LSBF Blog - Global Matters

PM Cameron backs fintech manifesto that promises 100,000 jobs by 2020

July 30 ,2015 | by Hari Sri

UK prime minister David Cameron has backed a new manifesto for the fintech industry from Innovate Finance, which, among other things, promises 100,000 new jobs in the sector by 2020.

David Cameron has given his backing to a new manifesto from Innovate Finance, detailing how it intends to bring the UK to the forefront of the financial services technology industry.

Innovate Finance, which is the trade body for the fintech industry, wants the UK to become the most investment-friendly environment for fintech worldwide by 2020.


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FTSE boosted by takeover deal news

July 29 ,2015 | by Claire Payne

News of confirmed and potential takeover deals have boosted the FTSE 100.

Takeover deals are back at the forefront of investors' minds today (July 29th), following news that acquisitions are set to take place involving UK firms.

Hikma, the pharmaceutical group, has purchased a US drugs company for £1.7 billion, while manufacturing business acquisition specialist Melrose revealed it is to sell portfolio company Elster for £3.3 billion.


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Chinese stocks face sell-off fears as remedial measures fail

July 28 ,2015 | by Erin O’Neill

Measures designed to provide the market a boost have failed in China, triggering renewed stock sell-off fears.

Beijing is struggling to calm the markets as China's financial woes continue.

Shares were down by more than 8% yesterday (July 27th), and this has been compounded by a 1.7% loss today. The situation has raised concerns about the potential for a market meltdown.


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PM Cameron looks to boost Asia trade as UK economy gains momentum

July 27 ,2015 | by Hari Sri

UK prime minister David Cameron is in South-East Asia to boost trade links, helping to further boost a UK economy that is expected to have seen more growth in the second quarter of 2015.

The prime minister has embarked on a trade tour of South-East Asia as he looks to boost trade relations in the region.

David Cameron arrived in Indonesia today (July 27th) accompanied by a delegation of around 30 British business leaders as he looks to form relationships between UK companies and growing Asian markets.


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Amazon overtakes Walmart to become biggest in US retail market

July 24 ,2015 | by Thiago Kiwi

Walmart lags behind Amazon in the US retail market after the online retailer posted surprising financial results for the second quarter.

An unexpected rise in profit means Amazon has overtaken Walmart to become the largest retailer by market capitalisation in the US.

Shares in the online retailer jumped in aftermarket trading on Wall Street yesterday (July 23rd) after it posted quarterly results that surpassed analysts' expectations.

Revenue for the second quarter rose 20 per cent year-on-year to $23.2 billion (£14.9 billion) - exceeding the $22.4 billion average forecast that has been predicted by analysts, the Financial Times reports.


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European stock markets boosted by listed companies reporting strong earnings

July 23 ,2015 | by Hari Sri

Strong results from Credit Suisse and Unilever have helped boost European stock markets.

Stock markets across Europe rose today (23 July) after several major listed companies reported strong earnings figures.

There were early-morning gains for Germany's DAX, the FTSE 100 and France's CAC, as investors reacted positively to financial results from firms such as Unilever and Credit Suisse.


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Business urged to attend UKTI 'ExportJam' to spur British exports

UK Trade and Investment is running nine events around the country aimed at helping businesses break into overseas markets.

UK businesses operating in international markets will have the opportunity to share their ideas on exporting at a series of new events organised by UK Trade and Investment (UKTI).

The body will be running nine ExportJam workshops across the country later this month, with the aim of looking at how the government gives support to companies that sell goods and services around the world.


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City growth boosts UK financial services trade surplus to £62bn

July 21 ,2015 | by Hari Sri

The City of London's growth has helped Britain's financial services trade surplus in 2014 to rise to £62 billion.

London's financial district has been a key player in making the UK the world's biggest exporter of financial services.

UK recorded a trade surplus in financial services of £62 billion in 2014, it's highest ever, according to TheCityUK.

