Long-term funding deal for TfL can ‘fuel’ UK recovery, says network boss January 26, 2021 Transport for London’s (TfL) commissioner this morning said that a long-term funding package for the beleaguered transport network could help fuel the UK’s post-Covid recovery. At the moment, the operator is currently being propped up by the second of two six-month bailouts worth a combined £3.3bn from the government. But come 31 March, TfL will [...]
New tall building at 55 Gracechurch Street approved as developers embrace post-pandemic office trends January 26, 2021 The City of London Corporation has today (26 January) granted planning permission for a 30-storey office-led development in the City Cluster, the Square Mile’s first tall building approval of 2021. The approved Tenacity scheme at 55 Gracechurch Street, located between Monument station and Leadenhall Market, embodies many of the emerging trends for post-pandemic office space [...]
Post-Brexit Special: Business leaders on the challenges of trading with the EU January 26, 2021 Since the start of the year, a raft of new requirements are making life increasingly difficult for UK businesses that trade with the EU. On the surface, frictionless trade should have continued, but as the UK is no longer part of the EU Single Market and Customs Union, companies have been faced with an increased [...]
UK unemployment rate jumps to highest for five years January 26, 2021 The UK unemployment rate rose to 5.0 per cent of the economically active population in the last quarter, spurred on by a record rise in redundancies. For September to November 2020, an estimated 1.72m people were unemployed, according to new figures from the Office of National Statistics. That’s up 418,000 on the same period the [...]
HSBC chiefs to face MPs’ questions over Hong Kong protesters’ frozen accounts January 22, 2021 Two HSBC executives are set to face questions from MPs next week over the bank’s stance on Hong Kong, amid mounting pressure to reverse a decision to freeze the accounts of pro-democracy activists in the region. HSBC faced backlash last summer after it issued a statement in favour of a new National Security Law in [...]
Netflix pays £3.2m in UK corporation tax as it ramps up British-made shows January 22, 2021 Netflix pays £3.2m in UK corporation tax as it ramps up British-made shows
McLaren poaches Talktalk finance chief to steer equity raise January 22, 2021 Iconic supercar maker McLaren has poached Talk Talk’s finance chief Kate Ferry as the firm continues its post-Covid restructuring programme. Ferry will take up the role of group chief financial officer at the Woking-based firm in April, McLaren announced today. She is currently handling the transformation of the listed mobile operator into a private firm [...]
Intel to probe results hack as chip demand lifts revenue January 22, 2021 Intel is investigating reports that financially sensitive information was stolen from its website last night in a hack that forced the chipmaker to release its quarterly results early. Chief financial officer George Davis told the Financial Times that a graphic in its financial report had been stolen by a hacker. “Once we became aware of [...]
UK appoints new ambassador to the EU January 22, 2021 The UK’s foreign office has appointed lifelong civil servant Lindsay Croisdale-Appleby as the country’s new ambassador to the EU. Croisdale-Appleby will take over the role, after former holder Sir Tim Barrow was shifted to a different civil service job. Foreign secretary Dominic Raab said: “As we begin a new chapter in our relationship with the [...]
Kwasi Kwarteng shouldn’t be ashamed of his free market principles January 22, 2021 New business secretary Kwasi Kwarteng MP is on paper one of the most pro-free enterprise ministers to run the Department for Business, Energy and Industrial Strategy (BEIS) in years. He takes over the role at a time when businesses, of all shapes and sizes, are struggling. Many risk closure and collapse. So, he must use [...]