Red tape drives up costs for small businesses ahead of inflation September 15, 2015 The cost for small businesses of complying with regulations is soaring ahead of inflation, despite improvements in the economy and pledges by the government to cut red tape, a leading business group has warned. The Forum of Private Business, which represents thousands of small businesses across the UK, said that 86 per cent of members [...]
Old Mutual’s chief operating officer Paul Hanratty to step down September 15, 2015 FTSE 100-listed finance firm Old Mutual has announced that its chief operating officer is leaving the group. Paul Hanratty, who has spent more than 30 years at the insurer, will continue in his role until Old Mutual's prelims are announced in March next year. After that date he will step down from the board, but remain [...]
British Land’s Leadenhall Building Cheesegrater has two new tenants Petredec and Fidelis Insurance September 15, 2015 The City's iconic Cheesegrater has two new tenants, leaving just five floors available at the Leadenhall Building. British Land and Oxford Properties, the developers behind the Cheesegrater (aka Leadenhall Building), today announced that global energy company Petredec and Fidelis Insurance were moving in. Oil and gas company Petredec, which will use the office space for its European [...]
Hastings Insurance Group IPO: Insurer looks to raise £180m in London float September 15, 2015 Hastings Insurance Group will kickstart its plans to float on the stock market today, City A.M. understands. The insurer is set to announce that it wants to raise as much as £180m from the IPO, according to Sky News, which first reported the story. Hastings declined to comment. The firm, which specialises in motor insurance, [...]
Yes, Jeremy Corbyn’s far left shadow chancellor John McDonnell is a joke – but the threat he poses is all too real September 14, 2015 "Know Your Enemy" is advice worth heeding. And it is particularly appropriate for those of us who believe in free markets when faced with the new shadow chancellor John McDonnell. For it would be easy simply to dismiss him as a far left nutcase. Not because he is not far left (he is). Not [...]
Beazley International Fencing Challenge 2015: Brokers en garde at Mansion House September 14, 2015 The City of London is well known for its traditions, pomp and ceremony; but tomorrow’s event at Mansion House could even trump the Freedom of the City service for grandeur. Insurance firm Beazley is hosting a European fencing tournament at the Lord Mayor’s offices on Tuesday for the viewing pleasure of its brokers and investors. [...]
Quindell share price falls after distressed companies investor Hedge fund Beach Point Capital Management beefs ups stake September 14, 2015 A US-based hedge fund has beefed up its stake in insurance group Quindell, which is being investigated by the Serious Fraud Office (SFO). Beach Point Capital Management now has a five per cent stake in Quindell, after buying more than 420,000 shares in the company on 10 September. Beach Point, whose clients include large public and corporate pension [...]
British retailer Next is the latest FTSE giant to invite companies to compete for its audit contract September 13, 2015 Recent regulatory changes have seen blue-chip companies enter an audit merry-go-round, with big names like Shell, British American Tobacco, Vodafone and RBS changing accountants. PwC, the market leader, is expected to lose out under the new rules, but chairman Ian Powell commented: “It’s obviously a challenge to the business, but actually our experience so far [...]
London Fintech Week 2015 events: Who, what, where & when September 13, 2015 Trading apps at the ready; London Fintech Week starts today! With the capital being the biggest force for innovation in financial technology right now, this week of talks, conferences and startup demos will be the world’s biggest business geek-out. The events start at 8:30am each day and finishes late, so try to make [...]
Rent prices go up again but rises are slower September 13, 2015 RENTS are still rising at double-figure rates on an annual basis, and are now 10.5 per cent higher than a year ago, according to the latest HomeLet rental index, out today. The average rent on a new tenancy in Greater London reached £1,558 per month during the three months to August, up from £1,440 in [...]