Borrowing reached an 11-year high before the EU referendum June 29, 2016 Lending to British households grew at its fastest pace in a decade in the run up to the EU referendum, new figures from the Bank of England have shown. Consumer credit – a measure of loans and credit card debt, but not mortgages – grew by 9.9 per cent in the year to May, the fastest [...]
IP-no, not yet: Businesses may be putting flotation plans on hold after Brexit vote June 27, 2016 Companies are expected to put flotation plans on hold after the UK voted for Brexit, according to a report out today. Accountancy firm EY expects activity on London’s initial public offerings (IPO) market to come to a near-standstill after the UK voted to leave the EU. Read more: What Brexit means for the UK's IPO [...]
China and Britain’s financiers take a break from Brexit in Canary Wharf’s Dragon Boat Festival June 26, 2016 Investors from London to China have been busy this weekend following the economic aftermath of Brexit, but Chinese diplomats and business figures have taken Sunday off to do battle with City high-rollers in Canary Wharf's annual Dragon Boat Festival. Over 40 teams including staff from auditors EY and PwC, City law firm DKLM, the Chinese Embassy, the Hong Kong Society [...]
What Brexit means for the UK’s IPO market June 24, 2016 Activity on London’s flotation market is expected to “largely cease” in the next year following the Brexit vote, according to an initial public offering (IPO) expert. The IPO market in the UK and beyond has already slowed so far this year in the run-up to yesterday’s EU referendum. And accountancy firms PwC and EY both [...]
What Brexit means for UK M&A: Experts expect further drop in activity June 24, 2016 Deal activity in the UK is expected to fall further in the second half of 2016 following the Brexit vote. Mergers and acquisitions (M&A) activity has already slowed this year following a record 2015. Data released yesterday from MergerMarket and Dealogic showed that UK-targeted activity slowed in the first half of the year, and more [...]
City Moves for 23 June 2016 | Who’s switching jobs June 23, 2016 CMS Anna Burchner has been promoted to a partner in law firm CMS' London tax team. Anna has been a senior associate in the tax team since 2005 and is noted for her expertise in both international and domestic tax, particularly funds and financial services related work. She has significant experience on the tax structuring of high-value, multi-jurisdictional [...]
Sir James Dyson is wrong: Voting Leave offers the illusion of control – but the certainty of vastly reduced influence June 21, 2016 Sir James Dyson recently restated his allegiance to the Leave campaign, calling the many uncertainties associated with Brexit “cobblers”. Outdated terminology aside, a declaration for Leave from an entrepreneur of Sir James’s stature could influence undecided voters. His position is not new. Dyson’s support for Leave goes back to 2014, when he was battling German manufacturing giants [...]
Let’s make London the tech capital of the world June 20, 2016 Today marks the start of London Technology Week, a fantastic opportunity for thousands of tech experts from all over the world to descend on the capital to learn and share new ideas and shine a light on this hugely important sector of our economy. London is an established global leader in business services and international [...]
How London can take on San Francisco to become the true global hub for the tech and digital sectors June 20, 2016 Today marks the start of London Technology Week, a fantastic opportunity for thousands of tech experts from all over the world to descend on the capital to learn and share new ideas, and to shine a light on this hugely important sector of our economy. London is an established global leader in business services and [...]
Fintech helps to push foreign direct investment in UK financial services sector to highest level since 2006 June 13, 2016 Foreign investors can't get enough of the UK's financial services market, with a report out today discovering that fintech has helped push foreign direct investment (FDI) to its highest level since 2006. The research by professional services firm EY discovered that, in 2015, there were 94 FDI projects in the UK's financial services sector, which in turn generated 8,138 [...]