Working from home takes toll on younger generations, survey finds October 14, 2020 Working from home is disproportionately affecting young people, according to new research, as fears of fresh local lockdowns around the country continue to hamper a return to the office. More than 85 per cent of 1,500 office workers surveyed by design firm Oktra said they struggled with the switch to homeworking during the pandemic. Younger [...]
Ashmore assets rise as market recovery offsets outflows October 14, 2020 Ashmore’s assets under management rose by nearly $2bn in the first quarter as a recovery in the markets helped to offset net outflows. The money manager, which focuses on emerging markets, said assets under management (AUM) increased by $1.9bn in the period to 30 September, offsetting net outflows of $0.8bn. AUM were estimated at $85.5bn [...]
UK’s £225bn professional services industry risks ‘catastrophic’ hit from Brexit October 14, 2020 Britain’s £225bn professional services industry has been ignored by the government and is under “catastrophic” threat of losing business to the EU post-Brexit, a parliamentary committee has warned. A House of Lords’ EU services subcommittee report published yesterday said the UK’s accountants, lawyers, recruiters, architects and advertisers are under risk of losing contracts and jobs [...]
Mayor 2.0: London deserves a leader who can punch at the capital’s weight October 14, 2020 It’s more than 20 years now since we saw the creation of an elected mayor of London with executive power over the whole city. Devised at a time of widespread devolution, public response to the role was lukewarm, with only around a third of voters bothering to express a preference either way. It was somehow [...]
Think tanks warn Sunak not to hurt UK’s ‘tax competitiveness’ October 14, 2020 Free-market think tanks have warned the government not to raise taxes on companies and dividends to try to mend the hole in the public finances, arguing that it would be an act of “self-sabotage”. The UK budget deficit is set to hit £350bn this year, the Institute for Fiscal Studies (IFS) think tank said yesterday. [...]
More than half of London businesses ‘are not prepared’ for local lockdown October 13, 2020 Almost 60 per cent of London businesses have no plan in place for a local lockdown, according to new research, as the London mayor today warned the capital could see tighter restrictions within the next few days. Only 41 per cent of companies in the capital currently have a plan in place to deal with [...]
Finsbury Circus Gardens to become ‘City haven’ in major facelift October 13, 2020 The City’s largest open space is set to undergo a major revamp to transform it into a “haven for people and wildlife”, the City of London Corporation announced today. Finsbury Circus Gardens, London’s oldest public park, will see a new “secret garden”, urban forest and multi-purpose garden pavilion transform it into an “active cultural hub” [...]
Global airlines get nearly £100bn in state aid and bailout funding October 13, 2020 Easyjet last week became the latest airline to indicate that it may need more money from the state to deal with the financial hammering it has taken at the hands of coronavirus. Around the world, governments have already splashed out a whopping £98.7bn on airlines, a figure that could jump by another $25bn (£19.3bn) if [...]
The DeFi Bubble and the Next Bitcoin Boom October 13, 2020 Programmers have found a way to replace the core service offerings of Wall Street and an army of corporate lawyers with 800 lines of smart contract code. The “De” in DeFi stands for “decentralized,” meaning there are no intermediaries in the process. Despite the raw and unpolished user interface, billions in assets flow through new [...]
Government Covid leaks ‘eroding trust’ with businesses, says Chambers of Commerce October 12, 2020 One of the UK’s largest business lobby groups has slammed the government for “eroding trust” with the private sector thanks to a slew of anonymous briefings and rumours over Covid restrictions. The British Chambers of Commerce said “speculation and rumour have badly eroded trust between Westmisnter, local government and our businesses communities”, adding that the [...]