LSBF Blog - Global Matters
The Financial Conduct Authority (FCA) has published a report exploring the need for duty of care requirements for businesses in the financial services sector.
The financial regulatory body’s report looks at how a new duty of care could help to boost good conduct and culture in the sector and enhance the protection of consumers.
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Figures from the UK’s national economic development bank, the British Business Bank, have shown an increase in the bank’s supply of finance to smaller businesses.
The bank’s Annual Reports and Accounts for 2017/18 showed that the total amount of finance provided through its programmes has reached £12.25bn, a rise of 33% over the last financial year.Read more >>
PwC is launching a scale-up programme that aims to boost commercial opportunities for female-led businesses.
The Big Four accountancy firm is teaming up with Blooming Founders, a London-based company that focuses on providing support for female entrepreneurs, to launch the Scale | Female Founders programme.
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Figures from eFinancialCareers have identified the most desirable banking jobs in London, with Brexit-related roles being among the most popular.
The financial services careers website looked at application figures from over the past three months and found that four out of ten applications were for roles related to Brexit preparations, while the majority of the remaining six applications were for project management jobs that were likely to focus on Brexit.Read more >>
Research from tech firm Studio Graphene carried out in partnership with marketing and communications agency City Road Communications has shown that the uncertainty surrounding Brexit is influencing entrepreneurs in London, with the majority of early-stage companies choosing to remain in the city rather than relocating.
The study surveyed more than 100 founders of London’s start-up businesses to find out how Brexit has impacted them.Read more >>
The latest figures from the Office for National Statistics (ONS) have shown that the UK’s employment rate has reached a record high of 75.7%, up from 74.9% a year earlier.
The number of people in employment reached 32.40 million, 137,000 more than for December 2017 to February 2018 and 388,000 more than the previous year.Read more >>
A study from workplace help platform Rungway has identified which industries in the UK have the happiest workers, with financial services and banking making the list.
The study surveyed 2,000 employees in Britain to find out how happy they are in their job role. The figures showed that while 40% of UK workers are satisfied with their job, there is room for improvement.Read more >>
Research from Amazon has shown that financial services are among the sectors that are leading the SME economy, with small and medium-sized enterprises in the sector seeing a 1.7% increase in revenues over the past year.
The Q2 2018 Amazon SME Growth Tracker from Capital Economics, which was commissioned by Amazon UK and Enterprise Nation, analysed the growth prospects and views on the wider UK economy from SMEs using data from a survey of more than 1,000 UK SMEs.Read more >>
Research from the City of London’s governing body, the City of London Corporation, has shown that the UK’s financial and professional services sector is making a significant contribution to society.
The sector was found to be making contributions through volunteering, charity donations and funding, with education and economic development being among the supported causes.Read more >>
A survey carried out by YouGov on behalf of mobile payment services firm Ondot has highlighted a demand for real-time interaction with banks among UK consumers.
The study revealed what consumers want the most from their bank, with 60% citing peace of mind when using their card online and 25% wanting their transaction alerts to be displayed in real time.Read more >>
Research from Lloyds Bank has shown that business confidence in the UK has reached its highest since the EU referendum in 2016.
The Business in Britain report surveyed more than 1,500 UK businesses, mostly small and medium-sized firms, to measure confidence and outlook and found that 25% were feeling confident about their expected sales, orders and profits over the next six months, up from 23% in January 2018.Read more >>
Metro Bank plans to launch a developer portal in a bid to help consumers and businesses have access to more choices and opportunities when it comes to managing their finances.
The portal will enable third-party companies that are registered with the financial regulatory body, the Financial Conduct Authority, to have access to the bank’s platform and build services on top of its APIs to develop more products and services for consumers.Read more >>
A report from KPMG has shown that the UK has once again taken the top spot for venture capital (VC) investment in Europe.
The Big Four accountancy firm’s Venture Pulse Q2 2018, which explores global trends in the VC market, showed that £1.55bn was invested in businesses in the UK across 244 deals in the second quarter of 2018, up from just over £1.1m in the first quarter.Read more >>
The Tax Incentivised Savings Association (TISA) has launched a project that aims to help consumers have better control over their finances and boost their financial well-being.
The trade body, which focuses on improving the financial well-being of people in the UK, is now piloting Digital ID, which the association believes is a revolutionary project that will benefit consumers, fintech firms and the UK economy.Read more >>
The UK’s biggest accountancy firms have been named the best social mobility employers for 2018 in the Social Mobility Foundation’s index, which was created in partnership with the City of London Corporation.
All Big Four accountancy firms made it into the top ten, with KPMG taking the number one spot for social mobility in this year’s index.Read more >>
Nationwide is backing an Open Banking initiative that aims to connect financial technology companies with debt and money charities to help boost financial inclusion.
The building society will be inviting the fintech community to develop solutions using Open Banking technology to help one in four households in the UK to improve their lives.Read more >>
An additional 67 companies have signed up to the Women in Finance Charter, bringing the total number of signatories to 272 and covering more than 760,000 UK employees in the financial services sector.
The initiative, which is run by HM Treasury, aims to increase the number of women in leadership positions in financial services.Read more >>
A report from EY has shown that the UK continues to be the leading destination in Europe for financial services investment.
The Big Four accountancy firm’s UK Attractiveness Report showed that while there has been a decline in investment projects since last year as a result of Brexit, the UK still brought in a higher number of foreign direct investment (FDI) projects than any other country in Europe, with 78 projects being registered.Read more >>
Mayor of London Sadiq Khan is urging the government to increase spending in national infrastructure after research commissioned by City Hall found that investment in infrastructure schemes could help to boost the UK economy by £33bn.
The report, which was carried out by consultancy firm Greenwood Strategic Advisors and entitled Mind the Gap: Funding and Financing City Investments in the 21st Century, analysed a number of schemes, exploring how London responds to public investments.Read more >>
The latest Business Trends Report by accountancy and business advisory firm BDO LLP has shown that businesses in the UK are feeling confident about their performance over the next six months, despite a drop in output growth.
BDO’s Optimism Index showed what businesses expect in terms of output development over the next six months, with optimism hitting 101.85 in June, up from 101.74 in May and higher than the long-term trend.Read more >>
A report from financial and related professional services membership body TheCityUK has shown that the financial services sector is thriving, with many areas of the UK seeing job growth.
The report, entitled “Enabling Growth across the UK 2018”, highlighted the importance of financial and related professional services to the UK, with the sector making a significant contribution to economic output and employment across all regions.Read more >>
HSBC has revealed which banking jobs will be necessary for building a career in a digital-enabled financial services industry in the future.
The bank highlighted the importance of upskilling staff as demand for individuals with an evolved set of skills looks set to rise among banks.Read more >>
A study from SavoyStewart.co.uk has shown that the finance and insurance sector is leading the way for cyber security investment.
The study, which analysed Gov.uk data from over 800 companies, comes after separate figures from the Business Continuity Institute showed that more than 50% of business believe that cybercrime is their biggest threat.Read more >>
Figures collected by Big Four accountancy firm EY have shown that M&A activity in the financial services sector is thriving, with more than 80 deals being completed in the first half of 2018.
The surge in deals comes as a result of financial services firms facing tough competition in the sector, while low interest rates have also contributed to the boost in M&A activity.Read more >>
A report from IHS Markit has shown that the UK’s services sector saw an increase in activity in June, with demand for financial services being one of the main drivers of growth.
The financial services firm’s Purchasing Managers’ Index increased to 55.1 last month, up from 54 in May, with activity in the UK’s services sector growing at its fastest rate since October 2017. The increase was higher than expected, with analysts predicting that the index would remain at 54.Read more >>