A stroke of genius: How to get a loan by securing against art November 30, 2017 The world was stunned earlier this month when a 500-year-old Leonardo da Vinci painting smashed the world record by fetching $450m at auction. This figure might sound absurd, but understanding the multitude of factors that determine the value of art will remain a mystery to many of us. “Art is very personal,” says Freya [...]
Avoiding the financial perils of divorce November 29, 2017 If your marriage has broken down, the emotional strain can take its toll. But splitting your finances can make the divorce process a lot tougher. Last year, the number of divorces among opposite sex couples increased by 5.8 per cent compared to 2015, according to figures from the Office for National Statistics. But worryingly, [...]
A US recession is imminent, and Germany may suffer the most November 29, 2017 | City Talk “We have to wait for Germany to make its move,” George Friedman declared at the 2017 CFA Institute European Investment Conference. Friedman, the founder and chair of Geopolitical Futures, has a history of being right when others are wrong and being predictive when others are reactive. He has spent his career navigating the convergence [...]
London’s house price to salary ratio has hit a record high November 28, 2017 The house price to salary ratio has hit a record high in London, piling even more pressure on the capital's strained property market. The average house price in London reached £496,000 in October, and average earnings were £34,200, representing house price ratio of 14.5 times Londoners' salaries. The ratios were also steep in Cambridge and [...]
UK’s second listed law firm Gordon Dadds doubles profit in first results since IPO November 28, 2017 Gordon Dadds, which became the second law firm to list on London’s public markets in August, has more than doubled its profit in the last year as it revealed its first results since the stock market float. The Aim-listed firm saw its revenue increase by 14.5 per cent to £12.89m, as adjusted profit before tax [...]
Staying afloat: What the string of shelved IPOs means for investors November 28, 2017 It takes a brave business leader to list their company on a public stock exchange, and while the success of an IPO is largely based on the firm’s underlying fundamentals, it’s also a delicate act of timing. This month, we’ve seen a string of British companies shelve their plans to float, including the likes of [...]
Bank spending on consultants jumps as fintech challenge and regulation keep lenders on their toes November 27, 2017 Banks across the world upped their spending on consultants by 8.4 per cent last year as they tried to navigate changing regulation and fight off the challenge from more nimble, newer competitors. Globally banks spent $13.6bn (£10.2bn) on consultants, a rise from the $12.5bn spent during the year before, according to data from Source Global [...]
Transport for London blames Brexit uncertainty for surprise fall in passenger numbers November 27, 2017 Transport for London (TfL) has blamed an unexpected fall in passenger numbers on Brexit uncertainty and "economic factors affecting the whole of the UK". The transport body said in its draft business plan for 2018/19 to 2022/23: We have seen lower growth in demand for our services than previously forecast for this year, largely owing [...]
What is social selling and how can you use it to build your client relationships? November 27, 2017 | City Talk “I don’t connect with clients on social media.” That’s the response many investment advisers give when I ask what they're doing around social. It can feel uncomfortable to risk messing up and getting it wrong, and finance is an industry where compliance rules abound. Yet my advice is to focus on what can go right [...]
Pharmaceutical giant Merck picks London for new HQ November 27, 2017 Pharmaceutical giant Merck has chosen central London as the site of its new headquarters. The company’s hub will be home to 150 new researchers, and 800 additional staff. Merck’s other European clinical operations will also move to the site from the company’s current headquarters in Hoddesdon, Hertfordshire. The American pharmaceutical business has started to look [...]