Banking giant Investec will slash 210 jobs from its London HQ

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Banking giant Investec has confirmed plans to axe 210 jobs from its London headquarters amid a ‘challenging economic backdrop’.

The firm said it will slash around 13 per cent of roles in the capital in order to help ‘simplify and focus the business’ amid the pandemic. 

Investec added its performance in the five months to August 31 was impacted by lower average interest rates, reduced client activity and a 22 per cent depreciation of the South African rand against the pound.   

Fani Titi, chief executive of Investec, said severe contractions in GDP and volatile international markets pressed down on revenues during this turbulent period.

However, he added that the business had ‘proved resilient’ despite the impact of lockdown in the first quarter before economies slowly started to reopen.

A spokesman added: ‘The strategy was set prior to Covid-19 but the crisis has also

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Thousands of jobs could be lost in London unless business rates holiday extended, Sadiq Khan warns

Sadiq Khan wearing a suit and tie: (Getty Images)

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Sadiq Khan is urging the Government to extend the business rates holiday for another year over fears thousands of jobs could be lost in London and across the country.

After the coronavirus pandemic hit the UK, business rates for retail, hospitality and leisure businesses in England were halted until the new financial year starts in April.

In a joint submission to the Government’s business rates review, the mayor of London has joined with councils in the capital to call for an extension to 2021/22.

Raising concerns that thousands of jobs could be lost, the mayor’s office said this would provide support to businesses who have suffered a drop in footfall due to the coronavirus crisis.

“Businesses across London continue to struggle from the impact of Covid-19,” Mr Khan said.

“If the business rates holiday comes to an end, I worry any employers will

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London Showcases How Tech Will Help Navigate Our Fast Evolving World

London Tech Week, Europe’s most influential technology festival,
runs through 11th September

  • A fully virtual and globally accessible event, it will cover the whole tech ecosystem, focusing on health, education, business transformation, the future of work, diversity and inclusion
  • Key speakers include former Google CEO & Co-Founder of Schmidt Futures, Eric Schmidt, the Rt Hon Matt Hancock MP the Secretary of State for Health, Digital Secretary Oliver Dowden and Dr. Indra Joshi Director of AI at NHSX

LONDON, Sept. 03, 2020 (GLOBE NEWSWIRE) — London Tech Week 2020 launches this week showcasing the best of global tech and how it will play a crucial role in helping us navigate the challenges facing our changing world.

Europe’s most influential tech event, which runs through 11th September, will look at the impact of the technology ecosystem on the key issues of our age including health, education, security, the future of

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