Costs rise and margins fall on the back of the weaker pound according to a survey of 1,500 businesses by the BCC February 6, 2017 The recent fall in the value of sterling is increasing the cost base of UK businesses and squeezing sales margins, according to the British Chambers of Commerce’s (BCC) latest International Trade Survey published today. More than two thirds of the 1500 businesses surveyed in conjunction with moneycorp expect the fall in the value of sterling [...]
Renminbi continues two-day rally as China’s government steps in to limit capital outflows January 5, 2017 China’s currency continued its sharp two-day rally on Thursday as investors react to the prospect of tighter government controls on capital outflows announced at the end of last year. China’s renminbi has sharply jumped off lows approaching Rmb7 to the dollar as traders and businesses rush to secure the currency outside of the country. Renminbi has [...]
January transfer window 2017: Weak pound prompts Premier League clubs to shop domestically as foreign imports fall January 31, 2017 Premier League clubs felt the impact of a weaker pound this January transfer window, increasing their incentive to shop domestically rather than abroad. For the first time in four transfer windows, less than half of the players signed by Premier League clubs came from foreign leagues. Well over £100m was splashed out on players already based [...]
Xi Jinping in Davos: “No one will emerge as a winner in a trade war.” January 17, 2017 Chinese president Xi Jinping used his first appearance at the World Economic Forum to mount a robust defence of globalisation. “It is the result of growing social productivity and is the natural outcome of scientific and technological advances”, Xi said in the forum’s Opening Plenary. “It is not something created by any individuals or any [...]
Exclusive: West Ham transfer boost as club signs up forex and payments provider TransferMate December 20, 2016 West Ham will today announce a deal with global payments company TransferMate that the club believes will give them a significant advantage when buying and selling players. The multi-year agreement sees TransferMate become West Ham’s exclusive foreign currency provider, meaning the club can expect to benefit from better exchange rates and lower bank fees in [...]
UK commercial property remains at risk of further losses says Bank of England December 6, 2016 The UK’s commercial real estate sector remains at risk of further losses according to the Bank of England (BoE), as the vote to leave the European Union continues to leave its mark. The BoE’s Financial Policy Committee (FPC) said “there was the risk of further adjustment in the sector” which could create knock-on risks for [...]
City Moves for 27 February 2017 – who’s switching jobs? February 27, 2017 Today's City Moves cover legal eagles, market strategy and insurance. Take a look at these movers and shakers: Dorsey & Whitney LLP Employment law specialist Bob Cordran has joined international law firm Dorsey & Whitney’s London office as a partner. Bob, formerly a partner at Marriott Harrison LLP, is an experienced employment lawyer who has [...]
Protectionism is raising risks to companies’ global supply chains February 14, 2017 Protectionism and macroeconomic uncertainty have increased the risks to the world’s supply chains to the highest level in 24 years, according to an index tracking world trade. The index grew to a record high as Western Europe saw risks to the world economy’s globalised structure increase markedly, according to economists at Dun & Bradstreet. Companies [...]
UK small businesses aren’t prepared for foreign exchange volatility if the Federal Reserve raises rates in December December 14, 2015 UK SMEs are unprepared to deal with currency volatility if the Federal Reserve raises rates in December. While 88 per cent of small business owners said they understood the potential impacts of a US rate rise on currency markets, 70 per cent felt their business needed to be better prepared to deal with exchange rate [...]
Productivity puzzle remains for economists despite UK growth in third quarter of 2016 January 6, 2017 The UK is still struggling to increase the amount it increases per worker as economists wrestle with a continued “productivity puzzle”, new official data shows. Labour productivity, measured by the amount the UK produced per hour, grew by only 0.4 per cent in the third quarter of 2016, representing a flat rate of growth, according [...]