UK trade balance widens again a year after the Brexit vote August 10, 2017 Britain’s trade deficit with the rest of the world went up again in June, as the amount of goods and services being imported to the country grew. The UK’s total trade deficit widened by £2bn to £4.6bn, according to the Office for National Statistics. This marks the widest gap since September last year. Read more: [...]
HS2: Carillion share price leaps as it bags contracts to build two sections of HS2, transport secretary Chris Grayling says July 17, 2017 The companies awarded £6.6bn of contracts to build the first stage of the UK’s largest-ever infrastructure project include Skanska, Balfour Beatty, Sir Robert McAlpine – and troubled construction giant Carillion. Transport secretary Chris Grayling named the companies appointed to build the southern, central and northern sections of the line this morning. When it is built, [...]
BT’s Openreach checks £1.5bn Carillion deal July 17, 2017 Openreach, the infrastructure arm of BT, has launched a “forensic investigation” into its landmark £1.5bn contract with crisis-hit Carillion after the construction firm had over half its value wiped out in under a week. The telecoms giant is examining how Carillion’s troubles could affect the delivery of much-needed upgrades to Britain’s internet infrastructure, sources told City [...]
Luck of the Irish? Dublin has been the biggest Brexit winner (so far) in financial services July 10, 2017 Dublin has been the biggest Brexit winner in financial services so far, a new report today shows. Just over one year after the EU referendum, 59 out of 222 financial services companies tracked by EY, 27 per cent, have said they are moving staff and operations out of the UK or are reviewing their options. [...]
British manufacturing order books at highest in almost 30 years as exports boost demand June 22, 2017 Britain’s manufacturers are basking in the summer sun as they report the strongest order books since 1988, according to a closely watched survey of UK industry. More than a quarter of manufacturers said total orders were above normal, with only 12 per cent below par, the Confederation of British Industry (CBI) reported. Food, drink, tobacco [...]
Banks to be forced to reveal all cyber security breaches to the European Central Bank June 19, 2017 All banks regulated by the European Central Bank (ECB) will be forced to reveal all major cyber security breaches, according to one of the supervisor’s bosses. Starting this summer, banks directly supervised by the ECB will have to “report all significant cyber incidents”, said Sabine Lautenschlaeger, a member of the ECB’s executive board. At a [...]
What is euro clearing? Why is it so important to the City of London? All your clearing questions cleared up June 14, 2017 Euro clearing has hit the headlines in recent days, but what is it and why is it so important to the City of London? We’ve answered all your questions… Read more: London’s euro clearing market at risk as Brussels sets out rules shake-up What is euro clearing? Clearing is the process through which financial transactions [...]
Job cuts? No, artificial intelligence and automation will usher in a new wave of roles, IT bosses say June 12, 2017 Widespread job losses will not be a natural consequence of greater use of artificial intelligence (AI) by UK businesses, research released today by telecoms giant BT suggested. In fact, a third of those polled by BT felt AI and automation said the so-called “Fourth Industrial Revolution”, would have the opposite effect: to create more jobs. [...]
The UK is the third most attractive destination for M&A deals, according to EY May 8, 2017 Over half of UK companies are expected to pursue mergers and acquisitions (M&A) in the next 12 months, up three per cent from October 2016. According to EY’s 16th Global Capital Confidence Barometer (CCB16), almost a quarter of respondents are putting greater significance on growth that is not organic, especially joint ventures and alliances. Six [...]
Mergermarket rebrand fuels speculation of possible sale April 23, 2017 Financial information giant Mergermarket will rebrand this summer, raising speculation among City figures that the company is about to be sold. Mergermarket Group, which is owned by private equity firm BC Partners, provides specialised market news and analysis to a number of top City investment banks, hedge funds and law firms. Read more: Mergermarket continues [...]