British Business Bank’s oversight of Greensill was ‘woefully inadequate’ with £335m of taxpayers’ money at risk November 20, 2021 A new report has warned that up to £335m of taxpayers’ money is at risk due to failures by the British Business Bank to properly scrutinise bust lender Greensill Capital. The Public Accounts Committee of MPs found that the bank, which oversaw the billions lent to businesses during the pandemic in loans backed by the [...]
Inflation may have taken centre stage, but Bitcoin’s Taproot was the star of the show this week November 19, 2021 Jason Deane rounds up the week in crypto, and points to Bitcoin's Taproot as being a big deal.
Founder of tech firm where David Cameron chaired advisory board steps down after sexual assault claims November 19, 2021 The founder of a tech group at which former prime minister David Cameron was an adviser has stepped down amid allegations of sexual harassment. Zia Chishti, who founded Afiniti, was accused this week of pressuring a former employee into having sex with him on a business trip, when it was also alleged he beat her. [...]
Back in black: Bluewater owner Landsec swings to £275m half-year profit November 16, 2021 Bluewater shopping centre owner Land Securities has revealed it swung to a half-year profit as the retail sector bounces back and workers return to offices thanks to the lifting of pandemic restrictions. The group, also known as Landsec, posted a pre-tax profit of £275m for the six months to September 30, against losses of £835m [...]
City Moves: Who’s switching jobs in the Square Mile today? November 16, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Palace Capital Property investment firm Palace Capital has hired a new chief financial officer (CFO). Matthew Simpson has been promoted to the CFO position, moving up from his position as head of finance and operations. Simpson, who [...]
Future of travel special: Pent-up wanderlust, streaming and, of course, a lot of tech November 16, 2021 After three strict lockdowns, the old adage ‘trip of a lifetime’ has never been more appropriate. Nearly two years into the pandemic, constant reminders of how precious life is have inevitably left their mark, bringing an increased awareness of what really matters, which is quite a motivation for many people to stop putting off that [...]
Four Silicon Valley CAs on why its status as the world’s tech capital will remain unchallenged November 16, 2021 The pandemic saw many tech companies thrive as the world went more virtual. Despite talk of a drift away from Silicon Valley, local CAs tell Ryan Herman why its status as the world’s tech capital will remain unchallenged. This article first appeared in ICAS’s CA magazine. For Ninos Sarkis CA, there was only one place [...]
Half of UK businesses have decreased or stopped trade with EU post-Brexit November 15, 2021 Almost half of British businesses that traded with the EU pre-Brexit are doing less trade with the bloc, or have stopped entirely, since the UK left the single market and customs union in January, according to a new survey. An Institute of Directors survey, commissioned by Channel 4, out today also showed 16 per cent of [...]
Not going out: sales down 4.5 per cent for pubs, bars and restaurants November 15, 2021 The hospitality sector is struggling to bounce back from Covid-19 as Brits take a cautious attitude to spending post-lockdown. Rolling sales for managed pubs, bars and restaurants are down 4.5 per cent over the past 12 months as the sector continues to be hit hard by supply chain pressures, high energy prices and recruitment issues. [...]
Labour claims Sunak will not have the ‘fiscal headroom’ to cut taxes before next election November 14, 2021 New UK growth forecasts from the Bank of England show that Rishi Sunak will not have the “fiscal headroom” to cut taxes before the next election, according to shadow chancellor Rachel Reeves. The central bank now forecasts the UK economy will grow by 1.5 and 1 per cent in 2023 and 2024 respectively, compared to [...]