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 [...]
Consumer spending growth heading for four-year low as wages stagnate March 20, 2017 Real earnings growth is forecast to be up just 0.1 per cent in 2017, slowing sharply from 1.8 per cent in 2016. As a consequence consumer spending will rise by only 1.7 per cent, its weakest rate since 2013, according to the EY ITEM Club. Last year saw a 12-year high of 3.1 per cent [...]
Mergermarket appoints EY advisers to sell its life sciences arm for £20m March 19, 2017 Data giant Mergermarket Group is mulling a £20m sale of its life sciences arm Infinata. The group, which publishes financial news website Dealreporter and runs data services like Debtwire, has appointed EY to advise on the deal, the Sunday Times reported. The sale is expected to conclude within weeks. Private equity giant BC Partners, which owns [...]
It’s official: The 25 millionth truck just went through the Eurotunnel March 17, 2017 It won't be long before one truck for every two Britons will have passed under the English Channel, figures from the Eurotunnel indicated today. Eurotunnel said at 3am today the 25 millionth lorry used the Le Shuttle Freight service since it commenced in July 1994. Read more: Eurotunnel smashes traffic record as it posts revenue growth The [...]
City Moves – who’s switching jobs at EY, Moneycorp, Seedrs and Egress Software Technologies March 15, 2017 Today's City Moves cover financial services, foreign exchange, technology and venture funding. Take a look at these movers and shakers: EY EY has appointed Dan Cooper to the role of UK financial services banking and capital markets (BCM) leader. He will take over the role in April from Robert Cubbage, who is retiring. Dan started [...]