Save high street with business rates freeze says lobby group September 6, 2018 A freeze on business rates should be the central plank of government efforts to help the struggling British high street, a small business lobby group will say today. The Federation of Small Businesses (FSB) will today call for no increase in rates in April 2019, the deadline for the next inflation-linked increase in business rates, [...]
Credit Suisse hires Antonia Rowan as head of UK advisory and corporate broking September 5, 2018 Credit Suisse has promoted Antonia Rowan to head the bank's UK advisory and corporate broking business, replacing Lewis Burnett after he was poached by BNP Paribas. Rowan will start her role with immediate effect, according to an internal memo seen by City A.M. and confirmed by a Credit Suisse spokesperson. Rowan joined Credit Suisse as [...]
Sterling jumps on report Germany and UK could offer key Brexit concessions September 5, 2018 The pound jumped today on reports that Germany and the UK may be prepared to offer key concessions in the Brexit negotiations. Germany and the UK will accept a less detailed deal on the future trading relationship between the UK and the EU in order to secure a withdrawal agreement and avoid a no-deal Brexit, [...]
Royal Bank of Scotland closes 54 branches with 258 jobs lost September 5, 2018 Royal Bank of Scotland (RBS) will cut its English and Welsh branch network in half in January with the loss of more than 250 jobs, in the latest move by a major high street lender to cut back their sprawling networks. RBS is closing 54 branches, leaving another 54, including six in London and the [...]
London’s scale makes UK dominant financial centre in Europe – second only to the US worldwide September 5, 2018 The UK is by far the most important financial centre in Europe, coming second only to the US worldwide, according to a new ranking to be published today. Britain and the US far outstrip all other competitors, the report by the New Financial think tank found, based on an analysis of 42 different metrics, from [...]
Fraudsters sentenced in £2.8m Madeira luxury property investment scam September 4, 2018 Five people were today sentenced to a total of 17.5 years in prison for their part in a £2.8m investment scam which resulted in the City watchdog's second largest criminal prosecution ever. The fraudsters conned their victims into investing the cash in a fantasy development on the Portuguese island of Madeira, supposedly guaranteeing massive returns [...]
New WPP boss Mark Read announces strategy review as North American revenues drag September 4, 2018 WPP revenues fell in the first half after a poor performance in North America as newly appointed chief executive Mark Read today announced a strategy review. Shares in the advertising giant fell by six per cent at the time of writing. The figures Reported revenues fell by 2.1 per cent in the first half compared [...]
Mark Carney says he is willing to stay on as Bank of England governor September 4, 2018 Mark Carney today said he is willing to do whatever he can to promote a smooth Brexit process when asked if he will stay on as Bank of England governor. Carney said he is "not in a position" to make an announcement today, but said he expects the Treasury to make an announcement "in due [...]
Construction sector faces renewed slowdown in August as infrastructure projects lag September 4, 2018 Activity in the British construction sector slowed in August as housebuilders and civil engineering firms held back from projects, according to a bellwether survey of the industry. Expansion in the sector waned to a three-month low, with IHS Markit's purchasing managers' index (PMI) today retreating to a reading of 52.9 points, from a strong 14-month [...]
New WPP boss tries to make his mark as post-Sorrell era begins September 4, 2018 Newly anointed WPP chief executive Mark Read yesterday signalled a change to the swashbuckling approach of the former “king of adland”, Sir Martin Sorrell, with a focus on organic growth and divestments rather than further shopping sprees. Read was appointed yesterday with immediate effect to head the firm, more than four months after the abrupt [...]
