NEWS - BUSINESS & ECONOMY
Research from fintech firm Crealogix Group has shown that consumers need to be provided with more information on the benefits of Open Banking.
The study surveyed 2,000 UK consumers and identified some of the barriers that Open Banking will need to address in order for the initiative to be adopted on a wide scale.Read more >>
The latest Lloyds Bank Business Barometer has shown that businesses in London are the most optimistic in the UK, with positivity standing at 42% compared to the UK average of 33%.
Businesses in the city are also feeling positive about exporting, with more than half of respondents planning to export or enter a new market over the next six months.
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Research from peer-to-peer business lender Growth Street has shown that small and medium-sized enterprises in London are leading the way when it comes to awareness of the alternative financing options that are available to them.
The study surveyed 1,000 SMEs across the UK, exploring their views on business finance and exporting, and revealed that more than half of London-based respondents believe that there is enough guidance available to businesses that wish to export, compared to 36% of businesses across the rest of the UK.Read more >>
A study from PwC has shown that more than 40 per cent of Asia Pacific businesses are looking for new mergers and acquisitions, creating opportunities for businesses in the UK that are looking to expand their business overseas.
The professional services and Big Four firm is urging businesses in the Asia Pacific region to invest in UK businesses as part of its support for GREAT, a campaign run by Britain’s Department for International Trade that aims to help overseas businesses boost their growth in the UK.Read more >>
A report from Hampshire Trust Bank has shown that more than 50 per cent of UK SMEs are feeling optimistic about the long-term economic prospects of their industry, with finance and accountancy firms being amongst the sectors that are feeling the most positive.
The specialist bank’s SME Growth Watch highlighted the importance of business confidence when it comes to economic growth, with 56 per cent of finance and accounting businesses feeling optimistic about their long-term economic prospects.Read more >>
A report from Z/Yen has shown that London continues to be the world’s leading financial services centre.
The city earned the top spot in the think tank’s 23rd edition of its global financial centres index, which analysed 110 cities and ranked them using data from the World Bank, the United Nations and the OECD.Read more >>
Research from Hitachi Capital Business Finance has shown that small businesses need to explore the wide range of finance options available to them.
The study found that start-ups are nearly twice as likely to use personal savings as those that have been in business for a decade or more, suggesting that small businesses in the UK are not seeking support from high street lenders.Read more >>
A survey from professional services and Big Four firm KPMG has found that businesses in the UK value legal certainty over an ambitious Brexit deal agreed later on.
The study surveyed 280 chief financial officers and chief executive officers to find out how important a steady transition deal is to their business.Read more >>
A report from the City of London Corporation has shown London is a world leader for attracting international talent in financial services.
The report, entitled The City as a Place for People, showed 89% of global institutional investors believe London is the best European city when it comes to financial services talent.Read more >>
A survey from the Confederation of British Industry (CBI) has shown that businesses in the UK grew at the fastest rate since December 2015 in the three months leading up to February.
The CBI’s monthly growth indicator surveyed more than 670 respondents across sectors such as business and professional services, and found that business output more than doubled to +20 last month, up from +9 in the three months leading up to January.Read more >>
The latest Business Barometer from Lloyds Bank Commercial Banking has shown business confidence in London was the joint highest of all regions in the UK in January.
The Business Barometer, which is released monthly and has been running since 2002, was carried out on a regional basis for the first time, with 1,200 businesses surveyed.Read more >>
UK lawmakers have urged financial regulators to help keep London a major global financial centre after Brexit.
A report from a House of Lords committee has suggested the UK government could require regulators to boost competitiveness in the industry and help to ensure the capital remains a global base for financial dealing.Read more >>
Bank of England Governor Mark Carney has predicted a “conscious recoupling” of the UK economy with the rest of the world as Brexit continues.
Carney was speaking to the BBC at the World Economic Forum in Davos, and admitted that the UK economy is currently an outlier in terms of global economic growth.Read more >>
US Treasury Secretary Steve Mnuchin has said the UK will be at the head of the queue for negotiating free trade agreements with the US.
Mnuchin, who has a leading role in overseeing the US economy, made the promise at the World Economic Forum in Davos.Read more >>
The immediate future of the global economy looks good, according to the latest report from the International Monetary Fund (IMF).
The IMF has found that the recent upturn in international trade is led by growth in Europe and Asia.Read more >>
A survey commissioned by global business analytics firm Dun & Bradstreet and the Small Business Research Centre has found that SMEs are feeling confident about their future despite uncertainties over Brexit.
The research surveyed 505 managers and found that 54 per cent are feeling confident about their future success, whilst 75 per cent are confident that they will achieve financial growth over the next five years.Read more >>
British banks could help to boost the UK’s productivity growth, according to Bank of England Monetary Policy Committee (MPC) member Silvana Tenreyro.
Delivering her first public speech as an MPC member, Tenreyro said that she believes UK banks have almost recovered from the financial crisis ten years ago, which could lead to a rise in UK productivity as the finance industry’s performance starts to improve.Read more >>
The government will make the UK’s financial services sector a priority in the next round of Brexit negotiations, according to Theresa May.
The Prime Minister met with a number of financial services leaders to discuss the UK’s exit from the EU, with input being provided by bosses from major banks and financial institutions such as HSBC, Barclays, Goldman Sachs, JP Morgan Chase, and Prudential.Read more >>
The latest Business in Britain report from Lloyds Bank has shown that business confidence in London has reached its highest level since 2016.
The report surveyed more than 1,500 businesses on their expected sales, orders and profits over the next six months and found that business confidence has risen to 25 per cent, an improvement on figures from July 2017 and after the EU referendum in 2016, when business confidence stood at 20 per cent and just 4 per cent respectively.Read more >>
A report from retail bank Aldermore has shown small and medium-sized businesses are optimistic about obtaining finance over the next year.
The Aldermore Future Attitudes report surveyed more than 1,000 business decision-makers across the UK. They found 75 per cent are confident they will be able to access funding to achieve their growth ambitions, up from 63 per cent in Q4 2016.Read more >>
Lloyds Bank’s Business in Britain report from early 2017 has shown confidence among stabilised at the start of the year after a dip in the summer.
The report’s confidence index increased to 14 per cent, up from 12 per cent in September in the previous year.Read more >>
Research commissioned by London Block Exchange (LBX) has found that 33 per cent of millennials will have invested in digital currency by the end of 2018.
The study, which was carried out by Opium Research, surveyed 2,000 Britons and showed a significant increase in the number of young adults planning to invest in digital currency. 5 per cent of millennials already do this.Read more >>
Research from the Institute of Directors (IoD) has found that business leaders in the UK have very confident expectations for their companies in 2018.
The study found that nearly half of business leaders were feeling quite optimistic or very optimistic about what 2018 will bring for their business.Read more >>
Research from the British Business Bank and the UK Business Angels Association (UKBAA) has shown an increase in angel investment in the UK.
The study revealed more than 40 per cent of angels invested more in 2016 than in the previous year.Read more >>
A new survey from the Institute of Directors (IoD) has shown that UK entrepreneurs are feeling confident, with those who run young companies feeling more positive than those running established companies.
The research surveyed 628 members from entrepreneur group IoD99 and found that 83 per cent of entrepreneurs are feeling optimistic about their business prospects over the next year, compared to just 56 per cent of businesses in the IoD overall membership, who were surveyed in separate research.Read more >>