Winners announced of Indigo Economics Prize to radically shake-up GDP | City A.M. October 25, 2017 The winners of a new economics prize calling on entrants for how best to measure economic activity have been announced today. The Indigo Prize was awarded in a joint split, with £125,000 to be shared between Diane Coyle, the professor of economics at Manchester University, and Jonathan Haskel, of Imperial Business School. Coyle’s entry, co-written [...]
Sexism in the City: Jayne-Anne Gadhia tells MPs of “pervading sexism” in the Square Mile October 24, 2017 A former environment of “pervading sexism” in the City created an “alpha male” environment in which harassment was common, according to Virgin Money chief executive Jayne-Anne Gadhia. Speaking today to MPs on the Treasury Select Committee, Gadhia said she had come across multiple incidents during her career in the Square Mile when sexism had reared [...]
Premier League abandons talks over plans to give top clubs larger slice of revenue October 24, 2017 Proposals to give a greater share of Premier League revenue to the biggest clubs appear dead in the water after the latest round of talks over the controversial plans was called off. Six clubs – Manchester United, Chelsea, Manchester City, Arsenal, Liverpool and Tottenham – are believed to want a larger proportion of income generated [...]
Ranked: The world’s best performing chief executives of 2017 as Inditex’s Pablo Isla and WPP’s Martin Sorrell take the top spots | City A.M. October 24, 2017 The boss of Zara’s parent firm Inditex, Pablo Isla, has been named the best-performing chief executive in the world for 2017, by the Harvard Business Review. The Spanish businessman, who ranked third last year, took the top spot for the first time, over WPP’s Sir Martin Sorrell. Since becoming chief executive in 2005, Isla has [...]
Barclays offers free housing to help with “shocking cost” of landing first job out of university October 24, 2017 Barclays will offer graduate job interviewees free accommodation in London, Birmingham and Manchester to help offset the “shocking cost” of landing a post-university position. Job hunters with interviews during November will be able to apply for two free nights’ accommodation. The banking giant said UK graduates spend an average of over £500 landing their first [...]
International Personal Finance boosted by branding itself as Provident Financial in Poland October 24, 2017 British-based overseas doorstep lender International Personal Finance today received a boost from selling its services under the Provident Financial banner. The Leeds-based firm said it had increased its lending to customers by five per cent in the third quarter. Listed in London, International Personal Finance operates across seven east European countries and Mexico. Polish operations, [...]
Investec and Banco Sabadell are backing hot UK fintech startup Bud with £1.5m October 24, 2017 Investec and Banco Sabadell, the owner of TSB, are backing a UK fintech startup which is creating platforms to help people manage their finances. Bud has raised £1.5m from investors, led by the FTSE 250 asset manager and InnoCells, the Spanish Bank’s digital venture arm. Also participating in the early stage round is Force Over [...]
Cornerstone backer Calculus Capital is raising £10m for its venture capital trust (VCT) as investor interest booms October 24, 2017 Calculus Capital, the investment firm which backs shaving subscription business Cornerstone, has launched a £10m fundraising for its venture capital trust (VCT). The VCT, which launched in 2010, aims to deliver an annual dividend of 4.5 per cent – or 6.1 per cent for investors who receive the 30 per cent income tax relief after [...]
New forecasts show need for Heathrow expansion ‘greater than originally thought’ with London’s main airports to be full in a decade October 24, 2017 The government said today the need to expand Heathrow is “greater than originally thought” and its timeline remains on track, despite the launch of a new consultation. Transport secretary Chris Grayling said updated aviation demand forecasts reveal that the need for more runway capacity is “even greater than originally thought”. He said: They show that [...]
Hammond shuts down Javid’s plan to borrow billions at record low rates October 24, 2017 Philip Hammond has slapped down communities secretary Sajid Javid’s proposal to borrow billions of pounds at current interest rates to build homes. Speaking at the weekend, Javid made the case to “sensibly borrow more… take advantage of some of the record low interest rates” for housing, as well as other infrastructure needs such as the [...]