Sadiq Khan launches £1m Resilience Fund for London’s post-pandemic recovery December 4, 2020 The Mayor of London announced the launch of a £1m Resilience Fund, partnering community groups and innovation experts to tackle London’s most pressing challenges. The Resilience Fund will be delivered in partnership with Nesta Challenges, an innovation foundation. Local authorities, public agencies, social enterprise will be asked to identify specific challenges they need solved. Sadiq [...]
Salaries to increase next year as companies move to lift pay freezes December 3, 2020 UK private sector workers are set to receive average pay rises of 2.4 per cent in 2021, according to data released by Willis Towers Watson this morning. The number of UK companies expecting to freeze pay is expected to fall sharply next year, in a further sign of cautious optimism for 2021. The more upbeat [...]
Foreign direct investment in UK to slow as investor priorities shift November 30, 2020 Foreign direct investment (FDI) is set to slow over the next 12 months, as Covid-19 impacts financial services firms’ investment plans in the UK. Last year investor sentiments placed financial services as the driving force of UK growth – the sector attracted 99 projects, equating to more than a quarter of all FDI in Europe, [...]
UK has ‘significant’ ethnic wealth gaps, latest data suggest November 27, 2020 Wealth in the UK is divided along ethnic lines, the latest data from the Office for National Statistics suggest. White British headed households were the wealthiest ethnic group, according to data collected between 2016 and 2018. White households had a median net worth of nine times that of Black African households, the least wealthy ethnic [...]
Think short-term for lockdown but not for investing November 25, 2020 | City Talk The UK’s second lockdown means everyone’s winter plans have been torn up and thrown away. Even seemingly modest weekend activities – going to a museum, meeting a friend for lunch – are now off the table. As many of us learnt during the first lockdown, the trick is to focus on what is possible in [...]
Buying the hype – Are baskets a solution to bubbles? November 17, 2020 | City Talk The events and turbulence of this year need no explanation. The global pandemic, US election and everything in between have sent dramatic waves across the markets. With so much volatility and uncertainty rocking the markets, stocks have continued to break records and climb to new highs and equal lows throughout the year. In response, increasing [...]
Gap between rich and poor grows despite jump in savings ratio November 16, 2020 The wealth gap between rich and poor people in the UK is widening as a result of the ongoing coronavirus pandemic and the ensuing lockdowns, according to an Oxford-based think tank. Research from the Centre for Enterprise, Markets and Ethics has found that a third of British people now have less than £1,500 in the bank, [...]
Gender pension gap narrows but women still lag behind November 11, 2020 Women will need to work beyond 100 to match men’s pension pots even as the gender pension gap narrows. More women are putting money aside for retirement, with the pension gap closing to just one per cent, the narrowest on record according to pension provider Scottish Widows. Despite this, the gender pay gap and part-time [...]
Gearing up against greenwashers: investors seek clarity on sustainability terminology November 9, 2020 | City Talk A dearth of clear, agreed sustainability definitions present a challenge to investors looking to invest sustainably. This is according to the results of the Schroders Institutional Investor Study, which surveyed 650 institutional investors across 26 countries during April 2020. Gearing up against greenwashers Greenwashing is about falsely communicating the environmental benefits of a product or [...]
Five trends to watch in China’s consumer sector November 3, 2020 | City Talk As the world continues to try to contain the spread of Covid-19, China is among the few countries sustaining a return to normal activity. Restrictions on movement have been lifted and the government’s test and trace system has so far proven effective in containing new outbreaks. As a result, shops, restaurants and other services have [...]