Dentists forced to take a bite out of savings as credit stays tight October 27, 2014 Dentists are taking risks by loaning more of their own money to their practices as the sector suffers from a lack of credit availability. The amount of money loaned by directors of dental practices to their own firms was £23.8m in the past year up from £13.5m a year earlier, according to figures published today [...]
Competition and sterling hit profit margins October 27, 2014 THE NUMBER of profit warnings issued by companies increased over the summer as margins were squeezed by greater competition, rising input prices, and a strong pound. UK quoted companies issued 69 profit warnings in the third quarter of 2014 – 13 more than the same quarter last year, a report released yesterday by accountants EY [...]
Tesco and Next: Two of the six retailers that contributed to the highest number of profit warnings since 2008 October 26, 2014 The number of UK-listed firms issuing profit warnings has risen to its highest summer level since 2008, according to a report by consultancy firm EY. It said 69 warnings were issued by firms during the third quarter of 2014 – a 56 per cent increase from the equivalent period in 2013. Profit warnings [...]
City Moves for 24 October 2014 | Who’s switching jobs October 23, 2014 Johnson & Johnson The health and beauty products maker has appointed Yana Ignatova as head of marketing for northern Europe. Prior to joining the firm, Ignatova spent 17 years at Proctor & Gamble, where she held a senior marketing position. Aviva Investors Charlie Diebel has been appointed head of rates strategy by the asset management [...]
British economic expansion to slow as general election nears October 20, 2014 THE UK’s economic growth will slow next year but should remain at strong levels, a leading group of economists said today. In the second quarter of 2014 the UK had the fastest growing economy of any G7 nation, growing 3.2 per cent year-on-year. However, uncertainty surrounding May’s general election and the possibility of a referendum [...]
City Moves for 17 October 2014 | Who’s switching jobs October 16, 2014 Savills The real estate advisory firm has appointed Jim Wickens as a director in its London-based building and project consultancy team. He has more than 20 years’ experience, and joins from Cluttons. Wickens has also previously held roles at Broadgate Estates, Drivers Jonas and Bucknall Austin. Aviva Investors The asset manager has announced two appointments [...]
Weak inflation knocks sterling to 11-month low October 14, 2014 THE POUND fell sharply yesterday as UK inflation for September came in below expectations, reducing the chance of a 2014 interest rate hike. Prices rose at their slowest pace for five years, according to the Office for National Statistics (ONS), prompting sterling to sink last night to an 11-month low of $1.5905 to the pound. [...]
Carney flies to Washington for bank war-game October 13, 2014 THE BANK of England yesterday sent almost its entire top tier of executives to Washington to test out a fictional scenario of a banking collapse with their American counterparts. The war-game was designed to test communications and planning between the two nations, so that they would be better prepared for any real crash. Britain and the [...]
Entrepreneurs complain of a lack of funds for investment October 12, 2014 ENTREPRENEURS in the UK are being held back by a lack of credit and investment availability, survey data released this morning shows. Half of the entrepreneurs surveyed by accountancy firm EY cited access to finance as the main barrier to setting up a new business. In stark contrast, market conditions were considered bad by only [...]
Basking in glory: Why UK entrepreneurs need award ceremonies October 12, 2014 Entrepreneurs have no lack of recognition in popular culture today: there are movies about icons like Steve Jobs and Mark Zuckerberg, and Lord Sugar has now uttered “You’re fired” over 120 times on our TV screens. Politicians, meanwhile, grab any opportunity to sing business owners’ praises – with David Cameron describing them as “national heroes” [...]