Treasury is saddling British businesses with £29bn in extra costs from National Living Wage (NLW), apprenticeship levy and business rates – Confederation of British Industry (CBI) February 15, 2016 British businesses will be hit with a bill for almost £30bn in additional costs as a result of government policies including the National Living Wage (NLW) and the apprenticeship levy. The flagship schemes, along with the existing business rates regime, will cost British businesses around £9bn every year by 2020-21, according to new analysis out [...]
Let the good times roll: EY Item Club forecasts strong growth for UK financial services February 15, 2016 The financial services industry can expect decent growth over the next few years, a group of forecasters have said today. Mortgage lending, business borrowing and consumer credit are all set to grow at healthy rates over the coming years, as the UK economy shrugs off recent severe stock market declines. However, the EY Item Club said [...]
Sir John Vickers warns Bank of England “too big to fail” bank buffers are not enough February 14, 2016 New requirements for banks to hold enough capital to prevent them from going under in the event of another financial crisis have been questioned by Sir John Vickers. In a stark warning Vickers, the author of 2011's Independent Commission on Banking (ICB) report in the wake of the financial crisis and subsequent bailouts, has called the wisdom of the BoE's [...]
PPI claims: Ministry of Justice clamps down on claims management companies responsible for pesky PPI calls February 14, 2016 Ministers are cracking down on companies handling claims for payment protection insurance (PPI) refunds by capping their charges. The Ministry of Justice announced today that it would be limiting the fees charged by claims management companies (CMCs), many of which are claiming more than one-third of consumers' financial claims for themselves. "We want to do all we can [...]
Human drivers will be obsolete by 2050 as driverless technology takes over, say researchers Moshe Vardi and Bart Selman February 14, 2016 Cars driven by humans will become obsolete with the rise of driverless car technology, leading researchers have predicted, and it could happen as soon as 2050. "You cannot ride a horse in downtown Houston anymore. If you like horse riding, you have to go to horse ranches. The same is likely to happen with cars," said Moshe Vardi, [...]
Reduce red tape for self-employed, Cambridge Satchel Company entrepreneur Julie Deane tells David Cameron February 14, 2016 The self-employed should have the burden of red tape reduced, one of the UK's top entrepreneurs has said. Julie Deane, founder of the Cambridge Satchel Company, has recommended the regulatory burden on those who are self employed should be addressed among other suggestions in a review of self-employment commissioned by David Cameron. She has also called for [...]
Some of the best-paying marketing jobs are in banking and finance – although pharmaceuticals and consumer goods beat it for senior roles February 12, 2016 If you're just starting out in marketing, you could do a lot worse than getting into the finance sector – after new research suggested it pays junior marketing types better than any other industry. The research, by salary benchmarking site Emolument, found junior marketing professionals earn an average salary of £37,000 at banking and financial services [...]
What we get wrong about how much we are paid: Most people completely underestimate the gender pay gap February 12, 2016 Most people completely underestimate the size of the UK’s gender pay gap, as the government presents new initiatives to narrow the gap. Perceptions clash with reality when it comes to equal pay. Some 76 per cent of UK employees believe men and women are paid equally, according to a study from careers website Glassdoor, when [...]
Win a unique trip to the magical Fonterutoli Estate in Tuscany February 12, 2016 Chianti produces wines of global acclaim and has firmly earned its place amongst the greatest wine regions of the world. Alongside the new release of Siepi 2013, in association with wine travel company Winerist, the City A.M. Wine Club is excited to announce a new competition. One lucky winner will win a unique trip to [...]
Don’t dump upfront pensions tax relief: Why a Pensions Isa won’t drive people to save February 12, 2016 A pensions revolution may truly be upon us. Hats off then to City A.M. whose reporting has led the way in publicising the Treasury’s activities in advance of potential changes to how Britain incentivises pension saving. The lurid comparison with Gordon Brown and his 1997 abolition of dividend tax credits made by former pensions minister Steve [...]