Two-thirds of London SMEs have their sights set on new markets, compared to just over half across the UK as a whole November 25, 2015 Two-thirds (66 per cent) of London small and medium enterprises (SMEs) plan to venture into new markets in the next two years. In a survey of over 1,000 British SMEs released today by Albion Ventures, more than half (58 per cent) of SMEs across the UK as a whole also said they planned to step [...]
Autumn Statement 2015 UK: Here’s how much each London borough makes from business rates November 25, 2015 The much-maligned business rates system could be in for a shakeup during today's Autumn Statement, after retailers held talks with the Treasury to demand urgent reforms to the regime. While some have suggested a major shakeup, including a revaluation of properties to ease pressure on retailers paying rates on properties last valued at the height [...]
UK house prices: Mortgage lending up 26 per cent in October as lending recovery gains momentum – the British Bankers’ Association November 25, 2015 Mortgage borrowing was a giant 26 per cent higher in October than in the same month last year, according to figures released by the British Bankers Association. The amount loaned out reached £12.9bn, with the number of mortgages approved by lenders up 27 per cent on last year. Approvals for house purchase were up 21 per [...]
Autumn Statement 2015: Here’s where departmental budgets were cut last year November 25, 2015 Chancellor George Osborne will show the full force of his axe today, with up to 40 per cent in cuts for a number of departments expected, all in the name of reducing the deficit by £20bn. With over half of public spending now ring-fenced from cuts, however, Osborne has had to engage in tough bargains with [...]
United Utilities miss expectations as profits fall to £205m November 25, 2015 The UK's largest water company, United Utilities, reported disappointing half year results today, for the six months to the end of September. Its share price was down 0.5 per cent this morning, to 953.25p, having shot up initially to 963p. The figures Revenues slipped to £857m from £859.4m this time last year. Pre-tax profits fell to [...]
European banks will start using roboadvisers next year, says Morgan Stanley November 25, 2015 Roboadvisers are on the verge of making a huge entrance into Europe's banking sector, according to Morgan Stanley. In an outlook report by its EMEA analysts, the company said it expects high-street banks across the continent to start adopting the robotic finance experts as soon as next year, as they face intense pressures to cut [...]
Seven out of ten London businesses are in favour of National Living Wage, compared to six out of ten overall November 25, 2015 Seven out of ten (71 per cent) businesses in London are in favour of the National Living Wage, according to figures shown exclusively to City A.M. by Group Risk Development (GRiD). By comparison, in a survey released earlier by the GRiD, only 62 per cent of businesses across the UK as a whole were fond [...]
Autumn Statement 2015: Play George Osborne’s interactive buzzword bingo game November 25, 2015 George Osborne is preparing for a "knock at the door" fiscal update in the space of just a year (that's number four) , and that means we get to play another round of buzzword bingo. The chancellor is really spoiling us. Be prepared for the "long-term economic plan" – again – but will he make a dig at [...]
EU referendum: UK property and construction sector does not want Brexit, with only 15 per cent saying it would have positive impact November 25, 2015 The UK’s property bigwigs overwhelmingly support staying in the EU, according to figures released exclusively today to City A.M. by professional services firm Smith & Williamson. In a survey of 200 property and construction senior executives, just 15 per cent said that leaving the EU would have a positive impact on the industry. “The industry [...]
Apple buys Star Wars motion capture startup Faceshift November 25, 2015 Apple has acquired a company which specialises in motion capture and facial recognition technology and which worked on the upcoming Star Wars: The Force Awakens film, further fueling speculation that it's making a move into virtual reality. Apple confirmed the previously rumoured purchase to TechCrunch, saying: “Apple buys smaller technology companies from time to time, and we generally do not discuss [...]