PwC acquires Edinburgh-based consultancy Praxism UK to strengthen its cyber security offering January 25, 2016 Professional services firm PwC has today announced that it is acquiring consultancy Praxism UK to strengthen its cyber security offering. The Edinburgh-based consultancy company was founded in 2008 and specialises in identity and access management. Praxism's 13 employees, along with the company's founder and director Derek Gordon, will mostly be joining PwC's Edinburgh office, although one specialist will [...]
When fintechs and banks go speed dating February 8, 2017 While the seemingly age-old debate about whether fintech startups will kill banks still rages on, FinovateEurope demonstrates why that question is now largely redundant – things have moved on. The 80 startups on stage at the two day event in the heart of the City are pitching the banks, insurers and City institutions in attendance more [...]
Inflation: How far will UK consumer prices rise this year? February 14, 2017 Inflation has already hit a 31-month high, but economists are almost universally predicted a steep rise in consumer prices over the coming year. The Bank of England (BoE) expects consumer prices to rise to 2.7 per cent by the end of this year, but other economists think that might be at the more conservative end [...]
With consumers glued to their smartphones, mobile ad budgets are soaring October 12, 2016 Reading this on your smartphone? Company advertising departments will be pleasantly unsurprised. Consumers’ obsession with their smartphones meant that firms increased their mobile advertising budgets by 56 per cent year-on-year to £1.7bn in the first half of 2016. This means that 36p in every £1 spent on internet advertising now goes on phones, up from 4p [...]
London is the world’s greatest city because it’s both a cultural and business powerhouse January 9, 2017 "You find no man, at all intellectual, who is willing to leave London. No, Sir, when a man is tired of London, he is tired of life; for there is in London all that life can afford.” This famous quotation by British poet Samuel Johnson still holds true about our great city some 240 years later. London [...]
Why sheriffs of London cherish the City’s power January 9, 2017 I served recently as one of the two sheriffs of London – a role that surpassed all expectations. Whether travelling to Cuba with the former lord mayor Jeffrey Mountevans, drumming up business for UK firms, hosting judges’ lunches at the Central Criminal Court, or presenting prizes at a City school, I relished every minute of the [...]
Financial services sector is a “golden goose” for tax revenue as top UK firms contribute £82.3bn December 15, 2016 The tax contribution of the largest UK companies to the economy is now £82.3bn, according to a study published today. A survey of the total tax contribution of the 100 Group shows that the amount either paid or generated by the biggest UK firms has gone up by 2.2 per cent from last year’s total [...]
Businesses back May’s tweaked approach to governance as green paper hints at fresh u-turns November 29, 2016 Businesses have welcomed new proposals on corporate governance which appear to show Theresa May continuing to tweak her stance on the sector. The widely-trailed plans included proposals to make publicly-listed firms publish pay ratios, and introduce a form of representation on public boards. But May had already backtracked on forcing firms to directly hand workers non-exec [...]
Stock market winners and losers after Autumn Statement: Estate agents hit after chancellor scraps letting fees November 23, 2016 Estate agents Foxtons, appear to have been the biggest losers from the Autumn Statement on the stock exchange today after chancellor Philip Hammond announced plans to scrap letting agents’ fees. Estate agents: losers Foxtons' share price fell 14 per cent to 105pon the day of the Autumn Statement. The estate agent’s shares were already down [...]
Insurance premium tax rises to 12 per cent from next June. And it will be consumers that are hit worst, say insurers November 23, 2016 The rate of insurance premium tax will rise from 10 per cent to 12 per cent from next June, Chancellor Philip Hammond announced in the Autumn Statement. The rise will be the third hike since last November 2015 and means insurance premium tax will have doubled from six per cent to 12 per cent in just [...]