The Bank of England’s chief economist has “sympathy for savers” after rate cut August 14, 2016 One of the Bank of England's senior policy-makers has said he has "enormous" sympathy for savers, after the central bank slashed interest rates in the wake of the Brexit vote. Andy Haldane, one of nine members of the BoE's rate-setting monetary policy committee who voted in favour of cutting rates even further from their already historic low, said [...]
What to watch in Rio: Mark Cavendish and David Rudisha in Monday’s must-watch events at the Olympics August 14, 2016 British cycling hero Mark Cavendish is aiming to end his long wait for an Olympic medal to add to his otherwise illustrious career in the men's omnium, which concludes on Monday evening. The omnium pits riders against each other in six individual races with the final three events; the time trial, the flying lap and the points race, scheduled for 2:21pm, [...]
Chelsea boss Antonio Conte says striker Bertrand Traore to be loaned to Ajax while Nemanja Matic will stay put August 12, 2016 Chelsea striker Bertrand Traore will spend next season on loan at Ajax, manager Antonio Conte has confirmed. The 20 year old forward has just signed a new three year contract at Stamford Bridge but will spend the 16/17 season playing in the Eredivisie as he "continues his development". Unable to offer Traore enough game time, Conte said [...]
The government will publish the final apprenticeship levy details just six months before it launches August 12, 2016 Businesses are to be given just six months to prepare for the launch of the apprenticeship levy, according to documents released today. In a summer consultation, the government has laid out the arithmetic behind plans allowing businesses to deduct the training of their own apprentices from the levy, which is set at 0.5 per cent [...]
This is where all the bankers live (and it’s not West London) August 12, 2016 West London has normally been thought of as the residential hot-spot for bankers – but although it still houses the most wealthy people in London, the City folk have moved out. City workers are now concentrated in the Isle of Dogs and fashionable Islington, according to data from salary benchmarking site Emolument. Read more: Mapped: First-time buyer [...]
Ready, Aim – float: IPO activity on London’s junior market is booming this year August 11, 2016 Time Out, Joules, Hotel Chocolat and a northern discount loo roll business called Accrol are among the 27 companies to have floated on London’s junior market so far this year. While the London Stock Exchange’s main market, in common with other big exchanges, has experienced a slowdown in initial public offerings (IPOs) this year, the alternative [...]
This insurer is calling the shots in the war for tech talent August 11, 2016 Finding appropriately skilled staff for technology projects is a problem which plagues many businesses, but one insurance company has told City A.M. it seems to have it sussed. Gary Hoffman, chief executive officer of Hastings Group Holdings, revealed the company was increasingly looking beyond other insurance firms to sniff out the best talent and turning to tech giants, such [...]
Audley Retirement’s CEO moots an IPO in 2018 August 11, 2016 The boss of the retirement property company Audley Retirement has mooted a potential IPO for 2018. The flotation would value the company at hundreds of millions of pounds. He said the current market was also an opportunity for Audley to move into the London. Previously, London was so overheated that Audley couldn’t get a look-in – but as [...]
Sales fall, but retailer’s shares up as back-to-school season approaches August 11, 2016 Kohl’s share price leapt 15 per cent in the US on Thursday morning after the department store retailer beat analyst expectations in its second quarter. The figures Sales in the three months to 30 July fell two per cent year-on-year to $4.2bn (£3.2bn). Net income for the period, meanwhile, came in at $140m, up eight [...]
Ministry of Sound investment: Sony Music acquires London Grammar label August 10, 2016 Sony Music UK has announced the acquisition of label Ministry of Sound Recordings. Founded in 1993 as an extension to the South London nightclub Ministry of Sound, the label boasts a roster including London Grammar, DJ Fresh, Sigala, Jodie Abacus, Louis Berry, MIAMIGO and Moss Kena. Read more: Imogen Heap believes blockchain technology could save [...]