London Mayoral Election 2016: Property giants reveal wishlist for next mayor, including protecting commercial property space in the city’s centre November 19, 2015 Two of London’s major property groups have today revealed their ‘Mayoral Manifesto’, calling on the next Mayor of London to tackle issues stemming from a rising population and increased demand for housing and jobs. The Westminster Property Association (WPA) and City Property Association (CPA), who represent more than 400 owners, developers and investors between them, want [...]
Recruitment industry now worth £31.5bn, up nearly 10pc from the year before, but skills shortages could create problems November 19, 2015 Recruitment is now a £31.5bn industry, up 9.7 per cent compared to last year. According to a report released today by the Recruitment and Employment Confederation (REC), recruiters placed 634,000 people in a permanent post over the last year, and have helped 4m workers find a permanent role since the recession. Also, 1.2m people were [...]
Flood Re secures £1.29bn in first phase of reinsurance tender process, putting it on track to accept first policy in April 2016 November 18, 2015 Flood Re, a reinsurance body aimed at limiting the cost of flood insurance for high-risk households, has secured £1.29bn in phase one of its reinsurance tender process, it was announced today. This figure means the project is on track to secure £2.1bn by early 2016, allowing it to accept its first policy in April 2016. “Flood [...]
One Direction lawyers Lee & Thompson announces merger with Forbes Anderson Free November 18, 2015 Law firms Lee & Thompson and Forbes Anderson Free announced today that they would be merging on 1 January 2016. Media and entertainment litigators Forbes Anderson Free will be moving into creative industry specialists Lee & Thompson’s West End offices and adopting the Lee & Thompson name. The merger will boost partner numbers at Lee [...]
Hastings Group Holdings brings home revenue of £350.2m for third quarter results, as customer numbers also boosted November 18, 2015 Hastings Group Holdings revealed this morning that it had racked up net revenue of £350.2m for the nine months to 30 September 2015, up 19 per cent compared to £295.4m for the same period last year. The insurers, who listed on the London Stock Exchange in October, also saw an increase in live customer policies, rising [...]
National Living Wage: More than half of employers to feel rising wages’ impact, causing a third to vow to improve productivity levels November 18, 2015 More than half (54 per cent) of employers predict the introduction of National Living Wage will affect their staffing bill, according to research released today by the Chartered Institute of Personnel and Development (CIPD) and think tank the Resolution Foundation. In the survey of 1,037 employers, nearly one in five (18 per cent) said the [...]
Shunning fossil fuels could burn £1m a year off of GLA pension fund November 18, 2015 Going green might be good for the environment, but it could eat into the Greater London Authority (GLA) pension fund. GLA Conservatives economics spokesman and assembly member Gareth Bacon has said that the pension fund could potentially lose out on £1m per year if it stops investing in fossil fuels. “Recent calls to stop the [...]
Payroll mishaps cost FTSE 100 companies up to £30m a year November 17, 2015 Payroll slip-ups are costing the average FTSE 100 company between £10m and £30m a year. According to a PwC study of 193 global organisations, which was released today, the increasingly international nature of today’s workforces in particular is creating issues for payroll, as individuals’ statuses need to be tracked across a variety of different tax regimes. [...]
MEPs quizzed 11 multinational companies, including Facebook and Google, on their corporate tax dealings yesterday November 17, 2015 Members of European Parliament (MEPs) gave 11 multinational companies, including Google and Facebook, a five-hour grilling over their corporate tax practices late on Monday. In particular, the Special Committee on Tax Rulings questioned the companies about their transfer pricing arrangements, which affect the prices companies transact at within a group, and their feelings towards the [...]
HomeServe fixes up profit of £26.2m for 2015 half year results as customer numbers continue to rise November 17, 2015 HomeServe this morning revealed adjusted profit before tax of £26.2m for the six months ended 30 September 2015, up less than one per cent from £26m for the same period last year. However, adjusted profit before tax on a constant currency basis would have been £28m, an increase of eight per cent. Net debt for [...]