With other related professional services - such as accountancy, legal services and management consultancy - taken into account, the figure rose to £71 billion, helping to offset the increasing trade in goods deficit see in the UK economy.


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UK company dividends surge to £28bn, hit highest levels since 2007

Banks have helped drive dividends paid by UK companies in the second quarter of 2015 to £28.3 billion.

Dividends paid out by UK companies have reached a high not seen since before the financial crisis, with banks leading the way.

New figures from Capita Asset Services show around £28.3 billion was paid out by firms during the second quarter of 2015, rising to £29.2 billion when factoring in special dividends.

The figure is the highest recorded by Capita since it began the process in 2007 and Justin Cooper, chief executive of Shareholder Solutions - a part of Capita - said it would be an "understatement" to say that income investors had enjoyed a "bumper month".


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Chinese banks issue £134bn loans to lift stock market

July 17 ,2015 | by Thiago Kiwi

Some of China's biggest state-owned banks have contributed to a £134 billion fund being used to boost the country's ailing stock market.

State-owned banks in China have lent over a trillion yuan to a government-owned finance agency to help stem falls on the country's stock market.

China Securities Finance Corp (CSFC) has received 1.3 trillion yuan (£134 billion) over the past few weeks, funds that have been passed on to brokerage firms to help finance share investment.


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Flexible working and praise help productivity, shows research

There are many ways businesses can boost employees' productivity for little to no financial outlay, new research shows.

Financial rewards remain the best way of boosting productivity among employers, but there are a number of other measures small businesses can use to make staff work harder.

This is according to new research from Office Genie, which identified a good night's sleep, positive feedback from managers and flexible working hours as three factors that raise productivity among a workforce.


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UK wages register biggest rise in five years, shows ONS report

July 15 ,2015 | by Hari Sri

Salaries in Britain have grown at the highest levels in five years, a report issued by the Office for National Statistics has revealed.

UK wage growth has hit a high not seen for five years, according to new figures released for the three months to May 2015 from the Office for National Statistics (ONS).

Average weekly earnings were up 3.2 per cent during the period, slightly below the 3.3 per cent that had been predicted in a poll of economists conducted by Reuters.


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UK government to force big firms to reveal gender pay gap

July 14 ,2015 | by Claire Payne

The government are set to force firms with over 250 employees to release details of their gender pay gap.

Large companies will have to publish details on the gender pay gap within their workforce, David Cameron has promised.


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No Grexit as agreement reached over Greece debt crisis

July 13 ,2015 | by Hari Sri

Greece will stay in the EU after a bailout agreement was reached following talks that ran through the night.

Greece is to be offered a new bailout deal following extensive talks between Eurozone leaders and Greek ministers.

Discussions went on through the night in Brussels as both parties looked to resolve the deepening financial crisis in Greece, before a revised deal was announced this morning (13 July).


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From Chef to Finance Chief – Interview with Kyle Tyrrell, Head of Finance, AXA Global Protect

July 10 ,2015 | by LSBF Blog Staff

In just seven years, Kyle Tyrrell went from working as a chef in a catering business to becoming head of finance at one of the world’s leading insurance companies.

He was awarded Newly Qualified (NQ) Accountant of the Year at the 2015 PQ Magazine Awards. Here, Kyle talks about how his career has excelled since completing ACCA (Association of Chartered Certified Accountants) at London School of Business and Finance (LSBF).


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What to expect from a career in accountancy

July 10 ,2015 | by Helen Gould

There are a lot of misconceptions about working in accountancy - for example, many assume that finance is a boring subject. As we have written before, this is not necessarily the case.

In addition to having a good head for numbers, accountants also need a sharp sense of professional ethics, an eye for detail, and the ability to make informed judgements about financial decisions – there’s a lot more to it than the public perceptions.


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Access to higher education - the next frontier

What can the next generation of young people expect when it comes to higher education?

