Anatomy of a sector: UK finance and professional services support 2.2m jobs, contributing 11 per cent of tax receipts and generating a £72bn trade surplus March 7, 2016 You already knew it, but here's definitive proof: supporting 2.2m jobs and contributing 11 per cent of tax receipts, finance and professional services is one of the most important sectors in the UK, according to new research. A major report by City lobby group TheCityUK shows not only that the sector is a leading employer, accounting for almost [...]
International Women’s Day 2016: Female traders’ bonuses are half that of their male counterparts – while it takes women bankers six months longer to be promoted March 7, 2016 The banking sector already has a pretty bad reputation when it comes to diversity among the genders – but things are about to get worse, after new research suggested some female bankers can expect a bonus less than half the size of their male counterparts. The research, by salary benchmarking site Emolument, found while men in [...]
EDF confirms finance director Thomas Piquemal has stepped down over Hinkley Point crisis March 7, 2016 The future of Somerset's massive Hinkley Point nuclear power station was looking even more uncertain this morning, after EDF confirmed one of the top executives involved in the project had resigned, warning it could put the company in financial jeopardy, according to reports. Last night Bloomberg reported finance director Thomas Piquemal had stepped down due to concerns over the project, which is likely [...]
From experience to tenacity: Here are five key traits shared by all successful entrepreneurs March 4, 2016 Confidence, passion or a true belief in their business idea is the route to success for many entrepreneurs, and while these qualities are often the most celebrated, they will rarely deliver in isolation. When you scratch the surface, many entrepreneurs also possess a broader set of skills and personality traits that help them in all areas [...]
FTSE finishes the week higher after Brent crude, WTI oil and commodities prices rally March 4, 2016 The FTSE 100 finished the week comfortably above the 6,000 mark, after a week in which the price of oil surged. The FTSE finished at 6,199 points – 1.1 per cent higher. That brought its total rise for the week to 1.7 per cent. The rally came after the price of oil surged every day [...]
US non-farm payrolls smash it again – but wages fall March 4, 2016 US job openings leaped again in February, way above analyst expectations. Official figures from the US' statistics bureau showed openings rose to 242,000, against expectations of 195,000. That left unemployment at 4.9 per cent, a post-recession low. However, average hourly earnings fell by 0.1 per cent during the month, from a 0.2 per cent rise the month before. “Fed [...]
Make no mistake: The senior managers regime won’t just affect the top bankers – everyone in the sector should be worried March 4, 2016 Last month banks provided City regulators with individual statements of responsibility for every one of their senior managers, detailing their personal accountabilities. This was in preparation for the Senior Managers Regime, which will be enforced from 7 March. Regulators have made clear that they’re aiming to go after the most senior managers, rather than their [...]
These never-before-seen pictures show the Barbican as it was being built March 4, 2016 Love it or hate it, the Barbican is one of the Square Mile's most iconic buildings, as well as being one of London's best known examples of brutalist architecture. Now a new book celebrates the building, with never-before-seen photos of the building's construction. Photographer Peter Bloomfield was commissioned by the Barbican Centre's first managing director, [...]
So is coffee healthy or not? Scientists have given us the definitive answer March 4, 2016 City life runs on coffee and as many as 67 per cent of Europeans say they can’t imagine life without it – but how many of us know how healthy the black stuff is? In a report released today, scientists said coffee is not as bad as many of us think, and that it may actually [...]
Having a job costs UK workers £91bn a year as the price of food, phone bills and childcare rises – but commuting has actually become cheaper March 4, 2016 It's one of life's great paradoxes: you go to work every day, only to be charged a hefty portion of your salary just for the privilege of being there. Now research by Santander has worked out exactly how much UK workers are paying just to have a job: the answer is £91bn, or £3,405 each – [...]
