Easyjet raises £419m through share placing to bolster finances June 25, 2020 Low-cost carrier Easyjet today announced that it had raised £419m through a share placing in order to help it withstand the coronavirus pandemic. In total, the budget airline placed 59.5m ordinary new shares – 15 per cent of the firm’s existing share capital – at a price of 703p per share. The placing price represents [...]
City of London Corporation donates £200,000 to cancer charity June 24, 2020 The City of London Corporation has donated £200,000 through its City Bridge Trust to a Hammersmith-based charity that helps people cope with the financial impact of cancer. Maggie’s, which has 23 centres across the UK, will use the funds to employ a specialist welfare rights and benefits adviser, to help those diagnosed with cancer seek [...]
Innovating for the greater good June 24, 2020 The collective fight against financial crime requires greater achievement by regulated businesses. Financial crime, in its various forms, has serious social and economic consequences. Whether it is misappropriated public funds, laundering of criminal proceeds, financing of terrorist activity, tax evasion, or fraud, the victims are you and I. Although the harm manifests differently – a [...]
British Airways must follow rules when it comes to job cuts, ministers warn June 24, 2020 The transport secretary has warned British Airways (BA) that it must follow the rules when it comes to making sweeping job cuts, saying he is “very, very concerned” about the 12,000 roles set to be made redundant. BA has come under heavy fire in recent weeks over its decision to make the cuts, with many [...]
The City goes al fresco: Pavement space could be reallocated for cafes in Square Mile June 23, 2020 The Square Mile’s restaurants and cafes could be given a new lease of life with al fresco dining, under new plans being drawn up by the City of London Corporation. The CLC has announced that it will look into reallocating street space to restaurants as part of its plan to help them reopen safely after [...]
Tax system to the rescue: Six policy tweaks that could kickstart the economy June 23, 2020 The past three months have seen a deluge of economic, political, and legal moves that would have been unthinkable at the start of the year. As civil liberties were curtailed on a scale never seen in peacetime and ten million children were turned away from school, new hospitals were built in a matter of weeks, [...]
DeFi booms as Etheruem miners increase network limits June 23, 2020 This week the price of Bitcoin (BTC) dropped steadily from a near $9,600 high to a low of $9,275 before it started recovering. The cryptocurrency is now trading at $9,400, and is still range bound, looking to test the $10,000 mark. Ether (ETH), the second-largest cryptocurrency by market capitalization, started the week at $220 and [...]
The Important Role of Solicitors in “Future Fund” Scheme Applications June 23, 2020 The government Future Fund scheme, devised to help innovative companies impacted by the Covid 19 outbreak, includes solicitors in critical elements of the application and funding process. On 20 April 2020, the chancellor introduced the Coronavirus Future Fund , a scheme designed to help innovative high-growth companies (including companies in the crypto and FinTech space) [...]
Big tech vs the market: what you need to know June 23, 2020 Big tech has led the global market recovery in the wake of Covid-19. Can the dominance of the FAMAGs continue? On 8 June the S&P 500 of US stocks recovered all their Covid-19 losses for 2020. The so-called FAMAGs (Facebook, Amazon, Microsoft, Apple and Alphabet (Google’s parent company)) led that recovery. Even before the pandemic, [...]
Exclusive: Half of business travel jobs at risk, says BTA boss June 23, 2020 The boss of Britain’s corporate travel industry body has warned that one in every two jobs in the sector is at risk due to the government’s blanket quarantine plans for all incoming travellers, City A.M. can reveal. Speaking at the Business Travel Association’s (BTA) annual conference, which was held virtually, Clive Wratten said: “Our government [...]