Professor Maurits Van Rooijen discusses the value of higher education and the need for a change in attitudes towards re-entering the educational system later in life.


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New national living wage tops Osborne's Budget announcement

July 08 ,2015 | by Thiago Kiwi

UK chancellor George Osborne has announced a new national living wage and outlined £17 billion in cuts in this year's Budget.

A new national living wage and further spending cuts over the next five years are two of the key points announced in today's Budget 2015.

Chancellor George Osborne has announced a host of changes in what is the first Budget from a majority Conservative government in nearly two decades.


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What to expect from Osborne's emergency budget this week

July 07 ,2015 | by Thiago Kiwi

All eyes will be on British chancellor George Osborne this week as he unveils the first Budget of the new Conservative administration.

Although this will be Mr Osborne's seventh Budget as chancellor since succeeding Alistair Darling in 2010, it will be the first delivered under a Conservative majority government, with the departure of former coalition partners the Liberal Democrats expected to have an impact on the strategic direction of government policy.

The announcement on Wednesday (8 July) will therefore be seen as a barometer of what to expect from David Cameron's new administration, with the Budget proposals widely expected to be led by a fresh raft of cuts to public spending.


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Greek referendum: global markets feel impact as Greece rejects austerity

July 06 ,2015 | by Hari Sri

Global markets are readjusting following after the Greek referendum on the terms of its proposed bailout led to a resounding rejection of further austerity measures in the country.

The nation went to the polls yesterday (5 July) in a referendum called by the leftist Syriza government to decide whether or not to accept austerity proposals from the country's creditors - including the European Central Bank (ECB) and the International Monetary Fund (IMF) - that had been set out as preconditions for any further bailouts for the debt-stricken nation.


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Venture capital investment in UK tech hits record high

Venture capital investment in technology companies across Britain hit $1.5 billion in the six months to June, with London leading the way.

A record high of almost $1.5 billion (£963 million) was invested by venture capital firms in Britain's technology companies during the first half of 2015. 

This is according to new figures released by London & Partners, the promotional company for the capital set up by mayor Boris Johnson.


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Bank of England plan measures to shield UK from Greece risk

Bank of England governor Mark Carney has revealed plans are being put in place to shield the British economy from the financial crisis in Greece.

The economic crisis in Greece could have a knock-on effect on the UK economy, but the Bank of England (BoE) is taking steps to ensure it remains protected.


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India prepares for ecommerce boom

July 01 ,2015 | by Hari Sri

Ecommerce looks set to boom in India in the coming years, with many companies looking to take advantage.

Ecommerce has taken developed nations by storm, changing the way both consumers and businesses make purchases. It has been hugely popular across Europe, the US and Asia for years, and now other nations are catching up.

One country where ecommerce is expected to boom is India. A PwC report, using data from the Internet and Mobile Association of India, shows the sector grew in value from $3.8 billion (£2.4 billion) in 2009 to an estimated $12.6 billion in 2013, and this rise is expected to continue.


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GDP growth and consumer confidence boost UK economy

June 30 ,2015 | by Hari Sri

Better-than-expected GDP figures and a 15-year high in consumer confidence have both boosted the UK economy.

There has been a double boost for the UK economy yesterday (June 30th), with statistics revealing not only that growth has been stronger than expected this year, but that consumer confidence has jumped.

The Office for National Statistics says that gross domestic product (GDP) expanded by 0.4 per cent in the first quarter of 2015, greater than the 0.3 per cent it initially estimated.


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FTSE falls as markets react to Greece turmoil

June 29 ,2015 | by Thiago Kiwi

Greece now looks likely to default on loans and could exit the euro as banks close and prime minister Alexis Tsipras calls a referendum.

Shares have fallen around Europe today (29 June) as markets react to the ongoing financial crisis in Greece, where banks are expected to remain closed all week.

The FTSE 100 ended the day down nearly two per cent, as banking and travel stocks reacted negatively to Greece inching closer to leaving the euro.


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