Fixed income managers unanimous in their predictions that Britain will not leave the EU February 11, 2016 Fixed income managers do not expect the UK to leave the European Union, according to a new survey by Aviva Investors. When asked about the prospects of a Brexit later this year, the firm’s 20 fixed income managers unanimously predicted that the UK would remain in the EU for at least another two years. This [...]
HSBC chief executive Stuart Gulliver cancels pay freeze after two weeks and raids 2017 bonus fund to cover the cost February 11, 2016 HSBC has cancelled plans for a pay freeze this year, according to a new memo from chief executive Stuart Gulliver. Less than two weeks ago, it was revealed the bank planned to impose a pay freeze and a hiring freeze across its global business in an effort to save up to $5bn by 2017. However, in [...]
British Gas and EDF become last of the ‘Big Six’ to cut energy prices February 11, 2016 British Gas and EDF Energy have announced price cuts of 5.1 per cent and five per cent, respectively. The energy giants have become the last of the ‘Big Six’ to offer reductions to their customers in recent weeks, following Npower, E.ON, SSE and Scottish Power. This is the third time that British Gas has lowered its [...]
Chinese New Year 2016: ‘Year of the Monkey’ sales boost expected as London brands race to attract Chinese shoppers February 1, 2016 Despite China's creaking economic slowdown and chaotic markets, London's shops could benefit from a boom in tourists over Chinese New Year. Tax-free incentives, a simplified visa programme and a new generation of shopping-mad millennials are behind the expected increase in Chinese spend, according to international retail specialist Global Blue. Chinese New Year takes place between 8 [...]
Freelancers feeling good again after government scraps tax plan February 1, 2016 Things are looking up for the UK’s growing freelance community, with confidence rising and a controversial tax plan scrapped. According to a new survey by the Association of Independent Professionals and the Self Employed (IPSE), 35 per cent of freelancers felt confident about their work prospects in the third quarter of 2015, compared with just [...]
Hotel occupancy up but London loses out as tourists look beyond the capital February 1, 2016 Tourists are giving London the cold shoulder and choosing to stay outside the capital city, driving profits up in the UK’s hospitality sector. The average profit margin of UK hotels rose from 3.5 per cent in 2013/2014 to 4.5 per cent in 2014/2015 according to a new report by finance provider LDF. And for the [...]
Greek bailout talks to continue amid clashes over pension reforms January 31, 2016 Greece is set to review its bailout progress on Monday, with pension reforms high on the agenda. The talks – which were initially scheduled to take place in December – are likely to last at least a couple of weeks. The review comes as bailout monitors arrive in Athens to check on the progress of [...]
JP Morgan trials Bitcoin technology blockchain with former executive Blythe Masters January 31, 2016 JP Morgan has become the latest firm to invest in Bitcoin technology blockchain, through a collaboration with start-up Digital Asset Holdings (DAH). The bank has announced plans to trial the technology on its loan funds in an effort to improve liquidity for international clients, and will also seek out other applications within its investment banking business. [...]
Saudi market rallies despite threat of austerity as oil price ticks up January 31, 2016 A rise in oil prices has seen Saudi Arabia’s stock market rally impressively despite warnings that the country faces growing fiscal difficulties. The Tadawul All Shares Index – Saudi Arabia’s highly secretive stock market – rose for the fourth day in a row on Sunday, its longest winning streak since November 2015. For the week ending 28 January [...]
From concrete diamonds to timing: Here are seven things you can expect from Crossrail construction in the year ahead? January 29, 2016 Crossrail has been little more than an annoyance for passengers over the past few years, but as the 2018 deadline draws closer it’s all starting to feel a bit real. So what can you expect from Crossrail in the year ahead? 1. It’s being delivered on schedule No, really. As of now, the project is [...]