Treasury and LSE call on EU for more co-operation on financial services post-Brexit June 15, 2021 The Treasury has called on the EU to engage more deeply with the UK government on the future of financial services post-Brexit. Katharine Braddick, the Treasury’s director of financial services, said today that both parties need to “get on” with outlining the post-Brexit relationship between the UK and EU on financial services. It comes as [...]
Fintech darling Wise set to float in London ‘as soon as this week’ – reports June 15, 2021 One of London’s most prominent fintech firms Wise is set to move ahead with a planned IPO in London this week. Wise has drawn up plans to launch the listing on the London Stock Exchange, according to Sky News, in what will be a closely watched test after Deliveroo’s much-ballyhooed IPO failed to meet expectations. [...]
UK unemployment rate falls to 4.7 per cent as lockdown easing spurs hiring June 15, 2021 Britain’s unemployment rate fell to 4.7 per cent between February and April, official figures showed this morning. The rate of employment in the UK increased for the sixth consecutive month in May, with the number of payrolled employees rising by 197,000 to 28.5m. It is however 553,000 below pre-pandemic levels, where the largest falls in [...]
Michael Gove says only ‘unprecedented and remarkable’ Covid-19 change would delay 19 July ‘terminus date’ June 15, 2021 Michael Gove said 19 July is the absolute “terminus date” for ending England’s remaining coronavirus restrictions, and only an “unprecedented and remarkable” change would push it back further. The Cabinet Office minister’s comments came the morning after Boris Johnson announced a delay of four weeks to so-called “Freedom Day”, the fourth and final step of [...]
Rishi Sunak not expected to alter furlough scheme despite Freedom Day delay June 14, 2021 Rishi Sunak not expected to alter furlough scheme despite 'Freedom Day' being scrapped
Hospitality chiefs call for more clarity as ‘freedom day’ set for delay June 14, 2021 The owner of the Franco Manca Pizza chain David Page has warned the “lack of concrete delay” to the government’s lockdown easing roadmap is the biggest problem facing the hospitality sector. Boris Johnson is expected to announce a four week delay to so-called “freedom day” later today, just a week before the 21 June date [...]
IMF boss indicates opposition to Sunak’s call for City of London exemption to G7 tax deal June 13, 2021 The head of the International Monetary Fund has strongly indicated City of London firms should not be exempt from the global tax plan agreed at the G7, after Rishi Sunak called for a special carve-out for the UK’s financial services industry. When asked by City A.M. if she supported Sunak’s push, IMF managing director Kristalina [...]
BoE and BIS launch London banking hub for post-pandemic tech boom June 11, 2021 The Bank of England (BoE) and Bank for International Settlements (BIS) have launched a London coordination hub today, that seeks to coordinate central banks on technological innovation. The BIS Innovation Hub London Centre, the fourth new BIS Innovation Hub in two years, will help banks in the era of digital acceleration post-pandemic. “The UK is [...]
UK economy grew by 2.3 per cent in April as high street and hospitality reopened June 11, 2021 Britain’s economy grew by 2.3 per cent in April as government restrictions affecting economic activity continued to ease. It was the fastest monthly growth of gross domestic product (GDP) since July last year and exceeded economists’ forecast of a 2.2 per cent jump. In comparison with April 2020, monthly GDP in April 2021 is estimated [...]
Airlines bid for furlough to be extended until next May June 10, 2021 The UK airlines industry has called on the Treasury to extend furlough for sector workers until the end of April next year as the wait for the lifting of travel restrictions goes on. After weeks of speculation, the industry’s hopes were dashed in May when the government revealed that just 12 countries and dependencies would [...]