Level up: Boosting the regions might mean levelling down London March 12, 2020 Except for updates on the coronavirus, no ministerial appearance these days is complete without mention of the government’s professed intention to “level up”. This seems to mean a desire to do something — usually something to do with infrastructure spending — for the so-called “left-behind” places that voted Leave in 2016, and especially those “red [...]
2020 Budget live: City reacts to Rishi Sunak’s spending plans March 11, 2020 Welcome to City A.M.’s 2020 Budget Day live blog. Please refresh your browser for live updates. Chancellor Rishi Sunak is expected to address fears over the economic impact of coronavirus, and announce waves of new infrastructure spending and changes on taxation in his 2020 Budget. It comes after Bank of England governor Mark Carney earlier [...]
Training provider Mind Gym warns on coronavirus hit to profit March 9, 2020 Workplace training provider Mind Gym this morning warned that revenue and profit will miss expectations following the coronavirus outbreak. Revenue growth is expected to be 10 to 15 per cent in the year to 31 March, below previous expectations, due to a spike in cancellations and a reduction in new bookings. Profit before tax is [...]
Coronavirus crisis wipes £59bn off FTSE 100 March 6, 2020 Coronavirus wiped £59bn off the FTSE 100 today to cap off another week of stock market turmoil. The blue-chip stock index sank by 3.6 per cent, or 242.88 points, to finish the week on 6,462.55 points – its lowest since July 2016. Meanwhile, the FTSE 250 was down 2.98 per cent, or 576.62 points to [...]
Government bond yields sink to record low on coronavirus disruption March 6, 2020 Government bond yields sunk to fresh historic lows as fears over the impact of the coronavirus epidemic on global growth sent investors rushing to safe haven assets. Concerns over the outbreak have sent equities tumbling across the globe and pushed the price of several government bonds to historic highs, while yields (which move inversely to [...]
Airline stocks push FTSE 100 back into the red as coronavirus fears mount March 2, 2020 Airline stocks continued to plunge this morning as more flights were suspended on the back of growing fears over the spread of the coronavirus outbreak. British Airways owner IAG was the FTSE 100’s biggest faller, shedding another nine per cent this morning to land at 426.20. The fall means that since 23 February IAG has [...]
Chancellor Rishi Sunak needs to step back and rethink IR35 February 27, 2020 When Philip Hammond announced in 2018 that IR35 would be extended to the private sector, he heralded it as a move that would “open a new chapter in our country’s economic future”. But fast-forward two years, and the new chancellor, Rishi Sunak, is still facing a huge headache over the tax legislation changes, effective from [...]
Government appoints advisers to oversee outsourcers amid fear of Carillion-style collapse February 23, 2020 The government has reportedly appointed advisers to monitor the health of important outsourcers such as engineering company Kier. The Sunday Telegraph reported that the Cabinet Office has hired accountancy firm Deloitte to assist in assessing the finances of key contractors. The move follows the collapse of outsourcer Carillion in 2018. The Cabinet Office, which employs [...]
Free the e-scooters and unleash a British transport revolution February 6, 2020 The e-scooter revolution is happening at breathtaking speeds — but because of archaic laws, the United Kingdom is missing out. E-scooters can be legally purchased in Britain, and have become an increasingly common sight on the streets. They are, however, unlawful for use on public roads, cycle paths and pavements under the Highways Act 1835 [...]
12 steps to turn your brilliant idea into a business January 27, 2020 Most of us have probably had a great business idea at some point in our lives. A lightbulb moment in the pub, a problem solved in the shower or brief thought whilst waiting for the bus. But so rarely do these ideas ever progress beyond a fleeting thought. And setting up a business can be daunting, [...]