Grant Thornton boasts its fifth strong year but CEO Scott Barnes isn’t bragging October 5, 2014 Grant Thornton’s chief executive Scott Barnes is not a man given to extravagant outbursts. Today, the financial adviser’s yearly report boasts of “a fifth successive year of strong results”, with revenue breaking through the £500m mark it had targeted for next year. As Barnes took over as boss six years ago, that consecutive [...]
City vacancies up by half on strong recovery October 5, 2014 BOOMING markets and a surge in stock market flotations have led to a huge jump in hiring in financial services, recruiters Astbury Marsden said today. The firm found 3,470 new City jobs were created in September, up 34 per cent on the 2,580 new vacancies in August, and up 46 per cent on the 2,380 [...]
UK exposed to greater Ebola risk unless flights to west Africa cut October 5, 2014 THE RISK of Ebola being imported into the UK before the end of October is as high as 50 per cent, scientists have predicted. Heathrow’s status as one of the world’s biggest travel hubs puts the UK at great risk of a traveller entering the country unknowingly carrying the virus. But scientists have calculated that [...]
US deploys attack helicopters as fight intensifies against jihadis October 5, 2014 THE US has begun using Apache AH-64 attack helicopters to strike at jihadi targets in Iraq, the first time they have been used in this operation. A defence official confirmed yesterday that Apache helicopters were used this weekend as part of four airstrikes on a large jihadi force northeast of Fallujah. The attack was conducted [...]
Strong growth may prompt an early rate hike October 5, 2014 MORE policymakers should consider voting for a rate hike at the Bank of England this Thursday, former interest rate setters told City A.M. July saw a break in unanimity at the Monetary Policy Committee (MPC), with two out of the nine policy makers voting for a rise of 0.25 per cent from its current level [...]
Finance firms see return to boom in 2014 October 5, 2014 FINANCE companies are enjoying their strongest expansion since 2007, with firms reporting rising business volumes, increased profitability and greater employment, according to survey results released today. The survey of 109 firms, conducted by Price Waterhouse Coopers and the Confederation of British Industry, shows that 60 per cent of firms surveyed saw an increase in business [...]
Bank of England set to push banks to increase buffers again despite fears it will hit lending October 5, 2014 BANKS are braced for another hike in capital requirements – or another squeeze on lending – as the Bank of England prepares to hike the leverage ratio, under proposals expected to be unveiled this month. The key ratio limits the amount of loans banks can offer, relative to the bank’s capital buffer. Under global Basel [...]
More small firms complain their loan applications are rejected October 5, 2014 INCREASING numbers of small businesses are complaining to the ombudsman that their loan and overdraft applications are being turned down by banks, according to a study by commercial finance group LDF. A total of 816 small firms complained to the Financial Ombudsman Service (FOS) in 2013, up by one-third on the 612 in 2012. And [...]
FTSE 100 giants increase cash pile to £53.5bn October 5, 2014 THE BIGGEST British businesses added another £15.6bn to their cash piles in the last 12 months, Capita Asset Services said today. It brings net cash positions to £53.5bn, and their gross cash position to £138bn. Although the figure indicates the FTSE 100 businesses are raking in profits, it also underlines a lack of investment opportunities [...]
Plymouth pairs with Ovo in new energy launch October 5, 2014 THE FIRST joint venture between Ovo Energy and a local council was announced at the Liberal Democrat party conference in Glasgow yesterday, where it was revealed that Plymouth City Council had partnered with Ovo to form Plymouth Energy Community. The company was formed as part of Ovo’s scheme aimed at turning groups such as local [...]