Saturday Read: The City still has a long way to go as women make up less than one in four of all promotions June 18, 2022 Women still make up less than a quarter of senior promotions within financial services businesses. Of the 5,815 senior level promotions and hires that took place in the financial services sector in the last year, just 1,365 were women, or 24 per cent, based on FCA data. Despite some progress being made over the previous [...]
Run on equity release: Cash tied up in properties fund £1 in every £90 spent by retired Brits June 18, 2022 A new analysis published this week showed that equity release finances around £1 in every £90 spent by retired Brits. Total retirement spending funded by equity release could top £4bn this year and £5bn in 2025, according to modelling by the Centre for Economics and Business Research (Cebr), as homeowners increasingly look to property wealth [...]
Monzo poised to press on with crypto plans, co-founder says June 16, 2022 Monzo is likely to double down on its crypto investment plans despite a looming ‘crypto winter’, its co-founder said today.
Unilever shareholder accuses firm of concealing Ben & Jerry’s Israel boycott June 16, 2022 A Unilever shareholder has sued the firm over claims it hid the decision by its subsidiary Ben & Jerry’s to pull out from Israeli-occupied Palestinian territories.
Exclusive: Almost a quarter of firms have let staff go due to pandemic with a fifth now hiring freelancers June 16, 2022 Workers are increasingly entering unstable work patterns due firms cutting cut staff and replacing them with freelancers. Research published today and shared exclusively with City A.M. reveals 23 per cent of business owners have let permanent staff go this year, while a fifth are going for more flexible workers. The data showed 42 of freelancers [...]
UK mortgage arrears hit highest level in more than 12 years as debts to banks creep past record £2bn June 15, 2022 The value of mortgage arrears in the UK has reached its highest level since 2010, with £2.05bn of mortgage debt delinquent at the end of the first quarter of 2022, according to new data shared with City A.M. this morning. As interest rate rises and the cost-of-living crisis hit household finances, more families are now [...]
A struggle to get credit: Bank lending to hospitality nosedives following end of Covid loans CBILS and BBLS June 14, 2022 Outstanding bank lending to small businesses in the hospitality sector has fallen by more than £1.4bn since the end of CBILS and BBLS loans schemes. According to new data shared with City A.M., bank lending dropped to £14.6bn in April 2022, down from £16.08 billion in March 2021. With the cost of living crisis eating [...]
3 Tips For The Best Remote Interview You’ve Ever Had June 13, 2022 The kitchen table, a hastily cleared corner of the living room, or for the lucky ones, a spare bedroom where we could set up a desk and second screen (the unlucky ones got an ironing board). We all made do during the pandemic when it came to working from home. Now though, as remote and [...]
Weekend read: The SPAC bubble is bursting, argues Syz Bank’s investment chief June 11, 2022 With monetary policies tightening, speculative bubbles are bursting one after the other. SPACs are no exception. As a reminder, a SPAC, or Special Purpose Acquisition Company, is a company with no operational activity – an empty shell – that raises funds on the stock market with the sole objective of making an acquisition or acquisitions. [...]
Recruiters warn companies’ growth to be hit by increasing skills shortages June 10, 2022 Employers could be starting to rethink their growth plans because of continued skills shortages, research suggests. A study found a slowdown in recent increases in the number of people placed into jobs by recruitment agencies. The Recruitment and Employment Confederation (REC) and KPMG said a number of recruiters blamed candidate shortages for hampering their ability [...]
