Staggering 60 per cent of UK employees plan to find new job in 2022 with salary not the most important driver December 29, 2021 The so-called Great Resignation is set to continue into 2022, with a staggering 60 per cent of employees planning to leave their jobs in the next 12 months, according to a new survey shared with City A.M. This is largely a result of over 80 per cent of UK employees feeling less connected to their [...]
PwC boss warns ‘negativity’ about audit industry will put off new recruits December 29, 2021 The UK head of PwC has warned that continued criticism by politicians and industry watchdogs will damage the audit sector, according to reports. Kevin Ellis, UK chair and senior partner at PwC, said the reputational harm would make it harder to attract and retain auditors, making it more likely for the audit giant to look [...]
Capital raising in the City picks up despite ongoing Covid disruption as listed firms pull in close to £25bn this year December 29, 2021 UK listed companies have raised more than £12bn in new capital from investors in the second half of the year, bringing the total so far for 2021 between January and November to £24.7bn, according to data shared with City A.M. This represents the second highest total since 2009, following on from 2020 when £34.4bn was [...]
The mining industry enters its most important decade with all eyes on Saudi Arabia in 2022 December 28, 2021 The international mining industry is facing arguably “its most important decade” as the world starts the transition from fossil fuels to renewable energy, the CEO of the International Council on Mining and Metals (ICMM), Rohitesh Dhawan, said in an interview earlier this month. Dhawan emphasized that mining will be at the very center of this transition because [...]
2021: Best year ever for UK tech sector with £26bn in VC, 116 unicorns, record London listings and more jobs December 28, 2021 The UK tech sector looks back on its best year ever, raking in £26bn in venture capital, record London listings, more jobs and the number of British unicorns climbing to 116. Success feeds cities outside London as Cambridge has become the leading regional tech city in the UK thanks to its combination of high levels [...]
Just days until LIBOR switch to SONIA: FCA measures likely to postpone potential wave of litigation, for now December 28, 2021 With the deadline for banks to stop using LIBOR as an interest rate benchmark just a few days away, new measures taken by the Financial Conduct Authority (FCA) mean a possible wave of litigation will likely be avoided for now, though it could be “a problem postponed, rather than solved”, a leading Square Mile lawyer [...]
Government under fire for splashing out tens of millions on rental cars at home and around the world December 28, 2021 The government has come under fire after it has emerged that the Ministry of Defence and a range of other departments spent millions on hire cars for staff. The Ministry of Defence alone splashes almost £13m, a Freedom of Information (FoI) request showed. Also, the Department for Transport spent more than £1.1m in the year [...]
Coronavirus D-Day as Boris Johnson holds emergency meeting to weigh fresh Covid restrictions or even new lockdown December 27, 2021 England is heading for a decisive afternoon as the Prime Minister will hold a crucial meeting later today to assess whether new or additional Coronavirus restrictions are needed to slow the rapid rise in infections as a result of the Omicron variant. Boris Johnson is due to be presented with the latest Covid data today [...]
2021 in review: Furlough is government’s big success story, but Rishi Sunak’s £69bn lifesaver comes at a price December 27, 2021 Furlough has become a household word in recent years. The scheme that protected the jobs of nearly nine million Britons at its peak has been hailed as the big success story of the Government’s Covid support measures as the jobs market rebounds at an impressive pace. The warnings of soaring joblessness that struck fear into [...]
UK to hold platinum party of the century for the Queen this June: Bigger and bolder than Victoria’s Diamond Jubilee in 1897 December 26, 2021 Britain is planning one of its biggest celebrations ever as new government plans will allow pubs, clubs and bars to stay open into the early hours over next year’s bank holiday weekend to mark the Queen’s Platinum Jubilee. Venues across England and Wales would be able to continue serving customers for an extra two hours [...]