Iran is open for business with a post-Brexit UK November 14, 2016 Iran is officially open for business after four years in the global wilderness. Following the imposition of financial sanctions in 2012 by the US for its burgeoning nuclear weapons programme, it was almost impossible for the west to do any business with Iran. Those sanctions were lifted earlier this year after France, Germany, UK, Russia and [...]
Interserve contract will deliver “double-digit cost savings” across government departments November 14, 2016 Civil servants promised big savings to taxpayers after agreeing a contract with Interserve to consolidate operations across six government departments. The FTSE 250 group today announced a deal with the departments that will be worth £40m over five years, which "hopes to achieve annual double-digit cost savings". Read more: Interserve wins place on £4bn construction framework John Manzoni, [...]
Large numbers of Britain’s care homes expect to go bust in the next three years November 14, 2016 Banks who have lent to care homes could fail to recoup their debts as large numbers are expected to go bust over the next three years. The double-whammy of local government budget cuts and the introduction of the national living wage has put the care home sector under significant pressure in recent years. Read more: Number of [...]
Thomas Cook invests in more own-brand hotels across Europe as it seeks to shake off Turkey tourism decline November 14, 2016 Thomas Cook is branching out its own-brand portfolio with the launch of 14 more hotels in the next two years. It is investing in new hotels across Europe, with locations in Cyprus, Kos, Mallorca and Sicily, as well as elsewhere, including the Maldives. The company said it formed part of its strategy to secure long-term profitable [...]
Britain’s companies need to find new ways to incentivise staff so bottom lines are not impacted November 14, 2016 Britain's companies will need to find more creative ways of incentivising staff to mitigate pressure on bottom lines as they start to feel the pinch of increasing inflation over the coming months. FTSE 350 companies have already pencilled in two per cent wage increases for 2016 according to a survey by PwC. Read more: Openness [...]
Most fintech employees don’t value diversity in the workplace November 14, 2016 Fintech might be shaking up the financial industry with disruptive innovation, but new research suggests it hasn’t been so ahead of the crowd on diversity in the workplace. In fact fintech employees place the lowest value on diversity in the workplace of all financial services workers, according to recruitment firm Astbury Marsden. The survey of [...]
Rents grow at slower pace as landlords juggle tenant affordability and their own returns according to HomeLet November 14, 2016 RENTS across the UK rose by an annual average of 3 per cent in October as landlords juggle affordability for tenants with their own returns. A tenant signing up for a new tenancy during October agreed to pay an average monthly rent of £902, 3 per cent above October 2015’s average of £875 according the [...]
The new lord mayor must look to the future November 14, 2016 The City now has its 689th lord mayor. On Saturday, Andrew Parmley donned the traditional finery and paraded through the City in the magnificent State Coach that has carried his predecessors every year since 1757. The Lord Mayor’s Parade is one the most public-facing elements of the City of London Corporation, which can lay claim to [...]
City Moves for 14 November 2016 | Who’s switching jobs November 14, 2016 Valad Europe Valad Europe, part of Cromwell Property Group, a global real estate investment manager, has hired Robin Macpherson as head of risk, Europe. Reporting directly to David Kirkby, CEO, Europe, Robin will be responsible for all aspects of risk management affecting the European business. The role will include leading and overseeing legal and compliance issues [...]
Departing Baltic Exchange boss predicts bright future under new Singapore owner November 14, 2016 Amid the drama of the London Stock Exchange’s £21bn merger with Deutsche Boerse, the sale of another London-based exchange company – much smaller, but not too much younger – went through without much bother this month. Last week, the Singapore Exchange (SGX) completed its £87m acquisition of the Baltic Exchange, a City of London-based maritime marketplace and information provider. [...]