Recruiters are more likely to be hit hard by late payments and wait more than twice as long to be paid October 26, 2015 Recruitment firms are waiting more than twice as long as the average British company to be paid by their clients, according to a new report out today from the commercial law firm EMW. According to EMW, recruiters have to wait 56 days, on average, to be paid for their services, compared to the average UK [...]
Tax credit changes: Chancellor George Osborne braces for House of Lords row October 26, 2015 Chancellor George Osborne’s plans to cut tax credits are expected to face their fiercest opposition yet today as peers consider killing the reforms. The House of Lords is set to debate and vote on three amendments to the proposed cuts to in-work benefits, including a “fatal motion” which would stop the legislation from going into effect. [...]
Free market think tank the Adam Smith Institute calls for controversial welfare overhaul October 26, 2015 The government should replace all major welfare payments with “negative income tax”, an eyebrow-raising report from free market campaign group the Adam Smith Institute (ASI) has suggested. The call to ditch tax credits, jobseeker’s allowance, and the universal credit system for a new system comes as the government has taken fire for changes to tax [...]
Professional and financial recruiting up eight per cent in 2015 as salaries jump too – APSCo October 26, 2015 Good news for job hunters: professional and financial recruiting is up eight per cent this year, with average salaries increasing by 4.6 per cent since 2014. The number of finance and accounting roles has risen 17 per cent from last year, according to data from the Association of Professional Staffing Companies (APSCo). This is in [...]
TalkTalk cyber attack: Chief exec Dido Harding comes out fighting over data hacking crisis October 26, 2015 TalkTalk chief exec Dido Harding showed no sign of bowing to calls for her resignation last night, insisting that the company could emerge stronger from a hacking crisis that has seen more than a billion items of customer data stolen from its website. Baroness Harding, who became a Conservative peer last year, said that Labour politicians [...]
City Moves for 26 October 2015 | Who’s switching jobs October 25, 2015 KPMG Catherine Grum has been appointed head of the professional services firm’s family office. She joins from Salamanca Group, where she was head of the private office. Grum has also previously worked as head of wealth advisory, for Europe, the Middle East and Africa, at Barclays Wealth & Investment Management, and for the private client [...]
Executives rank M&A last despite record activity October 25, 2015 DRIVING organic growth, not mergers and acquisitions (M&A), should be a top priority for businesses according to a poll of senior executives released today, despite a record-smashing year of deals across the globe. The survey carried out by Interim Partners found that over half (52 per cent) of executives thought that pursuing organic growth should [...]
Best of the Brokers for 26 October 2015 October 25, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com Analysts at Numis have reiterated a “hold” rating for Home Retail Group, despite interim results coming in ahead of expectations. Continuing difficulties at Argos, where profit is significantly skewed to the second half, has held the group back. Analysts said the earnings outlook [...]
Banks come to fore as sector to report results – London Report October 25, 2015 BANKING results season is upon us, with three of the big four reporting this week. And on the economic front, third-quarter GDP figures are expected to show that the economy is slowing down due to weaker construction and manufacturing output. Corporates Royal Dutch Shell and BG Group also report in with updates, as does sector [...]
Fed minutes and Apple’s figures in focus – New York Report October 25, 2015 Another busy week beckons,with the Federal Reserve holding a policy meeting, a plethora of big-name companies posting quarterly financial results, and a number of key economic reports are released. Investors will be paying close attention as the Federal Open Market Committee reveals its latest policy statement on Wednesday. Wall Street does not view it as [...]