London buses go greener in 2016, as successful bids for Department for Transport fund revealed January 3, 2016 Fifty buses in London will be kitted out with technology designed to cut harmful emissions by up to 90 per cent, after successful bids for a Department for Transport fund were revealed today. The Clean Bus Technology Fund 2015, which local councils were invited to bid for grants from in September of last year, will dish [...]
Pension tax relief changes are forcing employers to rethinking how they reward their higher earners December 23, 2015 A third of companies have gone back to the drawing table over how they reward their higher earners, as new restrictions slash the amount people can put into a pension pot tax free. Research released today by professional services firm PwC found that changes to the annual allowance for higher earners, which are due to come [...]
Draft Investigatory Powers Bill will put legal professional privilege at risk, warns Law Society December 22, 2015 The Law Society today warned that the draft Investigatory Powers Bill could put an end to legal professional privilege as we know it. The Society, which responded to the draft Investigatory Powers Bill Joint Committee consultation today, has called for the new legislation to include explicit protection for those who want to receive confidential advice from their [...]
Cash most certainly not king, as savers missed out on £10.6bn this year by not opting to invest in equities instead December 22, 2015 UK savers' devotion to cash caused them to miss out on £10.6bn this year, according to a study released today by investment trust manager Henderson Global Investors. At the end of October 2015, the country's savers had squirrelled away £746bn in cash, £376bn of which being held in instant access accounts, which carry an average interest rate [...]
Job hunting on the cards post-Christmas as just over a quarter of finance professionals already looking for a new job December 22, 2015 Those fancying a change of scenery office-wise in 2016 better get polishing off their CV fast, as just over a quarter (27 per cent) of financial services professionals have already started looking. According to figures shown exclusively to City A.M. today by recruitment consultancy Robert Walters, almost half (46 per cent) of those working in [...]
Law firm fee income inches up for the first six months of the 2016 financial year December 22, 2015 Fee income for the UK's top 100 law firms has crept up in the six months to the 31 October 2015, increasing by 4.5 per cent compared to the same period the year before. According to Deloitte's most recent quarterly legal sector survey, which was released today, fee income also grew 4.7 per cent in the last quarter compared [...]
Warning shot to the City as trader Tom Hayes’ conviction over Libor scandal upheld December 22, 2015 The City was sent a stark warning yesterday that authorities will continue to crack down on financial crime as Court of Appeal judges upheld Tom Hayes’ conviction for Libor rigging. Hayes, who was found guilty on eight charges of conspiracy to defraud and sentenced to 14 years in August for his role in the manipulation [...]
Grant Thornton subject of Financial Reporting Council investigation over its audit of Globo’s accounts December 21, 2015 The Financial Reporting Council (FRC) has today revealed that it is launching an investigation into accountancy firm Grant Thornton regarding its audit of the accounts of Globo for the years ended December 2013 and 2014. The technology company announced in October that its former chief executive had alerted the board to misrepresentations of the company's financial situation. [...]
Fintech adoption could double among digitally active consumers in the next year December 21, 2015 Consumers' love of technology is growing at such a pace that their adoption of financial technology (fintech) could double in the space of a year. According to a survey of more than 10,000 digitally active consumers from around the world released today by EY, 16 per cent have used at least two fintech services in the last six months, [...]
Toshiba share price topples as electronics giant reveals restructuring plans, including thousands of job losses December 21, 2015 Shares in Toshiba toppled today after the electronics giant revealed its revitalisation action plan, designed to shakeup the structure of the company. The plans included cutting 6,800 jobs from its lifestyle business division, which deals with PC, visual products and home appliances, by next March, and focusing more on cash flow, rather than profit, for the company's mid-term [...]
