New US jobless claims unexpectedly rise as election approaches October 15, 2020 The number of Americans making a new claim for unemployment insurance unexpectedly rose last week as the economic recovery stuttered, posing a problem for Donald Trump with just weeks until the presidential election. New US jobless claims came in at 898,000 in the week that ended on 9 October, the Department of Labor said today. [...]
Investment managers urged to join government’s Kickstart scheme October 15, 2020 Investment managers are being urged to support young people with work placements amid the pandemic. Investment 20/20, part of the Investment Association, is calling on the industry to provide placements for 16-24 year olds on university credit, as it announces a new initiative in support of the government’s Kickstart scheme. Last month the government urged [...]
UK slammed for ‘light-touch’ approach to gender pay gap October 14, 2020 The UK has a “light-touch” approach to gender pay gap reporting compared to other countries, according to a new report. New research by the Fawcett Society and the Global Institute for Women’s Leadership at King’s College London (KCL) found that Britain is vastly behind other nations, which have “much more robust systems” for reporting gender [...]
The DeFi Bubble and the Next Bitcoin Boom October 13, 2020 Programmers have found a way to replace the core service offerings of Wall Street and an army of corporate lawyers with 800 lines of smart contract code. The “De” in DeFi stands for “decentralized,” meaning there are no intermediaries in the process. Despite the raw and unpolished user interface, billions in assets flow through new [...]
Business bodies urge chancellor to ‘go further’ with new furlough scheme October 9, 2020 Businesses in the hospitality sector have said Rishi Sunak’s support package “must go further” to avoid wide-scale job losses, after the chancellor today unveiled a new furlough scheme for businesses facing local lockdowns. Sunak today said the government will pay two thirds of employees’ salaries to businesses forced to shutter under fresh lockdown measures. Firms [...]
Rishi Sunak extends furlough scheme for businesses facing lockdown October 9, 2020 Chancellor Rishi Sunak has extended the furlough scheme for six months for businesses across the UK required to close under local lockdowns, as further restrictions loom ahead for parts of England. Sunak today said the government will pay two thirds of employees’ salaries to businesses forced to shutter under fresh lockdown measures. Firms whose premises [...]
Peacocks and Jaeger owner files for administration, putting 24,000 jobs at risk October 9, 2020 Around 24,000 jobs are on the line as Edinburgh Woollen Mill (EMW) group, the owner of retailers Peacocks and Jaeger, has filed a notice to appoint administrators. Bosses wrote to employees this morning warning them that lockdowns across the country had battered sales, forcing the company to review the future of its business. Steve Simpson, [...]
Samaritans and the City: A message for World Mental Health Day October 9, 2020 Tomorrow marks World Mental Health Day, and this year, I can’t help but think how many lives have been profoundly altered by the shock events of 2020. I am reflecting more on what we have all learnt, about ourselves and our world. What change do we want? How can we directly contribute to making our [...]
Optimism rises among financial services firms as business volumes stabilise October 8, 2020 Optimism within the financial services sector increased for the first time in three quarters as business volumes showed signs of stabilising following the initial shock of the coronavirus crisis, a new survey showed. Sentiment among finance firms rose nine per cent in the three months to the end of September, according to the Confederation of [...]
Climate-related risk becomes leading concern for business leaders October 8, 2020 Global business leaders are becoming increasingly concerned about the risk climate change poses to business. The World Economic Forum’s risk report shows that the top risks remain related to economics, with unemployment the main concern for business executives. Previously the risk of infectious diseases had been underestimated but have inevitably jumped 28 spots and it [...]