London generates £74bn of financial and professional services exports October 13, 2022 London generates £74bn of the UK’s financial and professional services exports, according to a new report out yesterday. The City’s banks, brokers, insurers and law firms’ share of Britain’s £130bn financial and professional services export industry is running at 57 per cent, according to Square Mile lobby group TheCityUK. However, the body’s research illustrated that [...]
London start-up founders reap rewards of almost £200m in loans October 10, 2022 London has received more start-up loan cash than anywhere else in the country after a decade of a programme supporting entrepreneurs. Founders in the capital have received £187.1m through the government backed Start Up Loan scheme, with businesses across the country being provided with loans and mentoring. The scheme has delivered more than 97,000 loans [...]
Blackstone backs London with new Mayfair base October 8, 2022 Blackstone will build its new European headquarters in London at its Mayfair base, in a fresh boost for the for the capital.
£1.5bn Liverpool Street station upgrade sparks conservationists’ concerns October 6, 2022 A £1.5bn proposed upgrade of Liverpool Street station has sparked concern among conservationists. Shard Quarter developer Sellar, alongside Network Rail and Elizabeth line operator RMT, unveiled the plans today. The mixed use blueprint includes plans for up to 10 floors of office space, as well as six floors taken up by the Andaz hotel. Developers [...]
Wealthy buyers turn to cheaper London homes as sterling shrinks October 4, 2022 Buyers are seemingly turning to cheaper London homes amid a shrinking pound, despite a “rejuvenated level of foreign interest”. Demand for London homes worth more than £10m has fallen consistently in the first half of the year, while London’s prime market, of homes valued between £2m and £10m, has enjoyed an uptick. According to research [...]
London Film Festival 2022: Seven titles not to miss, from The Whale to Empire of Light October 3, 2022 The BFI’s London Film Festival (LFF) is just around the corner, with the Southbank Centre playing host to the great and the good of the movie business from 5-16 October. This year it will showcase 164 feature films — 22 of which are world premieres — across nine London venues. There is something for everyone in [...]
HSBC considers leaving Canary Wharf HQ September 29, 2022 HSBC is considering leaving its iconic Canary Wharf headquarters when its lease expires in early-2027. The bank is carrying out a review of “the best future location in London” for its global headquarters, according to an internal memo seen by Financial News. HSBC’s options include either renovating its current building or moving to another London [...]
Tech startup helps businesses to combat £9bn waste in productivity due to poor mental health September 28, 2022 12 billion workdays lost annually to mental ill-health but young entrepreneur thinks he has the solution. Mental health issues in the workplace are costing the global economy over £9bn ($1tn) due to lost productivity say international agencies. The World Health Organization (WHO) and the International Labour Organization (ILO) are calling for “concrete actions” as depression [...]
Oxford Street to slash ‘opening hours’ for Christmas lights amid energy crisis September 27, 2022 Oxford Street will lower its energy usage by two-thirds this Christmas as it lights up for the festive season. Amid the ongoing energy crisis, London’s famous light display is brightening the street with energy-efficient LED bulbs and reducing its operating hours this year. The switch on, taking place on 2 November, will illuminate the sky [...]
Despite economic gloom more than 800,000 new firms were created this year September 26, 2022 More than 800,000 new firms were created this year despite economic turmoil and grim prospects for the immediate future. Online shopping was a key driver for the 98,000 new retailers which popped up in wake of the pandemic, as Covid unleashed a wave of entrepreneurialism. Figures from private equity firm Growthdeck show 808,000 new businesses [...]