SME crisis: Late payment of invoices and spiralling costs threaten survival of more than 400,000 small businesses January 3, 2022 Paying invoices too late is threating the survival of hundreds of thousands of small firms, a businesses group warned this morning. The Federation of Small Businesses (FSB) fears that late payments, high inflation and mounting administration for firms that trade internationally could see numbers shrink if something is not done about these issues. Of the [...]
The year of the activist shareholder: Vocal investors rebel more as FTSE companies struggle to get directors re-elected and pay approved December 30, 2021 Investors in FTSE companies are becoming more activist, with a 29 per cent jump in shareholder votes against the re-appointment of directors, according to new data shared with City A.M. In total 42 directors have been subject to major dissenting votes against their re-election, compared to 30 in 2020, according to a new report from [...]
Michael Gove urged to explain why £330,000 was spent on fixing driveway of Tory peer Lord Gage December 30, 2021 Michael Gove is urged to explain accusations his department approved £330,000 to fund pothole repairs on the driveway of a former Tory peer. The public money was spent fixing a track leading to Charleston Farmhouse, an independently-run museum and art gallery within the grounds of a country estate owned by the 87-year-old aristocrat Lord Gage, [...]
City winners: This year’s most popular funds and shares, which include BP, Rolls Royce, Tesla and Argo Blockchain December 29, 2021 DIY fund buyers didn’t get the memo that value investing is back in fashion, instead largely plumping for growth strategies over the course of 2021. “Success breeds success they say, and retail investors clearly have a high conviction that these funds will continue to prosper,” Laith Khalaf at AJ Bell told City A.M. as he [...]
Staggering 60 per cent of UK employees plan to find new job in 2022 with salary not the most important driver December 29, 2021 The so-called Great Resignation is set to continue into 2022, with a staggering 60 per cent of employees planning to leave their jobs in the next 12 months, according to a new survey shared with City A.M. This is largely a result of over 80 per cent of UK employees feeling less connected to their [...]
2021: Best year ever for UK tech sector with £26bn in VC, 116 unicorns, record London listings and more jobs December 28, 2021 The UK tech sector looks back on its best year ever, raking in £26bn in venture capital, record London listings, more jobs and the number of British unicorns climbing to 116. Success feeds cities outside London as Cambridge has become the leading regional tech city in the UK thanks to its combination of high levels [...]
Just days until LIBOR switch to SONIA: FCA measures likely to postpone potential wave of litigation, for now December 28, 2021 With the deadline for banks to stop using LIBOR as an interest rate benchmark just a few days away, new measures taken by the Financial Conduct Authority (FCA) mean a possible wave of litigation will likely be avoided for now, though it could be “a problem postponed, rather than solved”, a leading Square Mile lawyer [...]
Coronavirus D-Day as Boris Johnson holds emergency meeting to weigh fresh Covid restrictions or even new lockdown December 27, 2021 England is heading for a decisive afternoon as the Prime Minister will hold a crucial meeting later today to assess whether new or additional Coronavirus restrictions are needed to slow the rapid rise in infections as a result of the Omicron variant. Boris Johnson is due to be presented with the latest Covid data today [...]
2021 in review: Furlough is government’s big success story, but Rishi Sunak’s £69bn lifesaver comes at a price December 27, 2021 Furlough has become a household word in recent years. The scheme that protected the jobs of nearly nine million Britons at its peak has been hailed as the big success story of the Government’s Covid support measures as the jobs market rebounds at an impressive pace. The warnings of soaring joblessness that struck fear into [...]
UK to hold platinum party of the century for the Queen this June: Bigger and bolder than Victoria’s Diamond Jubilee in 1897 December 26, 2021 Britain is planning one of its biggest celebrations ever as new government plans will allow pubs, clubs and bars to stay open into the early hours over next year’s bank holiday weekend to mark the Queen’s Platinum Jubilee. Venues across England and Wales would be able to continue serving customers for an extra two hours [...]