UK to unveil new visa scheme for fintech workers February 21, 2021 Rishi Sunak will reportedly unveil a new UK visa scheme to help London’s fintech firms attract more global talent in the wake of Brexit. The new visa fast track scheme will give priority access to professionals in the tech industry to live and work in the UK as a part of the country’s new post-Brexit [...]
Rishi Sunak set to raise UK corporation tax in 3 March Budget February 21, 2021 Rishi Sunak is reportedly set to raise UK corporation tax in his 3 March Budget in a bid to raise an extra £12bn in government revenue. Sunak will help pay off for a further extension of the government’s Covid-19 support programmes by raising the corporation tax rate from its current 19 per cent to 23 [...]
Sunday Sitdown: Time Out boss Julio Bruno on the ‘renaissance’ of cities February 21, 2021 While no one could have predicted the outbreak of coronavirus, few companies have been blighted by worse timing than Time Out. In the face of shrinking revenue from its core events listings business, the media group has spent recent years shifting its focus to a new offering of food and culture markets. But when the [...]
No trace of coronavirus on London Tube or buses, study finds February 19, 2021 No traces of coronavirus have been found in London’s Tubes, buses and stations, according to a wide-ranging new study. Experts from Imperial College London have been taking air and surface samples from journeys on London’s transport network each month since October. Scientists mimicked a typical commuter journey on London’s bus and Tube network, and repeated [...]
London at risk of being ‘levelled down’ by pandemic, leading business groups warn Rishi Sunak February 19, 2021 A coalition of powerful business groups has urged the chancellor to outline stringent support measures for the capital, as they warned London risks being “levelled down” by the pandemic. In a letter to Rishi Sunak, the heads of groups representing more than 6,000 businesses including Heathrow Airport, the Ritz and Fortnum & Mason, said months [...]
City A.M. TV: Daily Market Snapshot (video) February 19, 2021 Momentum in markets continued to roll over yesterday, with all major US equity indices (and most sectors) closing lower. The ‘false breakout’ theme that we highlighted in yesterday’s video therefore remains intact. Of note in that respect, and as we show in today’s clip, it’s clear that, as well as weaker momentum, the ‘internals’ of [...]
Public sector borrowing hits £8.8bn in first January deficit for a decade February 19, 2021 Public sector net borrowing ballooned to £8.8bn last month, marking the first January deficit for a decade. The figure is £18.4bn more than in the same month last year and is the highest January borrowing amount since records began. Public sector borrowing is now estimated to have reached £270.6bn in the first 10 months of [...]
January retail sales drop 8.2 per cent as third lockdown takes high street ‘to the edge of the abyss’ February 19, 2021 Retail sales volumes dropped by 8.2 per cent last month, compared to December, as the third national lockdown affected sales across the sector. All sectors experienced a decline in sales last month, except non-store retailers and food stores, reporting growth of 3.7 per cent and 1.4 per cent, respectively, compared to the final month of [...]
Rishi Sunak to extend business rates relief and furlough February 19, 2021 Rishi Sunak is set to extend business rates relief and the furlough scheme into the summer, offering further support to companies battered by coronavirus restrictions. In his Budget next month the chancellor is expected to announce that the year-long business rates holiday for the retail, hospitality and leisure sectors will continue beyond the previous end-date [...]
One in four consumer-facing businesses may ditch staff if furlough ends in April February 18, 2021 A quarter of British businesses expect to fire staff if furlough is not extended beyond April, the British Chambers of Commerce said on Thursday. Results from the latest BCC survey on the impact of coronavirus shows how lockdowns have pushed businesses to the brink. Three in every five firms have seen revenue fall in the [...]