Unlocking potential: A call to action for Social Mobility May 9, 2024 The macro challenge: worsening global income inequality We have an income inequality crisis and the trend is worsening. Income inequality, that is the unequal distribution of income throughout a population, has become a ubiquitous challenge on a global scale; it is one of the Social Megatrends in the realm of ESG and sustainability. The UK [...]
Santander slapped with £108m fine by FCA for anti-money laundering failures December 9, 2022 Santander has been fined more than £107m by the Financial Conduct Authority for anti-money laundering failures. The banking giant will have to pay £107,793,300 to the watchdog after it was found to have “serious and persistent gaps” stopping the scourge. FCA found that between 31 December 2012 and 18 October 2017, it didn’t properly oversee [...]
Banks face tougher competition as profits boost from higher rates fades October 30, 2023 The UK’s major listed banks have warned that the tailwind from high interest rates that has driven bumper profits over the past year is coming to an end as lenders compete to offer better deals to customers. Barclays, Lloyds, NatWest, Standard Chartered and Santander reported third-quarter earnings last week, while HSBC released its results today. [...]
Liverpool beaten 3-1 by buzzy Brentford in Premier League January 2, 2023 Liverpool’s hopes of closing the gap to the Premier League top four took a blow tonight as they were beaten 3-1 by Brentford at the Gtech Community Stadium in London. The Bees netted through an Ibrahima Konate own goal before Yoane Wissa doubled their lead. Alex Oxlade-Chamberlain cut the deficit but Bryan Mbeumo scored to [...]
BBC calls for more funds to battle Netflix December 7, 2022 The BBC have called for “serious public service investment” if it is to stand a chance against the likes of Netflix and Disney Plus. BBC Director-General Tim Davie said that the broadcaster needs more dosh to “avoid further cuts” and to survive what he called a “period of real jeopardy” for the media landscape. Speaking [...]
PwC global digital assets chief leaves to launch ‘crypto asset manager’ August 4, 2022 The head of PwC’s crypto business has left his position at the Big Four accountancy firm to launch his own “crypto asset management firm” with a view to drawing institutional investors into cryptocurrencies. The new fund, Nine Blocks Capital Management, is set to use a $75m initial investment from Hong Kong fund Nine Masts, to [...]
Sadiq Khan refuses to ditch ULEZ expansion plan at London budget meeting February 23, 2023 Sadiq Khan has refused to ditch the expansion of the Ultra Low Emission Zone (ULEZ) today following a marathon five-hour meeting to agree London’s £19bn budget. London assembly members met today to agree the mayor’s plans for running the capital’s finances over the next year – including cash for the Met Police, TfL and firefighters. [...]
Clifford Chance paid working class staff 44.1 per cent less than employees from professional families April 6, 2022 Employees at Magic Circle law firm Clifford Chance, whose parents work as plumbers, electricians, or train drivers, took home significantly less pay in 2021 than staff whose parents work as teachers, accountants or solicitors. Clifford Chance employees from working class families earned 44.1 per cent less last year than staff at the law firm from [...]
Google snaps up cybersecurity firm Mandiant for £4.1bn March 8, 2022 Alphabet’s Google has snapped up cybersecurity firm Mandiant for $5.4bn (£4.1bn) in cash as the company expands its thriving cloud business. Google’s offer of $23 per share is at a premium of about 53 per cent to Mandiant’s stock price before a report that said Microsoft was eyeing a deal to buy the company, Reuters reported this morning. It [...]
BEIS Select Committee raises alarm bells over UK’s ‘dire’ climate progress report June 29, 2022 BEIS has raised alarm bells over a key report on Government’s progress to net zero, deeming it "dire", and "catastrophic for the country/