China loses competitive edge as its wages climb September 16, 2011 LOW WAGES may have been the foundation of China’s economic boom, but its competitive advantage in the space is disappearing, according to a report from KPMG out yesterday. Other south and south-east Asian countries like Bangladesh and Indonesia are now significantly cheaper locations for manufacturing activities. After years of high growth, wages have increased – [...]
CITY MOVES | WHO’S SWITCHING JOBS September 13, 2011 AFC Energy The fuel cells developer has appointed Ian Williamson as chief executive and a director of the company, effective from 14 November. Williamson, who will be granted an option of one million ordinary shares when he joins the board, joins AFC Energy from Air Products, where he was most recently hydrogen and bio energy [...]
Delay banking reforms: BCC September 11, 2011 A LEADING business organisation has urged the government to prioritise growth over regulatory reform ahead of today’s publication of the final report from the Independent Commission on Banking (ICB) John Longworth, the new director general of the British Chambers of Commerce (BCC) said he accepted the “need to ensure our banking system is robust” but [...]
UK infrastructure bottleneck stifles investment and jobs September 8, 2011 TACKLING Britain’s crumbling infrastructure would create jobs and boost competitiveness at a critical moment, businesses said in a survey out today. But 98 per cent of 447 companies surveyed see the complexities of the current planning system as a barrier to infrastructure investment. Fifty-eight per cent of businesses think the UK’s infrastructure compares unfavourably against [...]
UK employment recovery could soon be at an end September 6, 2011 THE RECOVERY in UK job prospects could be running out of steam if the trend seen in August continues, according to a report out today. The Recruitment and Employment Confederation (REC) and KPMG said the rise in vacancies brought by the economic recovery slowed through August. Pay levels are also suffering, with last month’s increases [...]
London firms want better transport September 4, 2011 LONDON’S next mayor should boost transport, fight unions and spend our taxes here, say businesses. Eight months ahead of the mayoral election, a survey of London companies, released today, has found enormous dissatisfaction with current tax, transport and industrial policies. Sixty per cent support a “strong line on public sector strikes”, 57 per cent think [...]
Collins Stewart climbs league August 29, 2011 COLLINS Stewart has leapt up the City league of brokers and corporate advisers, moving four places to rank sixth in the latest figures from financial data firm Hemscott. The firm made the largest jump in the overall rankings, adding two new clients to end the quarter with a client count of 78. JP Morgan Cazenove [...]
Ireland eyes mortgage debt restructuring August 22, 2011 The Irish government is likely bring in legislation to restructure mortgage debts for thousands of troubled loanholders as it does not have the resources to fund a significant debt forgiveness programme, a junior minister has said. Ireland’s ruling coalition has promised to examine ways to ease the burden on mortgage holders struggling to cope with [...]
CITY MOVES | WHO’S SWITCHING JOBS August 8, 2011 Santander The retail and commercial bank has promoted Robin Foale, formerly the divisional managing director for corporate and commercial banking in Thames Valley & South West, to managing director for its business banking division. In his new role, Foale will review the services offered to small businesses in Santander’s branch and telephone network. Prior to [...]
City firms need to be prepared for the Olympics August 7, 2011 London 2012 TIME TO GET READY WITH London 2012 less than a year away, companies around the capital need to prepare for the impact the Games will have on their business. The good news is that the City is leading the way in business preparedness. According to research from London 2012 and Transport for London, [...]