Rapid rise of ‘advance fee’ loan scams: Cases rise by 90 per cent in just 12 months May 30, 2022 So-called ‘advance fee’ loan scams have soared by more than 90 per cent this year, according to new data shared with City A.M. this morning. The rising number of cases comes as Lloyds Bank warned that, on average, the amount stolen from victims is around £231. “Advance fee” loan scams take place when victims applying [...]
The Platinum Jubilee will be a moment to reflect on what makes us stronger together May 30, 2022 The eyes of the world will be on London this week as we prepare for the Platinum Jubilee – a truly historic occasion where the country will come together to celebrate Her Majesty’s extraordinary seventy years of service. Here in the City, a national service of thanksgiving at St Paul’s Cathedral and many other festivities [...]
NIESR top economist: Bank of England has tools to fight inflation May 30, 2022 The UK economy is in a bit of a bind. Households are being squeezed by historic rises in their living costs, while businesses’ margins are thinning due to expenses soaring. A much higher than expected inflation crunch – primarily the result of Russia’s unforeseen invasion of Ukraine – is forecast to trigger a spending pull [...]
Shell warns of investment ‘uncertainty’ amid projections of record North Sea tax revenues May 29, 2022 Shell has toughened its stance on the government's announced levy on North Sea oil and gas operators, warning the new tax will create "uncertainty."
B&M looking to ease market jitters over new leadership May 29, 2022 Press Association INVESTORS will be looking for any forward-looking forecasts that they hope can lift B&M’s ailing shares as it reports its full-year results tomorrow.The recently announced departure of the company’s long-term chief executive and his family’s reduction of their shares in the firm have weighed on London-listed shares. It has meant that B&M, which [...]
Shell: ‘We understand worry for millions – but windfall tax creates uncertainty’ May 27, 2022 Shell has slammed the government’s windfall tax. It said while it “understands the worry for millions” about the cost of living crisis, the new tax creates “uncertainty” about investment in the UK energy sector. This follows Chancellor Rishi Sunak announcing a so-called Energy Profits Levy, a 25 per cent surcharge on North Sea oil and [...]
BP could reconsider UK investment plans after being hit with windfall tax May 27, 2022 Energy giant BP has revealed it will have to "look at the impact" of the government's new levy on its £18bn UK investment plans.
Sunak: If you’re rich like me, give windfall tax of £400 to charity May 27, 2022 Rishi Sunak has said people should follow his lead and give the government’s £400 energy bill assistance to charity. The chancellor of the exchequer made his comments this morning after it was announced everyone will get a grant as part of a £21bn living support package. This comes after pressure on the government to impose [...]
Oxford Street footfall still 52 per cent lower than pre-pandemic, making it the UK’s worst hit High Street May 27, 2022 Footfall on London’s Oxford Street is still 52 per cent lower than pre-pandemic levels – the worst hit high street across the UK, according to fresh retail data shared with City A.M. this morning. London continues to be impacted by hybrid working and less commuting into the city than previous years, as well as the [...]
To understand what London needs, we should look at the history of spatial poverty May 27, 2022 In the “Republic”, Plato wrote that “any city, however small, is in fact divided into two, one the city of the poor, the other of the rich”. This still rings painfully true today, especially if the city in question is London. The capital is a uniquely unequal place: it hosts some incredibly wealthy people, as [...]