LSBF Blog - Global Matters

UK GDP forecast to grow by 2.6%

August 25 ,2015 | by Thiago Kiwi

The Confederation of British Industry (CBI) has claimed that increases in productivity, household spending, and business investment means UK GDP will see stronger growth than previously anticipated.

This has led the business lobby group to upgrade its forecast to 2.6% for the year.

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Chinese economic woes hit global shares

August 25 ,2015 | by Hari Sri

The continuing fallout from China's current domestic financial problems has hit stock markets in London, Paris and Frankfurt as investors become more concerned about the state of the world's second largest economy.

Shares fell sharply with London's FTSE 100 index down by 2.6% in morning trades while counterparts in France and Germany fell by almost 3%.

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British film industry gets more tax breaks from EU

August 25 ,2015 | by Erin O’Neill

The EU has given the go ahead for more tax breaks for films which are produced in the UK.

The government’s plans to enable film production companies to claim tax relief of 25% which would be payable towards the cost of production has received the green light.

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Manufacturing orders unexpectedly improve in August, reveals survey

August 24 ,2015 | by Hari Sri

The industrial trends survey from CBI is a well-respected industry report, and this month it revealed an unexpected improvement on manufacturer's order books.

Economists had expected the monthly total order book balance to remain stagnant, but the figures show that output continued to increase at a steady pace for the three months to August.

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IMI audit committee appoints new non-executive director

August 24 ,2015 | by Erin O’Neill

Isobel Sharp, former senior technical partner at Deloitte has joined the audit committee of IMI, an engineering group and a member of the FTSE 250, as a non-executive director.

The highly respected financial figure has an extensive background as an influential player in the UK economy and the appointment has been well received.

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ICAEW appoints non-chartered accountant board members for first time

August 21 ,2015 | by Thiago Kiwi

The Institute of Chartered Accountants in England and Wales has appointed its first non-chartered accountant board members.

This historic move aims to widen the scope of diversity of thinking and experience at the organisation's highest levels.

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UK sales volumes rise by 0.1 per cent

August 21 ,2015 | by Hari Sri

The latest figures from the Office for National Statistics (ONS) reveal that retail sales volumes in the UK rose by 0.1% in July.

This means the figure has bounced back from a fall in the previous month, which is good news for the continued revival of the UK economy.

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Emerging markets suffer £600bn outflow of funds

August 21 ,2015 | by Erin O’Neill

A mix of official data and estimates by NN Investment Partners, an investment bank, has revealed that the 19 largest emerging market economies saw a total net capital outflow of around £600bn ($940.2bn) over the past 13 months.

The bank, based in the Netherlands, reported the figure, which is almost double the net outflow in a nine-month period following the 2008 banking crisis.

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UK interest rates to rise "pretty soon" says outgoing BoE official

August 20 ,2015 | by Thiago Kiwi

David Miles, the outgoing member of the Bank of England's monetary policy committee (MPC), has said that a rise in UK interest rates will happen sooner rather later.

During an interview on BBC's Newsnight programme, Miles said that rates would rise "pretty soon."

 

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Experiment shows children taught by Chinese teachers outdo peers

August 20 ,2015 | by Erin O’Neill

A new experiment run as part of a BBC Two programme has found that British pupils taught by Chinese teachers performed better in maths and science exams.

The study compared the British and Chinese school systems and used the results of a series of exams designed by The Institute of Education who acted as an independent research body.

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ONS dropping costly monthly surveys will help SMEs

August 20 ,2015 | by Hari Sri

The Office for National Statistics has announced that it will change the way it comes up with its economic growth estimates.

The move is likely to cut costs for small businesses, as they are likely to have far fewer time-consuming surveys to complete.

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Why starting your career at an SME is good for you

August 19 ,2015 | by LSBF Blog Staff

If you’re studying at university, chances are you’ve seen all the big employer names out on campus vying for your attention – and, ultimately, your talent. 

Whether they’re running large campus events or popping up in your lecture theatres, you’re far more likely to meet a Times Top 100 employer than see a small, local start-up making an appearance on campus.

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British Pound strengthens as inflation rises in July

August 19 ,2015 | by Hari Sri

Consumer Price Index (CPI) indicates July inflation rise in the UK by 0.1 per cent with strengthening of the Pound Sterling, allaying fears that the country was in danger of slipping into deflation.

