Inflation: How far will UK consumer prices rise this year? February 14, 2017 Inflation has already hit a 31-month high, but economists are almost universally predicted a steep rise in consumer prices over the coming year. The Bank of England (BoE) expects consumer prices to rise to 2.7 per cent by the end of this year, but other economists think that might be at the more conservative end [...]
“Really, is that it?” – reactions to the government’s housing white paper February 7, 2017 In the year that the US President signed an executive order to build a wall, UK politicians got together to write a housing paper that was lacking in concrete ideas. There were some general indicators of where the government is going on housing, however. Here's how the property industry reacted: On the lack of content [...]
British smokers are switching to e-cigarettes faster than anyone else in Europe February 6, 2017 Britons are switching from cigarettes to electronic alternatives faster than anyone else in Europe. Since 2013, one person has switched from traditional smoking to so-called vaping every four minutes in the UK, according to new research from EY. And now more than 2m British people vape, a total of 4.2 per cent of adults. By contrast, the [...]
City Moves for 26 January 2017 – who’s switching jobs? January 26, 2017 Today's City Moves cover a challenger bank, one of the best-known social media management platforms and a law firm. Take a look at these movers and shakers: Hampshire Trust Bank Chris Forsyth has been appointed as chief operating officer at Hampshire Trust Bank. In his executive role at the specialist challenger bank, which focuses on [...]
London must lose clearing crown after hard Brexit, warns BlackRock boss January 24, 2017 London will not be able to play a central role in the core functions of European financial markets like clearing in the event of a so-called hard Brexit, the vice chairman of the world’s largest asset manager has warned. BlackRock's Philipp Hildebrand suggested at the European Financial Forum that the UK cannot “have the cake and [...]
Brace for “hard rebalancing” of UK economy in 2017 January 23, 2017 The fall in the pound will result in a “significant readjustment” of the UK economy away from consumer spending and towards exports, regardless of the results of the Brexit negotiations. Economists at Ernest & Young says UK exports will increase by as much as 3.3 per cent this year, and 5.2 per cent in 2018, [...]
Weak retail sales in December have pushed sterling below $1.23 January 20, 2017 The pound plummeted today after retail sales figures were much weaker than analysts expected. Sterling fell 0.47 per cent to 1.2284 against the US dollar. Sales in December fell by 1.9 per cent month-on-month – the largest monthly fall since May 2011 – which was considerably more than the 0.1 per cent drop analysts predicted, Martin Beck, senior economic advisor at EY said. [...]
Comparethemarket.com owner pushes stock market float back to end of 2017 January 19, 2017 The owner of price comparison website Comparethemarket.com has pushed back its plans for a £2bn stock market float, City A.M. has learned. BGL Group appointed JP Morgan and Morgan Stanley to advise on its initial public offering (IPO) last summer, and was expected to list early this year. Read more: London set for biggest IPO in [...]
Lloyds Banking Group takes the top spot on Stonewall’s top 100 LGBT employers as banking and legal dominate the list January 19, 2017 Lloyds Banking Group has taken the top spot of Stonewall's top 100 LGBT employers list. Banking and legal dominated the list of the charity's most inclusive employers. Lloyds, which came second to MI5 last year, launched a new colleague volunteering programme and formed official partnership with lesbian, gay, bi and trans (LGBT) charities. Law firm [...]
Saga picks KPMG as its new auditor, replacing EY after a 10-year relationship January 17, 2017 Saga has ditched Ernst & Young (EY) as auditors in favour of KPMG, the company announced this morning. EY has been the FTSE 250 firm's group auditor since September 2014, having previously been appointed auditor across the Saga's principal trading subsidiaries in 2007. Read more: Over 50 per cent growth to Saga profits Under audit directives, listed [...]