Lex Greensill boasted of company’s ‘enormous’ liquidity before collapse April 7, 2021 Lex Greensill boasted to staff that his company had “enormous” liquidity just three weeks before the finance firm collapsed into insolvency, according to reports. The Australian financier reassured Greensill Capital staff in an internal video on 15 February that a funds held by Credit Suisse were robust, the Financial Times reported. “We’ve got enormous amounts [...]
Net zero front and centre in G7 meeting hosted by Sunak April 6, 2021 Chancellor Rishi Sunak chaired a meeting with his G7 counterparts today, where the importance of achieving net zero emissions targets were the main focus of discussion. The meeting, which Sunak hosted alongside Bank of England governor Andrew Bailey, will be the first in a series taking place this week. In a statement the Treasury said: [...]
The multi-billion-pound pot that could be fuelling Britain’s green recovery April 6, 2021 As the Government pushes on to Build Back Greener, capital invested via the investor visa route should be considered as another means of directly supporting the UK’s sustainable recovery. Finding a pound down the back of the sofa used to be one of those small life wins. Now imagine it’s closer to £1bn – and [...]
The City View podcast with Tim Ashley April 6, 2021 In this episode Andy Silvester talks to asset manager Tim Ashley – but rather than funds, it’s whisky that Tim manages. He’s a Director at VCL Vintners, who’ve turned whisky collecting into smart investment. Andy also speaks to Hargreaves Lansdown’s Susannah Streeter about big news from both Deliveroo and Next. Read more: Andy Silvester sits [...]
Government resists calls for Eurostar bailout despite £400m debt pile April 6, 2021 The government has resisted calls for a bailout for cross-Channel train operator Eurostar, despite the company teetering towards bankruptcy. Eurostar has until June to repay £400m loans that it took out to bolster a collapse in revenue after passenger numbers plummeted during the pandemic. Chancellor Rishi Sunak last year unveiled a scheme called Project Birch to [...]
UK launches £75bn Covid Recovery Loan Scheme April 6, 2021 Businesses will from today be able to apply for new government-backed Covid-19 “recovery loans” through a £75bn scheme. The new loan programme will see businesses able to apply for loans of between £25,001 and £10m, with the government taking on 80 per cent of the default risk of each loan. The new loan scheme, announced [...]
Whitehall agrees deal to set up hybrid offices as civil servants push to keep remote working April 5, 2021 Whitehall agrees deal to set up hybrid offices as civil servants push to keep remote working
Sunak questioned over Greensill Capital’s links to Covid loan scheme April 5, 2021 Greensill Bank clients get $3bn payout as Labour puhes for tighter lobbying rules after David Cameron lobbying probe
Screenshot: Will London ever be ready for tech IPOs? April 2, 2021 This week **Media Moment of the Week: Volkswagen’s awkward U-turn **Will London ever be ready for tech IPOs? **Amazon goes bonkers for bots Media Moment of the Week: Volkswagen’s awkward U-turn There are few things as grating as the forced joviality of April Fool’s Day and it should, in this writer’s opinion, be cancelled. That [...]
Glastonbury to be handed cash boost in latest Covid culture funding April 2, 2021 Glastonbury will be handed £90,000 in government support as part of the latest tranche of emergency funding aimed at supporting Britain’s struggling cultural institutions. The iconic festival, which has been cancelled this year but will host a livestream performance in May, is one of more than 2,700 organisations to share in a £400m pot of [...]