Global cyber attack hits UK firms as WPP reports hack June 27, 2017 A massive cyber attack which has hit a number of institutions in Ukraine appears to be spreading across Europe. Several firms, banks and government offices in Ukraine began to report attacks earlier today caused by ransomware named “Petya”. London-based advertising giant WPP has reported problems with its IT systems caused by a “suspected cyber attack”, [...]
Banking Brexodus? One year on, this is what banks have said about Brexit and job moves June 23, 2017 In the year since the UK voted for Brexit, one of the hot topics for discussion in the City has been job moves. In February, Brussels think tank Bruegel estimated that 10,000 UK banking positions could be shifted to the EU because of Brexit. One year on from the EU referendum, it is difficult to [...]
From flying taxis to a London shuttle: Here are five of the coolest driverless concepts June 16, 2017 Over the next decade, driverless technology is set to transform not only how we drive, but the prospect of owning a vehicle. Advances in artificial intelligence, cameras, sensors, and radar are making this possible. With that in mind, here are five of the most exciting autonomous prospects on the horizon… Read more: Not a load [...]
What Brexit, the General Election and foreign demand means for London’s commercial property market June 5, 2017 Martin Samworth practically lives on a plane. As the chief executive for Europe, Middle East and Africa (EMEA) for one of the world’s largest property consultancies CBRE, he’s a busy man. In the last few weeks, he has travelled to Madrid, Colorado, Dusseldorf, Tel Aviv, Frankfurt, Lisbon, and New York. The property veteran, who joined [...]
What’s your grey rhino plan? June 1, 2017 In the wake of the 2008 global financial crisis, it was fashionable to discuss black swan events: those rare and catastrophic occurrences that few people predict in advance. Although black swans have major consequences, predicting and preparing for them can be highly impractical. At the 70th CFA Institute Annual Conference, author Michele Wucker recommended financial [...]
How to stand out by building a client-oriented culture May 30, 2017 What do you need to do to survive in the wealth management industry today? Two words: Differentiate yourself. That was the message delivered by Isaac Presley, CFA, Blair duQuesnay, CFA, and John T. Elmes II, CFA, during a discussion on building a client-oriented culture at the 70th CFA Institute Annual Conference in Philadelphia. It was [...]
Editor’s Notes: Tory immigration policy will harm the City and our economy, Corbyn’s deleted Chavez past and City AM founders included in Change Makers series May 26, 2017 Back when George Osborne was chancellor and Theresa May was home secretary, the pair would argue over the wisdom of seeking dramatic reductions in net migration. May was obsessed with the idea, and clearly still is, whereas Osborne was instinctively more comfortable with the view that immigration was nothing to worry about and the benefits [...]
Crossrail 2 could be derailed by the General Election as approval is left to next government and Conservatives leave it out of their manifesto May 18, 2017 The future of Crossrail 2 could be pushed off track by the General Election, as the government does not intend to give the £30bn project’s business case the go-ahead by the end of this month. The Conservatives also left out any mention of a commitment to the project in today’s manifesto. Crossrail 2 boss Michele [...]
UK house price growth drops to 4.1 per cent in March as slowdown in London continues , according to data from the Office for National Statistics May 16, 2017 Average UK house prices increased 4.1 per cent in the year to March 2017, down from 5.6 per cent in the year to February 2017. New data from the Office for National Statistics shows the general slowdown in the annual growth rate seen since mid-2016 continues. House prices in London recorded the second-lowest annual growth [...]
Labour’s Robin Hood tax plans: Pensioners will suffer as levy erodes retirement pots, says asset manager May 15, 2017 Pensioners will be hit hardest by Labour plans to introduce a Robin Hood tax, one of the UK’s leading asset managers has said. On Sunday the Labour party revealed plans to raise £4.7bn by changing stamp duty levels on shares and introducing a levy on other financial instruments such as derivatives. Today the chief investment [...]