Climate change and the humble auditor – CityAM : CityAM November 8, 2021 The relevance of climate change to world leaders, Royals, activists, Leonardo DiCaprio, chief execs and both former, and current central bank heads, is largely understood, by their presence at Cop26, to be of paramount importance. But what on earth auditors have to do with climate change, is rather more perplexing. One explanation is that audit [...]
Whistleblowing reports of minimum wage violations fall thanks to furlough scheme November 8, 2021 The number of whistleblowers reporting businesses for breaking national minimum wage laws has dropped to its lowest in four years, with the furlough scheme considered a key driver of the change. Whistleblower reports of national minimum wage (NMW) violations fell to 2,488 over the year, down from 2,580 last year, according to law firm Pinsent [...]
Chancellor unveils £5 coin to commemorate Gandhi November 4, 2021 The Chancellor has unveiled a commemorative £5 coin that pays tribute to Mahatma Gandhi. The coin is part of the Royal Mint’s wider collection focused on the Hidnu festival of Diwali. It depicts India’s national flower the lotus and goes on sale today (Thursday November 4). The special collectors’ coin was designed by Heena Glover [...]
Mark Kleinman: Will Barclays be able to explain their backing for Staley? November 4, 2021 Sky News’ Mark Kleinman is the man the City reads – and in his fortnightly column for City A.M., he shares his insight and analysis. Barclays in the headlines again What is it about Barclays and rough-Diamond bosses? In the end, the surprise was not so much that Jes Staley left the British bank mired [...]
More than half FTSE100 firms commit to ending carbon emissions by 2050 November 4, 2021 Almost two-in three FTSE100 firms are now committed to ending their carbon emissions by 2050, after a new group of companies recently signed up to a United Nations campaign. Sixty FTSE100 firms have now signed up to the UN’s Race to Zero campaign, with bluechip companies like Barclays, AstraZeneca, Coca Cola HBC and HSBC all [...]
Top finance brass: City grandees need to show off green stripes to rake in bonuses November 3, 2021 City grandees will need to show off their green stripes to rake in bumper bonuses, some of the finance industry’s top brass said today. The chief of one Britain’s biggest banks, part state-owned NatWest, sent a warning shot to the bank’s top dogs that their environmental track record will be considered when awarding bonuses. Speaking [...]
Boris’ tax mania could push British business into Labour’s open arms November 3, 2021 An exec recently recalled a meeting between banking bosses and ex-Shadow Chancellor John McDonnell when it looked like Labour may just seize power. As the suits traipsed into a room the Marxist quipped: “Don’t worry. We’re not sending you to a re-education centre in Doncaster … yet.” He also promised to whack corporation tax up [...]
Brace for rate hikes and tapering from BoE and Fed November 3, 2021 Just as the dust settled on Chancellor Rishi Sunak’s third budget, the City turned its attention to more set piece economic announcements. Today and tomorrow, the US Federal Reserve and the Bank of England will deliver two of the most hotly awaited interest rate decisions in years. The latter is expected to hike interest rates [...]
Sunak hails avoiding joblessness spike after furlough end November 2, 2021 The end of the furlough scheme is unlikely to trigger a surge in unemployment, according to the Chancellor. Speaking to a committee of members of the House of Lords, Rishi Sunak said he was “optimistic” the end of the job support scheme would not result in a wave of job losses. There were concerns the [...]
Cop26: Sunak to force all UK financial firms to publish net-zero transition plans November 2, 2021 The UK’s financial institutions and listed firms will soon have to publish strategies on how they will transition to net-zero by 2050 as Rishi Sunak today unveiled his plan to make Britain the world’s first “net-zero financial centre”. The chancellor today said great efforts have been made to “rewire the entire global financial system for net [...]