Massive corporate debt could hamper the pandemic recovery. Here’s how we could deal with it September 11, 2020 Will Tanner puts forward a suggestion for tackling UK companies’ rising corporate debt in the wake of the pandemic. The paradox of the pandemic is that everything we have done to support our economy through the crisis may inadvertently hamper our recovery out of it. Since March, the Treasury has gone to unprecedented lengths to [...]
Rio Tinto boss steps down after Aboriginal cave blast September 11, 2020 The chief executive of Rio Tinto will step down following criticism of the mining giant’s destruction of Aboriginal heritage sites in Australia. Jean-Sebastien Jacques will remain in his role until the appointment of his successor or 31 March 2021, whichever is earlier, the company said this morning. The FTSE 100 boss has been under fierce [...]
The World Trade Organisation must halt its march into irrelevance September 11, 2020 Even the World Trade Organization’s strongest advocates cannot deny that it is an organisation with serious problems. It is a body that has deep technical skills and a relatively simple purpose, to ensure international trade flows as smoothly, predictably and freely as possible. A steady rise in protectionism, diminishing respect for its rules and an [...]
In a remote-working future, young people have so much to lose September 11, 2020 Boris once again rolled up his sleeves for a fight last week as he put pressure on employers to bring their teams back to the office. It won’t be easy – the business world is at loggerheads. JP Morgan and Schroeders, the most corporate of employers, have committed to remote working on a permanent basis [...]
Capital markets should play a part in the post-Covid recovery, says think tank September 11, 2020 Capital markets have and will continue to play an integral role in supporting Europe’s economic recovery, according to think tank New Financial. It has today published a report on how banks and capital markets can play a part in the response to the coronavirus crisis. New Financial argues that while banks and capital markets were [...]
MPs attack chancellor’s plan to wind down furlough scheme September 11, 2020 The powerful Treasury Committee of MPs has criticised the chancellor’s new job retention bonus scheme as inefficient, and called for him to “carefully consider” more targeted support for parts of the economy when the furlough scheme ends. In a wide-ranging report, the Committee also said the Treasury must quickly come up with a scheme to [...]
The office is a particularly important place for startups September 11, 2020 Remote working is liberating us from the shackles of outdated, 20th Century habits, goes the prevailing narrative. We are freed from the purgatory of the daily commute and are spared office gossip, time-wasting meetings or pointless rituals. Major corporations seem to have embraced this ethos too. Google has said that most employees can be home-based [...]
City of London Corporation urges firms to return to the office September 10, 2020 The City of London Corporation has called on businesses to start bringing employees back to the Square Mile. Speaking at the Court of Common Council, policy chair Catherine McGuinness said that any return to the office for City workers must be in line with government guidance. “We know that the workforce in the Square Mile [...]
City of London Corporation hits out at China for breaching its UK treaty September 10, 2020 The City of London Corporation has accused China of breaching the Sino-British treaty, after imposing draconian national security laws on Hong Kong. The local authority’s Court of Common Council – which comprises all of its elected officials – voted in favour of the motion, which accused Beijing of denying Hong Kongers the right to enjoy [...]
LVMH to launch ‘vigorous’ defence against Tiffany lawsuit over $16bn merger September 10, 2020 Louis Vuitton owner LVMH said it will defend itself “vigorously” against a lawsuit filed by Tiffany & Co, which was launched after the luxury goods giant pulled out of a $16bn deal to acquire the jeweller. Tiffany yesterday said it would sue LVMH to force it to complete the merger after the French conglomerate announced [...]