SME crisis: Late payment of invoices and spiralling costs threaten survival of more than 400,000 small businesses January 3, 2022 Paying invoices too late is threating the survival of hundreds of thousands of small firms, a businesses group warned this morning. The Federation of Small Businesses (FSB) fears that late payments, high inflation and mounting administration for firms that trade internationally could see numbers shrink if something is not done about these issues. Of the [...]
Best of 2021:‘Let’s get a Premiership Rugby game in Singapore’ January 2, 2022 Premiership Rugby is nearing the half-way point this season and in December Matt Hardy spoke to title sponsor Gallagher’s CMO. Originally published 16 December. Premiership Rugby’s main sponsor, the US-headquartered insurer Gallagher, has called for the league to stage matches overseas in locations such as Singapore and Kuala Lumpur. English club rugby’s top competition has [...]
HSBC gets green light to buy out China life insurance joint venture December 30, 2021 HSBC have announced this morning that it has received regulatory approval in China to take full ownership of its life insurance joint venture in the country, as it continues to expand its non-core banking services. HSBC has got clearance from the Shanghai office of the China Banking and Insurance Regulatory Commission to buy the remaining [...]
NHS to open eight ‘Nightingale’ hospitals as Omicron cases surge December 30, 2021 Eight temporary "Nightingale" units are being built this week as Omicron surges across the UK.
Poverty looms for millions of UK families as energy bills climb by £1200, inflation rises and taxes jump 1.25 per cent in 2022 December 29, 2021 Soaring energy bills, inflation and rising taxes are likely to lead to a ‘cost of living catastrophe’ for millions of UK families, an economic think tank warned this morning. The Resolution Foundation (RF) said from next April families would typically face a £1,200-a-year hit to their incomes as the energy price cap is raised and [...]
2021: Best year ever for UK tech sector with £26bn in VC, 116 unicorns, record London listings and more jobs December 28, 2021 The UK tech sector looks back on its best year ever, raking in £26bn in venture capital, record London listings, more jobs and the number of British unicorns climbing to 116. Success feeds cities outside London as Cambridge has become the leading regional tech city in the UK thanks to its combination of high levels [...]
Ex-TSB chief Richard Meddings frontrunner: City banker emerges as preferred candidate for NHS England chairman role December 24, 2021 In a bid to make NHS England more “accountable” for its funding, a City banker is set to become the body’s new chairman. The Department of Health and Social Care confirmed former TSB chairman Richard Meddings is the Government’s preferred candidate for the role on Thursday. The Telegraph reported that ministers wanted Mr Meddings to [...]
End of year rush sees value of FCA fines increase fourfold to £618m. highest level in six years December 23, 2021 An end of year surge in fines has seen the value of FCA fines increase fourfold to £618m this year, up from £156m last year, the highest value of fines in six years, according to new data shared with City A.M. this morning. The increase in fines in 2021 was dominated by four blockbuster fines [...]
Crypto pioneer Justin Sun plans $28m space flight with Blue Origin December 22, 2021 Justin Sun, the founder of crypto project Tron, has revealed he bagged a spot to fly into space with Bezos-owned Blue Origin at an auction.
Credit Suisse sacks staff with links to Greensill funds after review into collapse December 22, 2021 Credit Suisse has fired staff and imposed “severe” financial penalties on various individuals, as the bank investigates the failings that led to the collapse of its Greensill-linked supply chain finance funds. The Swiss banking giant commissioned the investigation after its asset management division had to suspend a $10bn range of supply chain finance funds that [...]