Aon’s $30 billion Willis Towers deal in EU antitrust crosshairs December 21, 2020 Aon’s $30 billion bid for Willis Towers Watson to create the world’s largest insurance broker faces a five-month long investigation after EU antitrust regulators voiced concerns that the deal may hurt competition in key markets. The merger of the world’s second and third largest brokers would overtake world No. 1 Marsh & McLennan Companies Inc. [...]
Identifying competitive advantage in international markets December 21, 2020 Today’s Small and Medium Sized Enterprises (SMEs) operate in difficult circumstances. Economic globalisation, empowered consumers and constantly evolving technology makes competing with rivals even more challenging. Overseas expansion is one way SMEs are looking to increase market share. However, selling products and services in new markets brings a host of challenges to be overcome. One [...]
US lawmakers poised to vote on $900bn stimulus package December 20, 2020 US lawmakers could vote on a $900bn (£665bn) stimulus package as early as today after Republicans and Democrats reportedly reached a compromise on Federal Reserve lending programmes. If Congress fails to act, much of the support aimed at the unemployed so far will expire. Other stimulus programmes are due to come to an end before [...]
Furlough scheme to be extended until April and loans to continue, too December 17, 2020 The Chancellor has confirmed today that the furlough scheme will be extended an extra month until the end of April 2021. The scheme had been intended to close in March, itself an extension from an original planned end date in the middle of 2020. The furlough programme pays 80 per cent towards wages of unworked [...]
Lloyd’s pledges to end investment in coal in first climate change policy push December 17, 2020 Lloyd’s of London will end investment in thermal coal-fired power plants, thermal coal mines, oil sands and new Arctic energy exploration activities as part of the market’s first ESG strategy. Lloyd’s typically has a more hands-off approach when it comes to climate change strategy. The market acts as regulator for around 100 syndicate members, and [...]
Planning for operational risk as a small business expanding internationally December 17, 2020 If there is one thing that 2020 has shown business, it is the importance of planning for operational risk. The extent of the COVID-19 pandemic has shocked the world, and many businesses had to rely on operational risk management plans to enable employees to work from home in a matter of days. What is operational [...]
Sunak: Covid schemes could stave off damage from Brexit turbulence December 17, 2020 The Chancellor Rishi Sunak has said that Coronavirus support schemes could provide insurance against the economic impact of Brexit. “For businesses that need liquidity to get through a temporary time, we’ve got very generous… loan programmes for anyone who is having trouble with costs and employment,” he told The Spectator in a wide-ranging interview. It [...]
Shock as government policy works! Why we need to keep the stamp duty holiday December 17, 2020 The stamp duty holiday is working — actually really, really well. So, of course, the government plans to reverse it shortly. Governments tax things either to raise money to spend, or to discourage you from doing them. Income tax and national insurance raise more than 40 per cent of all the annual £825bn tax revenue. [...]
Crossrail failed to carry out survey work on historic Soho venue despite ‘high risk’ to punters December 16, 2020 Crossrail failed to carry out survey work on a historic cellar bar in Soho despite receiving warnings from its own contractors that weak vaults posed a “high residual risk” to punters. The report, which was carried out in 2016 by consultants WSP and has been seen by City A.M., says that the vaults in the [...]
Snakes and Ladders: Who is moving jobs in the City this week? December 16, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City