Banks’ London office footprint shrinks after heavy job losses March 17, 2015 Banks’ share of office space in London has shrunk by 13 per cent over the past decade as the industry struggles with heavy job losses in the wake of the financial crisis. A study by accountants Deloitte shows that the financial sector remains the biggest occupier in central London despite upheaval in the industry since [...]
Mortgage loan slowdown may be at an end as house prices predicted to rise March 17, 2015 Mortgage lending dropped again in January, industry data showed yesterday, as the market continued to plateau. But economists think this weak spell could be at an end, with lending set to pick up across the rest of 2015. The month saw 22,400 home movers take out mortgages, according to the Council of Mortgage Lenders (CML), down [...]
UK rents rise in February but fewer tenants fall behind on payments March 17, 2015 The number of rents in arrears decreased in February despite a hike in rents, according to new figures out yesterday, in a sign that households are slightly better off. The monthly lettings index by estate agents Countrywide showed that average rent in the UK for newly let properties rose by 1.7 per cent to £876pcm [...]
BDO: What we expect and hope for in today’s Budget March 17, 2015 Our tax policy over the past decade has largely ignored the UK’s mid-market businesses despite this section of the economy being a significant source of tax revenues and widely regarded as the engine room for future economic growth. This fact needs to be acknowledged, with more targeted reliefs and incentives aimed at stimulating this fundamental [...]
Budget 2015 vs Budget 2010: What are the vote-winners? March 17, 2015 It’s almost budget day in election year, the time for the Conservatives to dangle a few carrots and warn of a few essential sticks to come. But how different it this year’s budget to the Labour party’s swansong back in 2010? There are a few key differences and some glaring similarities. Tax evasion Osborne’s last [...]
Budget 2015 is all about that tax: Prepare for Osborne to say it every 31 seconds while wearing a blue tie, bookies predict March 17, 2015 It’s all about the tax in the upcoming budget. Chancellor George Osborne is expected to utter the word 108 times in his speech which is expected to last 56 minutes – or once every 31 seconds. That’s the predictions of spread betting firm Sporting Index when the chancellor takes the stage in the Commons for [...]
FCA takes first public action against Rabobank trader Paul Robson for manipulating Libor submissions March 17, 2015 The Financial Conduct Authority (FCA) has banned ex-Rabobank trader Paul Robson from the financial services industry for "lacking honesty and integrity". Last year, Robson pleaded guilty to being involved in the conspiracy to manipulate his company's Yen Libor submissions. The ruling marks the first time the FCA has taken public action against a trader for [...]
Apprentices to get 20 per cent pay rise but George Osborne misses minimum wage goal March 16, 2015 Apprentices will get a 20 per cent pay rise this October, after business secretary Vince Cable won his battle to overrule the Low Pay Commission’s (LPC) recommendation of a 2.6 per cent rise in the minimum wage. By contrast, chancellor George Osborne has failed to meet his aspiration to hike the headline minimum wage to [...]
Dax hits record as it strides past 12,000 barrier March 16, 2015 German stock market benchmark – the Dax – hit a record high yesterday in a strong day for Eurozone markets. The index of 30 major German companies closed at 12,167.72 – a 2.24 per cent gain. The European Central Bank (ECB) had purchased €9.571bn (£6.841bn) of debt in the first three days of its public [...]
City skills shortage: Almost two vacancies for each jobseeker March 16, 2015 Finance firms’ growth is being held back by a lack of workers, recruiter Robert Walters warned today. It has 10,560 vacancies on its books, but just 6,090 jobseekers to fill it. The burgeoning economic recovery has encouraged workers to look at moving jobs – Robert Walters has seen a 48 per cent rise in potential movers [...]