FTSE 100 Live: Stocks to tumble as interest rate decision looms; Oil falls as ‘economic catastrophe’ avoided
Legal & General appoints EY senior partner Jeff Davies as new chief financial officer December 22, 2016 Insurance giant Legal & General (L&G) has appointed EY senior partner Jeff Davies as group chief financial officer. Davies will take up the role after the firm's 2016 preliminary results announcement next spring and current finance boss Mark Gregory will step down at the same time. Gregory will remain an employee of the company until [...]
Euro clearing battle heats up as report warns EU against “protectionist” policy to move business away from London December 18, 2016 The battle over euro-denominated clearing is heating up amid apparent attempts to move the business away from London. An Intercontinental Exchange (ICE) report, circulated this month to EU member states, has warned that forcing the clearing of euro derivatives away from the UK could lead to a “significant increase” in costs for European banks. The [...]
The UK is becoming less attractive for foreign investment after Brexit December 18, 2016 The country's position as the most attractive place in Europe for foreign investors is at risk in the long term without quick action from the government to secure confidence. The EY Attractiveness Survey, which measures investor sentiment among the world's top business leaders, found short-term confidence in the UK as a place to invest is holding [...]
Growth in revenues is good but it’s even better if you look more carefully, says KPMG boss December 16, 2016 KPMG said its annual results proved it had moved beyond simply being a Big Four beancounter as it joined competitors in smashing through the £2bn revenue barrier. The UK arm, based in Canary Wharf, is the last to announce its annual return, reporting performance for the 12 months to the end of September. EY's UK business reported revenues [...]
Political shocks have been a buy signal in 2016 – why not in 2017 too? December 12, 2016 It's that time of the year for financial journalists: we are being inundated with lengthy outlook reports for the coming year. My inbox is littered with ominous warnings about how 2017 will see more uncertainty, and the overwhelming theme for the year is: it’s the politics, stupid. Given the rise in populist voting in 2016, which manifested [...]
The Memo proves investors still like media startups, landing six-digit funding December 12, 2016 London-based media startup The Memo has landed a new round of funding for international expansion, proving investor appetite for media despite the well-documented struggles of established print media. The more than quarter of a million pounds in cash comes as the 18-month-old online tech publication turned a profit for the first time. Investors ploughing in £280,000 [...]
London still top destination for future hedgies December 8, 2016 London is set to remain a hedge fund hotspot in coming years after 21 of 50 up-and-coming hedge fund managers in Europe were found to be based in the UK capital. The research – from the Hedge Fund Journal (HFJ) in partnership with accountancy giant EY – features fresh names in the sector, most of [...]
Revealed: The best places to work in the UK December 7, 2016 Businesses can breath a sigh of relief – the trend of trying to emulate Google's particular brand of work environment with bean bags, slides, hot desking and food freebies might just be over. The tech company has slipped out of the top 10 best places to work list for the first time, coming 13th in the annual ranking by [...]
KPMG boss Simon Collins won’t be seeking re-election after five year tenure December 1, 2016 KPMG's UK boss will step down in March after five years at the helm of the accountancy giant. Simon Collins told fellow partners of his plans on Thursday and is expected to put his hat in the ring to step up and lead the global network of the firm, according to reports by Sky News. Read more: [...]
London will reinvent itself again post-Brexit if it remains flexible and open to the world November 29, 2016 "We don't plan London very much. Nobody planned to have the euro-dollar market, for example. It rose because clever people were very quick at responding to market signals.” Speaking at a debate at the Museum of London on the future of the capital, hosted by Eversheds, The Independent’s Hamish McRae set out the optimistic case for the [...]