EEF urges government to ensure its industrial strategy helps defence firms October 14, 2016 EEF has called on the government to ensure that its industrial strategy bolsters companies in the defence and security supply chain. It believes that a boost to the capability of, and spin off technologies in, the sectors are vital to the future of high value manufacturing in the UK. "The advantage to the UK economy of maintaining [...]
Marmitegate is the “thin end of the wedge” for the retail industry October 14, 2016 Tesco and Unilever's public price war is the "thin edge of the wedge" for the retail sector after the Brexit vote, analysts have said, as the prospect of higher import costs and job losses weigh on the industry. Unilever has used the fall of sterling after the Brexit vote as a basis for increasing its prices for [...]
City Moves for 14 October 2016 | Who’s switching jobs October 14, 2016 London Bullion Market Association The London Bullion Market Association (LBMA) has appointed Andy Quinn as non-executive director. He currently serves as a director of Randgold Resources, the Africa focussed FTSE 100 gold mining company, where he chairs the remuneration committee and is also a member of the audit committee. Having served on the board since 2011, he takes up [...]
Rents grew at the slowest pace this year in September October 14, 2016 Rents grew at the slowest rate this year in September as landlords absorbed higher tax rates rather than pass them on to tenants. Across the UK rents grew three per cent in the year to September, according to the HomeLet rental index. Read more: How Airbnb started its own Cuban revolution On average, tenants signing new agreements [...]
The IoD has called on Theresa May to scrap the “tens of thousands” target for net migration in an overhaul of policy October 14, 2016 The IoD has called for Theresa May to scrap a “tens of thousands” net migration target, and warned against a dramatic clampdown as the UK withdraws from the EU. May has been clear since the Brexit vote that immigration reform will be a critical part of the government's response. And earlier this month, the government [...]
Odds lengthen on William Hill’s £4.5bn Amaya merger as activist hits out October 13, 2016 William Hill’s talks over a potential multi-billion pound merger with Canadian gambling giant Amaya were dealt a blow last night as a leading shareholder slammed the deal. Parvus Asset Management, the bookie’s largest single shareholder with a 14.3 per cent stake, said the potential merger – which would create a combined company worth around £4.5bn – had [...]
The number of London businesses breaks through the one million barrier October 13, 2016 There has been a surge in the number of new businesses in the capital over the last four years according to the government. The department for business, energy and industrial strategy (BEIS) revealed that there was startling 41 per cent more businesses in London at the start of the year compared to four years earlier [...]
MPs criticise Article 50 case as a “diversionary tactic” after its first day in court October 13, 2016 Eurosceptic politicians have criticised a lawsuit arguing the legal process for leaving the EU for pulling away from the real issues of the debate just as the case kicked off in court. The case, which aims to determine whether an Act of Parliament needs to be put in place before government triggers Article 50 or whether government has the [...]
Wake up, policy-makers: The fintech paradigm shift could change everything October 13, 2016 Nowhere within the financial firmament does enthusiasm abound more right now than in the arena of fintech. Just as it has disrupted and revolutionised our social interactions and shopping habits, the internet is breeding new ways to cut the cost of transacting and pair those with capital with those seeking it. Peer-to-peer lending and crowdfunding [...]
Higher taxes and more debt are the only alternatives to real state pension reform October 13, 2016 Engineering an exit from the European Union will be the most significant administrative challenge faced by Whitehall since the Second World War. But ministers must resist the temptation to put the public service reform agenda on the backburner. The economic uncertainty created by June’s referendum means that driving efficiency is now more important than ever. [...]