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NEWS - BUSINESS & ECONOMY

NEWS - BUSINESS & ECONOMY

Attracting talent crucial to London’s status as financial centre

Attracting talent crucial to London’s status as financial centre

A report from UK financial and related professional services membership body TheCityUK and Big Four accountancy firm EY has highlighted the importance of attracting and retaining talented workers after Brexit.

The report, which was previously a draft version but has now been released in full, includes a number of recommendations to help protect London’s status as a financial centre after the UK has exited the EU, including an improved immigration system.  

 

 

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Global banks demand visa waiver to protect London’s financial status

Global banks demand visa waiver to protect London’s financial status

Britain’s global banks are calling for a special UK visa waiver for workers after the UK exits the EU to help protect the City of London’s status as a leading financial centre.

The suggestion is one of the key recommendations in a report from UK financial and related professional services membership body TheCityUK and Big Four accountancy firm EY. 

 

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Business confidence reaches two-year high, according to ICAEW

Business confidence reaches two-year high, according to ICAEW

The latest Business Confidence Monitor (BCM) from the Institute of Chartered Accountants in England and Wales (ICAEW) has shown that business confidence in the UK has reached its highest level in two years.

The BCM surveyed more than 1,000 chartered accountants between January and April 2018 and found that confidence increased to 7 points in the second quarter of the year, up from -1 in the first quarter, whilst optimism amongst companies that are exporting also increased.

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Trust in UK banks reaches highest level since 2012

Trust in UK banks reaches highest level since 2012

A new study from management consulting firm Accenture has shown that trust in UK banks has reached its highest level since 2012.

The company’s UK Financial Services Customer survey 2018 surveyed more than 4,500 people in the UK who use banking, wealth management and insurance services and found that consumer trust in banks has increased over the past couple of years, rising by 11%.

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British Business Bank to help small businesses boost UK economy

British Business Bank to help small businesses boost UK economy

British Business Bank is to provide support for small businesses in the UK by taking its CRM system to phase two.

The system will provide small businesses with more access to financial markets, enabling them to grow their company, create more jobs and boost the UK economy.

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Businesses optimistic about future growth, according to BDO Index

Businesses optimistic about future growth, according to BDO Index

A report from accountancy and business advisory firm BDO LLP has shown that businesses in the UK continue to be optimistic about their future growth, despite a drop in business output.

BDO’s Output Index showed that UK business output dropped from 100.05 in March to 99.97 last month, which was below the long-term growth trend of 100. However, the company’s Optimism Index found that businesses continued to feel confident about their financial prospects.

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Research shows increase in accountancy jobs and salaries

April 25 ,2018 | by LSBF Blog Staff

Research shows increase in accountancy jobs and salaries

Research from CV-Library has shown an increase in jobs and salaries in the accountancy sector in the first quarter of 2018.

The study compared the number of job applications, jobs and salaries in Q1 with the first and fourth quarter of 2017 and found that the number of jobs in the accounting sector increased by nearly a quarter year-on-year.

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More awareness of Open Banking benefits needed

April 17 ,2018 | by Anisa Choudhary

More awareness of Open Banking benefits needed

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.

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London businesses most optimistic in UK, report shows

April 16 ,2018 | by Anisa Choudhary

London businesses most optimistic in UK, report shows

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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London SMEs most aware of alternative financing options

April 10 ,2018 | by Anisa Choudhary

London SMEs most aware of alternative financing options

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.

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Asia Pacific businesses creating opportunities for UK firms

April 09 ,2018 | by Anisa Choudhary

Asia Pacific businesses creating opportunities for UK firms

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.

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Finance SMEs optimistic about economic prospects, study shows

March 29 ,2018 | by Anisa Choudhary

Finance SMEs optimistic about economic prospects, study shows

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.

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London remains world leader for global financial services

March 27 ,2018 | by Anisa Choudhary

London remains world leader for global financial services

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.

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Small businesses need to explore finance options available to them

March 14 ,2018 | by Anisa Choudhary

Small businesses need to explore finance options available to them

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.

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Business leaders value legal certainty over ambitious Brexit deal

March 12 ,2018 | by Anisa Choudhary

Business leaders value legal certainty over ambitious Brexit deal

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.

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London a world leader for attracting financial services talent

March 06 ,2018 | by Anisa Choudhary

 London a world leader for attracting financial services talent

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.

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UK business growth reaches two-year high, according to survey

March 05 ,2018 | by Anisa Choudhary

UK business growth reaches two-year high, according to survey

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.

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London business confidence highest in UK, report shows

February 01 ,2018 | by Anisa Choudhary

London business confidence highest in UK, report shows

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.

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Regulators could help London stay competitive

January 29 ,2018 | by Anisa Choudhary

Regulators could help London stay competitive

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.

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Bank of England Governor predicts “conscious recoupling” of economies

January 26 ,2018 | by Anisa Choudhary

Bank of England Governor predicts “conscious recoupling” of economies

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.

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UK forerunner in queue for US trade deals

January 25 ,2018 | by Anisa Choudhary

UK forerunner in queue for US trade deals

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.

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IMF gives optimistic report on global trade

January 23 ,2018 | by Erin O’Neill

IMF gives optimistic report on global trade

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.

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SMEs confident about financial growth, survey shows

January 18 ,2018 | by Erin O’Neill

SMEs confident about financial growth, survey shows

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.

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British banks could help to boost UK’s productivity growth

January 17 ,2018 | by Erin O’Neill

British banks could help to boost UK’s productivity growth

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.

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Financial services to be a priority in Brexit deal

January 15 ,2018 | by Anisa Choudhary

Financial services to be a priority in Brexit deal

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.

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