Leisure spending jumps despite dip in consumer confidence October 21, 2019 Spending in the leisure sector jumped in the third quarter of the year despite a slump in overall consumer confidence driven by ongoing Brexit uncertainty. A boost in disposable income confidence, which was up one point year on year, helped to drive leisure expenditure as consumers favoured experiences over buying material goods. Read more: Consumer [...]
CFOs prioritise cost-cutting as uncertainty bites October 14, 2019 Finance chiefs are tightening their belts in an effort to weather the mounting storm of economic uncertainty. More than half of the UK’s most senior chief financial officers (CFO) are focusing on cost-control as a strong priority, marking the highest level since the end of the financial crash. Read more: Businesses can do more to [...]
Former Goldman boss Michael Sherwood joins Revolut board March 5, 2020 A former senior Goldman Sachs executive has joined the board of fintech giant Revolut, as it seeks to bolster its board in the wake of a significant investment. Michael Sherwood, the former co-chief executive of Goldman Sachs International, has today been appointed Revolut’s board as a non-executive director. Sherwood is joined by fellow new non-executive [...]
DeFi Hacks: A Cybersecurity Perspective October 28, 2020 The decentralized finance market (DeFi) has been one of the most explosive trends in the crypto industry since the ICO boom of 2017. Crypto-assets locked away in DeFi protocols over 2020 have increased by a staggering 1,740%, from $676 million to a peak of $12.44 billion – according to figures from Defipulse. This dramatic rise [...]
RSM elects new chief executive as Grant Thornton cuts wages April 21, 2020 Challenger accountancy firm RSM last night elected a new chief executive after a marathon virtual general meeting while rival Grant Thornton slashed wages to help survive the coronavirus crisis. RSM announced last night shortly before midnight that former corporate finance head Rob Donaldson had claimed the top job. The Telegraph reported that Donaldson saw off [...]
Brexit and international trade policy leader joins EY’s trade team March 2, 2020 EY has strengthened its International Trade and Brexit team with the key appointment of leading global trade specialist, Sally Jones. Specialising in trade policy, from both a global and Brexit perspective, Sally joins EY as partner and trade policy leader, having previously worked at Big Four competitor, Deloitte. Sally has worked with clients across multiple industries [...]
Budget 2020: Government announces £27.4bn roads revamp March 11, 2020 On the back of new chancellor Rishi Sunak’s announcement of £27.4bn in investment for the UK’s roads in today’s budget, the Department of Transport has published its strategy for revamping the UK’s motorways and “A” roads. The funding will go towards the both the enhancement and repair of existing roads as well as completing a [...]
Budget 2020: Chancellor introduces digital services tax March 11, 2020 Chancellor Rishi Sunak today confirmed the introduction of a digital services tax as the government looks to ensure tech giants pay their fair share of tax. The new tax, which will come into force from 1 April, will charge two per cent levy on sales for certain digital businesses. The move is set to raise [...]
Chancellor Rishi Sunak confirms 11 March Budget February 18, 2020 New chancellor Rishi Sunak has confirmed that the Budget will go ahead on 11 March. City A.M. understands Sunak, who was parachuted into the role after his former boss Sajid Javid quit last week, will not attend this weekend’s G20 meeting of finance ministers, in order to focus on preparations for the fiscal event, the [...]
Crane drain: Construction on new London offices slows to five-year low November 18, 2019 The number of new construction projects for office blocks in London has fallen by almost half in the last six months, according to data published today. Work has started on only 24 new schemes totalling 1.8m square feet (sq ft) in the capital over the last six months, compared to 37 schemes totalling 3.5m sq [...]