The value of you increased by £18,000 last year August 18, 2016 Ever wondered how much you're worth to the economy? Well, now you know: the Office for National Statistics (ONS) has released analysis showing the value of the UK's human capital increased by £890bn to £19.2 trillion last year. The figures, published this morning, showed the average employed person is now worth £471,000, up £18,000 from 2014. If [...]
About-turn? Co-operative Bank losses shrink August 18, 2016 Things are looking up again for the once-troubled Co-operative Bank, as it unveiled incredible shrinking losses… The figures Pre-tax losses shrank to £177m in the six months to the end of June, £27.2m less than the £204.2m loss it made last year. Operating income was £228.2m, down slightly from £236.5m last year – although operating costs shrank for £222.8m, down from £262.9m last year. Capital reserves fell to 13.4 per [...]
City Moves for 18 August 2016 | Who’s switching jobs August 18, 2016 Red Deer Red Deer, a new London-based fintech company, has appointed Stefano Vaccino as chief product officer and Henry Price as chief commercial officer. Stefano joins Red Deer from Algomi, where he was chief product officer and a member of the executive team. At Red Deer he will oversee product strategy and manage the entire development prioritisation process. Henry joins Red [...]
This is how people are most likely to talk about London August 18, 2016 People have been gossiping about life in London – and what they have to say does not make for a relaxing read. Over a third (36 per cent) of non-Londoners would describe the city as "stressful", according to The Rias City Index, released today. However, the perception only gets worse once you venture into the capital itself, [...]
Fancy driving a Tesla? You can rent one from Heathrow Airport August 17, 2016 Horses were a cool way of getting around. You couldn’t ride one into a tree or over the edge of a cliff, even if you tried. You could fall asleep on them and safely wake up in the stable next to your house. They eat nothing but hay and poop out pure, nutrient-rich horse puddings. [...]
Solvency ratio concerns weigh on Admiral as its share price dives August 17, 2016 Insurance giant Admiral led today's FTSE 100 laggards as it slid eight per cent after revealing a solvency ratio decline within its half-year results announcement that wasn't to everyone's tastes. The figures Group profits were up to £193m from £186m on turnover that jumped nearly 20 per cent from £1.06bn to £1.26bn. UK operations profit before tax increased slightly from [...]
Household income surpasses pre-crisis levels – but not for those in work August 17, 2016 Disposable incomes have finally reached their pre-crisis high after a seven-year battle to recover from the recession. UK households had an average of £26,400 to spend in the last financial year, according to the Office for National Statistics (ONS), up 2.7 per cent on the year before and back above the £26,000 level reached in 2007/08. The [...]
Uber launches legal challenge over new London taxi rules August 16, 2016 Uber has launched legal action against London's transport regulator over new rules that threaten to limit its business in the capital, City A.M. can exclusively reveal. The billion-dollar startup is seeking a judicial review to halt the introduction of new rules it claims are too strict. Transport for London set out new regulations earlier this year after a [...]
Direct Line abandons plan to offload part of its pension scheme August 16, 2016 Direct Line has abandoned the potential offload of part of its pension scheme, following the conclusion of an internal review. It was part of a defined benefit (DB) scheme — in which monthly payouts are linked to an employee's final salary — going back to when the insurer was wholly owned by the Royal Bank of Scotland. Direct Line [...]
Everyone will benefit from the coming “brain free” car revolution August 16, 2016 Driverless cars are making headlines, with the future of travel revealing itself to be grounded very much in the present. It’s a thrilling time to be in the motor business as trials of new vehicles are gaining momentum. And while it will take time for the technology to be fully rolled out on our roads, completely [...]