Channel Tunnel worth £91.4bn in UK/EU trade, as analysts allay Brexit fears November 13, 2016 The Channel Tunnel is responsible for £91.4bn in imports and exports each year, as analysts predict that this trade link will continue to benefit the UK economy, regardless of Brexit. In a report entitled Economic Footprint of the Channel Tunnel, Ernst and Young researched the total economic value of the 22-year-old Tunnel, and found that it [...]
Editor’s notes: Does Trump’s victory provide opportunities for the UK? Maybe November 10, 2016 One benefit of Trump’s shock victory is that it makes the Brexit vote look like a council by-election in comparison. The world is now used to the idea that over the next two years the UK will slip the surly bonds of Brussels, and although the full details of that plan aren’t fully understood it’s the [...]
Some of the EU’s largest companies are worried that a hard Brexit will cost them dear November 8, 2016 A hard Brexit could hit some of Europe's largest companies by increasing their cost of funding. A report by accountants EY revealed that the likes of Airbus and Volkswagen are worried about the fallout of Britain's exit from the EU, according to reports by Sky News. Read more: A "hard Brexit" could undermine the very things driving [...]
UK fintech pushes for its very own “Big Bang” moment November 1, 2016 The UK’s world leading fintech industry will this week meet with top government officials seeking to spark another “Big Bang” moment, the first of which kicked off the making of the City as a global financial powerhouse. Leaders in the industry will head to Westminster where several meetings with treasury and trade officials are on [...]
Profit warnings edge up with some firms pinning blame on Brexit October 30, 2016 The number of companies that issued profit warnings rose slightly in the third quarter of 2016, with the UK’s June vote to leave the European Union cited by almost a third as a factor in undershooting expectations. Companies listed in the UK issued 68 profit warnings in the quarter, according to a report by accountancy [...]
Fears for London IPO market as Misys and O2 pull 2016 float plans October 27, 2016 London’s stuttering initial public offering (IPO) market suffered more blows today as Misys pulled plans for a float and Telefonica said late on Wednesday it would not be listing O2 this year. City sources fear that, with investors spooked by Brexit uncertainty, it appears likely that other large deals will be abandoned or pushed back. Tech [...]
City Moves for 27 October 2016 | Who’s switching jobs October 27, 2016 JLL Richard Howling is set to become new chief operating officer following Mark Stupples’ decision to try something different after over three decades at JLL UK. After 32 years within the business, and having successfully managed the merger and integration of King Sturge with JLL UK, Mark will be leaving at the end of 2016 [...]
City Moves for 26 October 2016 | Who’s switching jobs October 26, 2016 EY EY has appointed Darra Singh to lead its UK government and public sector practice. EY’s UK government and public sector team advises local authorities, government departments, the NHS and other public bodies on how they can improve their services and deliver greater value for money. Darra has led EY’s Local and Public Services team, which focuses on [...]
London’s fintech status to get a global boost with a government-backed showcase October 25, 2016 The best and brightest of London's fintech scene will be given centre stage by the government next spring, as the Treasury today revealed plans for an annual fintech conference. Set to launch next April, the exhibition will give UK fintech firms the chance to present their business to international investors. "Backing Britain's world leading financial services industry [...]
City Moves for 25 October 2016 | Who’s switching jobs October 25, 2016 Travelodge Hotel chain Travelodge has appointed Hannah Thomson to the position of people director. She will take up her new role from 1 November. Hannah will report directly to the chief executive Peter Gowers and joins the Travelodge operating board. Hannah began her career with the John Lewis Partnership businesses, John Lewis and Waitrose, where she held a range of roles in [...]