Half of UK financial services staff want shift to flexible working October 19, 2020 Half of Brits working in the financial services sector want to shift to a more flexible working model after the coronavirus pandemic ends, a new survey has revealed. The outbreak of Covid-19 has sparked a major change in working habits, as stay-at-home orders have fuelled a sharp rise in home working. A survey by KPMG [...]
Banks not ready for negative interest rates, says Natwest chairman October 15, 2020 British banks are not ready to implement negative interest rates, the chairman of Natwest said today. “We’re not completely ready for it,” Howard Davies said during an interview. “There would be technical issues and many contractual issues.” The chairman said he was not in favour of negative rates being introduced, telling Bloomberg Radio there was [...]
Government paying test and trace consultants equivalent of £1.5m salary October 14, 2020 The UK government is paying some management consultants the equivalent of more than a million pounds a year to work on the coronavirus test and trace system that its own scientists have criticised. Some senior-ranking consultants at Boston Consulting Group (BCG) are being paid around £7,000 a day, Sky News reported. That would amount to [...]
Snakes and Ladders: Who is moving jobs in the City this week? October 14, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Despite the unnatural quiet that has replaced the fast-paced bustle of the Square Mile over the last few months, behind the scenes things are still moving. While the pandemic has [...]
UK’s £225bn professional services industry risks ‘catastrophic’ hit from Brexit October 14, 2020 Britain’s £225bn professional services industry has been ignored by the government and is under “catastrophic” threat of losing business to the EU post-Brexit, a parliamentary committee has warned. A House of Lords’ EU services subcommittee report published yesterday said the UK’s accountants, lawyers, recruiters, architects and advertisers are under risk of losing contracts and jobs [...]
BDO becomes largest auditor of listed UK firms October 13, 2020 Challenger firm BDO now audits the highest number of listed UK companies as attempts to reform the sector sees companies move away from the Big Four. BDO, the UK’s fifth-largest accounting firm by revenue, gained 36 listed clients in the 12 months to October, according to Adviser Rankings, which collects auditor data. It now audits [...]
Eddie Stobart drives logistics group GWSA back to profitability October 12, 2020 The holding group behind logistics firm Eddie Stobart today said it had swung back to profitability in the first half of the year as it cashed in on higher demand for transport services during the Covid-19 crisis. Green White Start Acquisitions (GWSA), which also controls iForce, The Pallet Network and The Logistics People, reported revenue [...]
Coronavirus recovery stalls as UK economy grows just 2.1 per cent in August October 9, 2020 The UK economy grew at just 2.1 per cent in August as the country’s economic recovery showed signs of stalling. Although the figure marked the fourth straight month of growth, it was considerably lower than had been expected. As a result, GDP remains 9.2 per cent lower than it was before the pandemic struck in [...]
More than 1,000 Deloitte consultants working on Test and Trace programme October 8, 2020 More than a thousand Deloitte consultants are reportedly working on the NHS Test and Trace programme, further highlighting the government’s reliance on the private sector through the pandemic. Department of Health documents released under a Freedom of Information request by Sky News reveal there are currently 1,114 consultants working on the scheme, equivalent to the [...]
London firms fear losing top talent over coronavirus salary cuts October 8, 2020 The vast majority of London firms are concerned about retaining their top talent as the pandemic forces many employees to take salary cuts. As the pandemic continues to weigh on business activity, over four in five London-based businesses are concerned about losing their top employees, according to new research by recruiter Robert Half. Of the [...]