PM to launch ‘Office for Investment’ in a bid to lure foreign investors October 12, 2020 The Prime Minister will reportedly launch a new Downing Street operation to secure foreign investment for infrastructure projects amid the UK’s economic recovery. Number 10 is working on a new “Office for Investment” which will be tasked with identifying and coordinating major infrastructure initiatives, according to Sky News. Chief among these projects will be delivering [...]
UK house prices stage rapid recovery in third quarter October 12, 2020 House prices enjoyed their strongest quarterly increase since before the financial crisis in the third quarter as lockdown restrictions eased. Prices rebounded quickly in the third quarter after the broadbased closure of the market during the previous quarter. Prices rose 3.3 per cent in the three months to September, according to the Halifax Property Index, [...]
UK’s trade deal with Japan likely to be signed next week October 12, 2020 The UK’s free trade agreement with Japan is reportedly set to be formally signed next week. The UK-Japan Comprehensive Economic Partnership Agreement (EPA) , which is the first trade deal to be signed since Britain left the EU earlier this year, was agreed in principle last month. And the two countries are hoping to formally [...]
British Airways boss Alex Cruz steps down amid industry’s ‘worst crisis’ October 12, 2020 Alex Cruz will step down as chief executive and chairman of British Airways with immediate effect, owner International Airlines Group said. IAG chief Luis Gallego said the management shake-up came as the firm navigated “the worst crisis faced in our industry” in his first major announcement since taking over from Willie Walsh. The pandemic has [...]
OECD’s digital tax proposals gain broad support, German finance minister says October 9, 2020 More than 130 countries have agreed on a plan for reforms of global corporate taxation, which is due to be discussed by G20 finance ministers next week. The OECD has been working on plans to introduce rules for businesses to pay tax where they do business rather than where they are registered. They represent the [...]
New London restrictions are ‘highly likely’, Sadiq Khan says October 9, 2020 Sadiq Khan has said it is “highly likely” that London will introduce coronavirus restrictions soon as cases across the capital continue to rise. “We are at a very serious tipping point. The virus is accelerating in every part of London”, the Mayor of London said today, warning further restrictions were “inevitable”. His warning comes as [...]
Digital wealth manager Nutmeg records eighth consecutive year of losses October 9, 2020 Digital wealth manager Nutmeg recorded losses of £21m last year as it struggled to break even for the eighth year in a row. Accounts for the year to the end of December 2019, filed on Companies House today, show Nutmeg made a loss of £21.2m, deepening last year’s losses of £18.4m. This comes even as [...]
Tracing app has sent just one alert about an outbreak in a venue October 9, 2020 The contact-tracing app for England and Wales has reportedly sent only one alert about an outbreak of coronavirus in a venue since its launch two weeks ago. The tracing app, which has been downloaded 16 million times, tells users whether or not they’ve been near someone who has tested positive for coronavirus. Its QR code [...]
TP ICAP agrees to buy Liquidnet for up to $700m October 9, 2020 Interdealer broker TP ICAP has agreed to buy Liquidnet Holdings for up to $700m as it looks to diversify its customer base. TP ICAP said it had agreed to buy the electronic trading network for a revised price of between $575m and $700m. The broker said it would hold a $425m rights issue to raise [...]
Government hands London’s heritage organisations a £103m lifeline October 9, 2020 More than 100 heritage sites across the capital are set to receive a lifesaving financial boost from the government’s Culture Recovery Fund. The Old Royal Naval College in Greenwich is among 129 recipients across London to receive a share of the £103m Culture Recovery Fund for heritage, to help them through the pandemic. The funds [...]