Theresa May mulling plan to dramatically slash corporation tax to beat a “brutal Brexit” October 23, 2016 Theresa May is reportedly considering a dramatic reduction in corporation tax if she is faced with a “brutal Brexit” in talks with the EU. According to the Sunday Times, May could slash the tax rate from 20 per cent down to just 10 per cent if the UK can't secure passporting rights for financial services [...]
Red tape could stem startup Brexit exodus as tech hits government agenda October 21, 2016 It was just two weeks after the Brexit vote that the city of Berlin sent a billboard van around Shoreditch beckoning London tech firms to move to the German capital. However, firms that took up the offer have found the German city to be lacking London's supportive, tech-friendly environment. From the country that invented the [...]
Bank of England warns: EU cannot replace the City October 12, 2016 London's financial services firms would rather head across the Atlantic to New York than relocate across the Channel if forced to leave London, a Bank of England deputy governor said yesterday, as diplomatic figures suggest that Europe would shoot itself in the foot if it drives a hard bargain with the City over Brexit. Jon [...]
Zoopla’s new offices have a wine cellar and a weird fake swimming pool October 12, 2016 Zoopla has moved into fancy new offices near Tower Bridge which boast a wine cellar, and a swimming pool (which actually seems to be a presentation room). The property portal – which also owns websites uSwitch and PrimeLocation – has taken up a space of 45,000 square feet for its 500 London staff. The company [...]
Housebuilders’ share prices struggle towards the pre-referendum summit after positive outlook from Telford Homes and Countryside October 12, 2016 Telford Homes' share price jumped 4.7 per cent in early morning trading after the company issued a confident trading update, pulling other housebuilders towards their pre-referendum prices. Countryside Properties' shares were also on the up – increasing 3.5 per cent at time of writing – when the housebuilder said any impact from the June referendum had been mitigated. [...]
Massive business rate hikes will be a disaster for growth and investment in London September 29, 2016 Hundreds of thousands of companies across the UK are nervously awaiting today’s release of new property valuation data that will determine how much they will have to pay in business rates. As if the prospect of having their rateable values reassessed after a seven-year gap wasn’t scary enough, government announcements this week create a toxic [...]
Firms call for infrastructure spend before the beginning of Brexit talks September 21, 2016 London businesses want increased infrastructure spending before the beginning of Brexit negotiations, according to a new survey. More than four in five London businesses say increased investment in infrastructure is important for the UK economy in the period between the referendum and the start of Brexit negotiations, according to a ComRes poll on behalf of the [...]
Bundesbank chief Jens Weidmann claims London banks will consider Frankfurt after hard Brexit September 19, 2016 The head of the German Bundesbank has said Frankfurt will open its arms to any banks or businesses that decide to leave London in the wake of the EU referendum. Jens Weidmann also warned that if the UK leaves the EU's Single Market – the so-called "hard Brexit" option gaining traction in parts of the Conservative Party [...]
Neil Woodford blasts “appallingly bad” funding for UK startups September 19, 2016 The UK's most famous investor has said the UK's funding system is "appallingly bad" at helping startups reach their full potential. Neil Woodford, who heads up Woodford Investment Management, told the BBC: "We have been appallingly bad at giving those minnows the long-term capital they need". Woodford is a vociferous advocate of taking a long-term approach [...]
Investors eye strong earnings at Morrisons September 11, 2016 Supermarket chain Morrisons is expected to deliver its best half yearly performance in four years this week. The chain, which is in the middle of a back-to-basics turnaround, has been slashing prices and doing deals with competitors to try and tempt customers through its doors. Analysts are expecting like-for-like sales growth of 0.7 per cent [...]