NatWest refuses to jump on the crypto bandwagon amid money laundering charges April 26, 2021 NatWest’s reluctance to enter the crypto market should be seen as out of step with the wider financial services ecosystem, according to a leading London lawyer. Earlier this week, the bank said it has ‘no appetite’ to serve business customers which accept cryptocurrency, as the bank is taking a ‘cautious approach’ following recent money laundering [...]
Opponents hit out at Khan over pledge to scrap higher Congestion Charge April 26, 2021 Sadiq Khan has pledged to attempt to scrap the “temporary” £15 congestion charge if he is reelected as Mayor of London in May, prompting a wave of criticism from his opponents. The Labour Mayor raised the charge from £11.50 last June in order to secure a government bailout for Transport for London (TfL) amid the [...]
City PM TV: Daily Market Snapshot (video) April 26, 2021 Since early April, US equity markets have been in a persistent uptrend. That’s been is aided and abetted by (i) notable US dollar weakness; (ii) lower bond yields (resulting in tech outperformance); and (iii) a strong Q1 earnings season, with most US companies surprising markets to the upside. In that respect, and while US equity indices [...]
Side-hustle: One in five freelancers have another job alongside April 26, 2021 Nearly one in five freelancers are self-employed as a side-gig alongside an employee position, according to new research from a freelance jobs marketplace. Freelancing was the ticket out to a higher income during multiple lockdowns for many in the UK, PeoplePerHour found, as more people have turned to freelancing alongside employee jobs during the pandemic. “There [...]
Older workers in worst job market ‘since 1980s’ April 26, 2021 The Covid-19 pandemic has pushed the largest annual employment fall for older workers since the 1980s, according to a report published today. Older and younger workers have been heavily knocked by the pandemic job market, which has seen a U-shaped employment shock. “While the youngest workers have been hardest hit by the crisis, older workers [...]
The EU will sign a post-Brexit deal on financial services, PwC boss predicts, because it ‘needs London’ April 26, 2021 The EU will grant Canada access to its capital markets and agree a post-Brexit deal on financial services because it “needs London”, PwC has predicted. The financial services sector was left out of the post-Brexit trade deal agreed between the two sides last year, but the Big Four firm is predicting the [...]
Public debt: Who has lent a staggering £2.1 trillion to Rishi Sunak? April 23, 2021 Government debt has hit its highest point as a portion of gross domestic product since the early 1960s when the country was still paying off what it had borrowed to fund the fight against Nazi Germany, new figures showed this morning. Last year spending skyrocketed to pay for dozens of programmes to prop up the [...]
Exclusive: London mayor candidate faces calls to pull out for hosting antisemitic video April 23, 2021 Independent mayor of London candidate Brian Rose is facing calls to pull out of the race over a video on his website that contains a slew of antisemitic conspiracy theories by conspiracy theorist David Icke. The video in question, from 2019, features Icke telling Rose in detail about how 9/11 was a plot hatched by [...]
Extinction Rebellion activists block headquarters of Lloyd’s of London in the City April 23, 2021 Climate activists are protesting outside the office of Lloyd’s of London in the City this morning, dumping fake coal outside in front of the building as part of a campaign against insuring fossil fuel mining activities. Activists from the Extinction Rebellion group are holding up banners with slogans such as “Climate Criminals” after they dumped [...]
UK will stay financial services leader without EU equivalence deal, says KPMG boss April 23, 2021 If the UK and EU fail to agree an equivalence deal it will not be the end of the world, according to KPMG’s head of FS Karim Haji, who was feeling upbeat about the future of financial services in the UK. Haji, who was made KPMG’s head of FS in June 2019, acknowledged an equivalence [...]
