LSBF Blog - Global Matters

Blue-chip bosses in UK earn 183 times more than other employees

August 19 ,2015 | by Thiago Kiwi

Britain’s top companies have a widening pay gap between bosses and average workers, according to a new report.

The High Pay Centre pressure group has revealed that the average FTSE 100 chief executive earns 183 times more than employees lower down the scale. What's more, although the FTSE 100 shrank by 3% in 2014 average executive remuneration increased.

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Gender pay gap should go says leading UK investment figure

August 19 ,2015 | by Claire Payne

By pointing out that there are twice as many CEOs and chairmen of FTSE 100 companies called 'John' than the total number of women holding such positions, a leading UK investment expert has highlighted how far gender equality has to go in the UK.

As CEO of Newton Investment Management, chair of the Investment Association and founder of the 30% Club, Helena Morrissey is perfectly placed to comment on the place of women in the UK economy.

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Japan's economic growth plan fails

August 18 ,2015 | by Thiago Kiwi

Japan's Prime Minister Shinzo Abe’s efforts to reverse years of poor growth with a big stimulus programme have proven disappointing as output contracted by 0.4% in the second quarter.

Official data revealed the shrinkage and underlined the so-called “Abenomics” growth policy's failure to make a difference so far.

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Applications to PwC student programmes at record high

August 18 ,2015 | by Erin O’Neill

Big 4 accountancy firm PwC has received the most applications from students this year.

One of the most established players in the accountancy sector recently made a controversial move regarding entry criteria and has now seen a huge surge in graduate and apprenticeship interest.

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Industrial commodities drag global markets down

August 17 ,2015 | by Thiago Kiwi

Industrial commodity values have taken a hit thanks to the continued uncertainty surrounding China’s economy, and the possibility of further devaluations of the yuan.

The price of crude oil has been particularly effective, with the cost per barrel dipping to a six-year low in the US.

As a result of this, European and American stock markets have dropped slightly. The FTSE Eurofirst 300 has fallen by 0.5 per cent, and the American Standard & Poor 500 was down seven points on opening to 2084.5.

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China’s slowdown and America’s recovery squeeze emerging markets

August 17 ,2015 | by Erin O’Neill

One of the biggest financial stories of the 21st century so far has been the increasing importance of emerging markets.

Now, many are facing the prospect of being caught in the middle of the fallout from China’s current slowdown and America’s ongoing recovery.

 

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Sustainable innovation drives the future of cities, says MIT researcher

August 17 ,2015 | by Hari Sri

Sustainable innovation is an essential part of developing the cities of the future, according to a top MIT researcher.

Wei Pan claims that urban density is one of several trends that are facilitating new sustainable business models with a connection that she calls “social-tie density”.

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Apple hires 11,000 female employees within a year

August 17 ,2015 | by Claire Payne

Over the last 12 months, tech giant Apple hired more than 11,000 new female employees around the world.

In the US, almost 50% of the company’s new workers in the first half of 2015 were women, Native American, black or Hispanic.

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Audit market sees surge in aggressive headhunting

August 14 ,2015 | by Thiago Kiwi

Recruitment tactics used by the high end accounting firms in the UK are becoming increasingly aggressive, a senior partner in one of the Big 4 recently went on record as saying.

A limited pool of talent, when it comes to experienced senior auditors, means that poaching has become the norm amongst competing companies.

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A-level results see drop in top grades but more university places

August 14 ,2015 | by Claire Payne

With the results of this year's A-level exams just coming in, the latest figures reveal a slight fall in top grades achieved.

Despite this, a record numbers of students have been offered university places.

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ACCA says businesses are at risk from gender inequality

August 14 ,2015 | by Erin O’Neill

When it comes to the workplace, the battle of the sexes could have serious implications for businesses across the world according to the CEO of ACCA.

Helen Brand, OBE, the Chief Executive of the Association of Chartered Certified Accountants, raised the issue in her keynote speech opening the Women in Finance breakfast hosted in Kampala.

 

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Willingness key to successful accounting career, says AAA

August 13 ,2015 | by Helen Gould

The recent American Accounting Association's annual meeting saw the presentation of a paper that outlined the reasons why the most successful corporate accountants are hired and promoted.

According to the association's new study, the key to having a successful corporate accounting career appears to revolve around a willingness to interpret earnings data.

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UK wage growth and employment slows

August 13 ,2015 | by Thiago Kiwi

In news that has surprised economists, the UK’s wage growth has slowed, while the levels of unemployment have risen.

