How London could become a 15-minute city, without leaving its centre behind November 1, 2022 It was 2020, and Anne Hidalgo, the mayor of Paris, was launching her re-election campaign. Paris was “capable of inventing a new history without forgetting its past”, she said back then, while introducing the concept of the “15-minute city”. Fast forward two years, and Hidalgo is still the mayor of an increasingly green, accessible Paris. [...]
London-based FX experts Lumon post annual growth of almost 30 per cent despite volatility October 31, 2022 A year after its rebrand, London-based payments group Lumon posted annual growth of almost 30 per cent, with its corporate division excelling. The company announced its revenue forecast for the year has gone up by 27 per cent from 2021. Its corporate division expanded over the year, up 48 per cent year on year. It [...]
Eurozone inflation breaches forecasts to hit record 10.7 per cent October 31, 2022 Eurozone inflation has surged past expectations to 10.7 per cent this month in a further sign the European Central Bank (ECB) will have to keep heaping misery on businesses and households to tame prices. Prices continued to climb rapidly in all the bloc’s major economies, signalling the effects of the ECB’s pivot from years of [...]
Collapse of landmark tax deal could result in trade wars, OECD tax chief warns October 31, 2022 The US and Europe risk reigniting trade wars and losing hundreds of billions in tax revenue if they fail to implement the major global tax deal agreed to last year, the OECD’s departing tax chief has warned. The landmark tax deal, which ensure major multinational corporations with annual revenues of more than €750m (£643m) are [...]
City in shock as £1.3 trillion is wiped off value of UK bonds in record sell-off October 31, 2022 More than £1.3 trillion has been wiped off the value of UK bonds since the start of 2022 following a major sell-off across bond markets, according to new figures. Just over £882bn has been wiped off the value of Gilts and Index-linked Gilts, which have fallen 26.4 per cent and 36.2 per cent respectively in [...]
The new government must combine growth with stability, betting big on our trade links October 31, 2022 Now that the turmoil in Westminster has abated, households and businesses across the UK will be hoping that the era of Rishi Sunak’s government will be slightly duller than what preceded it. Stability is an asset that has traditionally underpinned our international attractiveness and competitiveness. It is a cornerstone of the UK’s appeal across the [...]
London’s businesses need more affordable housing for their young staff October 31, 2022 Few of Britain’s problems could not be solved by putting shovels into the ground. Nowhere is that more true than when it comes to housing – a shortage that could, if left unchecked, become a brake on the entire country’s economic growth. On our front page today we report on a potential fall in London [...]
Difficult decision to come from Sunak and Hunt on bank surcharge October 30, 2022 The government has not ruled out reversing a tax cut on the UK’s biggest banks as it scrambles to overfill a huge hole in the public finances. Asked today by City A.M. if chancellor Jeremy Hunt and prime minister Rishi Sunak would commit to cutting the bank surcharge, an effective windfall tax, the Treasury said [...]
Mayor meets with neurodiversity campaigners in bid to make capital world-leader October 29, 2022 London Mayor Sadiq Khan has met with leaders of a campaign to encourage more neurodiversity in the business world. The term is a relatively new one but encompasses individuals with conditions including autism, ADHD, dyslexia and dyspraxia amongst others. Dan Harris, the CEO of Neurodiversity in Business (NiB), told City A.M. that whilst individuals “may [...]
‘Quicker and easier’ journeys at Bank as TfL unveils new interchange route October 28, 2022 TfL has unveiled a new interchange route at Bank station, which is set to make journeys “quicker and easier” for thousands of commuters walking between the Northern and Central lines. The public body has added two new 100-metre moving walkways and three new escalators just two weeks after unveiling more escalators between the Northern line [...]