Bank lobby chief says changes to coronavirus loan scheme may be necessary April 15, 2020 The head of Britain’s banking lobby group has said the government’s coronavirus business loan scheme may need to change in order to increase lending to smaller businesses. UK Finance chief executive Stephen Jones told the Treasury Select Committee today that the government may need to guarantee 100 per cent of loans for small businesses, instead [...]
Coronavirus: Hospitality firms on the brink of collapse as footfall dives March 15, 2020 Struggling hospitality firms could be nearing the brink of collapse due to a dive in footfall across London’s pubs and restaurants this weekend as punters stayed home to avoid the coronavirus outbreak. Hospitality companies are preparing to make redundancies as soon as this week, as visitors to London’s restaurants and bars fell 39 per cent [...]
Sunday Sitdown: ‘Skittish’ banks need to up their game, says CEO of Ezbob April 25, 2021 Following a nightmare year that was hugely disrupted by the pandemic and three subsequent lockdowns, the City is slowly switching into recovery mode as the economy starts to re-open and many sectors are coming back to life. To discuss the way back up, City A.M. sits down with Tomer Guriel, chief executive of Marble Arch-based [...]
Budget 2020: Sunak continues fuel duty freeze March 11, 2020 Chancellor Rishi Sunak has announced fuel duty will be frozen for another year. The freeze was first announced in 2010 by then chancellor George Osborne and has remained in place ever since. 36 conservative MPs had written to the Sunak asking him to keep the freeze in place. “I am pleased to announce today that [...]
DVLA says excuses for not paying car tax include too many chickens and looming jail time March 3, 2020 The Driver and Vehicle Licensing Agency (DVLA) said today that excuses it has received for not paying vehicle tax included their van being full of chickens. The agency said that inventive excuses it had received for nonpayment included: “I’m about to start a prison sentence, so is there any way you could hang on to [...]
FTSE 100 surges after restrictions ‘not as tough’ as feared but US stocks mixed September 23, 2020 The FTSE 100 jumped as it continued to recover from Monday’s rout, while US stocks were mixed as investors weighed up the chances of fresh stimulus. London’s blue-chip index was up 1.7 per cent at 5,926 points, edging it closer to the 6,000 threshold. The FTSE 250 was up 1.05 per cent. Read more: Coronavirus: [...]
The gender pay reporting rules have been waived due to coronavirus March 24, 2020 The annual reporting of gender pay gaps at UK businesses will not be required this year. The Equality and Human Rights Commission and Government Equality Office made the announcement as the country comes to terms with unprecedented restrictions to combat coronavirus. Last night, the Prime Minister announced wide ranging restrictions on social interaction to prevent [...]
In full: PM Boris Johnson’s Tory conference speech in full October 6, 2020 Boris Johnson took the stage Tuesday for the Tories’ virtual party conference, announcing policies on 1:1 teaching and low-deposit mortgages, but also promising to unleash the private sector. Here’s the text in full. Good morning conference, I want to begin by thanking you for everything you did at the election, pounding the streets in the [...]
TheCityUK boss: Banks not ‘shirking’ CBILS duty April 28, 2020 One of the City’s most senior figures has insisted banks are not “shirking their responsibilities” as the government unveiled further modifications to the controversial Coronavirus Business Interruption Loan Scheme (CBILS). Miles Celic, chief executive of industry group TheCityUK, said that banks were doing “their level best” to address demand for loans in what he called “an [...]
Sajid Javid resigns as Downing Street turf war erupts February 13, 2020 Chancellor Sajid Javid has resigned as the turf war between the two Downing Street teams erupts, prompting the pound to briefly fall. Javid was thought to be personally safe as part of today’s reshuffle. However this morning he was asked to fire two of his special advisers Mats Persson and Sam Coates. The chancellor refused [...]