UK drawing up plans for Covid-19 certificates for office workers March 29, 2021 The UK is reportedly weighing up plans to launch Covid vaccine certificates for white collar workers, which could allow people to go back to the office in large numbers later this year. A review led by Cabinet Office minister Michael Gove on the future of office working is considering implementing the certificates, which would likely [...]
Tory MPs urge Boris Johnson to scrap work from home guidance next month March 29, 2021 Conservative MPs have called on Boris Johnson to lift work from home guidance next month to speed up an economic rebound. They argue that with more than half the adult population having received a Covid jab, those who want to return to the office should be allowed to do so. Clarity is yet to emerge [...]
Markets A.M. – Attention shifts to credit data with UK-EU vaccine row set to continue March 29, 2021 US markets once again finished a rather choppy week on a high, with the S&P500 setting another new record, and both the Nasdaq and Russell 200 also posting strong gains in the last hour of trading, in a broad-based uplift across the board. In a week that saw optimism and pessimism in equal measure, stock [...]
Top City investor James Anderson gives Deliveroo the cold shoulder March 29, 2021 Deliveroo’s flotation has been snubbed again, this time by a leading tech investor who remains unconvinced by the platform’s model outside of London. The tech platform is targeting a market cap of almost £9bn in its upcoming London listing as demand soared during lockdown. The City has largely welcomed the blockbuster float as it tries [...]
Covid: UK bank lending surged £29.3bn since March, surpassing EU March 29, 2021 UK bank lending has surged by eight per cent to keep businesses afloat since the pandemic began, surpassing EU lending, according to a new study by UHY released this morning. Banks have offered around £29.3bn in businesses loans over the past year, as lending in the EU increased by an average of 5.3 per cent. [...]
Financial services firms unaware of cybersecurity risks attached to remote working March 28, 2021 As the UK starts to emerge from the pandemic the debate surrounding remote working has reared its head again. New research shows bosses are unaware of the cyber security threat attached to more employees working outside the office. As lockdown restrictions start to ease more firms are considering a pivot to a more permanent remote [...]
David Cameron gave banker Lex Greensill access to 11 government departments March 28, 2021 David Cameron gave scandal hit banker Lex Greensill access to 11 government departments to create a new cross-Whitehall financial product, it has been revealed. Greensill, whose finance firm Greensill Capital went bust just weeks ago, was brought into the upper reaches of government by then cabinet secretary Jeremy Heywood in 2012. Cameron went on to [...]
Covid-19, a year on: the need for a more diverse UK economy March 26, 2021 In this series, City A.M. looks back at the last year of the pandemic and Covid restrictions and takes stock of its impact on industries and issues at the heart of British society. Read more: Read the full Covid-19, a year on series here. The UK’s economy was hit by a 10 per cent drop in GDP [...]
Rishi Sunak: Workers will quit if they can’t return to offices, chancellor warns March 26, 2021 Employers may face an exodus of staff if they implement a permanent remote-working strategy after lockdown, the chancellor warned. Rishi Sunak said workers should be allowed to return to offices or they may “vote with their feet” and leave the firm for an employer that encourages face-to-face working. He said offices allow meetings to “happen [...]
200,000 more people furloughed last month as 4.7m are still on the scheme March 25, 2021 Another 200,000 people were put on furlough for the first time last month as the government paid out nearly £4bn to cover wages. HM Revenue and Customs (HMRC) said it had paid £57.7bn in furlough cash to around 11.4m people since the pandemic began. Around 4.7m people were still on furlough by the end of [...]