TikTok lays off staff while Apple and Goldman Sachs plan hiring slowdown as economic outlook dims July 19, 2022 TikTok has cut staff while Apple and Goldman Sachs will slow hiring as economic downturn concerns dampen confidence. TikTok laid off US staff and told European employees their jobs were at risk as part of a global restructuring move, the Wired reported. Some UK employees were informed that job losses will occur in several departments [...]
Steaming inflation cuts Brits’ spending power at fastest pace on record July 19, 2022 The number of Brits in full time work reached record highs in the three months to May as unemployment rates held at 3.8 per cent, official figures have revealed today.
Scenario planning on the ‘net zero’ energy transition July 19, 2022 | City Talk For investment managers, prioritising one scenario over all others can have far-reaching consequences. This is especially true when it comes to the energy transition to ‘net zero’ greenhouse gas emissions – achieving a balance between carbon emitted into the atmosphere and carbon removed from it – quite literally a hot topic at present as a [...]
Watchdog told of 650 covid breaches by senior City staff July 19, 2022 The UK’s top financial watchdog was notified of nearly 650 covid breaches by the City’s top brass during the pandemic as well as over 100 counts of bullying and racism, new figures have revealed.
London’s FTSE 100 jumps amid receding recession jitters July 18, 2022 Recession fears among investors eased today ahead of a bumper week of economic data. London’s premier FTSE 100 index jumped 0.9 per cent to 7,223.24 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.96 per cent to over 19,000 for the first time [...]
UK risks losing American investment unless post-Brexit trade disruption is fixed July 18, 2022 The UK risks forgoing a wave of US investment unless it irons out its post-Brexit trading relationship with the European Union (EU), a new report published today warned. The UK-US economic corridor remains strong, but would be strengthened by London cooling tensions with Brussels, according to a report by consultancy Bain and Company and BritishAmerican [...]
What a new world order might mean for the global economy July 18, 2022 | City Talk Russia’s invasion of Ukraine has opened fault lines between nations which will affect trade relations and investment for years to come. The war in Ukraine is already having a significant effect on inflation and activity in the world economy as commodity prices have soared and supply chains have been disrupted. Inflation in the G7 was [...]
Ageing society will lead to decades of weak growth, BoE official warns July 18, 2022 An ageing society will leave the UK economy permanently weaker over the coming decades, an official at the Bank of England said today. Speaking at the Resolution Foundation, Michael Saunders, an outgoing external member of the Bank’s monetary policy committee (MPC), warned Britain will “face increasing challenges from demographic change, because population ageing appears likely [...]
Atom Bank set for first year of profit after three quarters in the black July 18, 2022 Digital lender Atom Bank is on track to post its first full year of profits after revealing today it had spent three quarters in the black in the full year to March. The Durham-based bank, founded by chief executive Mark Mullen in 2014, notched underlying pre-tax losses for the year of £2m, a £34m improvement [...]
War for talent swells new starter City pay packets July 18, 2022 Pay packets in the Square Mile are bulging as banks, insurers and brokers try to outbid each other to lure top talent amid a tight jobs market, reveals a new survey released today. Finance workers that switch employers received an average 25 per cent pay bump in the three months to June, according to recruiter [...]
