City A.M.’s journalists take a look at what 2016 has in store for the world of finance and business January 4, 2016 BANKING Strengthening outlook despite more regulatory bumps ahead Bank of England governor Mark Carney may have declared the banking crisis officially over at the end of last year, but 2016 looks to be far from a challenge-free year for Britain’s biggest banks. To be sure, all seven of the UK’s leading lenders passed the Bank’s [...]
Barclays reportedly reviewing allowance practices in light of EU banker bonus cap January 3, 2016 Barclays is reportedly reviewing its compensation programme to make sure that bonus and “allowance” payments comply with increasingly strict European Union regulations. The EU’s bonus cap, intended to discourage bankers from taking excessive risks, limits annual bonuses to 100 per cent of an employee’s salary, or 200 per cent with shareholders’ approval. To circumvent the [...]
BCC: Britain risks plunging into “new economic storm” if politicians are complacent January 1, 2016 One of the UK's leading business groups today said clouds are gathering on the horizon, and they risk pushing Britain into "a new economic storm", as it warned politicians do not have room for complacency. In the BCC's new year's message, chief economist John Longworth said businesses and consumers will be left exposed when the Bank of England starts [...]
The biggest gaffes of 2015: Boris Johnson Vs child, Jeremy Clarkson’s clanger, fat fingers and s*** trains. December 31, 2015 The business boo boos, fantastic fubars and ghastly gaffes that made us groan and giggle this year were in some cases a little more serious than merely misplaced word or comment. And don't even get us started on VW's emissions cheating. Here are the gaffes that stuck with us in 2015. 1. Security snafus There was [...]
Institute of Directors: Company profits at risk from an interest rate rise by the Bank of England December 31, 2015 One of Britain's biggest business groups has warned company profits peaked in 2015, and they'll be crunched when the Bank of England eventually raises borrowing costs for the first time in more than six years. The Institute of Directors (IoD) said the bank's rate-setters has exercised caution thus far, but they'll have "no choice" but [...]
New Year Honours 2016: Natalie Massenet, Carolyn McCall, Alan Yarrow and the men and women in business awarded Damehoods, Knighthoods, OBEs and CBEs December 30, 2015 Natalie Massenet, Carolyn McCall and Alan Yarrow are among the business leaders to make 2016's New Year honour list this year. Massenet, the entrepreneur who founded Net-a-Porter and McCall, chief executive of EasyJet, were made Dames, while Lord Mayor of London Yarrow was knighted. Outgoing Nationwide chief executive Graham Beale was awarded an CBE, as was [...]
CIPD: The Bank of England and the Office for Budget Responsibility are wrong about wage growth in 2016 December 30, 2015 Wage growth next year won't be as optimistic as the Bank of England and Office for Budget Responsibility (OBR) anticipate, the Chartered Institute for Personnel and Development (CIPD) has warned. Despite the introduction of the National Living Wage, wage growth will remain at two per cent in 2016, the organisation said – much lower than [...]
KPMG: UK tax changes will slow down buy-to-let market December 29, 2015 The buy-to-let market will slow down next year due to a series of tax changes, accountancy giant KPMG has said. The changes, including a three per cent hike to stamp duty on buy-to-let homes, to be introduced in April, will put off buyers. KPMG’s Dermot Kallinan said: “It will be interesting to see whether buy-to-let investors opt to [...]
UK floods: Hundreds forced to flee their homes in West Yorkshire and Lancashire as Met Office issues red weather warnings December 27, 2015 Hundreds of people have been forced to leave their homes in Yorkshire and Lancashire as the Met Office issues two red weather warnings for the severe floods that have struck northern England. Towns across the region have been flooded following torrential rains, and severe flood warnings have been issued even in the city of Leeds. [...]
UK floods in pictures: Mytholmroyd, Hebden Bridge, West Bradford, Summerseat and other areas in Lancashire and Yorkshire affected December 26, 2015 People have been evacuated from their homes in some areas of Yorkshire and Lancashire on Boxing Day, after Northern England was struck by heavy rain. The Met Office issued their highest severe weather warning for the area, advising those present to "take action" and others not to travel to affected regions. The River Calder, River Ribble and [...]