Why slashed interest rates could provide another M&A boost after Brexit August 5, 2016 UK deal activity could be boosted by the Bank of England’s interest rates cut, mergers and acquisitions (M&A) experts have suggested. As well as cutting interest rates from 0.5 to 0.25 per cent on Thursday, the Bank’s monetary policy committee (MPC) also unleashed an extension of quantitative easing which could pump an extra £170bn of newly-printed [...]
David McCourt explains why micro-working is vital, and why he’s so disappointed by Trump and Clinton August 1, 2016 Do you mind always having to up sticks?” I ask David McCourt, founder, chairman and chief executive of telecoms and media investment firm Granahan McCourt, in regard to his likely move to London later this year. “No,” he replies. “I was only in the house my kids grew up in for 14 days last year; I’m [...]
Brexit brings dark clouds to financial services, but there are some patches of sunshine ahead August 1, 2016 June's Brexit vote may bring doom and gloom to the economy and, by extension, the financial services sector, according to research out today. EY's ITEM Club outlook for financial services has predicted lending to businesses will fall by nearly two per cent in 2017 and a further one per cent in 2018, thanks to a bleaker economic outlook following 23 [...]
Banks need to act swiftly to avoid Brexit problems, warns report August 1, 2016 The banking sector needs to think quick to swerve some of the more negative effects of June's Brexit vote, a report out today suggests. The study by the Boston Consulting Group (BCG) warns that, not only will the worsened economic outlook take its toll on banking sector performance, banks need to be preparing for action now, [...]
HS2 should be abandoned, says The TaxPayers’ Alliance July 29, 2016 HS2 is an expensive vanity project that must be scrapped, according to think tank The TaxPayers' Alliance (TPA). The think tank said that the project costs are rising, likely to hit £90bn, with a timely delivery unlikely. Jonathan Isaby, chief executive of the TaxPayers' Alliance, said: "HS2 is a wasteful vanity project which is unlikely [...]
Investment banks have taken a wait and see approach to Brexit July 28, 2016 London's investment banks are continuing to take a wait and see approach to the UK’s decision to quit the European Union more than one month after the vote. Of the 20 biggest investment banks in the UK, 40 per cent have so far expressed a view on the vote. Half of those institutions that have [...]
Private equity boss predicts autumn M&A activity boost for City of London July 27, 2016 The chief executive of private equity firm 3i expects the City to experience a pick-up in mergers and acquisitions (M&A) activity after the summer. The company’s share price was up more than two per cent to 624p on Wednesday after it reported a “solid start” to the 2016/17 year in the three months to 30 [...]
City Moves for 25 July 2016 | Who’s switching jobs July 25, 2016 Towergate Insurance Towergate Insurance has appointed Neil Pearce as managing director of Towergate London Market. Neil will join Towergate in September this year and will report directly to group chief executive David Ross. He joins Towergate from RKH Specialty where he was executive director responsible for the UK and international liability team. He was previously [...]
Profit warnings creep up to highest level since recession July 24, 2016 UK-listed firms posted the highest number of profit warnings in any second quarter since the financial crisis, a new report from accountants EY has found. A total of 66 firms told the markets they would fall short of earnings' expectations in the three months to the end of June, taking to total number for the [...]
Customers are flocking towards new banking tech like apps and contactless payments according to a BBA report July 22, 2016 Consumers are flocking towards new banking technology, according to a new report, with mobile banking apps now being used more than 7,500 times a minute. Figures published by the British Bankers Association today show a dramatic rise in account holders using their mobiles to access their money. Mobile apps are now used more almost three times more commonly [...]