LSBF Blog - Global Matters
The UK’s economy is on a “firm footing” after growing faster than predicted in 2014 according to CBI forecast.
Britain’s economy has nothing to worry about, despite a slight downgrade in recent growth forecasts. In fact, the UK’s economy is on a “firm footing” after growth in 2014 surpassed expectations. Predictions point towards solid, steady and sustainable growth in 2016, according to the Confederation of British Industry (CBI).Read more >>
Data-oriented health tech startups grow in strength as experts note that the recent boom is no bubble.
The number of health-focused companies that utilise data analysis techniques is not likely to decline any time soon, according to a panel of speakers from health technology companies at the Wisconsin Entrepreneurs’ Conference. Meanwhile, the surge in these startups is driving a wave of recruitment of some of the internet’s top talent.Read more >>
UK Chancellor George Osborne announces plans to sell off government's remaining 30 per cent stake in Royal Mail.
In a bid to further reduce the budget deficit, UK chancellor George Osborne revealed plans to sell the remaining 30 per cent stake in Royal Mail. The shares are currently worth £1.5 billion and the sale will begin later this year, Mr Osborne announced on Thursday.
The plans were detailed alongside £3 billion worth of debt-reduction measures, which highlight the Conservatives' pledge to wipe out national debt.Read more >>
Speaking at the Going Global conference, former Universities Minister David Willetts called for funding support for students looking to study abroad.
The Treasury should extend student loan funding to support students who wish to complete some of their studies abroad, according to David Willetts, the former Universities Minister. Speaking at the British Council’s Going Global conference this week, Mr Willetts lamented the lack of progressive funding schemes like those found in “enlightened” countries such as Norway.Read more >>
The UK’s capital is set to experience a decade of jobs growth, while an increase in investment sparks hiring from tech startups.
Hiring from finance and technology companies will soar over the next decade in a post-financial crisis boom, according to new research. Meanwhile, surging venture capital investment is expected to boost hiring at British tech startups.Read more >>
Businesses see costs of cyber attacks more than double to £1.46 million on average in the past year.
Cyber security breaches in UK businesses are rising once again and the average costs incurred by a break-in continued to soar. In fact, the average starting costs of the worst single breach suffered spiked higher for all sizes of businesses and more than doubled for most, according to a government-commissioned report from PwC.Read more >>
Leading employers rate work experience as the most valuable asset in graduates, says Universum study.
Work experience is “the most popular qualification among those presented” and is valued more highly than grades achieved or the university attended by graduates. In fact, 58% of employers said work experience and sport impressed them the most, according to new research.
The survey of employers, conducted by Universum - a specialist in employer branding analytics - found that the second-most important aspect was a student’s personality (48% picked this) and only 16% looked for grades from a prestigious university. Merely 15% of respondents favoured a degree from a specific university over anything else.Read more >>
Employees in the UK’s financial services are experiencing a robust increase in career opportunities.
An increase in permanent vacancies and growing average salaries, it’s all good news for those employed in financial services in the UK, according to reports from recruitment agencies. Furthermore, we should expect to see rising staff turnover this year as the number of alternative jobs appears to be climbing.Read more >>
A new study reveals that female graduates could be earning 17% less than male counterparts. Why are women at a disadvantage in the work place?
The new data, crowdsourced from over 49,000 individuals, revealed a number of statistics illustrating the pay gap between the genders.
CEO of Emolument.com, Thomas Drewry said: “The gender gap in salaries is a real issue in the UK today, and only by having a level of transparency will we start addressing the problem.”
Read more >>
New statistics have shown that London isn’t the land of innovation we once thought it was.
The UK’s supposed reliance on London was further quashed when new research showed that innovation is spread widely throughout country. In fact, in terms of creation of new technologies, London is way down the list in 25th place, according to the Enterprise Research Centre (ERC).Read more >>
Barclays is considering replacing its corporate brokers not long after appointing John McFarlane as new chairman.
Banks are hurrying to throw together a pitch to become the broker of Barclays, after the bank announced it was putting its broking mandate under review. The group’s current corporate brokers Deutsche Bank and Credit Suisse have been invited to repitch for the position, but will face competition from Bank of America Merrill Lynch, JPMorgan, Goldman Sachs and UBS, according to CityAM.Read more >>
For the first time since the financial crisis, the economies of all the EU member states are forecast to expand this year, says a World Bank report.
Economic expansion is set for all of the European Union’s (EU’s) economies in 2015 for the first time since the financial crisis. The growth will be driven higher by a variety of factors including low oil prices, a weaker euro and the European Central Bank’s government bond buying scheme, according to a new World Bank report
Read more >>
We look at the bills that were outlined in the first fully Conservative Queen’s speech in two decades.
