Brexit is no excuse for postponing the Taylor Review labour reforms February 9, 2018 The rise of the gig economy and evolving models of business are changing the world of work. UK employment levels maintain record highs, and over 800,000 vacancies exist. That said, there remains concern that, despite consistently long hours, the UK has the lowest levels of productivity of all EU member states – the pervasive UK [...]
Softbank raises eyebrows with talks to buy a slice of Swiss Re February 8, 2018 Softbank has raised eyebrows after a confirmation it is in talks with Swiss Re about taking a minority stake in the insurance behemoth. The pair are “engaged in preliminary discussions”, Swiss Re revealed in a statement this morning. However, “there is no certainty that any transaction will be agreed”. “I don’t quite get this Softbank [...]
When the scheme is a scam: Top tips to protect your money against con artists February 7, 2018 As we see a rise in people investing online, fraudsters are changing the way they con people out of money. Worryingly, £87,000 is being lost to investment scams every single day, according to figures published by the UK’s financial watchdog last week. The Financial Conduct Authority (FCA) urged people to be vigilant when signing up [...]
Government to scrutinise employment status after rise of gig economy with Uber and Deliveroo February 7, 2018 The government will promise to scrutinise how workers are classified with a rising number of people working in the so-called gig economy, popularised by tech companies such as Uber and Deliveroo. Business and industry will be consulted on plans that could lead to changes to the current statuses that exist in law – employed, self-employed [...]
DEBATE: Should we pay more tax to increase funding for the NHS? February 6, 2018 Should we pay more tax to increase funding for the NHS? Dr Clare Gerada, medical director of the NHS Practitioner Health Programme and former chairwoman of the Royal College of GPs, says YES. The NHS is our most treasured national institution. But it is clear that current funding is not keeping pace with need. Year [...]
Lloyds Banking Group cuts 930 jobs ahead of fresh three-year strategy February 5, 2018 Britain’s biggest bank has axed 930 jobs across multiple divisions ahead of a new three-year strategy to be unveiled later this month. A Lloyds Bank spokesperson said the majority of cuts were within the lender’s commercial banking unit, the chief information office, risk, community banking and insurance and wealth. A net total of 465 roles [...]
UK exports in financial services jump to £95.7bn February 5, 2018 Britain's exports in financial and professional services had a record-breaking year in 2016, according to figures released today by TheCityUK. Exports in the sector jumped 15.8 per cent from £82.6bn to £95.7bn, breaking away from four years of relatively sluggish growth, when exports edged up by 0.9 per cent each year on average. The UK [...]
What is the Vollged Initiative and does it spell the end of fractional reserve banking? February 5, 2018 The 2008 financial crisis jolted many of us out of our comfort zones, leading to the argument for a complete overhaul of the monetary and banking system. This very concept has recently been petitioned in Switzerland. Switzerland, that scion of banking, may vote to end the bedrock philosophy underlying modern finance. More than 100,000 Swiss [...]
The UK must not get left behind by China’s rise as a new superpower February 5, 2018 Last week, the Prime Minister visited China, a country set to have the largest economy on Earth by 2030. Its rapid growth is expected to continue for another generation. In 2016, foreign direct investment from China reached $180bn – a striking figure when compared with 2002, when it totalled less than $5bn. The sophistication of [...]
UK exports in financial services jump to £95.7bn with London leading the pack February 5, 2018 Britain’s exports in financial and professional services had a record-breaking year in 2016, according to figures released today by TheCityUK. Exports in the sector jumped 15.8 per cent from £82.6bn to £95.7bn, breaking away from four years of relatively sluggish growth, when exports edged up by 0.9 per cent each year on average. Read more: [...]