Corporate Finance News

Women and ethnic minorities underrepresented in leadership positions

UK financial bosses could have pay linked to diversity

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The financial services sector released a joint paper stating that they want to create a more diverse workforce and reduce gender and race inequalities. The Bank of England said City executives need to do more to achieve this and financial watchdogs said financial bosses could see pay linked to workforce diversity to help speed up progress...
Boost for UK Financial Sector

City of London to secure exemption from new global tax rules

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UK Chancellor Rishi Sunak’s pitch to exclude the City of London from new global corporate tax rules has been approved. 130 countries agreed to a new minimum global corporate tax rate of 15%. Whilst many highlighted that the new rule is a step in the right direction, some have argued that Mr Sunak should have pushed for 21% to help raise further funds for the NHS…
Rishi Sunak announces new green savings bonds

Rishi Sunak announces new green savings bonds

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In a bid to reach net-zero emissions by 2050, the UK is placing further emphasis on climate change and funding environmental initiatives. Today, UK Chancellor Rishi Sunak revealed plans for green savings bonds, which will help support eco-projects in the UK. Meanwhile, the Chancellor is also on the verge of securing a significant global tax deal for the UK…
Massive shift to online in US economy

Consumer spending trends brought about by COVID-19

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Consumer spending is booming now that countries are emerging from the COVID pandemic and coronavirus vaccination campaigns are in full swing. The Bank of America notes that consumer spending is up 20% on pre-pandemic levels. So, how are people spending their money and will this continue once stimulus money from central banks dries up?
Amazon income sales soar

Amazon paid no corporation tax despite record sales income

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Governments are being urged to clamp down on global tax avoidance after Amazon paid no corporation tax in 2020 despite posting record sales income. Besides paying no corporation tax, EU legislators gave Amazon EUR 56M (GBP 48.3M) in tax credits to counter future tax bills and...
Risk assessment

A Guide to Foreign Exchange Risk Management

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With the economic climate remaining uncertain, the need for a foreign exchange risk management strategy has never been greater. Many small to medium-sized enterprises (SME) believe that foreign exchange risk is only for large corporations. However, studies conducted by accountancy body ACCA found that...
Credit suisse

Credit Suisse take CHF 600 million hit from Archegos collapse

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Still reeling from the Greensill scandal, Credit Suisse is now facing significant losses for Q2 following the Archegos collapse, prompting an investigation from Swiss regulators. The Swiss Financial Market Supervisory Authority (FINMA) has begun enforcement proceedings against investment banking company Credit Suisse following...
Financial market regulations

Bank of England intervenes in UK-EU financial market row

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The EU’s refusal to grant London equivalence has driven firms to relocate to the bloc, prompting the UK government to involve the Bank of England. The Bank of England has now drawn up restrictions to reduce the number of firms relocating to financial capitals on the other side of the Channel. All firms must...
Digital currency

Are central banks preparing to launch digital currencies

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Interest in cryptocurrencies and digital currencies have accelerated amid the coronavirus pandemic, and many central banks are now debating whether central bank digital currencies (CBDCs) should become a reality. Pound Sterling continues its rally higher against the euro and US dollar.
UK Finance sector London

Bank trends: Expectations for UK banking sector in 2021

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What's the difference between Retail Banking and Corporate Banking? Here we examine the Expectations for the UK banking sector in 2021 and how banking shares are recovering from the pandemic-induced slump. Also we look at how Rishi Sunak is reviewing the bank surcharge following the Budget 2021 announcement...