Megadeath to megadeals as EY sees recovery in UK M&A activity in the third quarter despite Brexit uncertainty October 10, 2016 THE value of UK M&A in the third quarter increased from the previous quarter despite Brexit uncertainty, according to EY which predicts the end of the so-called megadeal. Data released today by EY shows that the overall value for UK M&A reached $78.3bn, up from $25.7bn in the previous quarter, driven largely by international deals. [...]
Businesses have reacted horribly to Amber Rudd’s visa crackdown October 4, 2016 Businesses have hit out at the government’s new plans to tighten visa rules for workers who come to the UK from outside the EU. Home secretary Amber Rudd told the Conservative Party Conference earlier today she is considering making it harder for UK businesses to recruit from overseas by introducing a new rigorous test to [...]
The number of new businesses in London keeps on rising October 4, 2016 The capital’s still the place to be for budding businesses, according to new figures from the Office for National Statistics (ONS). London has the largest number of VAT and/or PAYE-based businesses – 18.7 per cent of the UK total, as well as experiencing the largest growth – up 7.2 per cent between 2015 and 2016. Its [...]
Augmented reality startup’s Ambarish Mitra crowned UK entrepreneur of the year by EY October 4, 2016 The boss of London augmented reality startup Blippar was crowned "EY entrepreneur of the year UK 2016 overall winner" at an award ceremony last night. Blippar, best-known for creating jazzy, interactive magazine covers for titles such as ShortList and the Radio Times, is an app which lets users scan objects they are interested in to learn more about them. Read more: London augmented [...]
Why would anyone choose a career in private equity anymore? October 2, 2016 Fear of risk is changing private equity for the worse, MVision chief executive Mounir Guen tells Billy Bambrough "Why would a brilliant young person go into private equity anymore?” asks private equity veteran and boss of industry advisory firm MVision, Mounir Guen, known almost exclusively by the nickname Moose. “Why not become a tech entrepreneur and [...]
Passporting tops the Brexit wishlist for financial services firms October 2, 2016 Securing passporting rights is the main Brexit concern of the financial services sector, research out today has found. The study by professional services firm EY found that over two-thirds (68 per cent) of all policy wishlists financial services firms have made public following June's vote have made reference to maintaining passporting for goods and services. The proportion which are [...]
People still trust brick-and-mortar branches more than digital banks September 26, 2016 Digital banking has surged in popularity over the last few years, but research out today also shows many still won't trust a lender without a brick-and-mortar presence. Just less than half (48 per cent) of UK banking customers would not be comfortable sorting out their finances solely online or by mobile, while a third (33 [...]
Startups are swelling the ranks of UK businesses September 26, 2016 The number of VAT registered businesses in the UK has hit an all-time high of 2.1m, up four per cent from 2m last year. The rise has been driven by the thriving national startup economy, according to accountancy group UHY Hacker Young. The number of businesses in the UK per capita has meanwhile recovered to [...]
City Moves for 23 September 2016 | Who’s switching jobs September 23, 2016 London Market Group London Market Group has appointed Chris Beazley as its first permanent CEO. Chris will take over from Ben Reid, who was seconded from EY as interim CEO. Ben will return to EY where he has been promoted to become an executive director. Chris Beazley is currently head of strategy and global clients for MS [...]
Return on equity for the top global investment banks is falling. Here’s how they’re dealing with it September 23, 2016 Delegates from firms making their way to Geneva next week for the 2016 financial services Sibos conference will undoubtedly have a lot on their minds. Over the past few years the industry has been facing challenges on many fronts: continued and increasing structural costs, fast-changing regulatory reform, conduct issues and capital requirements, to name but [...]