Accountants’ bonus pool rises by five per cent May 11, 2015 Alright, so Tesco may have dumped PwC – but it's still a good day to be an accountant, after new research showed those working in the sector will get a share of almost £1.2bn this year, five per cent higher than the £1.1bn shared this time last year. The research, by finance recruiter Marks Sattin, [...]
City Moves for 12 June 2015 | Who’s switching jobs June 11, 2015 Standard Chartered Anju Patwardhan has joined the bank in the newly-appointed role of chief innovation officer. Patwardhan will become a member of the Standard Chartered’s technology and operations management group, and will oversee SC Studios, the bank’s innovation outpost in San Francisco. The experienced banker brings more than two decades of international financial services experience. [...]
What leaders can learn from social activists May 13, 2015 Support for your cause depends on getting the right people on board. Social movements vary in size and scope, from the civil rights movement and the Arab Spring to small petitions seeking to rescue a local business or service. But they all have one thing in common: they’re led by individuals who are able [...]
Keydata owner pledges to fight FCA after £75m fine May 26, 2015 The bitter wrangle between the Financial Conduct Authority (FCA) and Keydata reached boiling point yesterday as both sides promised legal action to decide the long-running dispute. The financial regulator announced it is seeking record fines against three former managers of the investment service, claiming the company mis-sold complex products known as “death bonds” to consumers. [...]
Google’s Larry Page, American Express’ Ken Chenault, Three’s David Dyson: These are the UK’s top-rated chief executives, as voted for by their employees June 10, 2015 It's a tough business, being a chief executive these days – so a little bit of love from their employees never goes amiss. Now recruitment site Glassdoor has unveiled its list of the UK's highest-rated chief execs. Alas, the top-rated guy isn't even based here… The list, which is based on approval by their employees, [...]
July Budget 2015 – changes to mortgage tax relief: Here’s what to do now if you’re a buy-to-let landlord July 8, 2015 A major shake-up of the buy-to-let housing market could be about to take place, after chancellor George Osborne announced plans to change mortgage tax relief for landlords. In his Budget speech today, the chancellor said the relief will be cut to 20 per cent, from 40 to 45 per cent, in an effort to "level [...]
Plus500 share price gains as company defends “sustainable business model” May 27, 2015 Plus500's share price has risen by more than seven per cent in morning trading after the firm insisted it had a "sustainable business model" in a statement to the stock exchange. The Israeli-based spreadbetter is holding its annual general meeting today where it is expected to give further details about how recent freezes on some its [...]
Bank junction could still be pedestrianised, as City of London insists “plans not shelved” June 24, 2015 Plans for an overhaul of Bank junction – which could include complete pedestrianisation – have “not been shelved”, the City of London Corporation insisted today. Proposals will be put forward in a couple of months that will outline three possible designs for the junction: one will be fully pedestrianised, one partial and one a [...]
George Osborne needs a long-term plan for taxation July 6, 2015 “Don’t tinker with taxes” is a consistent cry from business. True, few will bemoan a change that benefits them, but it’s hard to overestimate how much firms value certainty in their tax affairs. It’s difficult to plan ahead if you don’t know what your costs are likely to be. Yet we now effectively have two [...]
New FCA and PRA bonus clawback rules: The UK now has the toughest bank pay rules in the world June 23, 2015 New rules to claw back bankers’ bonuses for up to 10 years threaten to undermine London’s appeal to international financiers, consultants warned yesterday, in the latest salvo against big banks from UK regulators. Read more: Bank bonus clawback extended to 10 years by UK regulators The clawback rules comes amid growing tensions between [...]