Hidden cuts in Rishi Sunak’s Budget to deliver ‘second austerity’, says IFS March 18, 2021 Rishi Sunak’s Budget is set to cause a “second, sharp dose of austerity” thanks to £4bn of hidden cuts, according to new analysis by a leading economic think tank. The Institute for Fiscal Studies today said there were extensive public service cuts buried in the Budget, which will see funding for the Home Office, HM [...]
Markets bounce back after stuttering start to week March 18, 2021 Crypto AM Daily brings some welcome good news for crypto markets as Bitcoin claws its way back to recent highs.
UK audit shakeup: Big Four face FTSE client caps, new watchdog and a clampdown on directors March 18, 2021 Big Four dominance in the UK audit market may be diluted under new plans announced today that would see stricter regulation of the sector and executives at major firms. The government hopes the proposals, published in a consultation today by the Department for Business, Energy and Industrial Strategy (BEIS), will lead to greater transparency in [...]
Young’s lenders restrict pub chain’s dividend to £5m for next year March 17, 2021 Young’s has warned shareholders that its lenders have restricted the amount it can pay in dividends to £5m in the next financial year, as the pub chain outlined its reopening plans. The company said it had agreed with Natwest and the holder of its senior secured notes that any shareholder payouts will not go above [...]
City Corporation welcomes plans to reopen Waterloo and City line March 17, 2021 The City of London Corporation has welcomed a commitment by Transport for London (TfL) to reopen the Waterloo and City line in the coming months. Services on the line – London’s second-most intensively used – have been stopped since March 2020. A TfL board meeting was told yesterday that the line would restart in May or June. [...]
Waterloo and City line to reopen as early as May, London Underground chief says March 17, 2021 London Underground chief says Waterloo and City line to reopen as early as May
City Moves: Who is switching jobs in the Square Mile this week? March 17, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. IoD appoints new chair The Institute of Directors (IoD) has appointed a new chair after a thorough search process, who will step into the role next Monday. Patrick Macdonald is set to take [...]
Exclusive: City’s venture capital guru on Brexit, fundraising and impact investing March 17, 2021 With Brexit just behind us, and the pandemic gradually being brought under control, it seemed like a good time to measure the temperature of London’s venture capital investment space. City A.M. sat down with David Hall, for his first major interview as chairman of the Venture Capital Trust Association, since succeeding Stuart Veale in January [...]
Cardano’s ADA added to Coinbase Pro in time for founder Charles Hoskinson’s ‘Africa Special’ keynote March 17, 2021 Coinbase Pro adds Cardano’s ADA in time for founder Charles Hoskinson’s ‘Africa Special’ keynote this Friday.
London remains Europe’s major global finance centre despite Brexit hit March 17, 2021 London has held on to the second spot in a respected international study of financial centres, despite the double whammy of Brexit and the Covid-19 pandemic. London sits behind only New York and remains Europe’s only major global financial centre, remaining a number of spots ahead of Frankfurt and Zurich. But Asian competitors Shanghai, Hong [...]