Budget sparks 13 per cent jump in business insolvencies December 17, 2024 The number of business insolvencies in England and Wales rose 13 per cent in November, as the impact of the Budget continues to hit firms hard. Experts have also warned that things are not going to get better, with April’s looming Employers’ National Insurance increase leaving firms in a “perilous position”. Nearly 2,000 firms went [...]
Exclusive Neil Woodford interview: who he blames for his fund’s collapse December 17, 2024 In his first interview in years, former star manager Neil Woodford makes it clear where he believes the blame for his collapsed fund lies.
London’s flexible office workers shift to four days a week December 16, 2024 Workers in London’s flexible office space have increased the number of days at their desk, despite sentiment that Londoners were unlikely to return to pre-covid working patterns. Three quarters of workers in flexible offices now use the working space at least four days a week, according to fresh data from Knight Frank. This comes amid [...]
Persimmon boss warns triple Budget hit will add billions for housebuilders December 16, 2024 Persimmon chief executive Dean Finch has warned that higher costs from new levies will add around £40m in annual costs and add “billions” in expenses across the housebuilding sector. He claimed that the taxes would hurt the government’s ambitious target of building 1.5m homes by 2029, telling The Times that there was a “disconnect” between [...]
Ageas to acquire part of Saga’s insurance business in 20-year deal December 16, 2024 Saga, the financial services and travel provider for over-50s, has begun a 20-year partnership for motor and home insurance with Belgian insurance giant Ageas. Ageas’ UK arm will take over Saga’s price-comparison website, pricing, claims and customer service activities, while Saga will hold onto brand and direct marketing. Under the terms of the deal, Saga [...]
‘Hammer blow’: Family firms call for inheritance tax consultation December 16, 2024 Family businesses are urging the government to consult on changes to inheritance tax (IHT), warning the move represents a “hammer blow” to the UK economy. Some 160,000 family-owned firms – represented by 32 trade associations – have written to Chancellor Rachel Reeves to request a formal consultation on IHT changes in the Budget. The letter, [...]
Innovation, sustainability, trade: why London is the financial centre the world needs December 16, 2024 With global challenges mounting, London must prioritise innovation, sustainability, and trade to safeguard its future as the world’s leading financial centre — for the benefit of all, writes Chris Hayward. The financial services sector is at a crossroads. Emerging technologies are redefining how businesses and consumers interact, the drive toward net zero demands urgent action and [...]
Talktalk to axe hundreds of jobs in latest cost-cutting drive December 15, 2024 Talktalk is set to cut hundreds of jobs as it looks to boost its balance sheet after narrowly avoiding collapse earlier this year. The telecoms giant, which had 1,857 employees at the end of February, outlined plans to cut the roles in the “radical” restructuring in an update last week, according to The Telegraph. The [...]
A requiem for UK equity capital markets December 14, 2024 London’s storied status as a global financial powerhouse is slipping away, and with every IPO that doesn’t materialise or company that decamps to the US, it becomes clearer that the City is in its death throes, says Owen Matthews As a former mid-cap ECM investment banker, I’ve watched with despair as the lights dim on [...]
1 Undershaft: City approves Square Mile’s tallest tower December 13, 2024 The City of London has approved the planning application of 1 Undershaft, which upon completion, will be the tallest tower in the City while matching the Shard