Greeks fear for the future of their divided country after referendum “no” vote July 5, 2015 Tens of thousands of Greeks took to streets of Athens to celebrate last night. The resounding “no” vote given against the latest deal offered by creditors gives Prime Minister Alexis Tsipras a chance to take his hard-line approach back to the table with a democratic mandate. Yet his aggressive stance has not met with [...]
Top companies readying plans for expansion July 5, 2015 The UK’s largest companies are planning to loosen their purse strings and fund expansion plans according to a survey of top finance chiefs published today. Expanding into new markets or introducing new products and services was seen as a strong priority for the next 12 months by 41 per cent of chief financial officers (CFOs), [...]
July Budget 2015: Pressure mounts on government to back a living wage July 5, 2015 Raising the minimum wage to the so-called “living wage” would lift 6m people out of poverty and generate more than £4bn of additional revenue, according to a new report out today from KPMG. The living wage, as defined by the Living Wage Foundation charity, is £7.85 per hour nationally and £9.15 in London. The national [...]
Business in Britain: London firms’ confidence dips against UK average July 5, 2015 Lloyds Bank today released figures showing that business confidence in London has fallen slightly against the national average. The biannual Business in Britain report surveyed 1,500 UK SMEs and found companies in London expected increased orders and profits over the next six months. However, limited growth meant the overall measure of confidence fell [...]
UK recruiters’ revenues reap the benefit of strong job market July 5, 2015 Recruitment firms are seeing income soar as a result of Britain’s booming job market. Fees earned from placing workers have risen for 83 per cent of recruiters this year, according to figures released today by the Association of Professional Staffing Companies (Apsco). Stronger business activity is leading many in the recruitment industry to consider expansion, [...]
Business group: UK will lose £31bn waiting for new runway July 5, 2015 A lack of airport capacity in London could cost the UK economy up to £31bn by 2030, according to a new report out today. The Confederation of British Industry (CBI) said that over the time it will take to build a new runway, the country could lose up to £31bn in trade because of a [...]
CMA vs Ofgem: Competition watchdog to report findings from energy market review July 5, 2015 The Competition watchdog will publish the provisional findings of its energy market investigation tomorrow, in which it is expected to slam rival regulator Ofgem over a failure to promote competition in the market. The Competition and Markets Authority (CMA) began looking at the UK energy market in June last year, after a referral by [...]
Law firm mergers drop as partners focus on growth-driven takeovers July 5, 2015 Mergers between law firms decreased by 11 per cent last year, with the number of deals taking place in the UK dropping to 174 from 196 in 2013. This is 30 per cent lower below the 247 mergers seen in the industry in 2011. Finance provider LDF, which sponsored the research, said an increasing number [...]
Greek referendum – when will the results come in? Voters set to reject bailout offer July 5, 2015 Greece has entered uncharted territory after it overwhelmingly rejected austerity measures in exchange for unblocking aid in a historic referendum. It's been over six hours since the polls closed, and around 95 per cent of the votes have been counted, with 61.31 per cent voting "no" and 38.69 per cent voting "yes". This flies in the [...]
Greek referendum “no” vote: What the analysts say July 5, 2015 As Greece inches towards a historic "no" vote against austerity measures such as VAT rises and pension cuts, analysts are already reacting to the potential victory for Tsipras and co. With three hours since the polls closed, and over half of the votes have been counted, so far 61.26 per cent voted "no" and 38.74 per cent [...]