Tube and rail strikes THIS WEEK: How will industrial action affect London commuters and hospitality? March 11, 2023 Parts of Britain’s rail network – including London’s underground system – will be closed during next week’s Budget day strikes, bringing the country to a standstill and hitting hospitality hard. Hospitality bosses have warned the impact of the strikes will hit pubs, bars and restaurants hard, with an estimated £2.5bn having already been lost in [...]
Saturday could be All Riches for Yiu and Leung backers March 10, 2023 AFTER a number of shock results at the mid-week meeting at Happy Valley, local bettors will have breathed a sigh of relief to see their favourite jockey Zac Purton back in action on the 10-race card at Sha Tin on Saturday. The reigning champ, who was side-lined for two-meetings for a careless riding offence, which [...]
The Oscars 2023: Who’s going to win? (And who should win?) March 10, 2023 A quick quiz for you: off the top of your head, how many winners from last year’s Oscars can you name? 2022’s ceremony will be remembered for Will Smith slapping host Chris Rock, an event that overshadowed the actual awards, not leat his crowning moment when he was awarded Best Actor later in the night. [...]
Sunak and Macron strike deal: Britain to pay France £500m in bid stop small boat Channel crossings March 10, 2023 Britain will pay France nearly half a billion pounds over the next three years to step up efforts to prevent small boats from crossing the Channel, Rishi Sunak has announced. The Prime Minister committed to sending Paris £478 million (541 million euro) to fund a new detention centre in France and hundreds of extra French [...]
Rules protecting consumers will mean fewer mortgage applications, finance leader warns March 10, 2023 A new consumer duty placed on financial firms could lead to lenders being more cautious and fewer people able to access a mortgage, the chief executive of trade association UK Finance has told an industry gathering. David Postings told UK Finance’s annual mortgage lunch in London that the measure is a “well-meaning idea”. He said: [...]
BP boss Looney’s pay doubles to £10m – 170 times more than his average employee March 10, 2023 The boss of BP earned more than 170 times more than his average employee last year as his pay doubled to around £10 million after the company benefited from the Russian full-scale invasion of Ukraine. New figures from the oil giant showed that Bernard Looney’s total pay packet increased from around £4.5 million in 2021. [...]
If you can’t afford your mortgage: What the FCA’s lender guidance means for borrowers March 10, 2023 Successive interest rate rises are increasing mortgage costs for millions of borrowers, according to both regulators, lenders and advisers. One of the main City watchdog shas estimated an extra 356,000 mortgage borrowers could face payment difficulties by the end of June 2024, in addition to those who are already behind. The Financial Conduct Authority has issued final [...]
Over 50s aren’t staying out of work because they’re sick – it’s because they’re rich March 10, 2023 Britain’s stagnant workforce, with 270,000 economically inactive over 50s, is keeping our productivity down. But to get them back in the labour market, we need to let them stay out of the office, writes Ben Cope.
Londoners most at risk of being among the 350,000 UK borrowers who will struggle to repay their mortgage, regulator warns March 10, 2023 An extra 356,000 mortgage borrowers could face payment difficulties by the end of June 2024, in addition to those who are already behind, according to the City regulator. This has been reduced from a previous estimate made last September that an additional 570,000 mortgage borrowers could become financially stretched by the end of June 2024, [...]
The Square Mile and Me: Tavier Taylor on Texas, job interviews and Pilates March 9, 2023 We dig into the memory bank of the City’s great and good: this week it’s the Chartered Management Institute’s tech chief Tavier Taylor. What was your first job? I grew up in Texas and my very first “real” job – not counting underage babysitting at the age of 11 – was at Popeye’s Chicken on [...]