No new 2p or £2 coins to be made for a decade September 18, 2020 The Royal Mint has no plans to make any new 2p or £2 coins for the next decade, as cash usage in the UK continues to decline. Only 30 per cent of transactions made in the UK last year used cash, compared to 60 per cent in 2009. However cash is still relied upon by [...]
Does Nvidia’s buyout of ARM signal the death knell for UK tech entrepreneurship September 18, 2020 Earlier this week, it emerged that the UK’s largest technology firm, ARM, was to be sold to US giant Nvidia. The deal, worth £31bn, led to cries from Arm founder Hermann Hauser that it would be an “absolute disaster” and would cost UK jobs. However Jensen Huang, Nvidia’s chief executive, said the deal would create [...]
An Overview of Crypto Algo Funds September 18, 2020 Digital asset funds can be the easiest way to get exposure to crypto markets with a ‘set & forget’ strategy for investors while making short and long term gains. There are serious gains to be made in this new industry, and the findings of my own journey supporting digital asset clients over the past four [...]
Investec to cut 210 London jobs as first-half profit plunges September 18, 2020 Investec today confirmed plans to cut 210 jobs in its London office as it warned profit could fall by up to 60 per cent in the first half of the year. The wealth manager and banking group said the job cuts — which equate to roughly 13 per cent of its UK headcount — were [...]
John Lewis scraps staff bonus as it crashes to £635m loss September 17, 2020 John Lewis today confirmed it will not pay a staff bonus for the first time in more than 70 years as the department store chain posted a pre-tax loss of £635m in the first half. The retailer reported a 2.7 per cent uptick in revenue to £4.9bn over the period, but said shoppers had spent [...]
Coronavirus: 700,000 jobs lost since March September 15, 2020 Almost 700,000 workers have lost their jobs since the coronavirus pandemic began in March, according to the latest government statistics. The HM Revenue and Customs and Office for National Statistics data showed early indicators for August suggest that the number of employees in the UK on payrolls was down around 695,000 compared with March. The [...]
Exclusive: No scrutiny of disgraced Liberal Democrat candidate due to ‘wealthy connections’ September 14, 2020 A disgraced former Liberal Democrat London mayor candidate was allegedly parachuted into the contest without extensive vetting in the hope she could potentially bring in vast amounts of donations and exclusive voter data to the party, City A.M. can reveal. Sangeeta Siddhu-Robb, a millionaire businesswoman, was yesterday forced to drop out of the race to be the [...]
Post Office in talks over sale of telecoms division September 11, 2020 The Post Office is said to be in discussions over a sale of its telecoms arm and is mulling a sale of its insurance business as part of a shake-up under its new chief executive. The scandal-hit company has appointed bankers to oversee an auction of its telecoms division, which has half a million customers [...]
You’re required: Alan Sugar urges public to get back to work September 11, 2020 Business tycoon Lord Alan Sugar today urged Brits to “put on a suit, put on a dress and get back to work” amid rising calls to kickstart the faltering economy. Speaking to LBC radio, Sugar said people’s resilience meant “they get back, they recover, they get over it”. “If you do the right things which [...]
Brexit: EU threatens legal action against UK after ‘seriously damaging trust’ September 10, 2020 Brussels has threatened the UK with legal action for Boris Johnson’s attempts to breach the Brexit withdrawal agreement, claiming that his actions have “seriously damaged trust between the EU and the UK”. The European Commission’s vice president Maroš Šefčovič warned Cabinet Office minister Michael Gove today that the withdrawal agreement was a “legal obligation”, and that [...]