Fintech firm Wise confirms plans for London stock market float June 17, 2021 Fintech favourite Wise has confirmed plans to go public in what will be the first direct listing of a tech firm in London. The payments group, formerly known as Transferwise, said it has been profitable since 2017 and sales hit £421m this year. In 2021 the app moved £54.4bn across borders for 6m customers. The [...]
Sunak says pensions triple lock remains government policy as he faces £4bn bill June 17, 2021 Chancellor Rishi Sunak has said the triple lock on pensions remains government policy after it emerged that he may have to spend £4bn more on pensioners from next year if he sticks to the pledge. Sunak was grilled on the issue in an interview with GB News, after ONS data published earlier in the week [...]
Exclusive: British Business Bank could target future support towards Covid-battered sectors June 17, 2021 The head of the British Business Bank has intimated that their future loan support could be targeted on parts of the economy which have seen the biggest hit from the Covid-19 pandemic. The Bank has played a key role in the economic response to the pandemic, expanding its balance sheet from £8bn-worth of loans to [...]
Tories’ ‘triple lock’ pension pledge could cost Treasury £4bn June 16, 2021 Chancellor Rishi Sunak will have to stump up £4bn on pensioners from next year to cover the Conservative Party’s ‘triple lock’ pledge, despite efforts to cut back spending after the pandemic. The headline growth rate of average UK earnings rose to 5.6 per cent in April — an artificial inflation caused by last year’s furlough [...]
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 [...]