Corona Impact Series: How a creative workspace was dragged into a work-from-home experiment February 12, 2021 In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. This week: How a workspace provider with spaces across the UK, including in Soho and Westminster, gradually changed the work mindset of its office clients. No one could have [...]
Bitcoin + Gold = BOLD February 11, 2021 Tesla announced that they had invested $1.5bn in bitcoin and the price duly surged. Markets are more efficient than many believe, and in recent months, the bitcoin price has responded positively to known investment flows more than anything else. Back in the day, Bitcoin would spike on news that a coffee shop accepted payment in [...]
Native tokens on Cardano February 11, 2021 Last week, IOHK, developers of the Cardano blockchain, updated the platform’s ‘native tokens’ testnet. The upgrade provides multi-asset support, allowing experimenters on the testnet to test and become familiar with utilising cryptocurrencies from other blockchains on Cardano and creating their own tokens prior to mainnet deployment. The update introduces the ability to create ‘native tokens’. [...]
London pubs and restaurants face ‘bombshell’ without action on business rates, Khan says February 10, 2021 London pubs, restaurants, shops and other hospitality firms have saved more than £3bn due to the business rates holiday, it was revealed today, as pressure mounted on the government to extend the break. Figures showed that 73,140 retail, leisure and hospitality businesses in the capital had benefited from the business rates holiday during the pandemic [...]
FTSE 100 bounds ahead despite housebuilders taking a tax hit while US stocks soar February 10, 2021 FTSE 100 bounds ahead despite housebuilders taking a tax hit
UK property developers hit with new taxes to pay for unsafe cladding removal post-Grenfell February 10, 2021 Shares in major UK property developers have fallen this afternoon, after an announcement that they will be hit with new taxes to pay for the government’s unsafe cladding removal scheme. Housing secretary Robert Jenrick today announced two new taxes on UK property developers to help pay for the government’s efforts to remove unsafe cladding from [...]
Boris Johnson tells firms to ‘wait for Budget’ for verdict on business rates holiday extension February 10, 2021 Boris Johnson has said there will be no announcement on a potential extension to the business rates holiday until the 3 March Budget. The Prime Minister told MPs today that the “government is committed to supporting businesses and people’s livelihoods throughout the pandemic” and that UK businesses should “wait for the chancellor’s Budget to explain [...]
City Moves for 9 February: Who is switching jobs in the Square Mile this week? February 10, 2021 City Moves provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. This week hosts movements over at Big Four auditor Deloitte, JP Morgan, HMRC and PE firm Dean Street. Meanwhile, green London housing looks to be a focus for 2021 with Public Sector Plc’s new [...]
U.S law firm Armstrong Teasdale buys Kerman & Co in London expansion February 10, 2021 U.S law firm Armstrong Teasdale has bought City law firm Kerman & Co, adding 50 lawyers to the American firm. Kerman & Co, which is based in The Strand, specialises in corporate law, mergers and acquisitions, capital markets, commercial and intellectual property, litigation, employment and immigration, sports and entertainment and real estate. “We have [...]
Where to find shelter from rising inflation February 10, 2021 In the wake of Covid-19, investors have started debating whether long-dormant inflation risks will soon resurface. Stay-at-home orders and government spending have left consumers with extra savings and pent-up demand that could eventually drive a spending splurge. At the same time, lockdowns have kept many businesses shut, destroying capacity in some sectors of the economy [...]