Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Goldman Sachs ‘to pay $2bn fine’ in US Justice Department 1MDB probe October 20, 2020 Goldman Sachs has reportedly struck a deal with the US Department of Justice to pay more than $2bn (£1.54bn) over its role in the Malaysian 1MDB scandal. The agreement will let Goldman Sachs dodge a criminal conviction, Bloomberg reported. The news outlet said the fine may be announced within days. The deal would bring to [...]
Housebuilder Bellway restarts dividend as new orders jump October 20, 2020 UK housebuilder Bellway has resumed the payment of its dividend after the recent surge in housing market activity helped push up forward orders by 43 per cent. The group reported that pre-tax profit fell to £236.7 in the year ended July. That compared to £662.6 a year earlier. However, the future is looking brighter amid [...]
Exclusive: South London boroughs lead house price charge October 20, 2020 The south London boroughs of Merton, Croydon and Kingston saw the fastest house price growth in the year to August as the capital’s property market remained surprisingly buoyant, according to exclusive analysis by property website Zoopla for City A.M. Price growth was much slower up in Hillingdon, Barnet and Brent, however, reflecting big differences within [...]
FTSE 100 goes in reverse as sterling strengthened while Covid restrictions increased October 19, 2020 FTSE 100 goes in reverse as sterling strengthened while Covid restrictions increased
Tiered coronavirus restrictions hit UK high street shopper numbers October 19, 2020 The UK’s new tiered coronavirus restrictions contributed to a drop in footfall at retail sites across the country last week, in a worrying sign for the shaky economy. Visits to high street shops and malls fell 3.1 per cent in the week ending 17 October, according to data company Springboard. It was the fourth consecutive [...]
Pound jumps on signs a Brexit deal can still be done October 19, 2020 The pound surged as investors bet that Brexit talks would resume – despite the UK’s tough rhetoric – and eventually result in some kind of free-trade agreement. Sterling was up 0.7 per cent by mid-morning at $1.30. It had risen 0.5 per cent against the euro to stand at €1.107. Prime Minister Boris Johnson struck [...]
Boohoo kicks off search for new auditor as PwC steps down October 19, 2020 Controversial fast fashion retailer Boohoo (BOO) has launched a search for a new auditor, with PwC stepping down in the wake of a report into abuses in the clothes company’s supply chain. Boohoo said in a statement that it had “recently launched a competitive tender process for the group’s audit”. It said that PwC – [...]
Vacancies drop as three tier system comes into place October 19, 2020 Job vacancies fell in the first full week of October, according to new data that paints a worrying picture about the economy’s direction of travel this winter. Employment openings fell six per cent week on week in the seven days that ended on 11 October, data from the job board network Broadbean Technology showed. According [...]
PM threatens to ‘intervene’ over Manchester’s Tier 3 lockdown refusal October 16, 2020 Prime Minister Boris Johnson has urged Manchester’s mayor Andy Burnham to “reconsider” his opposition to new coronavirus restrictions, and said he would “intervene” if progress in talks is not made. Burnham has resisted the government’s plans to put Manchester under “high alert”, meaning it would face the tightest restrictions. The Labour mayor has argued that [...]
FTSE 100 and US stocks climb as investor fears ease October 16, 2020 The FTSE 100 rebounded as investors returned to risk assets, having dumped them yesterday amid worries over new coronavirus restrictions, while US stocks rose on vaccine hopes and upbeat retail sales data. London’s main stock index climbed 1.7 per cent in afternoon trading to stand at 5,929 points. That followed a 1.7 per cent tumble [...]
