Covent Garden Estate has taken £400m hit

Capital & Counties Properties ( LON: CAPC), the owner of Covent Garden estate reduced by 27 per cent in 2020 on a like-for-like basis, and has taken a hit of £400m on the value of London shopping and entertainment site, as the independent property valuation had fallen to £1.8bn as of the end of 2020,…

Corporate America and China

Clyde Prestowitz who worked for President Ronald Regan, and renowned globalisation and Asian expert has advised subsequent US administrations offers useful advice for Joe Biden the new American 46th president to adopt, as resetting US relations with China will be one of his top agenda. The strategies that the United States and its allies can…

The Third lockdown may cost UK £400million every working day

  The UK Lockdown could hit the borrowing balloon for the 2020/2021 financial year past £450 billion and predicts the latest coronavirus restrictions could cost the country £400 million every working day. Chancellor Rishi Sunak announced a new £4.6 billion plan to help businesses through a new lockdown, including one-off top-up grants up to £9,…

UK Government record borrwing in November

The UK government continued to support the economy during the pandemic by borrowing soared in November hitting £31.6bn the highest level on record according to the office for National Statistics and the third-highest figure in any month since records began in 1993. The Independent Office for Budget Responsibility has estimated that the amount of borrowing…

Resistance to abolition of slavlery

The English Heritage unveiled blue plaque on the wall of Schomberg House on Pall Mall, London to commemorate the residence of Quobna Ottonah Cugoano, the author and campaigner in 1787 wrote one of the first exposes by an African of slave trading, criticising continued tolerance of horrors of the slave trade by the British Government…

Furlough scheme to be extended until end of March 2021

The Furlough scheme will be extended until the end of March 2021, Chancellor Rishi Sunak has announced.  The scheme in which employees receive four-fifths of their current salary up to maximum of £2, 500 of hours not worked was originally scheduled to end last month, but was extended when Prime Minister Boris Johnson announced a…

Post-furlough job losses worse among young and ethnic minorities

Resolution Foundation’s latest survey of 6, 000 adults found 19 per cent of 18-24-year-olds who were furloughed during lockdown were unemployed in September. For Black, Asian, and other minority ethnic workers the figure was 22 per cent compared to 9 per cent for the general population. The Treasury said its wage support schemes had helped…

P{rincely Vision 2030

35-year-old Mohammed bin Salman is the pivotal leader of the Arab World, Crown prince who became king in 2015 and de facto ruler of Saudi Arabia, ended the House of Saud’s consensual model of an absolute monarchy with no absolute monarch, seizing all the reins of power and urged forward social and economic reform. The…

Over £215m returned to government by UK employers

According to HMRC figures,  more than £215, 756, 121 to the government in Furlough scheme payments they did not need or took in error covering 80, 433 employer’s worker’s salaries have returned cash they were given to help cover workers’ salaries. The money returned is a tiny part of the $35.4bn claimed under the scheme…

HSBC moved  scam £62 million

    Britain’s biggest bank HSBC allowed fraudsters to transfer millions of dollars around the world despite learning their scam, leaked secret files reveal.  HSBC moved the money through its US business to HSBC accounts in Hong Kong in 2013 and 2014. Its role in the $80m ( £62m) fraud is detailed in a leak…