Lenders set to increase interest-free periods on credit cards July 15, 2021 Households could be offered longer interest-free periods on credit cards over the summer, according to a survey of lenders. Banks and building societies also anticipate that mortgage availability to households will rise, according to the survey published by the Bank of England. The Bank’s Credit Conditions Survey is carried out every quarter to help it [...]
Ripple case with SEC rests on a knife-edge phone call July 15, 2021 The drawn-out courtroom battle between Ripple Labs and the Securities and Exchange Commission hinges on a phone call with the judge this afternoon.
Two weeks to go: Square Mile SMEs urged to take advantage of City Corporation financial support before deadline July 15, 2021 The City of London Corporation has today (15 July) called on qualifying SMEs based in the Square Mile to apply to its Covid Business Recovery Fund before the scheme closes on 30 July. The funding pot offers up to £50 million in support for SMEs which contribute to the Square Mile’s vibrancy at street level, and which directly provide services to [...]
The time is now for organisations to refresh their culture and values July 15, 2021 In 2015, ICAS launched its business ethics initiative – The Power of One – which highlights ethics is at the heart of the professional responsibilities of ICAS Members. ICAS has since published a series of publications, guidance and resources as part of The Power of One initiative. The Power of One publication ‘Organisational culture and [...]
Citigroup profits smash estimates as bank unlocks loan loss reserves July 14, 2021 US bank Citigroup smashed analysts’ estimates for second-quarter profits as the sharp American economic rebound allowed the bank to unlock a deluge of loan loss reserves. Net income surged to $6.19bn in the second quarter of this year, up sharply from $1.06bn in the same period last year. The banking giant’s profits were lifted by [...]
Questions pile up for Gupta after ‘deeply discourteous’ inquiry snub July 14, 2021 MPs on the parliamentary business committee have written to steel tycoon Sanjeev Gupta criticising his “deeply discourteous” decision not to appear before an enquiry into embattled Liberty Steel. They also questioned the “unusual extent to which you personally control the finances of Liberty Steeland its associated companies”. Gupta is the chief executive and chairman of [...]
Fees rise as Big Four still dominate FTSE 100 audits market July 14, 2021 Long-standing plans to increase competition in the auditing market appear to have been delayed slightly longer, as the Big Four accounting firms continue to dominate. The Financial Reporting Council (FRC), the regulator for auditors, said that KPMG, EY, Deloitte and PwC audited all FTSE 100 companies in a roughly even four-way split. Government-backed reviews had [...]
McDonald’s to offer childcare and tuition amid hiring push July 14, 2021 McDonald’s will be offering tuition payments and higher hourly wages as well as childcare support in an attempt to attract workers due to many of its restaurants struggling to employ staff in the US. Since the pandemic, the fast food giant has let staff members go in order to save running costs, but is now [...]
Bumper set to fire up its Liquidity Provision Program today July 14, 2021 Crypto AM turns its spotlight on Bumper - a DeFi protocol that shields your crypto from volatility.
Collective raises £6m with Silicon Valley NFX, amid growing demands for gig worker benefits July 14, 2021 Collection Benefits, a UK insurance tech startup, have raised £6m in a round led by a Silicon Valley venture fund, as the demand for insurance and benefits in the gig economy continues. The year-old insurance provider also announced the appointment of Pete Flint OBE, the co-founder of Lastminute.com and a general partner at NFX, as [...]