Tory central London MP calls for fresh package to support the West End June 22, 2021 A Conservative central London Tory MP is today calling for a fresh package of economic support to help the capital’s post-Covid economic recovery, with specific measures for the West End. Cities of London and Westminster MP Nickie Aiken today used a 30-minute parliamentary debate today to call for a removal of the £2m business rates [...]
UK financial sector calls for caution over any work from home law June 21, 2021 How people divide their working hours between home and office should not be forced into law, senior financial services industry officials said today. Britain has hinted that it may legislate to allow employees to work flexibly by dividing their time between the office and home, despite the government previously pushing back against suggestions that it [...]
Analysts warn Rishi Sunak: Treasury’s pensions raid could be ‘hugely risky’ June 21, 2021 The Treasury is eyeing pensions taxation as one way to pay for the cost of the pandemic, it was reported this morning. Although there are no plans to make changes to the triple lock, the Treasury is looking at three ways to change the ways in which pension contributions are taxed, which some analysts have [...]
Garden furniture prices spike ahead of another summer of garden-crawling June 21, 2021 With Covid-19 hammering hospitality spaces, garden furniture has soared in popularity in the last year, while the UK braces for another summer of garden-crawling instead of the typical pub routes. While there are still restrictions on visiting pubs and homes, many will be opting for garden gatherings over pub crawls this summer, much like the [...]
Blair think-tank: Work from home revolution could see millions of white collar jobs outsourced June 21, 2021 The relative success of pandemic-era working from home could result in as many as 6m white-collar jobs being moved overseas, Tony Blair’s think-tank has warned this morning. The last year has loosened the geographical ties of work, argues a new report from the think-tank, that makes it possible “anywhere jobs” could be done overseas. Read [...]
Exclusive: As Aviva sacks its fund managers, how to communicate such changes to shareholders? June 17, 2021 In this 2-part series, City A.M. zooms in on the relationship between investment boards, asset managers and shareholders. In the first instalment, a number of Square Mile-based investment managers discussed why and when investors come to realise the asset managers needs to be replaced, and how such decisions come about. Today, the City insiders debate [...]
Lloyd’s of London takes out £650m cover to protect emergency fund June 17, 2021 Insurance market Lloyd’s of London has taken out £650m in cover to protect its backup central fund against possible high-risk events that could cause losses. The five-year cover is financed by JP Morgan as well as other reinsurers including Berkshire Hathaway and Swiss Re, according to a Financial Times report. The central fund at Lloyd’s [...]
Pre-Fed jitters keep US stocks below record highs at open June 16, 2021 US stocks opened just below record highs today as investors stayed on the fence ahead of potential hints from the Federal Reserve on when it would taper its monetary stimulus. The Dow Jones Industrial Average was down 0.1 per cent, while the S&P 500 opened flat, remaining near an all-time time. Meanwhile, the Nasdaq Composite [...]
Sam Torrance: Phil Mickelson would be the fairytale winner but Jon Rahm has justified favourite status at the US Open June 16, 2021 Another month, another major and this time it’s the turn of the US Open at Torrey Pines. A revamped golf calendar has squeezed major season into just 15 weeks, which leaves the rest of the year a bit barren but is great when you are in the thick of it, as we are now. The [...]
Government taskforce calls for easing of UK finance regulations to ‘unlock’ £100bn in investment June 15, 2021 A government taskforce has urged Boris Johnson to shed a range of UK regulations on finance post-Brexit to “unlock” more than £100bn of investment in small businesses and high-growth tech firms. The Taskforce for Innovation, Growth and Regulatory Reform (TIGGR), led by former Tory leader Sir Iain Duncan Smith, called for changes to allow pension funds to easier invest in high-risk, [...]