European Commission sets aside €1bn in aid for Afghanistan and neighbour states October 12, 2021 The European Commission has pledged a further €700m to Afghanistan, taking its total funding to €1bn. Commission president Ursula von der Leyen announced the support package earlier today, as the socio-economic situation in Afghanistan has deteriorated since the fall of Kabul to the Taliban in August. “We must do all we can to avert a major [...]
Macron pledges €30bn to re-industrialise and decarbonise France October 12, 2021 French president Emmanuel Macron has unveiled a €30bn plan to re-industrialise France, pledging funds to a string of sectors from across green energy to robotics. The plan, dubbed ‘France 2030’, has placed a renewed focus on decarbonising French industry, as the country looks to become a leader in green hydrogen. Speaking at the Elysee Palace, Macron [...]
Brexit: Lord Frost to push for end of role of European Court in Northern Ireland October 12, 2021 In a speech to the diplomatic community in Lisbon later today, Brexit minister Lord Frost will warn the Northern Ireland protocol cannot survive without fundamental reform to governance arrangements. Frost is planning to set out Britain’s demands for changes to the Protocol amid a stand-off with the EU over the role of the European Court [...]
JPMorgan Chase CEO Jamie Dimon dismisses Bitcoin as ‘worthless’ October 12, 2021 Jamie Dimon, JPMorgan Chase & Co chief executive, said last night at a conference by the Institute of International Finance that cryptocurrencies will be regulated by governments, Moreover, personally Dimon thinks Bitcoin is “worthless.” Watch the full report.
UK-listed firms are most likely to pledge net zero targets, but few will reach them October 11, 2021 UK-listed firms are the most likely to have set a net zero target for their emissions output than their European counterparts, according to a new report. Though just five per cent across the continent are on track to meet their targets. The study, by consulting and outsourcing giant Accenture, found that less fossil-fuel reliant industries [...]
Watch as Sydney celebrates ‘Freedom Day’ after four months of lockdown October 11, 2021 Sydney’s cafes, gyms and restaurants welcomed back fully vaccinated customers on Monday after nearly four months of lockdown, as Australia aims to begin living with the coronavirus and gradually reopen with high rates of inoculation. Watch the full report.
Private equity salaries swell by 52 per cent to £152k as war for talent with banks intensifies October 11, 2021 Private equity firms are prepared to pay junior staff with less than two years experience an average salary of more than £152,000, a jump of 52 per cent compared to two years ago. In 2019, private equity professionals across Europe with only two years in the industry were paid, on average, just under £100,000 in [...]
IMF boss fighting for survival over China data rigging: Kristalina Georgieva’s fate to be decided today October 11, 2021 The IMF’s chief may be out of a job at the end of today as the lender’s board held an emergency meeting late last night with managing director Kristalina Georgieva to discuss allegations that, while she was CEO of the World Bank, she pressured staff to change economic data to benefit China. A decision on [...]
Mike Lynch extradition decision over $5bn fraud trial delayed October 10, 2021 The decision to extradite British entrepreneur Mike Lynch has been pushed to the end of the year after a judge delayed his decision in the separate $5bn (£3.7bn) case against Lynch by Hewlett-Packard. A draft decision, spanning over 1,000 pages, had been expected to be distributed to both Hewlett-Packard and Lynch by 24 September, according [...]
Breakthrough week for historic corporate tax deal: 140 nations including Ireland are on board October 9, 2021 The international community is moving towards sweeping changes to how big multinational companies are taxed to prevent them from stashing profits in offshore havens where they pay little or no tax after 140 countries have agreed to sign the deal. Under the agreement, countries would enact a global minimum corporate tax of 15 per cent [...]