As the Bank of England launches an accelerator, will fintech transform central banking as much as other financial services? June 20, 2016 Nick Bouch, financial services data leader at PwC, says Yes. The rapidly changing tech landscape raises a challenge to central banks to keep pace with the sophistication of the economic activity they govern. With the rise of blockchain, cloud, mobile and robotics, economic activity is shifting at an ever increasing pace from physical to digital. [...]
Top City advisers to be grilled by MPs in wake of BHS collapse May 15, 2016 A string of top City advisers are set for a grilling over the BHS fiasco after being called to give evidence in front of MPs. The business, innovation and skills committee is currently running an inquiry into the sale and acquisition of BHS, which kicked off last week with a joint hearing alongside the work [...]
How drones have opened up a whole new world for insurers June 13, 2016 The popularity of drones could drive growth in some sectors of the insurance industry, one City law firm has said today. According to RPC, the new technology is increasing the demand for specialist drone insurance, which providers operators with cover that may not be available under traditional public liability policies. "Major issues do remain to be resolved for insurers – [...]
Brands and ad agencies need to pay more attention to the way their talent perceives them July 4, 2016 Between the glasses of rose and glimpses of Will Smith, advertising agencies and brands at Cannes this year were discussing the benefits of building meaningful, purposeful brands to engage with their customers. In one of our sessions during the International Festival of Creativity, marketers were discussing how brands and media agencies are coming up short [...]
London must shake off its complacency over housing and infrastructure if it’s to thrive post-Brexit October 31, 2016 Rarely has a ranking of the world’s greatest cities been released in the past few years without London at its top, or very near it. PwC recently named the capital the world’s best city for opportunity, praising its economic clout, its attractiveness to foreign direct investment, its highly skilled workforce, and its status as a [...]
City watchdog tells finance sector it’s business as usual for regulation post-referendum until government says otherwise June 24, 2016 The City watchdog has told the financial sector it should carry on complying with regulation as usual, until government decides otherwise. The Financial Conduct Authority (FCA) has today acknowledged that the decision to leave the EU has "significant implications for the UK", particularly given the sheer amount of financial regulation in the UK that originates [...]
Brace yourself: Brexit could put 100,000 financial services jobs on the line, a report out today has found April 14, 2016 A vote to leave the EU on 23 June could put at risk thousands of financial services jobs, as businesses delay investment or funnel it into cities overseas, a report out today warns. The report, which was commissioned by TheCityUK and carried out by PwC, discovered that up to 100,000 jobs could be lost from the [...]
City Moves for 23 June 2016 | Who’s switching jobs June 23, 2016 CMS Anna Burchner has been promoted to a partner in law firm CMS' London tax team. Anna has been a senior associate in the tax team since 2005 and is noted for her expertise in both international and domestic tax, particularly funds and financial services related work. She has significant experience on the tax structuring of high-value, multi-jurisdictional [...]
It’s only Logicor: Private equity firm encouraged to float warehouse company in London May 22, 2016 The private equity owner of a commercial landlord giant is being encouraged by banks to float the business in London. City A.M. understands Blackstone has yet to decide whether to make an initial public offering (IPO) on Logicor, the owner of 600 warehouses. The flotation, which would be expected to value the company at more [...]
George Osborne accused of ignoring the deficit as government borrowing remains high June 21, 2016 The government's cash shortfall edged down slightly in May, though not enough to put a significant dent in its still-hefty budget deficit. Public sector net borrowing – the amount the government has to borrow to cover the difference between its income and spending – was £9.7bn in May, four per cent down on the same [...]