Could Crossrail be creating skills shortages in parts of Britain? Recruiter Randstad thinks so October 16, 2015 Crossrail could be to blame for skills shortages in certain parts of Britain, according to a new report out today from Randstad CPE, the specialist recruiter. Randstad says that more than a quarter of Crossrail’s workforce is drawn from regions more than 30 miles away from the project, with one in 20 moving more than [...]
European firms are too reliant on big banks, according to EY and TheCityUK October 16, 2015 Europe's financial stability could be at risk due to a lack of understanding about alternative forms of finance, a new report out today from EY and TheCityUK has warned. The report argues that the scarcity of information on alternative finance not only could this hinder firms’ future growth potential, but also leave businesses exposed in [...]
Government to hold crisis summit on UK’s troubled steel industry following SSI Redcar closure October 16, 2015 Government ministers are holding a crisis summit on the UK's troubled steel industry today, in the wake of high-profile mill closures that have led to thousands of job losses. Ministers, along with steel companies, unions and trade bodies, are meeting in Rotherham to discuss how the industry can counter overcapacity, cheap imports from China and the [...]
Women are less likely to receive bonuses than men, Glassdoor survey reveals October 16, 2015 Women are less likely to receive bonuses than men, according to damning new findings from employment firm Glassdoor. Under a third of women employees (29 per cent) receive any kind of bonus, as opposed to 44 per cent of men, according to the Glassdoor UK Employment Confidence Survey. In addition, 37 per cent of women [...]
How Winterflood’s founder went from Freemason to gangster October 15, 2015 Winterflood Securities founder Brian Winterflood has had one hell of a year. The brokerage’s top dog is well-known in the City for his love of unusual and dangerous holidays, but last year’s trip to the North Pole with wife Doreen left more than a lasting impression on the couple. “It was on my bucket list,” the [...]
US deficit narrows to smallest level since 2007 October 15, 2015 The United States budget deficit has fallen to 2.5 per cent of gross domestic product, narrowing to its smallest level since 2007. The government's deficit, which is a measure of how much the government has spent against what it raised in taxes, shrunk to $439bn (£283.6bn) in the 12 months to the end of September, from [...]
EU referendum: A Brexit vote could spark a Scottish independence rerun, warns Nicola Sturgeon October 15, 2015 Scottish First Minister Nicola Sturgeon yesterday warned Prime Minister David Cameron that a Brexit could spark another independence referendum north of the border. Speaking at the SNP conference in Aberdeen, Sturgeon said taking Scotland out of the EU will result in a surge of demand for yet another in/out vote. “If you try to take [...]
City Moves for 16 October 2015 | Who’s switching jobs October 15, 2015 PEMBERTON The asset manager has appointed Corinna Mitchell as general counsel. She has over 20 years’ experience as a banking and finance lawyer, and was a partner in the London office of Dechert for the past seven years. Mitchell has also worked as a partner at Baker & McKenzie in London, and as a solicitor [...]
Wall St climbs to eight-week high on results – New York Report October 15, 2015 SHARP gains in biotechnology shares and a rebound in financials following upbeat results from Citigroup pulled US stocks up yesterday after two days of losses. The Dow Jones industrial average rose 217 points, or 1.28 per cent, to 17,141.75, the S&P 500 gained 29.62 points, or 1.49 per cent, to 2,023.86 and the Nasdaq Composite [...]
Is the tech industry pushing up property prices in London? October 15, 2015 Residents in San Francisco have fallen out of love with the tech sector. They blame its success for driving up house prices and rents. Tensions are rising amid claims of a gentrification led by tech workers. Yet right now, London is in love with tech. Google has committed to King’s Cross, while around Silicon Roundabout [...]