Posted By LSBF Blog Staff
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 >>
Research from UK job board CV-Library has shown that some of the UK’s key industries saw a significant increase in pay in June, with accounting making the list.
The study compared data from June 2018 with figures from the same period in 2017 and found that advertised salaries for new jobs increased by 1.2% across the UK.Read more >>
A report from the Centre for Research on Self-Employment (CRSE) has highlighted the importance of improving the wellbeing of self-employed workers.
The report, which is entitled “The Way to Wellbeing” and was released on National Freelancers Day, shows how boosting the happiness and wellbeing of self-employed workers can help to improve business performance and benefit the UK economy.Read more >>
The Financial Conduct Authority (FCA) is proposing a new Directory to help boost the protection of consumers and businesses by making it easier for them to access the history and status of individuals working in the finance sector.
The Directory will enable consumers to access information on staff working across a number of different areas in the sector, including investment advisors.Read more >>
Financial start-up support charity The Finance Innovation Lab has released a report calling for a new regulatory compass, with financial regulators in the UK being urged to adopt a purpose-driven approach to financial regulation.
The report, entitled The Regulatory Compass: Towards a purpose-driven approach to financial regulation, suggests that regulators change their approach to make sure that the financial sector can deliver for the UK economy and society after Brexit.Read more >>
A study from recruitment firm Hays Accountancy and Finance has revealed what workers in the finance sector want from their employers.
The recruitment firm’s What Workers Want study surveyed 14,000 professionals, more than 2,000 of whom were finance professionals, and revealed the top reasons for workers being deterred from a job role, as well as the most important factors to consider when deciding on a job role.Read more >>