The restrictive bonus cap is finally loosening August 23, 2016 It's time for the UK to throw off the EU's restrictive bonus cap. The cap may have been brought in with the best of intentions following the financial crisis – curbing excessive rewards for risky trading behaviour – but it has turned out to be increasingly counterproductive. This week, an unintended consequence has emerged that serves [...]
Pensions Regulator’s powers must be strengthened so it can crack down on those avoiding responsibilities August 9, 2016 Pensions are in a pickle. The deficits of private sector schemes are ballooning on the back of rising longevity and interest rates plunging to record lows. The sheer scale of the black hole in defined benefit, or final salary, schemes has prompted senior MPs to call them “the greatest challenge facing longstanding British businesses”. Why [...]
Apprenticeship levy needs to be more flexible according to new survey of London businesses August 8, 2016 MANY London businesses want more flexibility from the upcoming apprenticeship levy, a new survey has found, prompting a leading business group to call for the Government to pay heed to the needs of smaller firms. According to a poll conducted by London Chamber of Commerce and Industry in partnership with ComRes, more than a third [...]
A rate cut could wipe £1.4bn off operating profits at the UK’s top banks August 4, 2016 Profits will be decimated at the UK’s top banks if, as widely expected, the Bank of England cuts interest rates to a historic low of 0.25 per cent today. New analysis by the banking practice of consultants Simon-Kucher and Partners predicts that lower rates would wipe £1.4bn off the operating profits at the UK’s top [...]
SMEs urge Prime Minister Theresa May to keep access to European markets post Brexit August 4, 2016 THE UK's small businesses are calling on the Prime Minister Theresa May to keep access to European markets as part of the Brexit process ahead of a key meeting with her today. May is meeting SMEs and their trade associations as she plots a path to Brexit, and formulates her new economic and industrial strategy. Mike [...]
Royal Mint Court near the Tower of London gets planning permission for a redevelopment that includes space for a start up hub August 1, 2016 The capital is to get space for a new tech hub in the former home of the Royal Mint near the Tower of London. A proposal to remodel and refurbish the historic building, called Royal Mint Court, has received planning permission from the London Borough of Tower Hamlets. The plans by Delancey and the LRC [...]
“Unscrupulous” deals should be scrutinised and potentially blocked in the wake of the BHS debacle according to the former chair of the pension protection fund July 31, 2016 THE pensions regulator should be given new powers to block “unscrupulous” deals, or be bolstered by the creation of a separate agency, in order to avoid a repeat of the BHS pensions debacle according to the former chair of the Pension Protection Fund, Lady Barbara Judge. She believes a new entity along the lines of [...]
Why go ahead for Hinkley Point today would create a wealth of benefits for the UK in the run up to Brexit July 28, 2016 A GREEN light for new nuclear reactors at Hinkley Point in Somerset would unlock a wealth of “collateral benefits” for the UK, from jobs to foreign direct investment according to Lady Barbara Judge, the former chair of the UK Atomic Energy Authority. It would also signal to the world that the UK is open for [...]
Calls grow for major reform of business governance and pay ratios July 26, 2016 British business is facing fresh pressure to undergo major reform, with Prime Minister Theresa May pledging to overhaul capitalism and revamp corporate governance. The influential Institute of Directors (IoD) has added to the clamour for change by calling for a review of corporate governance, while the Investment Association will today call for greater pay disclosure [...]
F1 accelerates to record valuation of £6.4bn on back of Sky deal and new race in Mexico City July 24, 2016 THE value of Formula One accelerated 8.8 per cent to a record £6.4bn in the first three months of this year according to an independent valuation commissioned by Ferrari. It sets a high barrier for potential suitors of the sport which are understood to include investment firm China Media Capital and RSE Ventures, owner of [...]
