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UK businesses are increasingly adopting automation November 13, 2019 Eighty seven per cent of businesses have automated a key process during the last year, a survey of chief financial officers showed today. One-in-five financial officers view automation as their most most important investment priority during the next five years, the survey by accountancy firm BDO said. A third of businesses (31 per cent) have [...]
Eddie Stobart shareholders face steep losses in potential rescue November 12, 2019 Shareholders in logistics firm Eddie Stobart face a steep cut in the value of their investment as part of a proposed financing deal. A proposed offer from former controlling shareholder Dbay Advisors would be at a huge discount to the price at which its shares were suspended in August, Sky News reported. Citing sources, the [...]
Former Man Group president Jonathan Sorrell to join Capstone November 12, 2019 The former president of FTSE 250-listed hedge fund Man Group Jonathan Sorrell is joining hedge fund Capstone. Sorrell, son of former WPP boss Sir Martin Sorrell, stepped down as an executive director of Man Group in September. He had been at Man Group since 2011 when he joined as chief financial officer. Previously, he had [...]
Water industry set to announce new boss ahead of nationalisation fight November 11, 2019 A former Centrica executive is set to be announced as the new boss of the UK’s biggest water trade body as the industry gears up to fight nationalisation and a regulatory crackdown. Water UK is set to appoint Christine McGourty as its new chief executive, Sky News reported. The announcement of her appointment is expected [...]
Salaries for UK financial services workers jump amid competition for talent November 11, 2019 The average salary for UK financial services workers jumped to £53,000 in the second quarter amid competition for talent. Data released today by recruitment software provider Broadbean showed the average salary for financial workers in the first quarter rose to £48,500 before climbing to £53,000 in the second quarter. The increase in salaries comes despite [...]
US law firm launches in London and plans UK expansion ‘because of Brexit’ November 10, 2019 A US law firm has launched in London to take advantage of the weakness of the pound triggered by Brexit. Tully Rinckey received regulatory approval to operate in the UK during the summer and has opened its first office in Mayfair. The firm – which opened its first international outpost in Ireland in 2018 – [...]
SNP leader Nicola Sturgeon says she would ally with Labour in return for an independence vote November 8, 2019 The Scottish National Party (SNP) will seek a “progressive alliance” with the Labour Party if next month’s election leaves no one party with a clear majority, its leader Nicola Sturgeon said today. The UK heads to the polls on 12 December for an election called by Prime Minister Boris Johnson to try and get a [...]
Chinese e-commerce giant Alibaba eyes $15bn Hong Kong listing in boost for troubled city November 8, 2019 Chinese e-commerce giant Alibaba Group Holdings is eyeing a $10 to $15bn (£11.7bn) listing in Hong Kong in a boost for the Asian financial hub which is being wracked by anti-government protests. Read more: Alibaba delays Hong Kong listing over protests The US-listed company is due to seek approval from Hong Kong’s listing committee on [...]
Half of UK citizens think the country will not exist in a decade November 8, 2019 More than half of UK citizens think the country will not exist in its current form a decade from now, according to a new poll. The Ipsos Mori poll showed 50 per cent thought the United Kingdom would not exist in 10 years, up from 43 per cent in 2014. Just 29 per cent said [...]
Clacton Labour candidate Gideon Bull steps down over ‘Shylock’ remark November 8, 2019 The Labour Party candidate for Clacton has stepped down after allegations he made an antisemitic remark to a fellow Labour councillor. Gideon Bull, who is a cabinet member in Haringey council, was accused of calling Jewish councillor Zena Brabazon “Shylock” during a private meeting. Bull denied he called Brabazon “Shylock” but admitted he used the [...]