UK PMIs: UK firms fare less badly than expected February 19, 2021 UK firms had a more positive February than anticipated so far, with firms eyeing growth prospects later in the year as the vaccine roll-out continues. The IHS Markit/CIPS purchasing managers index (PMI) jumped to 49.8 in February from 41.2 in January, a far swifter improvement than what was originally feared. The index indicated some stabilisation [...]
“Some challengers don’t want to make a profit” says Cashplus boss February 19, 2021 With plans to raise external investment and a new chairman in tow, challenger bank Cashplus is going full steam ahead just weeks after securing its full banking licence. Earlier this month the Prudential Regulation Authority (PRA) granted Cashplus a full banking license. Like its digital peers, Cashplus offers current accounts for UK SMEs, currently serving [...]
January retail sales drop 8.2 per cent as third lockdown takes high street ‘to the edge of the abyss’ February 19, 2021 Retail sales volumes dropped by 8.2 per cent last month, compared to December, as the third national lockdown affected sales across the sector. All sectors experienced a decline in sales last month, except non-store retailers and food stores, reporting growth of 3.7 per cent and 1.4 per cent, respectively, compared to the final month of [...]
Big Bang 2.0 will only succeed with a revolution in the back-office of financial services February 19, 2021 Negative news about the new post-Brexit challenges for the UK’s financial services currently dominates headlines. The market structure is still far from settled ahead of upcoming talks between the UK and the EU on equivalence. Whatever level of equivalence is agreed upon will dictate the direction for UK financial services, with some eyeing up an [...]
Posh puffer maker Moncler gets a Lunar boost to offset 2020 sales slump February 18, 2021 Posh puffer maker Moncler gets a Lunar boost to offset 2020 sales slump
Keir Starmer proposes UK ‘recovery bond’ and loans for 100,000 new businesses February 18, 2021 Sir Keir Starmer has proposed giving start-up loans to 100,000 new UK businesses and creating a new “British recovery bond” in a bid for Labour to forge a “new partnership with business”. Starmer’s set piece speech outlined his party’s new economic policy direction under his leadership, saying that “for too long Labour has failed to [...]
Exclusive: Brewin Dolphin’s CEO on Brexit, pandemic market sentiment and why ESG is not so clear-cut February 18, 2021 As the City comes to terms with a new post-Brexit reality and slowly looks towards a post-pandemic recovery, City A.M sits down with the CEO of one of the Square Mile’s best-known investment managers, Robin Beer of Brewin Dolphin. Beer, who joined the firm in 2008, initially managed the Nottingham office and was regional director [...]
Remote working will come at a cost, FTSE and S&P 500 hiring execs warn February 18, 2021 Remote working will come at a cost, FTSE and S&P 500 hiring execs warn
The future of cities: The age of urban miracles is not over February 18, 2021 Will the Covid-19 pandemic permanently derail our urban world and end the eminence of the greatest global cities, like London? The answer depends on whether the switch to working from home is permanent. Our city centres are ghostly quiet because so many of us have stopped commuting and are dialling into our jobs. But not [...]
UK house prices grow at fastest pace since 2014 – but London property slumps February 17, 2021 UK house prices grew at the fastest pace in more than six years in December, but property price growth in London slowed, according to the latest official data. The average price of a house in the UK increased 8.5 per cent in the year to December, up from 7.1 per cent in the previous months, [...]