Marking the official state opening of the new parliamentary session, the Queen’s speech set out the incoming government’s proposed legislation for the next five years. Written by the government of the day and delivered by the monarch in tone that passes no judgement over the bills, the Queen’s speech was packed full of economy-boosting proposals.Read more >>
Lloyds Development Capital announces plans to invest £1.2 billion in UK middle-tier businesses over the next three years.
The private equity division of Lloyds Banking Group, Lloyds Development Capital (LDC), has recently detailed its plans to invest £1.2bn in medium-sized businesses in the UK over the next three years.
These plans will aim to boost growth in the British “Mittelstand” companies and the economy also, according to LDC.Read more >>
Recent research has revealed that 68 per cent of workers in the UK claim to care about energy efficiency in the work place.
The British Gas Business survey, carried out by YouGov, also found that 22 per cent of these workers said they care ‘a great deal’ about saving energy at work. Almost two thirds of those who responded confirmed that their company does make an effort to save energy.Read more >>
Nationwide Build Society posted £1 billion in profits for the year to April.
Nationwide Building Society has recorded a 54 per cent rise in annual profits, barely two years after the lender faced a £1 billion black hole in its finances.
The building society, one of the last in the UK to retain the mutual model where it is owned by customers rather than shareholders, said pre-tax profits for the year to April climbed to £1.04 billion.Read more >>
Whitbread, owners of Costa Coffee and Premier Inn, appoint Alison Brittain as CEO.
Hospitality group Whitbread has announced plans to appoint Alison Brittain as chief executive officer (CEO) in a move that will make it the sixth FTSE-100 company to have a female at the helm.
Ms Brittain is the current boss of the retail side of Lloyds Banking Group, making her one of the most powerful women in the city. But despite having no previous hospitality experience, she was quoted to be the “perfect fit” for Whitbread’s culture and values by chairman Richard Baker.Read more >>
Students from overseas contribute £2.3 billion towards the UK economy, shows new study by PwC.
Foreign students coming to study in London contribute a net £2.3 billion to the UK economy and support 70,000 jobs, according to new research from PwC and commissioned by London First.
The report, titled “London Calling: International students”, will go along way to overturn claims that overseas students are a burden upon taxpayers, especially since the figure of £2.3 billion has already taken into account the estimated £540 million costs these students have on public services, including the NHS.Read more >>
Nine out of ten SME directors would support the creation of an SME hub outside of London.
The creation of a small and medium enterprise (SME) hub would be “beneficial to the UK economy”, according to a new AXA report, and nine out of ten (89 per cent) SME directors would support it. Furthermore, 93 per cent see a demand for a non-London-based hub to “create an environment for growth for small businesses”.Read more >>
New UK business secretary Sajid Javid to cut red tape by £10 billion over next five years.
Sajid Javid, the new business secretary, will outline how the new parliament will cut red tape for businesses by at least £10 billion. It will be his first speech since replacing Vince Cable and will include details of the enterprise bill alongside plans to create two million jobs over the next five years.Read more >>
The UK restaurant sector has boomed with turnover reaching £21 billion, a 39 per cent increase in five years.
Britain’s restaurants continued to cater to the public and saw business positively boom in the years since 2010, despite the economic downturn. Turnover in the dining out industry reached £21.6 billion in 2014, an increase of 39 per cent from the £15.5 billion recorded in 2010, according to data from Companies House analysed by finance company LDF.Read more >>
Foreign direct investment in Saudi Arabia’s stock market will soon become possible.
One of the world’s most restricted stock exchanges will soon open up to foreign investors, according to Saudi Arabia’s Capital Market Authority (CMA). The move will take place on June 15th and is already attracting “absolutely phenomenal” interest, according to an expert at HSBC bank.Read more >>
Unemployment rates in the UK have fallen to 5.5 per cent, their lowest levels since 2008.
The number of people without a job in the UK declined to a seven-year low, according to official figures from the Office for National Statistics (ONS). Furthermore, the data has highlighted that wages are also growing.Read more >>
UK Chancellor George Osborne is set to outline plans for “radical devolution” of powers to English cities.
In his first major speech after the General Election, UK chancellor George Osborne promised cities in England the chance to gain devolved powers. The one caveat is that these cities must agree to be governed by a directly elected mayor.Read more >>
Economic growth in France surged past expectations to its highest rate in two years.
Figures on Wednesday showed economic growth in France accelerated in the first three months of this year. In fact, it hit France’s joint-highest figure since 2011.
The French INSEE statistical office reported that the nation’s economy grew by 0.6 per cent in the first quarter of 2015, surpassing expectations for growth of 0.4 per cent.Read more >>