Fintech innovation will be at the heart of London’s recovery April 19, 2021 Over the last week I’ve been out in the City actively showing my support for businesses reopening after lockdown, including getting a long overdue haircut. Local shops, barbers, pubs and restaurants are of course the backbone of places like the Square Mile. But as we look to kickstart a strong, sustainable recovery post-pandemic, what’s also [...]
UK shared office space providers ramped up growth before pandemic April 19, 2021 The UK’s largest shared office space providers grew the value of their property portfolios before the coronavirus pandemic sparked a shift to home working. The serviced office space sector grew its overall property value to £18.9bn in the 2019/2020 financial year, up six per cent on the previous 12 months. The figures highlight the growing [...]
Sunday Sitdown: Investors look past political changes as Brexit offers a chance to alter investment regulation, says City veteran April 18, 2021 More than 440 firms in banking and financial services have relocated part of their business, moved employees or set up new entities in the EU following Brexit. Dublin and Paris are the go-to destinations, as banks have moved or plan to move more than £900bn in assets to the EU, equivalent to 10 per cent [...]
FTSE 100 pushes above 7,000 for first time since Covid crash as Wall Street hits new records April 16, 2021 London’s FTSE 100 rose above the 7,000-mark today for the first time since Covid pummelled financial markets last year. Across the Atlantic, Wall Street again hit new record highs on the back of a bumper set of earnigns from America’s banking giants. Speedy vaccine rollouts and government policy support has lifted investor confidence about a [...]
National Audit Office launches investigation into Greensill’s involvement in Covid loan schemes April 16, 2021 The National Audit Office (NAO) has launched a probe into supply chain finance firm Greensill Capital following its collapse. Last month the supply chain finance firm appointed Grant Thornton as its administrators, warning it is in “severe financial distress” as its practices came under severe scrutiny. Now the NAO will investigate Greensill’s involvement in the [...]
Rail firms to launch flexible season tickets to lure commuters back to city centres April 16, 2021 Ministers and rail chiefs are finalising a new system of flexible season tickets designed to entice commuters back to city centres as the shift to hybrid working takes off. Cost concerns mean the discounts will be much less generous than for traditional season tickets, to spare the taxpayer from further expenses, the Telegraph has revealed. [...]
City of London Corporation appoints new top team to lead transformational change April 16, 2021 Following its decision in December 2020 to endorse a new Operating Model, the City of London Corporation’s governing Court of Common Council today welcomed the appointment of eight new senior officers and formally confirmed the appointment of the first woman as Chamberlain, the Corporation’s Chief Financial Officer, since the post was created in 1237. Chair [...]
Data protection: Privacy crackdowns could hand tech giants even greater dominance if we don’t tread carefully April 16, 2021 As consumers of online content, we have all grown used to the knowledge that the internet offers an inexhaustible wealth of information from countless sources, ranging from critically acclaimed journalism to user-generated content. Much of it is completely free and accessible to everyone with an internet connection. The principles of an open and free internet [...]
Policy Chair outlines Square Mile COVID recovery plan April 15, 2021 Speaking at the Court of Common Council today (15 April), City of London Corporation Policy Chair Catherine McGuinness promised a strong, sustainable COVID-19 recovery in the Square Mile. She said: “We need to encourage the return of workers and visitors, while also providing reassurance about the steps taken to protect public health throughout the City’s reopening. [...]
Beleaguered Cineworld tops the list of 10 most shorted UK stocks April 15, 2021 Cineworld tops the list of 10 most shorted stocks in the UK as hedge funds take aim at the cinema which has been forced to shut for over a year. A “short” is a method of betting against a stock, so that the investor can make a profit if the share price falls. Investors borrow [...]