Czech billionaire set to get $750m windfall after listing lottery operator in New York April 3, 2022 Czech billionaire Karel Komárek is set to a receive a payout worth $750m (£572m), after floating the gambling company, that is set to take over from Camelot in running the UK’s National Lottery, on the New York stock exchange. Komárek is set to be the main beneficiary of a $750m cash windfall, after he lists [...]
Weekend Read: Most Brits believe their last pay rise was unfair April 2, 2022 Two in three workers think their most recent pay rise was unfair and didn’t reflect their job performance Despite this, only one in nine are actively job hunting and interviewing for a new role, new research by HR and payroll software provider CIPHR suggests. The pay rise study, based on a survey of over 1,000 employed British [...]
Euro zone inflation hits record 7.5 per cent as slowing growth puts pressure on ECB April 1, 2022 Inflation in the Euro zone soared to almost four times the European Central Bank’s target, registering at a record 7.5 per cent last month. European countries faced the prospect of slowing growth and rising costs, with the war in Ukraine continuing to put renewed pressure on gas and energy prices. The EU’s package of sanctions [...]
Prince Andrew ‘received £1m linked to Turkish fraudster’, High Court hears April 1, 2022 Prince Andrew is involved in a High Court legal row in which he is alleged to have received over £1m linked to a Turkish fraudster. The Queen’s second son and Duchess Sarah, both 62, are alleged to have taken money from ex banker, Selman Turk. It is understood, according to The Times, this includes £750k [...]
Roman ‘hole in the wall’: World’s oldest cash machine found in UK April 1, 2022 A team of archaeologists have unearthed evidence of the world’s first cash machine dating back to the Roman empire, buried for centuries in an unassuming field in Hatfield, England. The ‘noteworthy’ discovery suggests Juno Moneta, the Roman Goddess of Money and Funds, was smiling on the British Isles as early as AD 265. The discovery, [...]
UK has more than £854bn in offshore wealth, with 0.92 per cent lost from GDP March 29, 2022 UK citizens own more than £854bn in offshore wealth, ranking it fifth in Europe when measured as a percentage of lost GDP. Britain lost an estimated £19.2bn in tax because of the problem according to new research by anti money laundering group Credas Technologies, with the overall figure representing almost one per cent of national [...]
Young, female, living in London: Who are the millions of people in the capital struggling to make ends meet? March 29, 2022 Five million working people now face the prospect of being unable to meet their financial commitments, according to new research shared with City PM this morning. from Baringa, the business consultancy. In the wake of the pandemic and with inflation at a 30 year high, specific groups of workers, such as women and young people, [...]
Sir Iain Duncan Smith: ‘Sub-crisis’ emerging as loan sharks capitalise on rising cost of living March 28, 2022 With more than 1m Brits in debt to predatory illegal lenders, a “sub-crisis” may emerge as soaring costs of living heap added pressure on those with fragile finances. Former Conservative leader and ex minister at the Department for Work and Pensions, Sir Iain Duncan Smith has been campaigning. But not for an election. The veteran [...]
Top firms mull pension hikes to keep pace with inflation March 24, 2022 FTSE 100 firms are mulling discretionary pension hikes as soaring inflation threatens to outpace the rate of annual growth in payouts, according to a top pensions consultant.
Crypto scam: Pig butchering on dating sites makes the Tinder Swindler looks like an amateur March 24, 2022 City PM is increasingly receiving reports about a new crypto scam called ‘Pig Butchering’, which combines the intimacy of romance scams with the wild west of crypto cons. In this scam, the victims are referred to as pigs being prepared for slaughter: they’re raised for their meaty profit under the promise of ‘happily ever after’ [...]