The unexpected result has caused further pressure on the Bank of England to confirm when interest rates will be raised, given that they have been held at 0.5 per cent for the past 78 months. Inflation first reached zero per cent in February. The Bank of England now expects it to remain close to zero for the coming months, before rising to around 0.5 per cent at the end of the year.

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Blue-chip bosses in UK earn 183 times more than other employees

August 19 ,2015 | by Thiago Kiwi

Britain’s top companies have a widening pay gap between bosses and average workers, according to a new report.

The High Pay Centre pressure group has revealed that the average FTSE 100 chief executive earns 183 times more than employees lower down the scale. What's more, although the FTSE 100 shrank by 3% in 2014 average executive remuneration increased.

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Gender pay gap should go says leading UK investment figure

August 19 ,2015 | by Claire Payne

By pointing out that there are twice as many CEOs and chairmen of FTSE 100 companies called 'John' than the total number of women holding such positions, a leading UK investment expert has highlighted how far gender equality has to go in the UK.

As CEO of Newton Investment Management, chair of the Investment Association and founder of the 30% Club, Helena Morrissey is perfectly placed to comment on the place of women in the UK economy.

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Japan's economic growth plan fails

August 18 ,2015 | by Thiago Kiwi

Japan's Prime Minister Shinzo Abe’s efforts to reverse years of poor growth with a big stimulus programme have proven disappointing as output contracted by 0.4% in the second quarter.

Official data revealed the shrinkage and underlined the so-called “Abenomics” growth policy's failure to make a difference so far.

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Applications to PwC student programmes at record high

August 18 ,2015 | by Erin O’Neill

Big 4 accountancy firm PwC has received the most applications from students this year.

One of the most established players in the accountancy sector recently made a controversial move regarding entry criteria and has now seen a huge surge in graduate and apprenticeship interest.

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Industrial commodities drag global markets down

August 17 ,2015 | by Thiago Kiwi

Industrial commodity values have taken a hit thanks to the continued uncertainty surrounding China’s economy, and the possibility of further devaluations of the yuan.

The price of crude oil has been particularly effective, with the cost per barrel dipping to a six-year low in the US.

As a result of this, European and American stock markets have dropped slightly. The FTSE Eurofirst 300 has fallen by 0.5 per cent, and the American Standard & Poor 500 was down seven points on opening to 2084.5.

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China’s slowdown and America’s recovery squeeze emerging markets

August 17 ,2015 | by Erin O’Neill

One of the biggest financial stories of the 21st century so far has been the increasing importance of emerging markets.

Now, many are facing the prospect of being caught in the middle of the fallout from China’s current slowdown and America’s ongoing recovery.

 

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Sustainable innovation drives the future of cities, says MIT researcher

August 17 ,2015 | by Hari Sri

Sustainable innovation is an essential part of developing the cities of the future, according to a top MIT researcher.

Wei Pan claims that urban density is one of several trends that are facilitating new sustainable business models with a connection that she calls “social-tie density”.

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Apple hires 11,000 female employees within a year

August 17 ,2015 | by Claire Payne

Over the last 12 months, tech giant Apple hired more than 11,000 new female employees around the world.

In the US, almost 50% of the company’s new workers in the first half of 2015 were women, Native American, black or Hispanic.

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Audit market sees surge in aggressive headhunting

August 14 ,2015 | by Thiago Kiwi

Recruitment tactics used by the high end accounting firms in the UK are becoming increasingly aggressive, a senior partner in one of the Big 4 recently went on record as saying.

A limited pool of talent, when it comes to experienced senior auditors, means that poaching has become the norm amongst competing companies.

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A-level results see drop in top grades but more university places

August 14 ,2015 | by Claire Payne

With the results of this year's A-level exams just coming in, the latest figures reveal a slight fall in top grades achieved.

Despite this, a record numbers of students have been offered university places.

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ACCA says businesses are at risk from gender inequality

August 14 ,2015 | by Erin O’Neill

When it comes to the workplace, the battle of the sexes could have serious implications for businesses across the world according to the CEO of ACCA.

Helen Brand, OBE, the Chief Executive of the Association of Chartered Certified Accountants, raised the issue in her keynote speech opening the Women in Finance breakfast hosted in Kampala.

 

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Willingness key to successful accounting career, says AAA

August 13 ,2015 | by Helen Gould

The recent American Accounting Association's annual meeting saw the presentation of a paper that outlined the reasons why the most successful corporate accountants are hired and promoted.

According to the association's new study, the key to having a successful corporate accounting career appears to revolve around a willingness to interpret earnings data.

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