City Moves for 29 January 2016 | Who’s switching jobs January 29, 2016 Marsh Rob Powell has been appointed claims advocacy international leader at insurance broker Marsh. Based in London, Rob will report to Michael Poulos, global head of Marsh’s client advisory services. He joined Marsh in 2014 as a managing director in the international claims advocacy practice. Before joining, Rob was global chief claims officer at Torus [...]
UK confidence in housing market remains strong despite waning economic outlook January 29, 2016 CONFIDENCE in the UK housing market remains strong, despite growing concerns over the wider economy, according to new research today. The latest quarterly Halifax Housing Market Confidence Tracker showed that despite confidence declining steadily since May, the majority of people still believe that average UK property prices will be higher in 12 months’ time, with [...]
Global market turmoil fails to derail UK consumer confidence in January January 29, 2016 UK CONSUMER confidence rose in January, shrugging off the global market volatility that overshadowed the start of the year. Market research firm GfK found that its consumer confidence index increased by two points to +4 in January, while a comparable index by YouGov and the Centre for Economics and Business Research (CEBR) rose by 0.1 [...]
Chancellor George Osborne facing Budget squeeze after postponing Lloyds share sell-off January 28, 2016 George Osborne was dealt a double blow yesterday, as Britain’s economic growth slowed and the government was forced to postpone the sell-off of Lloyds, with economists warning that taxes could be raised to make up for a shortfall in the public finances. The sale of the final chunk of Lloyds shares – which was expected to [...]
Microsoft shares take off in after hours trading after tech firm unveils higher cloud sales January 28, 2016 Microsoft reported revenue of $23.8bn (£16.6bn) for the second quarter of the 2016 financial year, down from $26.5bn in the same period of last year. However, revenue in its Intelligent Cloud division was up five per cent to $6.3bn, with server products and cloud services seeing a 10 per cent increase in turnover. The firm's cloud [...]
London mayoral election 2016: Labour candidate Sadiq Khan attacks Conservative candidate Zac Goldsmith over housing policy January 28, 2016 Labour mayoral candidate Sadiq Khan was on the offensive tonight at the first official hustings event in the race for City Hall, as he attacked Conservative rival Zac Goldmsith over housing policy. Khan and Goldsmith participated in a public debate organised by the London Chambers of Commerce and Industry (LCCI) at the London School of Economics. The debate also [...]
Highest paid partner at magic circle law firm Freshfields Bruckhaus Deringer pockets rising pay, although salaries among staff cut compared to year before January 28, 2016 A magic circle law firm has been splashing the cash on its highest paid partner, although the total amount spent on salaries for staff has been slashed. According to accounts filed at Companies House yesterday for Freshfields Bruckhaus Deringer LLP, the total profit and remuneration allocated to its highest paid partner, which included payments made [...]
Academic paper says “flash crash” trader Navinder Singh Sarao not the cause of 2010’s sudden market drop January 28, 2016 A research paper published online earlier this week by three US-based academics claims that May 2010's "flash crash" had little or nothing to do with the actions of a British trader accused of contributing to the sudden market drop. The study, which is entitled The Flash Crash: A New Deconstruction, concludes that it is "highly unlikely" the crash [...]
Warren Buffett will be a Celebrity Apprentice adviser along with Steve Ballmer, Jessica Alba, Tyra Banks and Donald Trump’s replacement as host, Arnold Schwarzenegger January 28, 2016 Warren Buffett will be an adviser on the new series of the celebrity version of The Apprentice, and will be joined by some similarly big name stars, though none quite so prolific. The so-called Sage of Omaha and Berkshire Hathaway boss will be joined by former Microsoft boss Steve Ballmer, startup entrepreneur and actress Jessica Alba, and [...]
Don’t underestimate Europe’s tech entrepreneurs: they’re more ambitious than you think January 28, 2016 There’s a common complaint that European entrepreneurs don’t have the same level of ambition and ability as their counterparts in the US. I disagree and have always felt Europe is being underestimated. Unlike the US, where the entrepreneurship game is mature, Europe is in the early stages of its journey, with most venture capital and [...]