New car sales set to overtake pre-recession levels next year December 4, 2014 NEW CAR sales are showing no signs of hitting the brakes after increasing for the 33rd consecutive month in November. November new car sales reached 172,327, up by eight per cent on November 2013, according to figures released yesterday by the Society of Motor Manufacturers and Traders. In the year-to-date new car sales have raced ahead [...]
Wages start to climb as talent pool is used up and employers chase jobseekers December 4, 2014 The long squeeze on workers’ wages is coming to an end, as recruiters today report that employers are competing harder for talent. As unemployment dives and the economy recovers, more employers are chasing fewer jobseekers, pushing up salaries. However, the intensity of the pressure will ease – the pace at which hiring is growing slowed to [...]
Autumn Statement 2014: Chancellor bids to get banks to pay tax quickly December 3, 2014 Britain's biggest banks will have to pay their taxes more quickly under new accounting rules brought in by the chancellor yesterday, bringing in an extra £3.5bn over the next four years. Lenders which made huge losses in the financial crisis are still offsetting current profits against those costs. The chancellor said he does not [...]
Investment assets back at pre-crisis levels December 1, 2014 THE AMOUNT of assets under management at the UK’s largest investment managers is now greater than it was before the financial crisis started, big four accountant KPMG said yesterday. The accountancy firm released its annual financial reporting by investment managers 2014 report, which analyses the most recent annual reports of the UK’s heaviest-hitting investment firms [...]
City Moves for 02 December 2014 | Who’s switching jobs December 1, 2014 Baker Tilly Jim Muir has been appointed head of financial services at the accountancy and business advisory firm. He previously worked at KPMG, and has held board level positions at a range of financial services businesses. Standard Chartered Gwynne Master has been appointed head of financial institutions for Europe in the bank’s corporate and institutional [...]
Triple lock plan to end fiscal drag November 30, 2014 THE INSTITUTE of Directors has offered up a bold new policy for George Osborne to consider in Autumn Statement week. The business group wants to see a triple lock system for income tax to ensure that the threshold for the higher rate increases each year by either the retail prices index, average wage inflation or [...]
JP Morgan gets double top in adviser ranking November 30, 2014 JP Morgan Cazenove picked up two top placings this morning as financial data publisher Adviser Rankings unveiled its quarterly corporate advisers rankings guide for the fourth quarter of 2014. The US bank once again was named top stockbroker with 211 stock market listed clients. JP Morgan also topped the financial advisers table – again for [...]
City Moves for 28 November 2014 | Who’s switching jobs November 27, 2014 RPC The law firm has announced the appointment of Anna Cook as a senior litigation partner. She joins from Radiant Law, the technology and outsourcing boutique, where she set up its dispute resolution team in 2012. Cook was also formerly a partner at Wedlake Bell. Kleinwort Benson Andrew Shiels has been appointed global chief risk [...]
City Moves for 27 November 2014 | Who’s switching jobs November 26, 2014 Silicon Valley Bank The bank has appointed Wibke Pendse as managing director of private equity finance and banking for the UK. She transfers from Silicon Valley Bank in the US, which she joined in 2010. Pendse has also held roles at Square 1 Bank and Comerica Bank. Old Mutual Global Investors The asset manager has [...]
Aviva share price falls as Friends Life shares rise: Surprised market reacts to deal bombshell November 24, 2014 The market was divided yesterday following the announcement of a planned merger between insurer Aviva and its competitor Friends Life. Aviva saw its shares fall by more than five per cent during the day, while shares in Friends Life climbed by six per cent. Most analysts agreed that the announcement was surprising, with [...]