Commercial property rents in London are facing a potential freeze as negotiating power passes to tenants post the Brexit vote July 18, 2016 COMMERCIAL property rents in London could be frozen for the next five years as Brexit uncertainty puts negotiating power in the hands of those tenants whose rent reviews fall this year. “Frozen”, or even falling, rents would put more pressure on commercial property funds that have already seen high levels of redemptions since the referendum. [...]
Ineos billionaire Ratcliffe comes home after Swiss tax exile July 17, 2016 Jim Ratcliffe, the billionaire industrialist behind the Ineos chemicals’ empire, has moved back to Britain six years after relocating to Switzerland. In an interview with The Sunday Times, Ratcliffe revealed he had become a UK tax resident on 1 May. He said ths move was “encouraged” by the tax cuts of former chancellor George Osborne but [...]
FTSE enters bull market territory as it closes more than 20 per cent up on February’s low July 11, 2016 THE FTSE100 has entered bull market territory, closing yesterday at 6,682.86 – more than 20 per cent higher than the low of 5,537 that it hit on 11 February this year. The bounce has been led by a recovery in mining stocks, plus a boost from the falling pound which has augmented the Sterling value [...]
Cost of relocating away from London in the event Brexit causes a loss of passporting rights could hit £50,000 per person July 11, 2016 BANKS and financial services companies wishing to relocate their workforce from UK to another European city in the wake of Brexit and a potential loss of passporting rights will face costs as high as £50,000 per employee, according to New York-based consulting firm Synechron. The estimated bill covers relocation, hiring and redundancy costs, new building [...]
Mayor Sadiq Khan sets out to tackle gender pay gap as study shows that men in City Hall earn more than women on average July 11, 2016 NULL
Mayor Sadiq Khan sets out to tackle gender pay gap as study shows that men in City Hall earn more than women on average July 11, 2016 Mayor of London Sadiq Khan has called on employers to close the pay gap for women, and today launched a plan to ensure full pay equality across the Greater London Authority and its functional bodies. A full gender pay audit of all City Hall's staff published today in accordance with a manifesto pledge showed that women employed [...]
Business optimism and output sink to three year lows on back of referendum July 11, 2016 RISING uncertainty in the run up to the referendum has seen business output and optimism sink to three-year lows for the second month running according to the latest findings from BDO. Business output, which reflects companies’ experience of orders for the three months ahead, sat at 99.0 in June. Business optimism, which predicts growth six months [...]
Interest rates could be cut as soon as this week to historic low of 0.25 per cent in bid to boost economy July 10, 2016 THE Bank of England is forecast to cut interest rates as early as this week to ease the strain on the economy in the wake of the referendum. Investors and economists are expecting a rate cut to a historic low of 0.25 per cent on Thursday when the Bank's Monetary Policy Committee meets. BoE governor Mark [...]
Energy lifeboat to be paid for by customers proposed by Ofgem in case of supplier insolvency July 10, 2016 ENERGY customers may have to pay into a new industry lifeboat fund that will bail out customers of any suppliers that fail. Ofgem, the energy watchdog, has proposed the reimbursement fund after a plethora of smaller suppliers joined the market. The proposal is part of a consultation launched last month to pre-empt a potential supplier insolvency. [...]
Lady Barbara Judge, the outgoing chairman of the PPF, on the need for more female executives and pensions protection July 5, 2016 Lady Barbara Judge CBE, the outgoing chairman of the Pension Protection Fund (PPF), starts our interview by paying tribute to Ros Altmann, the pensions minister. “Without her, there would be no PPF. She campaigned extremely hard for it to come into being. She is the perfect choice to be pensions minister. I have the utmost [...]
