The big chop: European banks slash over 20,000 jobs October 4, 2016 European banks are set to slash more than 20,000 jobs as tougher capital requirements and negative interest rates bite into the sector’s profitability, putting fresh pressure on many lenders to cut costs further. Dutch lender ING Group said yesterday that it would get rid of 7,000 positions over five years as it focuses on internet and mobile banking and [...]
UK R&D spend dropped by 52 per cent between 2007 and 2015 – PwC October 27, 2015 Spending on research & development (R&D) in the UK dropped by 52 per cent between 2007 and 2015, according to research from PwC's Strategy& business. The financial services firm said this shift had come about as a result of globalisation making it “increasingly attractive for UK companies to redeploy their R&D spend globally instead of investing domestically”. [...]
Wetherspoon’s boss Tim Martin slams everyone who backed Remain in a lengthy essay September 9, 2016 On announcing his company's preliminary results this morning, JD Wetherspoon chairman Tim Martin took the opportunity to slam David Cameron and George Osborne for their conduct during the referendum campaign. In great detail, Martin listed the people who forecast a disastrous downturn for the country, in some cases, even citing the newspaper article they were featured in. [...]
Executive pay packets now closer aligned to company performance, finds new report by professional services firm PwC November 9, 2015 Bosses’ bumper pay packets have become more reflective of company performance, according to a new report released this morning. In their study, called Sunlight is the best disinfectant, PwC argues that greater transparency has firmer tied executive bonuses to company performance. By examining FTSE 100 companies over the last five years, the audit giant has [...]
From smartphones to smart homes: O2 launches subscription connected home service September 1, 2016 O2 is going from smartphones to smart homes with the launch of a new service that will let users operate their heating and lighting from their mobile. O2 Home will also offer connected plugs to control any device, cameras, intruder alarms and more all controlled via an app from whereever you are and which can react to your return home [...]
Nine up-and-coming fintech startups to watch (and Lloyds thinks so too) August 2, 2016 A handful of startups from around the world are hoping to disrupt the big banks with new innovations after being chosen as ones to watch in the world of fintech by one of London's top accelerators and top global businesses. Startupbootcamp's fintech programme, backed by the likes of Lloyds and PwC, have chosen nine new up-and-coming early stage fintech [...]
City Moves for 26 September 2016 | Who’s switching jobs September 26, 2016 RSM RSM has appointed Bart Somerville as a corporate finance director focusing on business and asset valuations based in the London office. Bart joins RSM from BDO where he was a director in the valuation team. Prior to that Bart worked at Deloitte UK for five years and PwC in Toronto for seven years. He’s provided [...]
City Moves for 3 August 2016 | Who’s switching jobs August 3, 2016 Baker & McKenzie Global law firm Baker & McKenzie has appointed Alex Chadwick as managing partner of the London office. The term is for three years, effective from 1 September 2016. Alex, a tax partner, joined Baker & McKenzie as a trainee in 1990 and made partner in 1999. He currently heads the firm's Tax [...]
Many insurers are worried the technology-centric startups will steal their business June 13, 2016 Technology has got insurers shaking in their boots, as research out today shows many are worried technology-focused startups will snatch their business out from under them. The report by professional services firm PwC discovered that almost half (48 per cent) of insurers are concerned that as much as a fifth of their business could be [...]
Olympic Games 2016: Team GB set for medal slump in Rio de Janeiro say economists June 2, 2016 Great Britain’s net medal haul is set to plummet more than any other nation at this year’s Olympic Games in Rio de Janeiro, according to financial services giant PricewaterhouseCoopers (PwC). Team GB’s medal total is predicted to take a bigger hit than anyone else, with PwC forecasting the loss of home advantage being the main [...]