LSBF Blog - Global Matters
The UK economy showed improvement in the three months to December with a growth of 0.5%, according to the Office for National Statistics.
Overall growth in 2015 was 2.2%, a figure that was predicted by the International Monetary Fund (IMF). Whilst the annual growth rate has been slow over the past few years, the UK economy is still one of the fastest growing of the developed nations.Read more >>
Wales is the UK’s top spot for business growth in the finance sector, according to research from accountancy firm, Nixon Williams. The number of start-ups in the financial services sector increased by 11.2% in 2015, higher than in any other location in the UK.
Research showed that the total number of financial services businesses, including services such as banking, fund management and insurance, rose from 2,400 to 2,695 between 2014 and 2015. Scotland came in second, with an increase of 10.9% since 2014, whilst London, north east England, Yorkshire and Humberside reached third place at 9.7%.Read more >>
Grimsby has become an ideal location for those looking for a career in management accountancy.
Members of the Chartered Institute of Management Accountants (CIMA) in the Yorkshire and Humber area earned almost double the UK national average salary in 2015.Read more >>
Bloomberg has published a list of the most innovative startups in the UK. The list, titled “Business Innovators 2016”, was selected by a panel of judges along with Bloomberg Head of European Technology News Nate Lanxon and Bloomberg Television’s Caroline Hyde.
The panel comprised ten business experts, including finnCap Ltd founder and CEO, Sam Smith, and ENTIQ Managing Director, Eric van der Kleij.Read more >>
Rentals in London are now so high that even young professionals in the financial sector are unable to keep up with costs, despite the average wage being 30 per cent higher than in other sectors.
Business experts have warned that rising costs could affect the city’s role as a leading financial centre, as young bankers may end up being unable to afford to continue living in the city.Read more >>
Some of the UK’s leading female entrepreneurs have united in a bid to urge Britons to stay in the European Union (EU).
Fifty successful females, including business leaders, authors and entrepreneurs, have joined a campaign set up by Women IN chair Jenny Halpern Prince to encourage an in-vote.Read more >>
A UK vote to leave the EU will cause an economic and financial shock for the UK, analysts at Credit Suisse have warned. Whilst analysts predict that the UK will vote to stay in the EU, they say that the consequences will be “drastic and long lasting” if a Brexit does occur.
Credit Suisse economists, Neville Hill and Sonali Punhani, said that a drop in business investment, hiring and confidence is expected.Read more >>
London has been named the number one city for start-ups in Europe, according to the European Digital City Index (EDCI), which was developed by charity Nesta in association with the European Digital Forum.
The analysis named the best cities for digital start-ups and innovation, and was created to provide a “holistic and local view across Europe, describing what ecosystem factors are most conducive to encouraging digital start-ups (and scale-ups).”Read more >>
CEO of Northern Trust, Wayne Bowers, has spoken of his belief that the increase in regulations in financial services are fully justified.
In an interview with LSBF, Mr Bowers admitted that getting to grips with regulatory environments can be a challenge for companies and those looking to launch a career in the industry.Read more >>
PwC has acquired Praxism, the specialist identity and access management consultancy based in Edinburgh.
The move is the latest in the Big Four firm's extensions of its own cybersecurity practice and a further recognition of the importance of the issue to the financial sector.Read more >>
The creative industries contributed £84.1billion to the UK economy in 2014, which is a rise of £7billion from 2013.
The sector grew almost twice as fast as the wider economy, according to figures released by the Department for Culture, Media and Sport.Read more >>
According to recruiters, the bosses of a majority of British companies expect to hire more staff this year.
Executives in the finance, accounting and marketing sectors are particularly interested in expanding their workforces in the next 12 months due to sustained economic growth.Read more >>
Preparations now need to be made by accountants and other professionals who may be responsible for maintaining the statutory registers of companies and LLPs.
The new register of people with significant control (the PSC register) will come into effect for companies from 6th April and will be extended to LLPs later in the year.Read more >>
Big Four firm Deloitte has released its latest study identifying trends currently having an important impact on companies across various industries.
The multinational systems designer, integrator and consultant has issued its third Analytics Trends report, which was released on 13th January. The study picks out items of importance for business operation in the accountancy and financial sectors and beyond.
Read more >>
In what could be seen as some more good news for the UK economy, Government spending dipped in December to stand at £7.5bn, which is £4.3bn lower year-on-year.
However, the official figures show that the running total is above the £68.9bn forecast by the independent Office for Budget Responsibility (OBR) for the whole fiscal year ending April 2016.Read more >>
The Eurozone's interest rates remain unchanged after the European Central Bank (ECB) decided to keep them at 0.05% at its latest meeting.
The decision was widely expected, as was the choice to leave the overnight deposit rate at -0.3% after its change last December.Read more >>
The trade association for mortgage lenders in the UK, the Council of Mortgage Lenders (CML), has reported that annual mortgage lending is at a seven-year high.
According to the latest CML estimates, gross mortgage lending in the UK reached £19.9 billion in December.Read more >>
The Society of Motor Manufacturers and Traders (SMMT) has released figures that show the British car industry's output hit a ten-year high last year.
Although the news is good for the UK economy's recovery process, the numbers were actually lower than had been forecast, in part due to decreasing demand in Russia and China.Read more >>
The UK LGBT equality charity Stonewall has given EY their coveted Star Performers award for being one of the most consistently LGBT-friendly firms to work in across all sectors of the UK economy.
Also in Stonewall's Top-100 Employers 2016 rankings, PwC ranked 11th and KPMG was in 44th position.Read more >>
Countries should consider introducing a voluntary tax on leisure activities, a new United Nations (UN) study says.
Football matches or music concerts could have a levy that raises funds needed by the organisation for its humanitarian operations, the international body suggests.Read more >>
Deloitte's Society Partnership initiative is on the lookout for up to 40 charity partners in its ongoing efforts to provide services to improve people's employment prospects.
The company has offered to support charities and social enterprises on a new three-year corporate social responsibility programme, and applications are open now.Read more >>
The Chartered Institute of Taxation (CIOT) has called for a rethink on the new UK National Insurance contributions (NICs) allowance reform.
The professional body has questioned proposals that will exclude one-person businesses from claiming the National Insurance Employment Allowance (EA).Read more >>
The Experian CorpFin league table is a respected metric for the UK accountancy and financial sectors, and this year Grant Thornton UK has come out on top for the fourth time running.
The position recognises the firm's standing as the number one financial adviser to UK companies by deal volume, having advised on 128 publicly disclosed deals last year.Read more >>
Under proposed changes to taxation laws in the UK, from 6th April 2016 certain temporary workers will no longer be able to claim relief for travel and subsistence expenses.
The current tax relief and disregard for National Insurance contributions (NIC) on travel and subsistence expenses rules allow for expenses claims incurred by these workers on their commute.Read more >>