LSBF Blog - Global Matters
Production has been approved for the Culzean gas field, the largest new oil and gas field to have been discovered in the North Sea in 10 years.
The UK Oil & Gas Authority has given Maersk Oil the go-ahead to start production, which is expected to meet 5% of the UK's entire gas needs when it hits its peak.Read more >>
Total, the French firm that is one of the biggest energy operators in the North Sea, has sold$900m (£585m) of its UK gas assets.
Two pipelines and the St Fergus terminal in Scotland are included in the sell-off, which has been blamed on the worldwide collapse of oil prices.
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A new survey from Lloyds Bank suggests that cash may soon become extinct as more Britons switch to alternate methods of making payments.
The increasing popularity of contactless payments and the continuing rise in debit and credit card use means that a quarter of Britons think they will not be using notes and coins within only five years.Read more >>
A report by ACCA has found that there is a clear correlation for high-growth businesses with finance functions, extending beyond pure funding functions to being a strategic business partner.
Rather than playing an auxiliary role, the report found the finance function "played a central role" in the business planning of most of these successful SMEs.Read more >>
Individual long-term investors in mid-sized businesses need to be encouraged by more tax incentives, according to a new report from the Confederation of British Industry & BDO.
The report, jointly authored by BDO and the CBI says that additional tax incentives would enable more of the country's medium-sized businesses to achieve their full potential.Read more >>
Telecom giant Ericsson has been hosting special ‘unconscious bias’ training courses for line managers to help achieve the target of having a 30% female work force by 2020.
The face-to-face sessions for thousands of employees are part of a mentoring programme for high-performing female employees to help them move forward in their careers.Read more >>
Although China's central bank has cut its key lending rate it has not halted further stock market falls.
The new rate cut by the central bank of 0.25 percentage points meant its key lending rate now stands at 4.6%, however this has failed to calm the nerves of stock markets.Read more >>
The Chartered Management Institute (CMI) has published research that reveals that female bosses in the UK work for almost two hours a day unpaid.
The findings come to light when salaries are compared to their male counterparts and adds up to 57 days every year.Read more >>
The chairman of KPMG has weighed in on the future of the mature audit business by claiming that the UK's largest auditors have a public interest commitment to retain them.
In the face of more lucrative growth prospects and changing industry demands and regulations, Simon Collins, KPMG's UK chairman, told the Financial Times he felt the profession "can't afford" to reduce client choice.Read more >>
One of Britain’s Big 4 firms, Deloitte, has a profit pool of £593m to be shared out amongst partners.
The money is the result of a surge in revenues from its consultancy business, and means that 721 partners will receive an average of £822,000.Read more >>
The Russian currency has fallen in value in the wake of decreasing oil prices and the panic sweeping through global markets.
Setting its rate for August 25 at 70,74 roubles to the dollar, the Russian central bank saw its currency value at the weakest it has been since 1998.Read more >>
The Office for National Statistics (ONS) has released figures for 'employed human capital' in the UK, which is the total estimated future earnings of everyone in jobs in the country.
The data shows that the value of employed human capital increased in 2014 to reach £18.22tn.
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The Confederation of British Industry (CBI) has claimed that increases in productivity, household spending, and business investment means UK GDP will see stronger growth than previously anticipated.
This has led the business lobby group to upgrade its forecast to 2.6% for the year.Read more >>
The continuing fallout from China's current domestic financial problems has hit stock markets in London, Paris and Frankfurt as investors become more concerned about the state of the world's second largest economy.
Shares fell sharply with London's FTSE 100 index down by 2.6% in morning trades while counterparts in France and Germany fell by almost 3%.Read more >>
The EU has given the go ahead for more tax breaks for films which are produced in the UK.
The government’s plans to enable film production companies to claim tax relief of 25% which would be payable towards the cost of production has received the green light.Read more >>
The industrial trends survey from CBI is a well-respected industry report, and this month it revealed an unexpected improvement on manufacturer's order books.
Economists had expected the monthly total order book balance to remain stagnant, but the figures show that output continued to increase at a steady pace for the three months to August.Read more >>
Isobel Sharp, former senior technical partner at Deloitte has joined the audit committee of IMI, an engineering group and a member of the FTSE 250, as a non-executive director.
The highly respected financial figure has an extensive background as an influential player in the UK economy and the appointment has been well received.Read more >>
The Institute of Chartered Accountants in England and Wales has appointed its first non-chartered accountant board members.
This historic move aims to widen the scope of diversity of thinking and experience at the organisation's highest levels.Read more >>
The latest figures from the Office for National Statistics (ONS) reveal that retail sales volumes in the UK rose by 0.1% in July.
This means the figure has bounced back from a fall in the previous month, which is good news for the continued revival of the UK economy.Read more >>
A mix of official data and estimates by NN Investment Partners, an investment bank, has revealed that the 19 largest emerging market economies saw a total net capital outflow of around £600bn ($940.2bn) over the past 13 months.
The bank, based in the Netherlands, reported the figure, which is almost double the net outflow in a nine-month period following the 2008 banking crisis.Read more >>
David Miles, the outgoing member of the Bank of England's monetary policy committee (MPC), has said that a rise in UK interest rates will happen sooner rather later.
During an interview on BBC's Newsnight programme, Miles said that rates would rise "pretty soon."
Read more >>
A new experiment run as part of a BBC Two programme has found that British pupils taught by Chinese teachers performed better in maths and science exams.
The study compared the British and Chinese school systems and used the results of a series of exams designed by The Institute of Education who acted as an independent research body.Read more >>
The Office for National Statistics has announced that it will change the way it comes up with its economic growth estimates.
The move is likely to cut costs for small businesses, as they are likely to have far fewer time-consuming surveys to complete.Read more >>
If you’re studying at university, chances are you’ve seen all the big employer names out on campus vying for your attention – and, ultimately, your talent.
Whether they’re running large campus events or popping up in your lecture theatres, you’re far more likely to meet a Times Top 100 employer than see a small, local start-up making an appearance on campus.Read more >>
Consumer Price Index (CPI) indicates July inflation rise in the UK by 0.1 per cent with strengthening of the Pound Sterling, allaying fears that the country was in danger of slipping into deflation.
The unexpected result has caused further pressure on the Bank of England to confirm when interest rates will be raised, given that they have been held at 0.5 per cent for the past 78 months. Inflation first reached zero per cent in February. The Bank of England now expects it to remain close to zero for the coming months, before rising to around 0.5 per cent at the end of the year.Read more >>