Premier League economic impact: Competition contributed £3.4bn to UK GDP according to EY report November 18, 2015 Premier League football kicked £6.2bn into the UK economy in a single season, according to a new study from Ernst & Young (EY). In a study commissioned by the league, EY estimate that English football's top tier division contributed £3.4bn to UK GDP in the 2013/14 season, paid £2.4bn in taxes to the Exchequer and [...]
Britain needs to concentrate on high-growth markets instead of emerging economies – EY November 9, 2015 Britain should concentrate less on the emerging economies and more on high-growth markets if it wants to increase its share of global exports, a report by financial services company EY says today. Launched to coincide with United Kingdom Trade & Investment’s (UKTI) export week, EY Item Club’s analysis draws research undertaken over the past three [...]
Former directors at City Link deny failure to inform of hundreds of job losses in court November 5, 2015 **Waiting on a comment from EY by 5. **Link to Express & Star story: http://www.expressandstar.com/business/city-news/2015/11/05/city-link-bosses-failed-to-tell-ministers-of-redundancies/ Short hed: City Link denies criminal charge in trial City Link's three former directors are denying that they failed to inform officials of hundreds of job losses in the first day of a two-day trial. The collapsed parcel delivery company, which [...]
Good news for commuters (at last): Rail fares could rise by the second-lowest level in 20 years November 5, 2015 Next year could be the first time wage growth outpaces rail fares since 2002, if forecasts for retail price index (RPI) are on the mark. Economists spoken to by City A.M. tipped the inflation measure to be around one per cent for July – the month which regulated rail fares are set by. That [...]
Islamic finance global market soars 12 per cent in last year to £1.3trn November 2, 2015 The global market for Islamic finance has soared by 12 per cent over the last 12 months to $2thn (£1.3trn), according to a report by TheCityUK. The alternative finance industry, which eschews traditional interest on loans, is predicted to hit $3trn by 2018. This is down to growing demand in emerging markets. Chris Cummings, chief [...]
M&A boom set to continue with UK companies looking to China, the US and Eurozone countries for mergers and acquisitions November 2, 2015 The recent wave of mergers and acquisitions looks set to continue, as UK companies capitalise on the economic recovery and set their sights on acquiring foreign companies. Moving away from slowing emerging markets, UK companies are turning to developed countries to shop for acquisitions in an attempt to stimulate growth, and tackle the challenge of [...]
City Moves for 27 October 2015 | Who’s switching jobs October 26, 2015 LOMBARD ODIER Duncan MacIntyre has been appointed chief executive of the banking firm’s private client business in the UK. He joins from Coutts & Co, where he founded and was global head of its private office. MacIntyre has also worked as a senior private banker at JP Morgan, which he joined from Robert Fleming & [...]
City Moves for 23 October 2015 | Who’s switching jobs October 22, 2015 SQUIRE PATTON BOGGS The law firm has appointed Dale Huxford as of counsel in its corporate practice in London. He joins from BroadTech Global. Huxford was also formerly a member of the emerging companies group at Orrick in London, where he provided legal services to early and growthstage technology companies. STRAWBERRY STAR The property company [...]
Are the CMA’s provisional recommendations enough to increase competition in the banking sector? October 22, 2015 Omar Ali, head of UK financial services at EY, says Yes The CMA’s provisional remedies will encourage competition in a market that’s already much more competitive than it was. We now have several credible challenger banks, a burgeoning fintech sector and a switching service better than most markets. But the CMA is right to [...]
Prime Minister David Cameron appoints Alibaba’s Jack Ma to his Business Advisory Group October 19, 2015 Alibaba founder and executive chairman Jack Ma has been appointed to Prime Minister David Cameron's Business Advisory Group (BAG). Number 10 announced the appointment today, ahead of a four-day state visit by China's President Xi Jingping. Commenting on the appointment today, a Downing Street spokeswoman said: "This is about appointing someone who has real business [...]