Post-Brexit payments space is ‘breeding ground for financial crime as Wild West culture’ looms, warns rising City star November 16, 2021 After the UK left the European Union, a range of payment providers reported so-called IBAN discrimination as a number of companies across Europe began to refuse Euro account bank details if they contained the country code ‘GB’. As a result of Brexit, sending a payment to Eurozone countries resulted in additional charges. Whilst the fee is [...]
‘It’s a pivotal time’ November 16, 2021 | Sponsored Interview with Simon Kenyon, Group Ambassador for London, Lloyds Banking Group Taking the pulse of London’s financial health is not easy: for every business that’s thriving, or at least showing ‘bouncebackability’ from the pandemic, there are others struggling to keep the wolf from the door. But the economic pulse is beating a little faster inside the [...]
£11.05 per hour in London: 300,000 Brits get pay rise following hike in real living wage November 15, 2021 The new hourly Real Living Wage rate will be £11.05 in London and £9.90 outside the capital from today, increases of 20p and 40p respectively, it was announced. As a result, more than 300,000 workers are set to receive a pay rise as higher rates were announced for the Real Living Wage, a voluntary rate [...]
Exclusive: More than half of all UK small businesses rely on credit to pay for insurance November 14, 2021 Nearly six in ten small business across the UK rely on credit to pay for their insurance, borrowing on average around £1,832, according to new research that was exclusively shared with City PM this weekend. Some 16 per cent of SMEs claim to be using over £3,000 of credit a year to buy their cover, [...]
Workers who were furloughed six times more likely to lose job November 14, 2021 Workers who were furloughed are six times more likely to have lost their jobs than other employees, according to new research shared with City PM this morning. The study among 6,100 adults indicated that around 136,000 workers moved from furlough to either unemployment or inactivity. But the end of the Coronavirus Job Retention Scheme (JRS) [...]
A bank to bridge the gap November 12, 2021 | Sponsored Eleven months after the announcement of a new national infrastructure bank it made its first investment. Can this new institution follow the success of its predecessor the Green Investment Bank and have a real impact on a green future. Our Green Finance Forum panel discusses. Level up On October 25th this year, the UK National [...]
Universities pay vice-chancellors more than £500,000 as generous packages include bonuses and benefits November 12, 2021 Three universities in England paid their vice-chancellors £500,000 or more in salary, bonuses and benefits last year, figures show. Data from the Office for Students (OfS) shows that 1.8% of university staff received a basic salary of £100,000 or more in the academic year 2019/20 – up slightly from 1.7% in 2018/19. But the proportion [...]
From drivers to prison officers: Rapid jump in job adverts as vacancies climb to 2.7m November 12, 2021 Rising demand for driving instructors, prison officers and forklift truck drivers is helping to fuel an increase in job adverts, new research suggests. Around 221,000 new job adverts were posted in the first week of November, the fourth highest weekly figure since the start of 2020, taking the total to nearly 2.7m, according to the [...]
Targeting globally comparable disclosure standards November 11, 2021 | Sponsored Companies and consumers are increasingly looking beyond climate change as they consider wider environmental social and governance issues. A supportive regulatory foundation therefore is needed to help the financial sector to respond effectively. It’s not only ethically minded consumers that want to know the source and environmental and human impact of products that they buy, but [...]
Don’t forget smaller companies while you are thinking big November 11, 2021 While world leaders and sustainability champions have been thinking about big solutions to the climate crisis in Glasgow, we’ve been appealing to them to also Think Small. For every government and large corporate making pledges to reduce carbon consumption, there are hundreds of small and medium businesses (SMBs) in their supply chains. These smaller enterprises [...]
