Who wants to be a trillionaire? Musk in the race as Tesla profits hit record October 21, 2021 Morgan Stanley analysts believe Tesla’s founder and chief executive Elon Musk could become the world’s first trillionaire after the company’s results hit records, the Telegraph reported. The company’s revenues jumped 57 per cent to $13.7bn, with an operating income of $2bn and a 30 per cent increase in automotive gross margin while its shares more [...]
UK consumers are more worried about climate change than Covid, as COP26 nears October 21, 2021 Climate change is a bigger concern for UK consumers than the Covid-19 pandemic and or the economy. SEC Newgate ESG Monitor has published a research study of public attitudes to environmental, social and governance (ESG) principles, revealing that 71 per cent of British people are concerned about climate change. The percentage of people that put [...]
Ethics – the foundation for a better world October 21, 2021 This week has been a special one for us at ACCA. Wednesday was Global Ethics Day – an important occasion in the calendar that we celebrate annually as it aligns with our values. It’s a day where businesses and individuals can reflect and explore the meaning of ethics and their impact on life and society. [...]
Venture capital firms circle London tech scale-ups as financial injections hit record £20bn October 21, 2021 A record high of over £6.5bn was invested by venture capital firms in UK scaleups over the summer, taking the total amount to £20bn so far this year, according to new research shared with City A.M. this morning. After two extraordinarily high quarters in 2021, UK scaleups continued to attract funding from across the globe [...]
Venture capital firms circle London tech scale-ups as financial injections hit record £20bn – CityAM : CityAM October 21, 2021 A record high of over £6.5bn was invested by venture capital firms in UK scaleups over the summer, taking the total amount to £20bn so far this year, according to new research shared with City A.M. this morning. After two extraordinarily high quarters in 2021, UK scaleups continued to attract funding from across the globe [...]
UK seal post-Brexit New Zealand trade deal in stepping stone to CPTPP ascension October 20, 2021 The UK has agreed to a free trade deal with New Zealand in what is another key stepping stone to joining the 11-country Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trading bloc. Boris Johnson announced today that the deal would see UK markets opened up to New Zealand agricultural products as tariffs are slashed [...]
Lloyds Bank and Halifax to close 48 branches with 178 jobs at risk October 20, 2021 Lloyds Banking Group said this afternoon it plans to close a further 48 branches, blaming declining visits by customers. The Unite union said the closure of 41 Lloyds Bank and seven Halifax branches will deny thousands of customers access to vital services and cash, and could lead to 178 job losses. Vim Maru, retail director [...]
Sustainability Reporting Standards – can the world sing in perfect harmony? October 20, 2021 Anne Adrain, Head of Sustainability and Reporting at ICAS, highlights the need for harmonisation in the development of global sustainability standards. In a world where, traditionally, developments in financial reporting have rarely tended to move quickly, the speed with which standard setters have positioned themselves to tackle the issue of sustainability reporting is impressive. But [...]
Corporate reporting goes green October 20, 2021 [Re: Government to force big business to reveal green credentials, 18th October] The Chancellor has set out new standards for reporting to keep companies accountable for their environmental claims and impact. That some companies, investment products and pension funds will be required to disclose their environmental impact is hardly surprising – it has been the [...]
Taxing times: Sunak to slim down Bank Surcharge October 19, 2021 The additional tax on banks is set to slashed in the Budget, a boost for the capital’s lenders. The Bank Surcharge, an eight per cent top-up to corporation tax levied on banks, will be reduced to three per cent in the upcoming budget according to the Financial Times. The Chancellor has previously signalled that the [...]