Pace of foreign investment into UK to slow in next 12 months November 19, 2020 Fewer companies are planning to invest in the UK in the next 12 months than were planning to do so back in April, new data has revealed. Accountant EY’s UK Attractiveness Survey shows that the proportion of companies planning such investment has fallen from 10-year highs of 31 per cent in the spring to 25 [...]
Snakes and Ladders: Who is moving jobs in the City this week? November 18, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This week, [...]
UK house prices surge to record high in September November 18, 2020 UK house price growth accelerated in September, driving average property prices in London and across the UK to a record high. House prices across the UK increased by 4.7 per cent to £245,000 in the year to September, up from three per cent growth in August. London’s average house prices hit a record high of [...]
Trends in Ethereum DeFi in Q3 2020 November 18, 2020 Three trends defined Ethereum DeFi in Q3 2020: 1) The Rise of Automated Market Makers (AMMs) 2) Governance tokens and yield farming 3) Forks, derivatives, and network effects 4) and “weird DeFi.” The Rise of Automated Market Makers (AMMs) The trend: While stablecoins and lending platforms have long been the centers of activity in the [...]
Exclusive: UK investors turn to property as they brace for a recession November 17, 2020 UK investors worried about the government’s handling of the pandemic and Brexit are turning to property as they brace for a recession. A survey of over 1,000 investors by FJP Investment reveals nearly two thirds – 62 per cent – are concerned that the government’s mishandling of the pandemic will result in a long-term recession. [...]
Airbnb reveals deeper loss ahead of stock market float November 17, 2020 Airbnb today revealed it has suffered deeper losses this year as a result of the Covid-19 pandemic, as it unveiled the prospectus for its eagerly-awaited stock market listing. The holiday rental company posted a loss of $697m (£527m) on revenue of $2.5bn in the nine months to the end of September, a widening of the [...]
Gap between rich and poor grows despite jump in savings ratio November 16, 2020 The wealth gap between rich and poor people in the UK is widening as a result of the ongoing coronavirus pandemic and the ensuing lockdowns, according to an Oxford-based think tank. Research from the Centre for Enterprise, Markets and Ethics has found that a third of British people now have less than £1,500 in the bank, [...]
Exclusive: Building societies slash business lending by a third November 13, 2020 Building societies have slashed their business lending by a third in the five years, City A.M. can exclusively reveal. According to new figures from accountants BDO, the amount of money lent by the UK’s biggest building societies has dropped from £11.8bn in 2015/16 to just £7.9bn last year. The fall in lending comes at a [...]
Building consensus on London’s housing priorities November 13, 2020 The housing market has the potential to play a significant role in the UK’s economic and social recovery from the pandemic – but housing in London faces a mounting number of challenges and uncertainties in doing so. That was the verdict of a roundtable held as part of a UK-wide initiative by Lloyds Banking Group [...]
DEBATE: Will the National Security and Investment Bill make it harder for the UK to remain a business hub? November 13, 2020 Max von Thun, senior associate at political advisory firm Global Counsel, says YES. Under the screening regime proposed by the new National Security and Investment Bill, a much higher number of deals will be subject to potential government intervention on national security grounds for up to five years after they have taken place. In addition [...]