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NEWS - BUSINESS & ECONOMY

NEWS - BUSINESS & ECONOMY

City of London firms keep hiring levels high

November 11 ,2014 | by Thiago Kiwi

City of London firms keep hiring levels high

New figures show that London companies are not letting concern over slower growth affect their hiring tendencies.

There may have been some concerns that UK growth may slow as we move into 2015, but it’s clear that London employers aren’t letting such worries affect their hiring practices.

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London gives UK Treasury £34 billion boost each year

November 10 ,2014 | by Hari Sri

London gives UK Treasury £34 billion boost each year

A new report has highlighted the huge contribution that London makes to the UK economy.

It’s well-known that London is the business and finance hub of the UK, as well as being its biggest city by far and home to some of the highest relative property prices in the world. Yet the wealth being created in the capital also has a knock-on effect for the whole of the UK, according to figures from the Centre for Economics and Business Research (Cebr).

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Canary Wharf owners reject £2.2bn Qatar bid

November 07 ,2014 | by Thiago Kiwi

Canary Wharf owners reject £2.2bn Qatar bid

A takeover bid for Canary Wharf has been quickly rejected by its current operator.

Canary Wharf is at the heart of London’s financial centre, and it’s been a business hub ever since it regenerated part of the capital’s East End. But that also makes it attractive to major investors from around the world, and its current operator has just rejected a major offer to take over the development.

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Personal and SME banking to face competition probe

November 06 ,2014 | by Thiago Kiwi

Personal and SME banking to face competition probe

Personal current accounts and small business banking are about to come under scrutiny for the Competition and Markets Authority.

Consumers and small firms heard over the summer that authorities were planning to review how competition works when it comes to their banking sectors. Now the consultation has been completed and stakeholders have voiced their support, it’s set to become a reality.

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London Stock Exchange to shake up trading with midday stock auctions

November 06 ,2014 | by Thiago Kiwi

London Stock Exchange to shake up trading with midday stock auctions

The London Stock Exchange is hoping to win business back from dark pools with noon auctions from next year.

The shape of the London trading day is to change next year, after the London Stock Exchange (LSE) announced that it plans to introduce specific midday auctions for some of its most significant stocks.

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Fast-growing small firms power UK economic growth, says report

November 06 ,2014 | by Thiago Kiwi

Fast-growing small firms power UK economic growth, says report

A major chunk of the UK’s growth is coming from a small number of high-potential firms, figures show.

It’s well-known that small and medium-sized enterprises (SME) are the engine behind economic growth as the UK begins to recover. It’s hardly surprising either, given that they comprise the vast majority of UK firms. But new data suggests that within the SME sector, a few firms are truly punching above their weight.

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Demand for professional skills soars in the UK

November 04 ,2014 | by Thiago Kiwi

Demand for professional skills soars in the UK

Professional talent is in hot demand as businesses grow in confidence, APSCo says.

By now it goes without saying that the UK economy, and the employment market, are growing. More and more positive data is emerging showing that business confidence is on the rise and trading conditions are improving. As the latest data from the Association of Professional Staffing Companies (APSCo) shows, that is translating into higher demand for professional skills.

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From the world of business: October news highlights

November 03 ,2014 | by Hari Sri

From the world of business: October news highlights

Welcome to this month’s news round-up, containing all the major stories that have kept us talking in October.

 

Virgin Money plans $2 billion flotation

Virgin Money announced plans to pursue an initial public offering, and is reportedly aiming for a valuation of around £2 billion. The company made underlying pre-tax profit of £59.7 million in the first half of the year, rocketing upwards from £13.1 million in the same period last year. It will also have to pay £50 million to the government on completion of the IPO as part of the agreement it made with the government three years ago.

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UK one of the best countries for doing business, says World Bank report

October 31 ,2014 | by Thiago Kiwi

UK one of the best countries for doing business, says World Bank report

The UK has moved up the World Bank and IFC’s Doing Business index, indicating that it’s now an easier place to do business than it was just last year.

According to the survey, which was launched in 2002, the UK is now the 8th best country in which to do business, which is a two-place jump from last year’s position.

