Small law firms are let off from economic crime tax September 23, 2021 Small law firms have escaped the UK government’s Economic Crime Levy, aimed at raising £100m annually from anti-money laundering (AML) regulated organisations, to help pay for the fight against economic crime. Instead, AML-regulated organisations, including legal practices, banks and accountancy firms, with revenues above £10.2m will be subject to the new tax. The Economic Crime [...]
BoE warns inflation will top previous forecast but takes no action September 23, 2021 The Bank of England warned today soaring energy and raw materials prices will push inflation above its previous forecasts, but did nothing to rein in price rises. Officials on Threadneedle Street upped their inflation forecasts for the year to above four per cent, over double its target. Despite the higher than expected inflation clip, the [...]
BoE signals looming tightening but keeps rates and QE unchanged – CityAM : CityAM September 23, 2021 The Bank of England today signalled it could rein in the wave of stimulus it unleashed in response to the Covid-19 crisis soon. The Old Lady’s committee of rate setters acknowledged the UK economy’s sharp rebound from the pandemic had strengthened the case for “some modest tightening of monetary policy.” Also Read: US Fed to [...]
City of London exec: Hybrid working is here to stay and the Square Mile will adapt September 23, 2021 The new flexible ways of working are here to stay – and the City will adapt, the chair of City of London Corporation’s planning and transportation committee, Alastair Moss, has said. Championing the fresh approach to working life in the capital, Moss urged that although employees are seeking a better work-life balance, City office spaces [...]
City Moves: Who’s switching jobs in the Square Mile today? September 23, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Savills adds two to Super Prime London team Savills has added two new hires to its Super Prime London Residential Development Sales team at its headquarters on Margaret Street, who both previously worked for the estate agency. [...]
Frustrated customers are leaving their banks over mishandled complaints September 23, 2021 Disgruntled customers are leaving their banks in droves after being let down by inadequate complaints handling processes. Complaints have been on the rise during the Covid-19 pandemic with 27 per cent of customers raising issues with their bank or the Ombudsman in the past 12 months. Data from software company Nuix found that over a [...]
The ICAS public voice – the corporate ecosystem post-covid September 23, 2021 As we begin to emerge from Covid-19, a key strand in the public policy work undertaken by ICAS relates to reforming the corporate ecosystem. From a public interest perspective, our role is to share insights, shaped and informed by the views of ICAS Members, into the many complex issues and decisions involved in developing high-quality [...]
British company inks Japan electric aircraft deal worth up to $800m September 22, 2021 A British manufacturer, leading the transition to carbon free aviation, has inked a deal to introduce its flagship electric aircraft to the Japanese market. Bristol based Vertical Aerospace has agreed a partnership with Marubeni Corporation, a leading Japanese trading and investment conglomerate to explore sustainable, emissions free aircraft. City A.M. understands the deal could be [...]
Lord Mayor calls on financial regulators to focus on innovation and sustainability September 22, 2021 Lord Mayor of the City of London, William Russell, will tonight (22 September) deliver a speech at the City Dinner at The Mansion House to an audience of senior regulators and representatives from across the financial and professional services industry. Lord Mayor William Russell will speak alongside Sam Woods, Deputy Governor of the Bank of England [...]
Three companies that are on hiring sprees at the moment September 22, 2021 Are you on the lookout for a new job at the moment? How exciting! There are some really cool companies out there looking for talent right now, so you’re in luck. We had a little look on our job board and noticed three companies in particular that seem to be on a bit of a [...]