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The UK’s largest construction trade association has warned of an impending skills shortage that will hurt housing delivery and slow down new builds. Research by the Federation of Master Builders (FMB) based on an annual survey of small and medium-sized (SME) housebuilders found that 44 per cent said a shortage of skilled workers was a [...]
The total assets held by Asian banks have grown nearly six-fold since the financial crisis, as Europe increasingly diminishes in the global banking landscape. The rise of Asian banks, particularly those in Japan and Chins, is underpinned by an overall asset expansion from $4 trillion (£3.1 trillion) to $23 trillion, analysis by law firm Linklaters [...]
The government has put forward new laws aimed at allowing small businesses to access invoice finance, which it says will provide a £1bn long-term boost to the economy. Proposals put forward as part of the government’s Industrial Strategy initiative by small business minister Kelly Tolhurst will allow companies to raise money from unpaid invoices – [...]
UK business optimism has hit its lowest level since Prime Minister Theresa May called a snap General Election in 2017, as companies grow increasingly concerned over a lack of progress with Brexit negotiations. The drop, which landed hardest in the services industry, comes after the sector contracted for the first time in eight years. For [...]
The hotel tycoon behind an audacious bid to build and operate Heathrow’s third runway plans to put his money where his mouth is, challenging the airport’s operator for control of expansion plans. Surinder Arora has confirmed he intends to launch a formal bid to build a new terminal and runway at the airport, the busiest [...]
Asset manager Old Mutual Global Investors (OMGI) is preparing to raise £200m by floating a new investment fund aimed at private companies. The company has never previously formed a vehicle aimed at investing in unquoted firms. It is expected to announce the fund, called the Merian Chrysalis Investment Company, this week. Its portfolio is expected to [...]
Tesla and SpaceX chief executive Elon Musk has claimed he is just a “few months” away from a major announcement about a device which will fuse the human brain with artificial intelligence (AI). The eccentric billionaire, who has been the source of a host of controversies over the the past few months, said his Neuralink [...]
The Bank of England’s replacement for the scandal-hit Libor interest rate is to take a major step forward as Lloyds Banking Group prepares to issue the first bonds tied to it. Lloyds will become the first commercial lender to use Sonia, a three-year sterling benchmark floating rate covered bond with is tied to the Sterling [...]
Prime Minister Theresa May has kicked off the new political season with a pointed put-down of rival Boris Johnson, with Downing Street saying the former foreign secretary offered “no new ideas” in the Brexit debate. As rumours grow that he is preparing to challenge May over her control of the Conservative party, Johnson used his [...]
The City of London Corporation has revealed the businesses shortlisted for the Lord Mayor’s Business of Trust Champion Award, a prize aimed at celebrating companies with are championing responsible business practices. Asset manager Blackrock and high-street bank Metro Bank are among the six companies on the shortlist, which includes SMEs and large corporate firms across [...]
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