Online insurer Esure confirms intention to pursue demerger of Gocompare.com September 13, 2016 Insurance firm Esure has confirmed its proposal to spin off Gocompare.com and list it separately on the London Stock Exchange – just 18 months after buying the price comparison website. Esure made the decision to pursue the demerger after a strategic review, and the appointment of Matthew Crummack as Gocompare's chief executive. Shares in the company [...]
Raft of positive data from China lifts Asian markets September 13, 2016 Markets in Asia have been reacting to a raft of positive data from China, as both retail and industrial figures beat economists' expectations. In August, industrial production was up 6.3 per cent year-on-year, according to China's National Bureau of Statistics. This was up from six per cent growth in July – and it just beat [...]
City Moves for 13 September 2016 | Who’s switching jobs September 13, 2016 Terence O’Rourke Matt Nicholson has left his role as director of planning at CBRE UK to join specialist planning and design consultancy Terence O’Rourke as special projects director and run the company’s London office. Matt has 16 years’ experience in public and private roles within the planning industry, having also held senior planning roles at Sainsbury’s [...]
As the monetary policies of the US, the UK and the Eurozone diverge, what should investors make of this fork in the road? September 13, 2016 Since the end of last week, speculation has been mounting that the US Federal Reserve will raise interest rates again this year. The probability of a September rate raise looks slimmer after the Fed’s most dovish official, Lael Brainard, struck a cautionary tone in a speech yesterday. But there is a strong chance that the next [...]
A toast to Edinburgh’s ‘Flat White Economy’ as tech firms are lured north September 13, 2016 | City Talk The burgeoning ‘Flat White Economy’ is likely to play a vital role in the future of the post-Brexit UK economy. Now the second largest business sector in the UK, it accounts for 8.7 per cent of GDP. The term, originally penned to capture the explosion of digital businesses in London’s EC1V postal district, is spreading [...]
House prices grow at slower pace in August September 13, 2016 Talk of a house price bubble bursting came to naught in August as house prices continued to grow – although the rate slowed. Average house prices now stand at £292,921 meaning the average homeowner is sitting on £12,101 more equity than this time last year according to Your Move and Reeds Rains’ monthly house price [...]
Labour leader Jeremy Corbyn could see his constituency scrapped under new boundary proposals September 13, 2016 Labour leader Jeremy Corbyn is facing another blow as he enters his second year as Labour leader, with the Boundary Commission revealed plans to scrap his constituency, even as polls show a yawning divide between his party and the government. Figures from pollster ICM yesterday showed his party trailing the Conservatives by 13 points at [...]
Last ever British EU commissioner pledges allegiance to Brussels September 12, 2016 The man set to become the UK's last ever European commissioner has pledged to work solely for Europe's best interests in a "marathon" hearing before members of the European Parliament. Julian King, currently the UK's ambassador to France, was announced as successor to Lord Jonathan Hill, who resigned straight after the EU referendum, having been in [...]
As Cameron steps down, Osborne plots a way to protect his own political legacy September 12, 2016 Former chancellor George Osborne is close to launching a new think tank to keep alive one of his flagship policies, City A.M. can exclusively reveal. Osborne is said to be in the final stages of establishing a project focused on his Northern Powerhouse agenda, a central tenet of his economic and political thinking, designed to boost [...]
Hammond highlights growing importance of non-EU trade September 12, 2016 Discussions between chancellor Philip Hammond and some of the UK’s biggest exporters focused yesterday on the growing importance of trade with non-EU countries. Hammond hosted representatives from Honda, GlaxoSmithKline, Airbus, and Scotch Whisky Association at Downing Street. UK exports have more than doubled over the last 17 years, with over half of total, making up [...]