The recovery requires more capitalism, not less August 6, 2021 Last week, the US tech giants reported profits the size of a small country’s GDP. At around the same time, news broke that Conservative donors were paying to bend the ears and influence the policies of our Prime Minister and Chancellor. It wasn’t hard to conclude that something is rotten in the state of capitalism [...]
Being Paid in Crypto. Will it get you two six-month holidays per year? August 6, 2021 Millions of Americans live in bad economic conditions and don’t have even $1,000 of savings to cover emergency expenses. In 2019, about 61% of the US population couldn’t cover a $1,000 emergency bill and even stimulus payments haven’t improved the situation. As global economic conditions harden because of the COVID-19 pandemic, Bankrate estimates only 39% [...]
Amazon pushes back on return to office as Delta variant takes hold in US August 6, 2021 Amazon has postponed the return to the office for its employees until January 2022 amid concerns about continued surging coronavirus cases worldwide. The retail giant said on Thursday it would not expect its corporate employees – who had been due to return to their desks next month – to return to the office until 3 [...]
Bank of England to tighten monetary policy to tame runaway inflation August 5, 2021 The Bank of England signalled today it is likely to start reining in the wave of monetary stimulus it unleashed in response to the Covid crisis to control inflation. “At some point, monetary policy may need to tighten so that the MPC can meet its remit” of achieving an inflation target of two per cent, [...]
Mike Ashley: Will the headline-grabbing Sports Direct boss go quietly? August 5, 2021 Frasers Group boss Mike Ashley is to relinquish his position as chief executive of the retail group after decades in the spotlight but there are suggestions the billionaire will continue to call the shots. The Sports Direct founder will hand over the reins next year to his daughter’s fiancé, Michael Murray, the group confirmed in [...]
Does big tech have a blind spot? August 5, 2021 The giants of Big Tech have emerged as the undoubted corporate victors of the past decade. Throughout that period, companies like Amazon, Facebook, and Google dominated the global marketplace, capturing ever-larger market shares and destroying upstart competitors in their way. These firms built impressive businesses, and investors rewarded their achievements with doubly impressive valuations: the [...]
Investors pile £12bn into UK-listed companies, hoisting the market above pre-pandemic levels August 5, 2021 UK listed companies have raised more than £12bn in fresh capital from investors in the first half of this year, building the market back above pre-pandemic levels. The pandemic caused a resurgence in UK capital markets activity last year, with funds raised by listed companies peaking at its highest level in over a decade. Investors [...]
Pandemic support: Santander UK to rollout cash flow management app for SMEs August 4, 2021 Santander UK has begun rolling out an app that helps smaller companies track their cash flow and invoices, as lockdown gave way to a boom of new small businesses. The app, called CashFlow Manager, will let clients have a ‘single view’ of various account balances and transactions across their different banks. It also analyses each [...]
City Moves: Who’s switching jobs in the Square Mile this week? August 4, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. TopHat appoints former McLaren group boss as CFO Goldman Sachs-backed housing company TopHat has bagged McLaren’s former boss as its new chief financial officer to join its King Cross offices. Paul Buddin, who left the McLaren [...]
It’s time to have a conversation about disability in business August 4, 2021 Ronnie Jamieson CA discusses what it means to be “diffabled” in the corporate world and how he hopes to show people with disabilities that there is more help than they might expect. Ronnie Jamieson, a financial accountant at Martin Currie Investment Management, was born and raised in Falkirk to a stay-at-home mum and a schoolteacher [...]