Public borrowing could overrun by £100bn over the next five years November 15, 2016 Philip Hammond could be on track to overshoot previous public borrowing forecasts by £100bn in total by 2021, a report out today has warned. PwC also found that, if the new chancellor opts to keep the status quo on spending despite June's referendum result, this year's public sector net borrowing will come in at £67bn, around £10bn [...]
Europe’s finance chiefs stay positive despite Brexit woes November 15, 2016 Finance chiefs across Europe are worried about Brexit, but remain confident their business has what it takes to make it through the uncertainty, research published today has found. While two-thirds (67 per cent) of those surveyed by Deloitte felt there was a high degree of financial and economic uncertainty facing their business at the moment, a [...]
Prime Minister Theresa May warns weight needs to be given to globalisation worries November 14, 2016 Prime Minister Theresa May warned tonight that political "change is in the air" throughout western democracies, telling an audience in the City: "globalisation in its current form has left too many people behind". Speaking at the Lord Mayor's banquet at the Guildhall, May accepted that liberalism and globalisation continue to have "an overwhelmingly positive impact [...]
Boards still in denial over cyber risk, as bosses keen to pass the buck November 14, 2016 Boards still have their heads buried in the sand when it comes to cyber security, a new survey has found. The research commissioned by NCC Group, and seen exclusively by City A.M., found that just 13 per cent of chief executives thought they needed to take responsibility for the level of cyber risk in their company. [...]
Nutmeg raises £30m in latest funding round, the largest of its kind for fintech since Brexit vote November 14, 2016 Nutmeg announced today it has drummed up £30m in its latest round of funding, the largest raise in the fintech sector since the Brexit vote. The fintech pioneer will use the money from the funding round, which was lead by Hong Kong based independent financial advisory firm Convoy, to expand its product offering and rapidly grow [...]
Addleshaw Goddard gears up for merger with HBJ Gateley in Scotland November 14, 2016 Law firm Addleshaw Goddard is planning to expand its offering in Scotland, today announcing it is in the early stages of merging with HBJ Gateley. HBJ Gateley, a Scottish firm associated with but independent from listed law firm Gateley, was the joint eighth largest Scottish law firm by turnover in 2015-16, pulling in £21.9m. The firm has three offices, in Aberdeen, Edinburgh, [...]
London banks are falling for Frankfurt, according to this German official November 14, 2016 Financial firms are eyeing up their opportunities in Frankfurt following the summer's Brexit vote, an official from Germany's finance ministry has said today. There have been numerous reports of banks tidying up their contingency planning, as businesses consider whether they need to move some of their operations out of London to make sure they can continue [...]
Supermoon London November 2016: Can’t get out to see the supermoon action? We’ll bring it to you instead November 14, 2016 If you're in the position to look up to the skies in London, you might notice something a bit unusual about the moon tonight. Tonight's moon will be a supermoon, as its orbit is the closest to the earth it has been since 1948. In fact, it's forecast to look some 14 per cent bigger [...]