In first place was Singapore, which hung onto its top spot, followed by New Zealand, Hong Kong, Denmark, South Korea, Norway and the United States. Finland and Australia are ninth and tenth respectively.

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Want to own a part of Ferrari? Here’s your chance!

October 31 ,2014 | by Hari Sri

Want to own a part of Ferrari? Here’s your chance!

Fiat Chrysler Automobiles is to float one of the most popular, sought-after brands in the world of motoring – Ferrari, with an IPO valued to be worth $5.5 billion.

The company announced that Ferrari, which has set the benchmark in luxury high-performance vehicles, is to float the car manufacturer on the stock market, worth up to $5.5 billion.

Fiat Chrysler Automobiles, which has a massive 90 per cent stake in Ferrari, is to list ten per cent of its shares in the brand and distribute the remaining shares among its shareholders.

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UK retailers call for business rate reform to boost sector

October 30 ,2014 | by Hari Sri

UK retailers call for business rate reform to boost sector

The British Retail Consortium is once again urging the government to commit to overhauling business rates in the Autumn Statement.

The government needs to commit to a complete overhaul of the business rates system to give the retail industry a much-needed boost, especially in the case of small firms.

That is the view of the British Retail Consortium (BRC), which has published the details of its submission to HM Treasury ahead of this year’s Autumn Statement – the second biggest financial announcement of the year after the Budget in spring.

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Most UK SMEs predict double-digit growth in 2015

October 22 ,2014 | by Sarah Parkin

Most UK SMEs predict double-digit growth in 2015

Small businesses are seeking fresh growth in the UK with two-thirds anticipating double-digit growth in 2015 but are also concerned about having the resources to support it, an EE survey has found.

It’s generally accepted that conditions are getting better and better for small and medium-sized enterprises (SME) in the UK, and since SMEs make up the vast majority of all UK firms, they’re expected to be the engine of economic growth.

A recent study found that although this may be true, SMEs also have concerns about developing the right base from which to expand.

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Singapore and Hong Kong compete to be Asia’s top financial market

October 21 ,2014 | by Sarah Parkin

Singapore and Hong Kong compete to be Asia’s top financial market

Singapore and Hong Kong have much in common, but they are also competitors in Asia’s financial system.

When you think of finance in Asia, there are a few distinct locations that spring to mind. Tokyo and Shanghai are among the most well-known, but by far the most influential on the global and regional stages are Hong Kong and Singapore.

The two jurisdictions have a lot in common in many respects. They’re small cities that punch well above their weight in the global financial landscape, commonly used as bases for businesses looking to invest or expand into key Asian markets. Both have strong links with China, as well as with other key emerging economies across Asia-Pacific.

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More jobs as UK unemployment reaches lowest level since recession

October 17 ,2014 | by Thiago Kiwi

More jobs as UK unemployment reaches lowest level since recession

Unemployment is declining faster than expected, figures from the ONS show.

Unemployment is still falling as the UK’s economy continues with its growth phase, according to the latest data published by the Office for National Statistics (ONS).

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Growth attracts international talent into the UK job market

October 16 ,2014 | by Hari Sri

Growth attracts international talent into the UK job market

Recruiter report claims that skills gaps in the growing UK job market are attracting foreign talent.

The UK’s economic recovery is the envy of many other countries. While even some developed economies are struggling to get back into a growth phase, workers from around the world are increasingly looking to the UK for a fresh wave of opportunities. They’re also helping to fill the skills gaps exposed by fresh demand.

According to one expert, talent from struggling economies elsewhere are flocking to the UK to continue this trend.

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Education needs business backing, says London Mayor Boris Johnson

October 16 ,2014 | by Thiago Kiwi

Education needs business backing, says London Mayor Boris Johnson

The education sector needs more support from businesses through fresh investment, says Mayor of London Boris Johnson.

The Mayor of London has encouraged businesses to commit to offering more and better support to the education sector.

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Exports to comprise half of all SME revenue by 2019

October 14 ,2014 | by Thiago Kiwi

Exports to comprise half of all SME revenue by 2019

A new report from DHL has highlighted the huge potential of exports in helping SMEs grow.

