City figures warn London’s financial crown at risk if UK does not roll out digital Sterling August 18, 2021 City figures have warned that London’s status as Europe’s financial capital will be in serious jeopardy if the Treasury and Bank of England are slow to introduce digital Sterling. Rishi Sunak said last month that the Treasury was looking into one day releasing a so-called “Britcoin”, but that no decision had been made. Sunak said [...]
The City View: Offshore Energies UK CEO on deleterious effects of a windfall tax May 25, 2022 Today Andy Silvester chats to Deirdre Michie, CEO at Offshore Energies UK. They unpick the windfall tax, the risk it poses for smaller energy firms and the sector in general, the state of the energy industry, and the seemingly lackadaisical speed of the energy transition. In other news: M&S is leaving its Russian franchise business, [...]
Deloitte warns of heightened going concern risks as pandemic rumbles on November 10, 2020 Big four audit giant Deloitte has warned there is likely to be more reporting of uncertainties relating to going concern as unpredictability surrounding the pandemic continues. Deloitte audit partner Ann Aspinall told City A.M. that as uncertainties around the pandemic continue and as the economic environment becomes more challenging, “there is likely to be an [...]
Auto industry calls for battery gigafactory push ahead of Nissan announcement June 29, 2021 The UK auto industry has today called for the government to invest in a string of battery gigafactories or risk tens of thousands of job losses. The calls come amid reports that car giant Nissan will this week lay out plans to build such a plant in Sunderland, in what would be a huge vote [...]
UK mortgage approvals soar to highest level since before 2008 Global Financial Crisis January 4, 2021 UK home lending defied expectations of a slowdown in the housing market boom that started after the first Covid-19 lockdown
Biden the bullet: US President-elect unveils $7 trillion coronavirus recovery package November 16, 2020 US President-elect Joe Biden has unveiled details of his $7 trillion coronavirus recovery package, as the Democrat lays the groundwork for America to “Build Back Better” from the worst Covid death toll in the world. Biden today announced his administration would invest $300bn in “the most critical competitive new industries and technology” to help the [...]
Brits put Dry January on ice as alcohol sales boom in first week of latest lockdown January 13, 2021 Brits have seemingly given up on Dry January this year as supermarket alcohol sales have soared in the first week of lockdown. The month-long stint of alcohol abstinence has been put on hold for many people, according to the latest Waitrose sales figures. The grocer said wine sales are up 27 per cent and beer [...]
UK house prices recover from lockdown to hit all-time high in August September 2, 2020 UK house prices recovered from a lockdown-inspired dip to hit an all-time high last month. Annual UK house price growth picked up 3.7 per cent in August, according to Nationwide’s house price index. Prices rose two per cent month-on-month, after taking account of seasonal factors. The average UK house price rose to £224,123, up from [...]
Share of Brits working from the office rises to pre-lockdown level, as remote working appeal fades March 5, 2021 Share of Brits working from the office rises to pre-lockdown level
Covid: UK R rate rises despite lockdown measures March 5, 2021 The UK’s R rate has crept up slightly, despite Covid cases falling to their lowest level since September amid nationwide lockdown measures, according to the latest official figures. The rate of reproduction of coronavirus now stands at 0.7 to 0.9, meaning every 10 people infected will likely infect between 7 and 9 other people. The [...]