mann to rate-setting panel June 22, 2021 Britain’s finance ministry has today named former Citibank economist Catherine Mann as the newest member of the Bank of England’s Monetary Policy Committee (MPC). Mann’s three-year stint on the nine-member panel, which sets interest rates and oversees the BoE’s £895bn bond-buying programme, will replace Gertjan Vlieghe on 1 September, who is stepping down after six [...]
Soaring house prices and stock markets push wealth per adult to record £57,598 June 22, 2021 Despite the pandemic impact on economies around the world, global household wealth hit a new record last year, primarily due to soaring house prices and rebounding stock markets. The latest global wealth report by investment giant Credit Suisse showed today that wealth per adult rose 6 per cent last year, to hit a record £57,598. [...]
Tory central London MP calls for fresh package to support the West End June 22, 2021 A Conservative central London Tory MP is today calling for a fresh package of economic support to help the capital’s post-Covid economic recovery, with specific measures for the West End. Cities of London and Westminster MP Nickie Aiken today used a 30-minute parliamentary debate today to call for a removal of the £2m business rates [...]