Pensions giant L&G invests more than £3m in London auto enrolment fintech firm Smart Pension July 28, 2016 Is auto enrolment London's next technology cash cow? L&G seems to think so: it's invested more than £3m in London pensions firm Smart Pension – which is barely a year old. Although it hasn't disclosed exactly how much it spent, City A.M. understands the figure was higher than Smart Pension's last funding round, earlier this year, in which it [...]
Thomas Cook earnings pushed lower by terrorism in Turkey and Brussels July 28, 2016 Thomas Cook's earnings fell in the third quarter, after terrorism in Turkey and Brussels put people off going on holiday. The figures Revenues fell eight per cent to £1.85bn in the three months to the end of June, as bookings for Summer 2016 fell five per cent (although excluding Turkey from that figure, they actually rose eight per cent). That means its [...]
London Wall still closed to vehicles eastbound after hundreds evacuated following a gas leak last night July 27, 2016 London Wall was still closed to some vehicles after a gas leak last night caused hundreds of City workers to be evacuated. City of London police said the road was closed to vehicles heading eastbound. No injuries or fatalities were reported in the incident, a spokesman for the London Fire Brigade said last night. He added that [...]
Brexit fears? Pah: GDP growth in the second quarter just beat expectations July 27, 2016 The pound briefly rose against the dollar in early trading, after figures from the Office for National Statistics (ONS) showed the UK's economy grew 0.6 per cent in the second quarter, beating expectations. Sterling edged up to $1.3134, from a session low of $1.3106, after growth rose above the 0.5 per cent economists had expected for [...]
Rightmove’s shares just jumped after it reported impressive mobile traffic July 27, 2016 Don't write off the UK's property market quite yet: shares in Rightmove jumped this morning, after it reported a surge in mobile traffic. The figures The property portal said this morning that revenues had jumped 16 per cent to £107.9m in the six months to the end of June, while pre-tax profits rose to £80.6m, from £66.6m last year. It signed [...]
City A.M. Unregulated podcast: Trading for millennials – can you get rich quick on the stock market? July 27, 2016 Millennials are the left behind generation – they can't afford property, their savings are doing nothing and they're going to work until they drop. Time to get proactive? This week we're joined by 25-year-old Aaron Fifield, the host of the Chat With Traders podcast, and Triforce Trader Matthew Owens, also 25, to discuss whether trading on [...]
Why it’s time to start taking Donald Trump seriously, part two July 27, 2016 Just as the UK’s former Remain camp was getting used to the transformation of Project Fear into Project Sigh Exaggeratedly But Put Up With It, a new version has emerged across the pond. Yes: Project Fear, Donald Trump Edition, ground into gear this week as the Democratic National Convention got into full swing – – [...]
Businesses react angrily as RBS tells business customers: We may charge you to hold your deposits if interest rates go negative July 26, 2016 Businesses have reacted angrily after RBS and its subsidiary, NatWest, wrote to business customers to warn that they may have to charge them to hold deposits if interest rates go negative. In a letter to business and commercial banking customers, the lender wrote that it was making a number of changes to their terms and conditions – [...]
Bankers in this specialism take home the biggest pay packet July 26, 2016 Banking is known to be one of the best-paying sectors in the UK – but which specialism you go into has a huge effect on the amount you'll take home at the end of each month. If you're considering a change of direction, you could do a lot worse than check out this chart, compiled [...]
Cheer up: The value of the average UK home rose £21 per day in the first half of this year July 26, 2016 It hasn't all been bad news around house prices since the Brexit vote: it turns out the average home rose in value by £21.07 a day in the first half of the year, according to new figures. Research by property portal Zoopla suggested the average home is now worth £290,725, up £3,847, or 1.3 per cent, [...]