Small and medium-sized enterprises (SMEs) are the driving force behind most world economies, but international trade could well be the most important element in giving them the boost they need. According to a new reportconducted by the Economist Intelligence Unit by logistics and delivery firm DHL Express, overcoming global barriers could lead to a significant change in the way small firms draw their revenue.

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British Chambers of Commerce calls for export boost for businesses

October 13 ,2014 | by Hari Sri

British Chambers of Commerce calls for export boost for businesses

The British Chambers of Commerce has called for more concerted efforts to find solutions to challenges facing would-be exporters in the UK.

The head of one of the UK’s most influential business organisations has voiced his support for further efforts to promote exports from the UK.

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Jimmy Choo IPO could value luxury shoe maker at $1.1 billion

October 08 ,2014 | by Sarah Parkin

Jimmy Choo IPO could value luxury shoe maker at $1.1 billion

Shoe retailer Jimmy Choo could float on the London Stock Exchange at a valuation of $1.1 billion.

Jimmy Choo is one of the world’s most recognisable fashion brands, with fans around the world who clamour for its most high-end shoe designs. When it hits the stock market next week, it is hoping that investors will be every bit as excited.

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Obama and Modi meet to boost US-India ties

October 01 ,2014 | by Hari Sri

Obama and Modi meet to boost US-India ties

US president Barack Obama and Indian PM Narendra Modi have come together for talks in the White House this week in a bid to strengthen strategic ties.

India and the US see each other as strategically important – one is among the world’s emerging economic powerhouses, the other has the planet’s largest economy.

So when the leaders of the two countries finally met in person to begin a series of talks this week, it was clear Barack Obama and Narendra Modi would be focusing on strengthening the relationship between their nations.

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IMF: Slow and steady growth worthwhile for China

September 29 ,2014 | by Thiago Kiwi

IMF: Slow and steady growth worthwhile for China

An IMF expert has said that sustainable growth in China would be worth a slower rate of expansion.

Concern has emerged in global markets about a potential slowdown in China, and what easing demand in one of the world’s biggest economies could mean for the rest of the world. But according to the International Monetary Fund (IMF), slower growth would be worthwhile to ensure that Chinese expansion is sustainable.

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France seeks German support for economic reforms

September 29 ,2014 | by Sarah Parkin

France seeks German support for economic reforms

France is hoping that German support will help it implement economic reforms.

Europe has faced its economic struggles since the financial crisis, and France has become seen as one of the weaker links in the eurozone chain. But its government is working hard to implement economic reforms and to do that, it’s looking to Germany for support.

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UK e-commerce surge imminent, claims Barclays report

September 25 ,2014 | by Hari Sri

UK e-commerce surge imminent, claims Barclays report

Report released by Barclays claims that a huge rise in e-commerce over the next few years is expected in the UK.

E-commerce is already a growing and promising sector of the economy in the UK, but it seems there are even better times to come for online retailers. According to a new report from Barclays, there’s a boom coming in the e-commerce sector.

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Business leaders call for UK minimum wage rise

September 22 ,2014 | by Hari Sri

Business leaders call for UK minimum wage rise

A group of business leaders have called for a higher minimum wage, and unions have welcomed the news.

The UK introduced the National Minimum Wage as a means of protecting low-paid workers and ensuring a basic minimum income for the nation’s employees. Not every business supported the move when it was first introduced, amid concerns that it would drive up operating costs and damage the fortunes of the company – but as it has become entrenched in the labour market, it’s hard to imagine Britain without it.

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US stimulus nears end but rates stay low

September 19 ,2014 | by Thiago Kiwi

US stimulus nears end but rates stay low

The US will end its quantitative easing programme next month, but it is not yet clear when interest rates will rise.

US monetary policy has been decidedly loose since the financial crisis. The Federal Reserve has been buying bonds for the past six years and interest rates have remained low over that same period. With more than $4 trillion Treasury and mortgage bonds reportedly purchased by the Fed since 2008, it is finally due to end its asset purchase programme next month.

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