Mark Carney praises EU migration but blasts financial regulations as Bank of England weighs in on EU referendum debate October 21, 2015 The benefits of free migration and free trade provided by EU membership has greatly benefitted the UK economy, the Bank of England said today, but the central bank warned it was vital that Britain maintain a degree of independence from Europe over its financial regulation. In a speech delivered at Oxford University, Bank governor Mark [...]
How to reduce your household bills? Move to south west London where they’re cheapest and avoid Kensington and Chelsea where they cost the most October 21, 2015 The Thames isn’t the only divide between north and south in London. Those living north are paying up to 39 per cent more for their household bills compared to those south of the river – nearly £2,000 in cash terms. Residents of Kensington and Chelsea are paying more than any other Londoner, while those in [...]
EU referendum: The City’s voice must be heard on Europe October 20, 2015 Mark Carney’s intervention in the Brexit debate today will have nothing like the impact his remarks before the Scottish referendum had last year. Arguing that the SNP’s plan to keep sterling would require “some ceding of national sovereignty”, while pointing to chaos in the Eurozone, he swept aside the misplaced belief that independence could be [...]
Asos share price rises as sales smash through £1bn barrier October 20, 2015 The figures Group revenue rose 18 per cent to £1.15bn in the year to 31 August 2015, from £975.5m in 2014. This was helped by retail sales, which increased 17 per cent, from £955.3m to £1.12bn during this period. Pre-tax profit rose one per cent to £47.5m despite Asos investing in proposition, warehousing and people capabilities. These costs were partially offset by insurance proceeds [...]
Now Virgin Money is getting into the money transfer business October 19, 2015 Challenger bank Virgin Money is expanding its services and getting into the money transfer business for the first time, underpinned by technology from fintech startup World First. The new service will let customers make international transfers with no transfer fees and Virgin promising to offer better rates than quotes offered by high street banks. Virgin Money [...]
UK dividends reached record heights in the third quarter – Capita Asset Services October 19, 2015 UK dividends reached record heights in the third quarter, hitting £27.2bn, but this is unlikely to prevent an annual slump in payouts. Figures from Capita Asset Services' dividend monitor forecasts that payments for 2015 will come in at £87.2bn, down 10.5 per cent from £97.4bn in last year. A series of special dividends form the [...]
City Moves for 19 October 2015 | Who’s switching jobs October 18, 2015 BNP PARIBAS Wike Groenenberg has been appointed global head of emerging markets strategy at BNP Paribas Corporate and Institutional Banking. She was previously head of strategy for BlueBay Asset Management’s emerging markets macro fund. Groenenberg has also headed emerging market strategy at Citigroup in London, managing a team of strategists in Europe, South Africa and [...]
It’s a golden era for UK-China relations: Our transparent markets are at its heart October 18, 2015 On Wednesday night, I have the great privilege of hosting a Chinese delegation for a State Banquet at the Guildhall. I am delighted to return the wonderful hospitality that I, and my delegation of British business leaders, received in China last month, to celebrate the strong relationships that have been forged between our countries’ financial [...]
Interview: City A.M. talks to Mark Britnell, chairman of global health at KPMG October 16, 2015 As chairman of KPMG’s global health practice, Mark Britnell understands the changing face of healthcare better than almost anyone. With over 20 years' experience in healthcare, Britnell has overseen the largest new hospital build in British history, established the Royal Centre for Defence Medicine and worked as director general of the NHS (2007-2009). His book ‘In Search of the Perfect [...]
City looks to end of year float flurry as companies prepare IPOs October 15, 2015 London flotations are bouncing back as investor confidence returns to the market, with a pipeline of new listings expected before Christmas. Initial public offerings (IPOs) were in short supply during the summer, with China’s slowing economy triggering global stock market mayhem and a sharp downturn in investor morale. But yesterday, McCarthy and Stone, which builds [...]