Leeds wealth manager aims to take revenues north with London firm takeover October 18, 2016 Leeds-based wealth management company the Private Office (TPO) has acquired a London financial planning firm. The cash and equity deal for PQR Financial Planning will strengthen TPO’s London presence and create a platform for further growth, the firm said. The combined business, which also includes TPO sister company SavingsChampion.co.uk, will have a turnover of £8.5m. [...]
Tech sector drives demand for London’s offices post-referendum October 18, 2016 The tech sector is driving a return to health for the commercial property sector in central London. According to Knight Frank, there was demand for 9.5m square feet (sq ft) of office space in central London between June and September. This is ahead of the long-term quarterly average of 7.5m sq ft. Read more: How [...]
Before the bell: What you need to know before the US market open October 18, 2016 Inflation in the UK has jumped, and new loans in China grew by more than expected. Here's what you need to know before the US market open at 2:30pm. US futures are pointing higher ahead of the open. The S&P is up by 0.54 per cent, while the Nasdaq is 0.62 per cent higher. The Dow [...]
Utilitywise share price buzzes on double-digit turnover and 97 per cent cut to net debt October 18, 2016 Shares in utility cost management consultancy Utilitywise rose this morning after the company posted double-digit revenue growth and announced the appointment of a new chief financial officer. The figures Revenue at the group rose 22 per cent to £84.4m in the year to 31 July, up from £69.1m in 2015. Profit before tax grew by seven per [...]
Inflation surges to two-year high as economists warn of huge price hikes October 18, 2016 Prices are rising at their fastest pace in nearly two years as sterling's dramatic post-referendum demise looks set to bite consumers over the coming months. Inflation came in at one per cent in September on the consumer prices index (CPI), the Office for National Statistics (ONS) declared this morning – a big leap from the 0.6 per [...]
Former leadership hopeful Steven Woolfe quits ‘ungovernable’ Ukip October 17, 2016 Ukip's Steven Woolfe has announced he is quitting the party, deeming it "ungovernable". Woolfe said the party "lacks direction, it lacks a purpose and it lacks any semblance of professional organisation". He said he will now sit as an independent MEP in the European Parliament. [infographic id="922"] Earlier today, party chairman Paul Oakden said Ukip may [...]
Construction industry still struggling for momentum October 14, 2016 British builders downed tools over the summer, as construction output missed economists' expectations in the wake of the EU referendum. Activity in the sector, which accounts for around six per cent of the UK economy, dropped by 1.5 per cent between July and August, the Office for National Statistics (ONS) confirmed this morning. The fall [...]
Editor’s diary: Adam Smith gets a rebrand for 21st century politics October 14, 2016 We hear a lot about neoliberalism these days. More often than not it’s a phrase thrown around by pro-Corbyn activists as a form of insult that ranks alongside “Blairite”. Indeed, you’ll often hear the two phrases together. Owen Smith, who challenged Corbyn for the leadership on a policy platform of higher taxes, nationalisations and state expenditure [...]
Wells Fargo boss stands down and is replaced by chief operating officer October 12, 2016 The embattled boss of Wells Fargo, John Stumpf has quit his post, effective immediately. The reins at the US' third largest bank have been handed onto Tim Sloan, the company’s president and chief operating officer. Sloan will hold onto his role as president. Stumpf had been under increasing pressure to resign in the wake of an investigation into claims that its employees [...]
Travelodge to create 1,000 permanent jobs in Christmas recruitment drive October 12, 2016 British hotel chain Travelodge is planning to check in 1,000 new members of staff as it launches a Christmas recruitment drive to fill positions at dozens of locations across the country. The budget hotelier is recruiting 160 staff for seven new hotel openings in Finchley, Stockport, East Grinstead, Kings Lynn, Andover and Peterhead. The group [...]