Why stamp duty reforms are turning prime London into the world’s most exclusive rental market January 18, 2016 What's the point of paying astronomical levels of stamp duty when you could just rent an ultra-exclusive home? A new report has suggested billionaires may simply rent prime properties, rather than buying them – and potentially save millions of pounds. The figures, by Tunstall Property, suggest that for most buyers of ultra-expensive homes, following reforms to the stamp [...]
Pupillage gateway dates shifted from January 2017 onwards so trainee barristers know application outcome before paying fees for Bar Professional Training Course January 18, 2016 The Bar Council has today announced that it will be changing the pupillage gateway dates from January 2017 onwards, running the process from January until April. The pupillage gateway is used by barristers' chambers to advertise available positions and recruit pupils, and currently runs from the end of April through to August. The move, which many [...]
Brent and WTI crude prices: HSBC chief executive Stuart Gulliver predicts oil will settle between $25 and $40 in a year’s time January 18, 2016 HSBC chief executive Stuart Gulliver expects oil to settle between $25 and $40 in on year's time, he said today. Responding to a question about where the prices will be this time next year at the annual Asia Financial Forum in Hong Kong, Gulliver said: "Major producers are currently delivering 2m-2.5m barrels per day more than demand, so [...]
2016 already looking positive for financial services jobs as top consultants net salaries of £97,000 January 18, 2016 The new year may have only just begun but there are already signs of 2016 being a strong year for financial sector jobs. According to findings released today by recruiter Morgan McKinley, many employers have already kicked off their 2016 hiring. “Despite a rude awakening to the start of the year from financial markets, we’ve actually [...]
Oil edges closer to $28 as Brent and WTI crude both drop thanks to end of Iran sanctions January 18, 2016 Oil investors were showing their nerves today, with the price of both Brent crude and WTI crude edging closer to $28, as sanctions against Iran were lifted, potentially adding millions of barrels of oil to an already oversupplied market. Brent, the global benchmark, dropped to $28.17 in early trading, while the US-focused WTI fell to $28.71. The [...]
UK house prices: Property price growth will slow over next three years, EY Item Club predicts January 18, 2016 House price growth will slow over the next three years, according to new forecasts, as continued growth puts owning a property out of reach for many. Property prices are expected to rise by 6.5 per cent this year, new analysis by EY Item Club predicts. That growth will continue in 2017 and 2018, but at a more [...]
Profits looking strong for the financial services industry but outlook remains weak January 18, 2016 Financial services firms reported strong profitability for the last quarter of 2015, although the sector is slightly cautious in its outlook. A survey of 100 financial services firms out today from the Confederation of British Industry (CBI) and professional services firm PwC has discovered that financial services firms are reporting strong profitability for the three [...]
Overseas regulators increasingly asking the Financial Conduct Authority for assistance, hiking up the compliance burden for UK businesses January 18, 2016 The number of requests for assistance from foreign enforcement agencies received by the Financial Conduct Authority (FCA) has risen over the last year. According to figures released today from City law firm RPC, the FCA received 1,073 such requests in the year to 30 September 2015, up four per cent compared to the year before, [...]
London small business confidence booming but UK north-south divide becomes apparent January 18, 2016 London’s small businesses are in a buoyant mood and are expecting a strong start to 2016, new survey figures published today reveal. In the fourth quarter of 2015, the Federation of Small Businesses’ (FSB) gauge of confidence – compiled from a survey of 144 London firms – climbed to a score of 25 points from [...]
Oil price rout and Iran sanctions lifting send Middle East markets lower January 17, 2016 Middle East markets have fallen after the lifting of Iranian sanctions and the country's promise to resume crude oil exports. It stokes worries of the market's over supply which has already sent oil prices below $30. The Saudi Tadawul All Share Index fell 5.4 per cent to its lowest since March 2011. The Qatar Exchange, the second largest in the Gulf after [...]