Childcare shortages, nursery costs and Brexit push up salaries for London nannies January 12, 2023 London is currently experiencing a strong demand for nannies, largely driven by the pandemic, Brexit, childcare provider shortages, and the soaring cost of nursery places. As a result, nanny salaries have jumped by 13 per cent across the UK, the biggest increase in five years, and 8 per cent in London. A nanny working in [...]
Staggering £25bn down the drain as 9 in 10 Brits plan to cut back in 2023 January 12, 2023 Close to £25bn-worth of discretionary outgoings in the “cut-back economy” may be lost this year as close to nine in 10 people plan to reduce their spending over the year ahead. More than a third of UK households are “financially distressed” and plan to cut back across most, if not all, of their non-essential spending, [...]
Cost-of-living crisis will fuel tsunami of cyber attacks in 2023, warns industry insider January 11, 2023 The cost-of-living crisis is fuelling a surge in cyber attacks on UK businesses, a leading fraud expert has warned. Leigham Martin, group head of infrastructure and security at Connectus Business Solutions, shared with CityAM that cutting costs on security will spell disaster for businesses. “There is increasing evidence that some businesses are looking to [...]
Exclusive: Surge in fraud and scams sends shivers through the City’s financial services space January 11, 2023 Close to half of Londoners believe the financial services industry is more vulnerable to fraud and scams than ever before. And for good reason. In fact, with fraud costing the UK £9.3bn a year, identity theft leaping 11 per cent to an all-time high in 2021 and, for the year ending September 2021, overall fraud was [...]
Aggressive institutional investors pushing into digital assets set to replace retail players January 10, 2023 Institutional investors are set to replace retail investors as the major holders of digital assets in 2023, according to new research shared with CityAM today. More than 7 out of 10 of professional investors believe institutions will hold 60 per cent of digital assets within seven years, reversing the current status where institutions hold [...]
EXCL – Tech investments increasingly casualty of recession and skills shortage January 10, 2023 More than half of UK business leaders believe their companies’ digital platforms – such as websites, apps and customer-facing tech – fail to stand out against competitors, with almost half ready to invest in making improvements in 2023. However, according to the data that was shared exclusively with CityAM today, significant hurdles and concerns [...]
EXCL – ‘Trainee train drivers get £24k, double the starting income of advocates’, says City legal whizz January 10, 2023 Technology is increasingly changing the way we work, and law firms are no exception. Innovation and new technical solutions are rapidly penetrating the City’s legal powerhouses and this process will only accelerate in 2023. At the same time, barristers and other lawyers feel they are not compensated sufficiently for the hard work they put in, [...]
Exclusive sitdown: Inflation is forcing advertisers to make some tough choices, warns Ebiquity’s boss January 10, 2023 As inflation hit the highest levels in decades in the UK last year, and across large parts of the world, and the cost of living crisis is eating up the household budgets of millions of Brits, many industries are increasingly suffering. That won’t be any different in 2023 and the advertising space is no exception. [...]
Tech chiefs demand pragmatism while retail CEOs go for enthusiasm and City finance bosses value a vision January 9, 2023 As 2023 gets underway the World Cup in Qatar is fast becoming last year’s news. However, for Chris Watt, Managing Partner at ECI Partners, it would be wise for City chiefs to sit back and reflect on the tournament, as there are some lessons to be learnt. Leadership, vision and strategy being the keywords during [...]
Britain’s 1.6m temp workers risk missing out on close to £100m in unclaimed holiday pay January 5, 2023 Amid a 40-year inflation high, soaring energy bills and rising mortgage payments, Britain’s 1.6m temporary workers have been urged to claim an estimated £97m worth of unclaimed holiday pay from employment agencies and umbrella companies engaging them. The urgent call comes from a support group for independent workers, IWORK, that has brought to light that many of the UK’s flexible workforce are [...]
