Weakest UK tech sector growth since 2015 amid slowdown in demand November 25, 2019 The UK’s tech sector grew at the slowest rate in almost four years in the third quarter as a global economic slowdown and domestic political uncertainty dented the industry, new research shows. The tech sector was hit by a downturn in new work for the first time since 2012 during the three months to 30 [...]
Fintech review flags sector’s status as one to watch August 3, 2020 Six figures from the business world have set sail on a six-month voyage to investigate and recommend priorities for the financial technology sector. Ron Kalifa is helmsman of the ‘Fintech Strategic Review’, announced in March’s Budget but – until now – stuck in the harbour as the coronavirus pandemic took hold. Sherry Coutu, Anne Glover, [...]
When will the UK economy recover from coronavirus? May 15, 2020 The UK economy is set for its worst contraction since at least the Great Depression this year as the coronavirus lockdown brings activity to a halt. There’s little doubt about that. There is doubt about what comes next, however. Economists have made huge numbers of predictions, using an array of letters to describe the recovery. [...]
How badly will the UK unemployment rate spike when furlough ends? July 22, 2020 Chancellor Rishi Sunak’s furlough scheme has so far saved the UK unemployment rate from sharp increases during the coronavirus lockdown, but it is drawing to an end. Consequently job losses are set to spike after furlough concludes in October, according to economists. Currently the government is paying 80 per cent of over 9m British workers’ [...]
Hospitality redundancies: How many restaurant and pub jobs have been lost during the pandemic? February 27, 2021 How many restaurant and pub jobs have been lost during the pandemic?
Lord Ashcroft’s Devonshire Club set to appoint administrators March 8, 2020 A luxury private members’ club co-owned by Tory peer Lord Ashcroft could be on the brink of insolvency after launching a hunt for administrators. The Devonshire Club, close to Liverpool Street station in the City, has filed notice with the High Court of its intention to appoint an administrator. It has also hired insolvency experts [...]
Open finance: exploring open banking’s natural evolution October 23, 2020 Laziness. Lack of time. The all-too-frequent challenge of speaking to a helpful person by phone. There are many reasons why consumers and businesses don’t shop around and switch products and suppliers. Failing to keep abreast of the best mortgage rates? Rolling onto the same insurance every year without looking for better deals? If so, open finance – a development coming [...]
EY UK to cut partner profit 20 per cent in coronavirus response April 15, 2020 EY UK said today it will cut partner profit 20 per cent in response to the coronavirus pandemic. The firm said in a statement that “its partners will do everything possible to navigate through the covid-19 situation with no redundancies amongst its 17,000 UK employees, no people furloughed and no reduction in employee salaries.” The [...]
Deloitte UK cuts partner profits 20 per cent and freezes salaries in response to coronavirus slowdown April 15, 2020 Deloitte UK will cut partner profits 20 per cent profit this year and staff across the business will have their salaries frozen in response to the coronavirus slowdown, the firm’s senior partner said today. The firm is also delaying the distribution of profits to partners to try and conserve cash. Senior partner and chief executive [...]
UK jobs market strengthens but IR35 looms March 6, 2020 UK companies took on permanent workers at a solid rate in February, survey data has shown, even as temporary billings fell ahead of upcoming IR35 legislation changes. The UK jobs market performed well in 2019 despite business investment and trade suffering under the weight of Brexit uncertainty. There were some signs it was beginning to [...]