The FTSE 100 slumps to a new yearly low amid crumbling oil prices December 15, 2014 Britain's FTSE 100 closed down again today taking the index to its lowest level this year, as crumbling oil prices and fresh concerns about Russia's economy scared investors. The FTSE 100 shed another 1.9 per cent to close down 117.9 points at 6,182.7 which was its lowest closing level since mid-2013. It fell 6.6 per [...]
Deloitte loses RBS audit job November 3, 2014 THE ROYAL Bank of Scotland (RBS) announced yesterday it would look to appoint Ernst and Young (EY) as auditor from 2016, potentially breaking its 14 year relationship with current auditors Deloitte. Deloitte, who have been the firms auditor since 2000 will continue in the role and undertake audit for the rest of 2014 as well [...]
Where are the UK’s most powerful companies based? The FTSE 100 is more diverse than you think December 10, 2014 Conspiracy theorists may merrily refer to the "metropolitan elite", but it turns out that when it comes to the FTSE 100, the north-south divide is practically a myth: half of the companies on the index are based outside London, we've found, while others have made their homes all over the world Zoom out to see [...]
City A.M.’s 10th Anniversary: Celebrating 10 years of events that shaped a decade September 6, 2015 A crunch, a crash, a coalition… When City A.M. hit the streets in 2005 no one could have predicted what was in store for the Square Mile and the broader UK – and global – economy. Here we revisit a selection of the moments that defined the last 10 years, and remember how they were [...]
Essential Living wins funds for Build-to-Rent November 27, 2014 RESIDENTIAL Landlord Essential Living has become the first company to receive funding from the second phase of the government’s build-to-rent fund, paving the way for three private rented sector developments in London and the south east. The company said today it had secured a three-year £51.6m loan from the Royal Bank of Scotland and the [...]
Keith Skeoch to step up as David Nish quits as chief executive of Standard Life June 19, 2015 David Nish will step down as chief executive of Standard Life in August after six years in the role, the savings giant said today. He'll be replaced by Keith Skeoch, currently chief executive of Standard Life Investments. Sir Gerry Grimstone, Standard Life's chairman, said Nish had "shown great leadership over the last six years, and [...]
Cala Homes targets £1bn sales by 2020 after record profits September 7, 2015 Upmarket housebuilder Cala Group delivered a record number of house sales last year as part of a major expansion drive that will see it reach £1bn sales in the next five years. The Edinburgh-based group, which was sold by Lloyds Banking Group to Legal & General and private equity firm Patron Capital a year ago, [...]
Impellam buys firm for £44m November 4, 2014 RECRUITER Impellam, the current owner of ex-FTSE 100 constituent Blue Arrow, yesterday snapped up staff agency Lorien in a £43.8m deal. Stock market listed Impellam, led by chief executive Julia Robertson, will buy the business using a mixture of cash and shares. Lorien, which specialises in tech recruitment, has offices in London and recruits workers [...]
EU referendum: Three things the EU “In” campaign must do to prevent the end of the United Kingdom October 10, 2015 So now we have two “out” campaigns. Both will battle it out to secure the holy grail of formal endorsement from the Electoral Commission, a decision unlikely to come before early next year. Already both sides have begun hostile artillery bombardment – so far only of each other. On one side is the anti-immigration Leave.EU [...]
Without currency union independent Scotland’s banks would be at risk – Niesr August 8, 2014 Scottish banks may not have the option of a government bailout if the country decides to go independent and has no formal currency union with the UK, according to a report from the National Institute of Social and Economic Research (Niesr). Without the formal arrangement Scotland enjoys at the moment, the Scottish banking system would [...]