West End poised for £2.5bn boost from Crossrail October 5, 2015 THE ARRIVAL of Crossrail is set to bring a £2.45bn boost to the West End by 2020 as thousands more visitors pour into central London, new research shows. The New West End Company (NWEC), which represents 600 businesses, said annual turnover for its retailers is predicted to hit £11.25bn just two years after completion of [...]
British entrepreneurs and new business owners raring to grow in 2016 October 5, 2015 British entrepreneurs have shaken off a turbulent year and are steaming ahead with growth plans, as a new study shows 90 per cent are optimistic for the future. A survey by EY out today, reveals 90 per cent of UK entrepreneurs think their business’ profits will increase over the next 12 months, and 53 per [...]
Five pence levy on plastic bags starts today aiming to reduce usage by 80pc October 5, 2015 It is time to dig out those “For Life” bags – from today you will be charged 5p for plastic bags in shops. Any shop or chain with more than 250 employees using thin “single use” plastic bags will have to charge, including home deliveries. The government hopes the measure will lead to an 80 [...]
VC fund targets £83m space sector shake-up October 5, 2015 A VENTURE capital fund that aims to nurture start-ups disrupting the UK space industry will kick off a roadshow this week to close an £83m fundraising. Seraphim Capital’s Space Venture Fund wants to speed up the commercialisation of space by investing in small to medium-sized businesses developing cheaper and more accessible technologies. It will also [...]
TheCityUK calls on government to help firms boost export activity October 5, 2015 The UK government should do more to help SMEs ramp up their exports, according to new research from TheCityUK. In a report released today, the group says “helping SMEs fulfil their export potential could boost economic output and help solve the UK’s productivity puzzle”. The group is calling for a “well-constructed one-stop-shop gov.uk website that [...]
Think tank says childcare plan has £1bn hole October 5, 2015 The government’s plan to double the amount of free childcare available has been underfunded by around £1bn, a think tank will argue today. A report by the Institute for Public Policy Research (IPPR) says that increasing the amount of free childcare for three and four-year-olds to 30 hours a week would cost £1.6bn a year, [...]
UK interest rates to stay at record low but another hawk could appear October 5, 2015 The UK’s rate-setters are widely expected to hold fire on interest rates when they meet this Thursday, but the door is open for at least one more member of the nine-strong committee to dissent than last time around. Last month saw the Bank of England’s monetary policy committee vote eight to one to hold [...]
London Cocktail Week 2015 hits Spitalfields Market October 4, 2015 Gin and tonic season may be well and truly finished, but have no fear; London Cocktail Week is back for its sixth year to keep Square Mile slickers inebriated this autumn. From 5-11 October, Old Spitalfields Market, usually home to antique dealers, speciality stalls and Liverpool Street’s lunching lawyers and bankers, will become a huge [...]
City Moves for 05 October 2015 | Who’s switching jobs October 4, 2015 EY The professional services firm has appointed Omar Ali as its new UK financial services leader. He replaces Chris Price, who will lead EY’s global people advisory services. Ali was previously UK banking and capital markets leader. He joined EY in 2001, becoming a partner at the age of 29 in 2006. He began his [...]
Best of the Brokers for 05 October 2015 October 4, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com The transport company is likely to see its earnings stagnate this year before growing next year, analysts at Panmure Gordon said. They maintained their “hold” rating and target price of 120p. FirstGroup’s debt levels also remain stubbornly high. UK bus operations made progress [...]