The Office for National Statistics (ONS) has revealed that wage growth was at 2.4 per cent for the three months to June, compared to 3.2 per cent in the three months to May. While experts had predicted a slight levelling-off in the rate of increase, their prediction had been for 2.8 per cent.

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Expansion in low-paid work is cause of puzzling UK productivity

August 13 ,2015 | by Hari Sri

A shift in the UK economy towards sectors such as food and accommodation could be behind the current 'productivity puzzle', according to the Institute for Public Policy Research (IPPR).

An expansion in the number of lower paying jobs in unskilled and low skilled market areas could explain why UK productivity has fallen while the overall economy has been growing.

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Quarter of UK SMEs at risk due to late payments

A new report highlights the dangers faced by small businesses because of cash flow problems caused by late payments.

The newly published research from the Tungsten Corporation warns that as many as a quarter of UK SMEs may be at risk of insolvency.

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Greek bailout deal approaches final stages

August 12 ,2015 | by Claire Payne

Negotiations surrounding the latest Greek bailout deal seem to be entering their final stages as Greek ministers and EU officials began to agree on the details of the settlement.

A draft of the agreement has now been submitted to the Greek Parliament for their assent, ahead of the £2.5 billion repayment due to the European Central Bank (ECB) next week. It is hoped that the matter will proceed to a full debate and vote on Thursday. An emergency session of Parliament has been called to ensure that the deal can be voted on in time.

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China devalues in attempt to reverse economic woes

August 12 ,2015 | by Erin O’Neill

This week, China's central bank devalued the yuan (also known as renminbi) currency by nearly 2% against the US dollar.

The world's second-largest economy has been undergoing a reversal of fortunes as of late, and the latest surprise move shows just how much the authorities want to address the financial slowdown.

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Enterprise Uganda and ACCA announce new partnership

ACCA (the Association of Chartered Certified Accountants) has signed a new agreement with Enterprise Uganda that will offer wide-ranging training, support and mentoring for the country's growing small business sector.

The Memorandum of Understanding (MOU) will allow ACCA members to volunteer to mentor small businesses and help them through challenges and encourage growth.

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Chinese inflation rates continue to rise

August 11 ,2015 | by Hari Sri

The consumer inflation rate in China rose to 1.6% in July from 1.4% in June, marking the highest level this year.

The government blamed rising food prices for the increase, which is still well below the target of about 3% that it had set previously.

However, economic analysts say the latest figures highlight a need for the world's second-largest economy to take measures to stimulate growth.

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Changing consumer behaviour hits UK supermarkets

August 11 ,2015 | by Erin O’Neill

Some of Britain’s top companies could see profits fall by more than a third, and it is all caused by the way consumer behaviour is affecting supermarkets according to a study of new figures.

The Share Centre compiled and analysed quarterly results that revealed like-for-like pre-tax profits for the FTSE 350 were down nearly 37% in the first quarter of the financial year.

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Girls dominate admissions to leading universities

August 11 ,2015 | by Helen Gould

Head of the admissions service UCAS says that there is now a significant gender gap for admissions to leading universities in the UK.

UCAS chief executive, Mary Curnock Cook, has urged action to increase the number of boys applying to go to university.

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Alphabet: Google stuns markets with restructuring

August 11 ,2015 | by Thiago Kiwi

Internet search giant Google has surprised economists around the world by announcing that it will become part of a holding company called Alphabet, shared in a blog post by co-founders Larry Page and Sergey Brin.

As part of the changes, Google will be rebranded as Alphabet. Control of the company’s search engine services will be handed over to Sundar Pichai, who will become the CEO of Google.

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Greece and lenders prepare for talks on new bailout

August 10 ,2015 | by Claire Payne

The main financial story in Europe over the last few months has been the ongoing struggle of the Greek government to find a way to manage its debts.

It has been announced that talks are underway in a bid to agree a new bailout deal that could help secure the country’s future stability. The matter is all the more pressing because Greece’s next repayment to the European Central Bank (ECB) is on August 20th, and the country does not currently have the means to pay.

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UK trade deficit improves as exports rise

August 10 ,2015 | by Claire Payne

The latest figures from the Office for National Statistics show that the UK's trade gap decreased by £2.7bn in the second quarter of this year.

The news from the ONS revealed that the country's trade deficit with the rest of the world dropped to £4.8bn in spite of the strength of the pound on the international money markets.

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Low oil prices force Saudi Arabia to borrow heavily

August 10 ,2015 | by Erin O’Neill

Although often seen as a country of limitless wealth, budget deficits are forcing Saudi Arabia to borrow more capital from both local and international creditors.

The situation has arisen after oil prices fell from June 2014's $107 a barrel to $50 at current levels.

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