Top finance brass: City grandees need to show off green stripes to rake in bonuses November 3, 2021 City grandees will need to show off their green stripes to rake in bumper bonuses, some of the finance industry’s top brass said today. The chief of one Britain’s biggest banks, part state-owned NatWest, sent a warning shot to the bank’s top dogs that their environmental track record will be considered when awarding bonuses. Speaking [...]
Breezy does it: Wind generates 20GW for the first time ever November 3, 2022 Wind power generated more than 20GW of power domestically for the first time ever yesterday, revealed National Grid.
Tory donors warn Boris Johnson that tax rises will kill off economic recovery August 1, 2021 Prominent Tory donors have urged Boris Johnson not to implement tax rises this autumn as they fear it could hamper the post-Covid economic recovery. Johnson and Rishi Sunak are expected to soon announce a 1 per cent increase in National Insurance in a bid to fix gaps in the health and social care sectors. Sunak [...]
Ed Warner: Why sport shouldn’t waste its time courting royals and politicians August 24, 2023 Politicians and royals rarely mix well with sport, so the fuss about the Prime Minister and Duke of Cambridge missing the Women’s World Cup final was classic British nonsense. In my experience, the less time spent trying to sprinkle dubious stardust on sporting events, the better. Civil servants and UK Sport spent ridiculous time that [...]
The Notebook: Dogs in the office, Next’s triumph, and the Madoff documentary January 8, 2023 The Notebook is a new addition to City A.M.’s daily offering, giving the City of London’s movers and shakers the chance to let a few things off their chest. In this first edition – it’s our editor, Andy Silvester, penning his thoughts. ONE of the things that fascinated me as a child were ant farms [...]
Bank of England delivers largest rate hike since 1989 and signals more to come November 3, 2022 The Bank of England today hiked interest rates by the largest amount since 1989 and signalled more rises are coming. The Bank’s rate setting committee voted unanimously to lift borrowing costs 75 basis points to three per cent, the highest level since 2008 and the eighth rise in a row. The pound shed more than [...]
Kwarteng: PM’s Savile slur against Starmer was ‘perfectly reasonable’ February 6, 2022 Boris Johnson’s attacks on Sir Keir Starmer over not prosecuting Jimmy Savile were “perfectly reasonable”, according to business secretary Kwasi Kwarteng. Kwarteng said “Sir Keir himself apologised on behalf of [the Crown Prosecution Service]” for not charging the UK’s most notorious sex offender and that “the fact that he apologised suggests that he does, at [...]
Mel Stride MP: It’s hard to see an ‘easy glide path’ to tax cuts November 10, 2021 The chief of an influential parliamentary committee that scrutinises the government’s spending plans has expressed his distaste at the tax burden swelling to its highest level since the 1950s. Speaking to City A.M., Tory MP Mel Stride, who chairs the Treasury Committee, expressed concerns over Chancellor Rishi Sunak’s decision to finance a ramping up of [...]
UK seals deal to end Digital Services Tax and transition to global system October 21, 2021 The UK has agreed to scrap its Digital Services Tax on online giants like Amazon in a move that will stop Joe Biden slapping tariffs on British goods. An agreement was struck with the EU and US yesterday on how to transition from the Digital Services Tax to a new global system agreed by G20 [...]
Government interest bill hits highest ever level for a January February 22, 2022 The government’s interest bill swelled to its level ever for a January since records began in the late 1990s as inflation burns a hole in the UK’s public finances. The amount the government spent on servicing its debt hit £6.1bn last month, up £4.5bn over the last year, according to the Office for National Statistics [...]