Common mistakes founders make – a lawyers’ point of view July 14, 2020 There is a ton of noise on how to succeed in making fail-proof start-ups or nailing the elevator pitch. What doesn’t find much mention is mistakes founders make for lack of a legal budget. As a lawyer I will obviously say that there is just no substitute for proper legal advice, but I also recognise [...]
Running from home: StanChart Great City Race back for 2020 July 14, 2020 One of the City calendar’s highlights will still go ahead this year – albeit in a new, remote format. The Standard Chartered Great City Race will be held on Tuesday 21st July, with entrants running from home or around their homes rather than around the landmarks of the City and the Square Mile. This year, [...]
Government dragging its feet on audit reform, says business committee July 14, 2020 The business, energy and industrial strategy (BEIS) committee has accused the government of dragging its feet on proposed audit reforms. The government has today published its response to the committee’s inquiry into the collapse of Thomas Cook last year. In the original findings from the inquiry last October, the committee expressed disappointment that the government [...]
As Britain embarks on a new trading chapter, the City is looking east July 13, 2020 The City of London’s international interconnectedness has always been fundamental to its success as one of the world’s leading financial centres. And with more than 250 foreign banks here employing tens of thousands of people, I welcome the recent easing of travel restrictions to and from the UK as another step towards the City’s Covid-19 [...]
World’s biggest firms to borrow $1 trillion amid coronavirus crash July 13, 2020 The world’s biggest companies are set to borrow as much as $1 trillion (£790bn) this year as they try to weather the coronavirus crisis, according to one of the City’s biggest asset managers. The world’s 900 biggest companies borrowed an additional $384bn between January and May by issuing bonds as they scrambled to strengthen their [...]
City Corporation asks residents and businesses to help with climate change work July 13, 2020 The City’s governing body has today launched an online survey on climate change as part of plans to launch a Climate Action strategy later this year. The City of London Corporation is developing a draft Climate Action strategy in a bid to reduce carbon emissions and be climate resilient in the future. The survey asks [...]
Wagamama owner The Restaurant Group says some sites will remain closed until 2021 July 10, 2020 Wagamama owner The Restaurant Group has secured a £50m government loan it said this morning as it revealed that some sites won’t reopen until next year. The Restaurant Group said today that just 25 per cent of its 400 sites will be open by the end of July, despite the government giving a green light [...]
Apple’s retail network pays just £6.2m tax on £1.4bn UK sales July 9, 2020 Apple’s UK retail arm paid just £6.2m in tax last year, despite raking in sales of almost £1.4bn as demand for its products boomed. Accounts filed today for Apple Retail, which manages its UK store network, showed revenue jumped 15 per cent in the 12 months to September 2019, despite not opening any new stores. [...]
Page Group profit halves amid coronavirus lockdown July 9, 2020 Page Group’s profit almost halved as countries around the world entered lockdowns to curb the spread of coronavirus, the recruiter said today. Gross profit sank 47.6 per cent overall, with the UK one of the worst performers, where income sank 61.5 per cent year-on-year in the three months to 30 June. France plunged 52 per [...]
City reckons more ‘enormous’ stimulus to come from Rishi Sunak in autumn July 8, 2020 Chancellor Rishi Sunak today unveiled a package worth up to £30bn to boost the UK economy as the coronavirus lockdown is gradually eased, and promised it “will not be the last action”. At the centre of the stimulus is a “job retention bonus” worth up to £9bn that will pay companies to take back furloughed [...]