Bank of England stress tests are getting tougher – but do they still add value? December 1, 2016 The Bank of England 2016 stress test was the toughest to date, with a more severe scenario which incorporated a combination of both a UK and global recession. Combined with a higher pass mark, this created challenges for several institutions. All of the banks started the exercise in more robust shape with a lower risk [...]
Meet Masthaven: The latest challenger bank on the scene November 28, 2016 Masthaven has become the latest challenger bank on the scene, as it officially opens for business today. The bank was initially awarded its retail banking licence in April and has spent the time between then and now strengthening its team and developing its technology platform and product offering. At present, the challenger offers a flexible [...]
Sky is having a Black Friday sale and it includes a free TV, laptop or Xbox One November 24, 2016 Black Friday might be a US thing, but that doesn't mean some of the biggest British brands aren't getting involved. And many of them aren't even retailers. Step forward, Sky, which has launched its own Black Friday shop, with deals on TV bundles and broadband. And you could end up with a free TV. The [...]
The National Living Wage increase fell short of expectations, moving up only 30p to £7.50 in April 2017 November 23, 2016 The National Living Wage fell short of forecasted expectations. The rate will rise 30p to £7.50 in April 2017, but experts predicted it would rise to £7.60. Chancellor Philip Hammond announced the four per cent increase to wages for over-25s in his Autumn Statement Wednesday. This equals an increase of £500 a year to over a million full-time workers, Hammond said. [...]
Here’s what UK tech thinks of the £400m promised for VC startup investment November 23, 2016 Startups are set for a boost from the chancellor's Autumn Statement, as Philip Hammond announced plans to plough £400m into venture capital. The funds will come via the British Business Bank and it's expected to unlock as much as £1bn for startups itching to scale up as it will encourage private investment. Of particular focus will [...]
Autumn Statement 2016: Here’s how analysts have reacted to Philip Hammond’s speech November 23, 2016 Here's how analysts have reacted to chancellor Philip Hammond's first – and last – Autumn Statement. National Living Wage hike Guy Stallard, director at KPMG, said: Today’s announcement will see a significant number of workers aged 25 and above get a pay rise of 30p an hour to £7.50 from next April. This may seem [...]
Savers will be offered new government-backed investment bond next year November 23, 2016 Savers will be offered a new government backed investment bond at the next Budget, the chancellor said today. The three-year bond will offer a 2.2 per cent interest rate on deposits of up to £3,000, and will be available through NS&I. It will be open to those aged 16 and over, available for 12 months from spring [...]
Salary sacrifice schemes hit in Hammond’s first Autumn Statement November 23, 2016 Employee salary sacrifice schemes such as gym memberships will no longer be tax-free, the chancellor said today. Philip Hammond said in his Autumn Statement that certain benefits employees enjoy tax-free at the moment will no longer be exempt. The Treasury said that the tax and employer National Insurance advantages of salary sacrifice schemes will be [...]
Eh? Rolls-Royce and Game are among the 25 best UK companies to work for. Supposedly. November 23, 2016 An engineering giant which has issued a string of profit warnings, two retailers which recently came out of administration and a bank which was the centre of a major scandal this year are among UK employees' 25 favourite companies to work for, according to new research. Rolls-Royce came top of jobsite Indeed's Top Employers in Britain list. The [...]
British American Tobacco says a minimum excise tax in the Autumn Statement would only fuel the black market November 21, 2016 UK smokers face a triple whammy in 2017 ahead of Philip Hammond's Autumn Statement, a British American Tobacco spokesperson said. With a duty escalator expected and more limitations to come from the EU's tobacco products directive, BAT said the minimum excise tax proposed by former chancellor George Osborne should be dropped. The minimum excise tax is effectively a floor price that would [...]