Rishi Sunak warns UK economy will ‘get worse before it gets better’ January 11, 2021 The UK’s economy is set to “get worse before it gets better”, Rishi Sunak has today warned. The chancellor told MPs this afternoon that the country’s latest lockdown has scuppered any economic recovery from last year and that the new restrictions will “have a significant impact on the economy”. The Office for Budget Responsibility (OBR) [...]
Chancellor Rishi Sunak: The City could be set for a post-Brexit Big Bang 2.0 January 11, 2021 Rishi Sunak believes the Square Mile is set for a post-Brexit “Big Bang 2.0” and that the City’s “culture and creativity” will see it to greater, global heights. In a candid interview with City A.M., the Chancellor also pushed back against criticism of the UK’s trade deal with the European Union, saying that it should [...]
Rishi Sunak: Working from home will not be the new normal post-Covid January 11, 2021 Widespread full-time working from home will not become a permanent fixture of the UK economy and central London is destined to come back to life post-Covid, according to Rishi Sunak. The chancellor told City A.M.’s The City View podcast that he’s “desperate” for “the buzz, the vitality and the creativity” that cities generate and that [...]
Rishi Sunak calls for return to ‘sustainable finances’ ahead of March budget January 11, 2021 Rishi Sunak has reiterated the need to return to “sustainable” levels of government spending as he foreshadows future Budget cutbacks. Sunak told City A.M.’s The City View podcast in an exclusive interview that the Treasury’s £280bn Covid spending over the past year was “the right thing to do”, but that “over time” he had to [...]
Apple and Amazon suspend Parler from web stores January 10, 2021 Apple and Amazon have followed Google’s lead and suspended Parler from their respective app stores over concerns that the social media platform has not done enough to regulate content inciting violence. The app, which styles itself as an “unbiased” platform, has proved popular with users who have been kicked off other platforms. The suspensions come [...]
Explainer: What the Brexit deal means for UK nationals and EU migration January 8, 2021 New immigration rules and pandemic travel restrictions are colliding to cause a bumpy start to 2021. Although the Brexit transition deadline has passed, individuals who are eligible can continue apply under the Withdrawal Agreement until 30 June 2021 in many cases. There is confusion in these early days and some airlines have reportedly refused boarding [...]
Top finance bosses expect home working and taxes to increase following Covid-19 January 8, 2021 Top chief financial officers expect flexible and home working to increase post-pandemic – with a five-fold increase in home working expected by 2025, according to a survey by Deloitte. More than three-quarters (78%) of top CFOs expected Covid-19 restrictions on movement and activity to continue through the first half of 2021, but more than half [...]
Asos to create 2,000 jobs with new UK warehouse January 8, 2021 Online fashion giant Asos has pledged to create 2,000 new jobs via a £90m new warehouse in Staffordshire, the company announced this morning. The new 437,000 square ft site in Lichfield “will serve Asos’ growing number of customers in the UK and around the world”, the retailer said in a statement. Asos has seen sales soar [...]
Top UK Treasury civil servant earns five-year reappointment January 7, 2021 The UK Treasury’s top civil servant has been reappointed for another five-year term, after impressing Downing Street with his response to the Covid crisis. Department permanent secretary Sir Tom Scholar has been one of the architects of the Treasury’s response to the Covid crisis, which has seen Rishi Sunak spend more than £300bn to keep [...]
Steve Jobs had it right: the office is a hub for creativity January 7, 2021 IN 1986 Steve Jobs became the majority shareholder of a little-known company called the Lucasfilm Graphics Group. For the small sum of $5 million, Jobs acquired a motley crew of 40 computer scientists and graphic artists. But it wasn’t long before the company started making a loss. Products weren’t shifting. Something had to give. Under [...]