Invesco bond bosses step back amid fund reshuffle July 22, 2020 Invesco has reshuffled its fixed interest management team with bosses Paul Read and Paul Causer both stepping back from their management roles on a series of a funds. Read is stepping down as manager of the Monthly Income Plus fund but will keep his management role on the £49.2m Global Income fund. He and Causer [...]
KPMG set to slash jobs and pension contributions in cost-cutting drive July 22, 2020 KPMG is set to cut more than 100 jobs and slash contributions to employees’ pensions in a bid to slash costs during the pandemic. The Big Four firm is expected to cut just under 200 jobs across the UK ahead of the long-awaited reform of the audit reform. Sky News first reported that partners and [...]
Stagecoach shares surge despite profit nosedive amid pandemic July 22, 2020 Stagecoach’s shares shot up in early trading today despite revealing a staggering 60 per cent plunge in annual profit in part due to the impact of the coronavirus pandemic. The bus operator’s shares surged 10.8 per cent to 55.9p as large slumps in revenue and profit for its latest financial year were not as bad [...]
Britain deserves a New Deal — with platform workers and digital rights front and centre July 22, 2020 Crises tend to reshape and transform how we work — and Covid-19 is no different. From the extraordinary rise in home working and the reorganisation of physically distanced workplaces, to the sharp rise in unemployment and the existential threat now facing many sectors, the consequences to life and work will long outlast the pandemic itself. [...]
Tapestry chief executive quits after less than a year July 21, 2020 The chief executive of Tapestry, the parent company of luxury brands Coach and Kate Spade, has stepped down after less than a year in the job. Jide Zeitlin, who was also chairman, has today resigned from the New York-based firm, citing “personal reasons”. The Wall Street Journal, citing people familiar with the matter, said Tapestry’s [...]
Apple to be carbon neutral for its entire business by 2030 July 21, 2020 Apple has said it will remove all carbon emissions across its supply chain and products by 2030, having already become carbon neutral in its corporate operations. The tech giant said its thousands of suppliers will be required to be carbon neutral within the next decade. It aims to achieve 75 per cent of this goal [...]
Tory MPs vote against protecting the NHS from a post-Brexit trade deal July 21, 2020 Tory MPs last night voted down an amendment to the government’s Trade Bill intended to protect the NHS from any form of control from outside the UK, in a major blow to Britain’s health service as it grapples with the aftermath of the pandemic. Labour proposed an amendment to the Trade Bill which would have [...]
Social licence: How financial markets can switch focus and help solve humanity’s greatest challenges July 21, 2020 If there was ever any question as to whether we value human life more than money, the coronavirus pandemic has surely answered it. The protection of ordinary people, in this country and indeed in almost every country in the world, has come at an extraordinary economic cost. Yet only a minority of people have dared [...]
Companies borrow £48bn through UK coronavirus loan schemes July 21, 2020 Close to £48bn has now been lent out through the government’s coronavirus loan schemes, with the bounce back loan (BBL) programme offering by far the most support for businesses. It comes as the UK government accelerates plans to reopen the economy. Pubs, restaurants and cafes were opened at the start of this month and gyms, [...]
Business Heroes 2020 July 21, 2020 Lockdown has been challenging for companies and their staff alike – whether working from home or furloughed – City AM like all businesses, has faced many of the same challenges, as we all try to navigate this crisis. But amidst these difficult days, plenty have gone above and beyond, to ensure their companies are able to deliver [...]