Posted By LSBF Blog Staff
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 >>
The Financial Conduct Authority (FCA) has announced the fourth round of successful businesses for its fintech sandbox.
Part of the FCA’s commitment to boosting innovation in financial services, the regulatory sandbox enables businesses to experiment with new products, services or business models in a live environment under appropriate protections.Read more >>
A new report from Equifax has revealed how banks can boost customer engagement through Open Banking.
The study identified the best ways that lenders can capitalise on the Open Banking initiative, which was introduced earlier this year and requires banks to share customer data with third-party companies.Read more >>
A survey from the Confederation of British Industry (CBI) has shown that financial services firms increased hiring in the second quarter of 2018 despite uncertainties over Brexit, with employment in the sector rising at the fastest pace in 12 months.
The study, which surveyed 100 Square Mile firms, found that 24% increased hiring in Q2 2018, while 70% are planning to increase investment compared to last year, with information technology being a main driver of investment.Read more >>
Facebook is expanding its #SheMeansBusiness programme as the social networking website looks to boost the number of female founders in the UK and strengthen the economy.
The programme has so far provided support to 13,000 women by helping them to achieve their business aspirations.Read more >>
Figures from the Department for International Trade (DIT) have shown that a strong global interest in the UK’s financial and travel services is helping to drive services exports growth, with a 4.2% rise in services exports.
Exports of goods and services from the UK hit a record high of £620.2bn in the year leading up to March 2018, with demand for high-quality services from Britain remaining strong.Read more >>
The latest Business Barometer from Lloyds Bank Commercial Banking has shown that businesses in London are the most confident in the UK, despite concerns over the economy.
The research, which surveys 1,200 businesses every month, also showed that London businesses are resilient despite uncertainties and are set to go ahead with their hiring plans, with 48% expecting to recruit more workers over the next 12 months. This is up by four points from last month.Read more >>
A study from management consultant firm the Boston Consulting Group (BCG) has named London as the best city in the world to work in.
The research was the largest-ever study of workforce migration trends, with 366,000 workers from nearly 200 countries being surveyed.Read more >>
The Women in Finance Awards 2018 has celebrated the achievements of women working across a wide range of sectors in financial services.
More than 220 finalists were recognised at the European finance industry’s biggest diversity event, which took place in London earlier this week.Read more >>
The latest figures from the Association of Professional Staffing Companies (APSCo) have shown that the number of candidates securing permanent placements in the financial services sector increased by 17% year-on-year in May 2018.
The figures, which focus on professional recruitment, also showed that while there was a drop in permanent vacancies, the number of candidates in permanent jobs increased by 9% over the 12-month period.Read more >>
UK building society Nationwide has launched a £50m fund aimed at financial technology businesses in the UK.
The fund will enable fintech companies to develop innovative products and services, with senior members of Nationwide’s staff also providing support to businesses.Read more >>
Figures published by the Hampton-Alexander Review have shown a rise in the number of women in FTSE 100 board positions.
The government-backed review was launched in 2016 and aims to get more talented women into senior roles, with FTSE 350 businesses being given a target of having 33% of women in FTSE 100 board positions by 2020.Read more >>
Lloyds Banking Group is set to become the first founding partner of a government-funded cyber innovation centre that has opened in London.
The London Office for Rapid Cyber-security Advancement (LORCA), which was launched by Digital Secretary Matt Hancock and is based in East London, will provide support to cyber-security start-ups, with a focus on businesses in the financial services sector.Read more >>
The Confederation of British Industry’s Director-General Carolyn Fairbairn has highlighted the importance of businesses taking a magpie approach and seeking out new technologies, stating that it could help to boost the UK economy by more than £100bn.
Fairbairn is also set to call for more support for Britain’s medium-sized businesses (MSBs) at the CBI’s MSB Summit to help them be more productive and improve the UK’s economic growth.Read more >>