UK finance sector revives, cuts staff, reviews office space: survey

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Business volumes in UK financial services grew for the first time in two years during the final quarter of 2020 when firms shed staff and remote working in the pandemic spurred reviews of office space, a survey showed on Wednesday.

FILE PHOTO: People wearing face masks wait at a bus stop on London Bridge, amid the outbreak of the coronavirus disease , with the City of London financial district in the background, Britain, January 8, 2021. REUTERS/John Sibley/File Photo

“Unfortunately, the health and economic picture has sadly deteriorated since with restrictions tightening again,” said Rain Newton-Smith, chief economist at the CBI. Firms expect business volumes to grow at a slightly quicker rate in the first three months of 2021, the survey said.

 

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