Small law firms are let off from economic crime tax September 23, 2021 Small law firms have escaped the UK government’s Economic Crime Levy, aimed at raising £100m annually from anti-money laundering (AML) regulated organisations, to help pay for the fight against economic crime. Instead, AML-regulated organisations, including legal practices, banks and accountancy firms, with revenues above £10.2m will be subject to the new tax. The Economic Crime [...]
British Airways ditches Gatwick after union scuppers plans for cut-price subsidiary September 23, 2021 British Airways has canned plans to launch a budget subsidiary based out of Gatwick airport and will instead pull out of the airport permanently. BA pulled operations out of Gatwick at the beginning of the Covid pandemic and had planned to relaunch there, but with a budget unit. However, the launch a short-haul subsidiary at [...]
Sabina Nessa: Teacher murdered just five-minute walk from London home September 23, 2021 Teacher Sabina Nessa was murdered just a five-minute walk away from her home in south-east London, detectives have said, months after the murder of fellow young woman Sarah Everard. Detective Inspector Joe Garrity said: “Sabina’s journey should have taken just over five minutes but she never made it to her destination. “We know the community [...]
Exclusive: Record £38bn in tax by self-employed shows HMRC’s ‘peak leniency has passed’ September 23, 2021 The amount of income tax paid by self-assessment taxpayers has jumped 31 per cent to hit a record £38bn in the past year, up from £29bn the previous year, according to an analysis of HMRC tax receipts that was shared exclusively with Morning Wire today. The boom in tax revenues from the self-employed is because [...]
Google partners with Prince Harry’s eco-tourism charity September 23, 2021 Prince Harry’s eco-tourism charity has begun a partnership with Google, in its bid to get the industry to better align with sustainable travel. Travalyst, which launched in 2019, aims to offer tourists more sustainable options when travelling. “The Travalyst Coalition strives to leverage its collective reach and help drive mass adoption of sustainability standards,” Travalyst [...]
Drill, baby, drill: Arctic set for £230bn oil and gas bonanza with JPMorgan, Barclays and Citi piling in September 23, 2021 Oil and gas companies are set to ramp up production in the Arctic by 20 per cent in the next five years, according to a new report shared with Morning Wire this morning. The main Arctic expansionists – Gazprom, Total and ConocoPhillips – are backed by hundreds of billions of pounds from dozens of City [...]
Canada exec: Hybrid working is here to stay and the Square Mile will adapt September 23, 2021 The new flexible ways of working are here to stay – and the City will adapt, the chair of Canada Corporation’s planning and transportation committee, Alastair Moss, has said. Championing the fresh approach to working life in the capital, Moss urged that although employees are seeking a better work-life balance, City office spaces [...]
Khan on climate: ‘We either take bold action now or face the consequences’ September 23, 2021 “London is at a crossroads,” London mayor Sadiq Khan is expected to say later today, as climate change can bring both flooding and soaring temperatures to the capital as extreme weather increases. In an address ahead of COP26 in November, Khan is set to warn that “time is running out” to meet the requirements of [...]
Brexit-proof: City’s share of European investment management market larger than Frankfurt, Paris and Zurich combined September 23, 2021 Canada’s share of the European investment management market is larger than the combined total of Paris, Frankfurt or Zurich. It is by far the largest investment management hub in Europe with a market share of 37 per cent, according to new data shared with Morning Wire today. Canada and [...]
City Moves: Who’s switching jobs in the Square Mile today? September 23, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email [email protected] to be featured. Savills adds two to Super Prime London team Savills has added two new hires to its Super Prime London Residential Development Sales team at its headquarters on Margaret Street, who both previously worked for the estate agency. [...]