Equiniti chairman admits 2020 was a ‘difficult year for shareholders’ as profits tumble April 1, 2021 The chairman of Equiniti has admitted 2020 was a tough year, with the business recording reduced revenue, EBITDA and profit. Revenue at the payments and technology firm was down 15 per cent in 2020 to £471.8m, and underlying EBITDA tumbled 32.6 per cent to £91.7m. Equiniti made a loss of £6.6m in profit before [...]
Crypto firm Luno appoints new CFO March 31, 2021 Leading global cryptocurrency operation Luno has appointed banking veteran Alwyn Jones as Chief Financial Officer.
£9.5m boost will help make City Corporation buildings ‘greener’ March 31, 2021 The City of London Corporation has been given a multi-million pound Government funding boost to help make its buildings more energy efficient. The Square Mile’s governing body has been awarded £9.445 million from the Public Sector Decarbonisation Scheme administered by Salix Finance on behalf of the Department for Business, Energy and Industrial Strategy. The money [...]
The final countdown: Are businesses prepared for the Libor transition? March 31, 2021 The countdown to the end of Libor has begun but the scale of the work involved in transitioning to the new rate is immense. For 40 years Libor has been the key benchmark for setting interest rates on various loans and contracts, underpinning trillions of dollars of transactions, before controversy hit. From today no new [...]
UK insurers have more work to do on environmental policies March 31, 2021 Insurers in the UK have more work to do on the environmental and social aspects of ESG, though they are global leaders in governance. The UK is underperforming many of its European peers on environmental processes and reporting across a number of areas, research by Big Four consultancy firm EY has found. EY carried out [...]
Greensill: What is the David Cameron lobbying row all about? March 30, 2021 Labour is calling for an inquiry amid reports former Prime Minister David Cameron used his contacts to lobby for support for Greensill Capital through the government’s Covid Corporate Financing Facility. Business secretary Kwasi Kwarteng insists Cameron “did absolutely nothing wrong” in his dealings, adding that “everything was above board” with the former prime minister’s connection [...]
Explainer: How will the BBC change in the next five years? March 30, 2021 The BBC this week published its annual plan, outlining its strategy and financial targets as it looks to adapt to major shifts in the media landscape. It comes at a tough time for the public service broadcaster, which is facing declining viewer numbers and a political row over its licence fee funding model, as well [...]
City of London Police Authority Board aims for force to recruit 40% BAME officers March 30, 2021 The City of London Police Authority Board (PAB) has agreed proposals to work with the City of London Police to ensure that the force is representative of the community that it serves. Under the plans, the PAB will challenge the force to recruit at least 40% BAME officers for the remainder of the Home Office [...]
Culture Corner: Your regular City arts round-up March 30, 2021 As we look forward to the City reopening for business, we’re ready to start up our Culture Corner series again, pointing you in the direction of the best arts and culture within the Square Mile and championing the role of the arts within the business community. So much is made possible when the culture, arts [...]
Fortnite maker complains of Apple’s ‘anti-competitive’ behaviour to UK watchdog March 30, 2021 Fortnite maker Epic Games has complained to the UK’s markets watchdog today over Apple’s ‘anti-competitive’ rules, after a spat that led to the game being banned from the App Store last year. Epic took its competition complaint to the Competition and Markets Authority (CMA), claiming Apple exercised unfair control over app makers. Last August, Fortnite [...]