After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Budget 2021: Pubs, restaurants and retailers toast Sunak’s announcement but warn of gaps in support March 3, 2021 The hospitality and retail sectors have welcomed the Chancellor’s extended support for pubs, restaurants, shops and salons, but said more could be done to encourage consumers back to the high street after lockdown. Rishi Sunak this afternoon announced measures including a business rates holiday extension, new “restart” grants, a VAT cut extension and a beer [...]
Budget watchdog predicts UK Covid restrictions to last into autumn March 3, 2021 The UK’s budgetary watchdog is expecting Covid restrictions to last well past the government’s 21 June target date. The Office for Budget Responsibility (OBR) said in its economic forecast today that it expected Covid curbs like travel restrictions, local lockdowns, limits on large gatherings and guidance on home working to continue into the autumn. This [...]
Budget 2021: As it happened March 3, 2021 Live updates and links to all our coverage, reactions and analyses as the Chancellor of the Exchequer delivers the government’s Budget later today – at 12.30pm. Please also visit our dedicated Budget 2021 Hub. Wrap-up of the main Budget announcements Here’s a wrap-up of the main announcements made by the chancellor in his spring Budget: [...]
Budget 2021: Pensions lifetime allowance frozen for five years March 3, 2021 The pensions lifetime allowance will be frozen at its existing level until April 2026, in a move that effectively decreases its value when inflation is taken into account. The Chancellor today said the lifetime allowance would remain at its current £1,073,100 for the next five years, rather than increasing in line with inflation. The move [...]
FTSE 100 pares gains as investors split on Sunak’s Budget March 3, 2021 The FTSE 100 pared some of its gains after today’s Budget, as investors reacted to a combination of further business support and future tax hikes. Having been up 1.2 per cent by the mid-morning, London’s blue chip bourse fell back to 6,639 points, up 0.4 per cent. Read more: Budget 2021: Live news and updates [...]
Budget 2021: Bank surcharge to be reviewed in light of corporate tax hike March 3, 2021 The surcharge levied on bank profits will come under review later in the year, in light of planned changes to corporation tax. Chancellor Rishi Sunak today said the additional bank surcharge of eight per cent on profits would be reviewed because the increase in the main corporate tax to 25 per cent would make UK [...]
Income tax freeze to cost Brits £8bn by 2025 March 3, 2021 Income tax personal allowance thresholds will be frozen until 2025, costing Brits £8.1bn by 2025-26. Both the Personal Allowance, and the Basic Rate Limit, will be set at 2021-22 levels for five years. Whilst the Chancellor said in the Budget that take-home pay would not fall as a result of the measure, the move will [...]
Spac revolution set to unlock Big Bang 2.0 for the City of London March 3, 2021 The UK is set to spark a second Big Bang for the City post-Brexit, with a landmark government report calling for regulators to allow Spacs to list in London and ease a range of share listing restrictions. Lord Jonathan Hill’s report into future financial services regulation, released today, calls for a range of deregulatory measures [...]
Budget: OBR forecasts stronger than expected UK economic recovery March 3, 2021 The UK’s economy will have a stronger bounce back from the coronavirus crisis than previously expected with unemployment set to peak at a far lower level, according to new economic forecasts from the government’s Budget watchdog. Sunak said the Office for Budget Responsibility (OBR) now predicts the UK’s GDP will return to pre-crisis levels by [...]
City Moves: Who is switching jobs in the Square Mile this week? March 3, 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. This week we have seen a flurry of new hires across the capital. From a Ritz chairman joining an intelligence firm, to a former Knight Frank executive taking on a leading residential role [...]