Turning off support now puts at risk billions of taxpayers’ cash already spent January 11, 2022 At least we now know Number 10 can organise a p***-up, even if it wasn’t in a brewery. Some of their decision-making in recent weeks, and indeed since the start-of the pandemic, had rather suggested it was beyond them. Nowhere is that more clear than in the ongoing work from home order, which is gradually [...]
Fintech fail: Home Office bars start-ups banked with Revolut from visa sponsorship licence January 11, 2022 The fintech revolution is sweeping through Government – but it appears it hasn’t yet hit the Home Office, which bars start-ups who bank from Revolut from acquiring a vital visa sponsorship licence. Recently-founded businesses looking to gain a licence to “sponsor” foreign workers through the government’s new visa system must submit evidence of a corporate [...]
Rate lift off to boost Wall Street banks’ bottom lines this year as investors eye earnings season January 11, 2022 The US Federal Reserve flexing its inflation fighting muscles this year by hoisting interest rates rapidly is set to boost Wall Street banks’ bottom lines in 2022. The likes of JPMorgan, Goldman Sachs and Citi are in line to benefit from Fed chair Jerome Powell leading the fight against a spiralling cost of living across [...]
Buyout giants launch takeover bid for Boots January 11, 2022 Two buyout giants have teamed up to launch a multibillion pound takeover bid for high street chemist Boots, according to news reports. Bain Capital and CVC Capital Partners are reportedly putting together a joint bid for the 172-year-old chain after the firm was reported to be lined up for sale by owner Walgreens Boots Alliance [...]
Exclusive: ‘Omicron is a reminder the world is only as good as the weakest link in the vaccination chain,’ says abrdn exec January 11, 2022 Ongoing inflationary shocks, questions around interest rates and the emergence of the new Omicron Covid variant are all making navigating uncertainty more challenging. Nonetheless, when we look beyond the headlines, there remain some reasons for optimism going into 2022, according to Richard Dunbar, head of multi-asset research at global investment giant abrdn. Square Mile-based Dunbar [...]
Citadel Securities sells $1.15bn stake as it eyes up global expansion January 11, 2022 Electronic trading firm Citadel Securities as the firm reportedly gears up for international expansion.
Turn around: Steep rise in EU nationals refused entry into UK as Brexit controls tighten with Romanians half of all who are stopped at border January 11, 2022 The number of EU nationals who have been prevented from entering the UK has risen by a third, according to new data shared with City A.M. this morning. As the Home Office is stepping up controls, the number of European nationals stopped at the border climbed to 5,266 in the third quarter of last year, [...]
Morning snapshot: Your Daily Dose of pre-market news January 10, 2022 It’s Monday 10 January. Here is a quick overview of the stories that are making headlines this morning in the UK and around the world. UK POLITICS Cladding: Developers must agree a £4 billion plan to fix dangerous cladding on low-rise flats by early March or risk new laws forcing them to act, Housing Secretary [...]
Atom Bank ‘committed’ to four-day week January 9, 2022 The boss of Atom Bank said yesterday he is “utterly committed” to the group’s new four-day working week after the move sparked a 500 per cent surge in job applications and boosted staff morale. Mark Mullen, chief executive of the digital lender, said that while it was “too early to declare victory”, results of the [...]
Cardano Group grows by £18.5bn as it snaps up Dutch sustainability specialist January 7, 2022 Pensions advisory and investment specialist Cardano Group has grown its assets under management (AUM) by over £18.5bn as it completes the acquisition of a Dutch sustainable investing firm today. London-based Cardano has acquired ACTIAM as it looks to broaden its services across investment funds, corporate sustainability analysis and ESG advice. Cardano agreed a deal to [...]