Hotels continue to be a favourable option for investors looking to the UK January 11, 2017 As the UK’s most popular tourist destination after London, Edinburgh plays a vital role in the UK tourism economy. Its preeminent position was underlined recently when Deloitte – for a third year running – named Scotland’s capital the UK’s most attractive location for hotel investment outside London. The figures certainly stack-up. The city achieves some [...]
Inzura becomes the lastest company on the insurtech scene August 9, 2016 Inzura – a new digital insurance platform – is set to begin using smartphone data and photo recognition to calculate policies. It’s thought insurance companies will be able to take on less risk by fine-tuning policies. "We believe the smartphone will play a central role in the much-needed digitisation of insurance," said Richard Jelbert, chief executive of [...]
As recession fears fade following strong services PMIs, was the Bank of England wrong to cut interest rates post-Brexit? September 5, 2016 Andrew Sentance, senior economic adviser to PwC and a former member of the Bank’s Monetary Policy Committee, says Yes. Very low interest rates have been with us since 2009, but the Bank of England’s latest stimulus package has had a dramatic impact on long-term investment returns. Twenty-year UK government bond yields are now just over 1 [...]
Chief exec eyes Speedy recovery after “tumultuous” 2016 and high-profile activist investor attack December 20, 2016 It has been a tumultuous year for Speedy Hire. And chief executive Russell Down would be one of the first people to say so. The tool and equipment rental business was on the end of arguably the most high-profile activist investor attack of 2016. Toscafund, whose chief executive Martin Hughes has earned the City nickname Rottweiler, issued [...]
BDO breaks through £400m revenue barrier and hikes partner pay October 6, 2016 Partners at accountancy firm BDO will be celebrating bumper pay packets today after it was announced that they'd be receiving a 29 per cent increase in average earnings. BDO revealed its full-year results for 2015/16 today and unveiled revenues that had smashed through the £400m mark – at £405m they were 3.9 per cent more than [...]
City Moves for 3 November 2016 | Who’s switching jobs November 3, 2016 Palatine Private Equity Palatine Private Equity has appointed Zoe Clements as a partner in the London team as the firm looks to back businesses that have a focus on environmental, social and governance (ESG) principles within their business models. Zoe joins from Electra Partners where she played a leading role in their investment in Photobox [...]
Small firms want Germany front and centre in Brexit negotiations, finds new research August 22, 2016 The UK's small businesses are keen to keep in touch with their German counterparts following Brexit, research out today has found. The study by PwC, as part of its My Financepartner offering, of 566 SMEs discovered that two thirds (66 per cent) want government to focus on maintaining access to the Single Market for businesses in its negotiations and [...]
UK immigration reached 650,000, its highest levels ever, in the year before the Brexit vote, but cuts to immigration could harm the public finances December 1, 2016 Immigration to the UK reached 650,000, the highest level estimate ever recorded, in the year before the Brexit vote, but influential economists have warned that attempts to reduce net migration could harm Britain’s public finances and even result in higher taxes. European Union immigration also reached its highest ever level, at 284,000, an increase of [...]
London set for biggest IPO in six years as warehouse giant plots 2017 float January 12, 2017 London is set for its biggest float in more than half a decade, City A.M. can reveal. Private equity giant Blackstone is aiming to list warehouse business Logicor, which is valued at around €13bn (£11bn), on the London Stock Exchange in 2017. Sources told City A.M. the initial public offering (IPO) could come in the first [...]
After a torrid time for sterling, is the UK economy heading for trouble? October 10, 2016 Andrew Sentance, senior economic adviser to PwC and former member of the Bank of England’s MPC, says Yes. It is not just Brexit which is undermining sterling at present. The UK has a large balance of payments deficit. The government still has a large deficit – and Philip Hammond seems more relaxed than George Osborne about [...]