£60bn is a bargain for Brexit says former BCC boss John Longworth November 28, 2016 A forecast £60bn hit to the UK's finances would still represent a good deal for Brexit, according to former British Chambers of Commerce boss John Longworth. The Office for Budget Responsibility predicted the Brexit blow in figures published as part of the Autumn Statement, warning the UK would have to borrow £60bn over five years [...]
City Moves for 24 October 2016 | Who’s switching jobs October 24, 2016 Good Energy Group Aim-quoted renewable energy company Good Energy Group has appointed Neil Pidgeon as its investor relations manager. Neil brings 30 years of City stockbroking and investment banking experience to the management team of the vertically integrated green energy supplier, whose mission is to tackle climate change, and help the UK achieve energy security. He [...]
Property interview: Melissa York speaks to CEO Fredrik Korallus of upstart hostel brand Generator about breaking America January 13, 2017 From the way chief executive officer Fredrik Korallus talks about his hostel group Generator, you’d think he was heading up a trendy Shoreditch club night. He speaks about “having the right art, the right music, the right culture” and even aspires to turn the £20-a-night shared accommodation hubs into “living art centres”. But exceeding expectations [...]
It’s unanimous: Bank of England keeps interest rates on hold at 0.25 per cent December 15, 2016 The Bank of England's monetary policy committee (MPC) has unanimously voted to hold interest rates at 0.25 per cent. However, the MPC warned a slowdown in growth was still likely following the Brexit vote, although it added inflation will not rise as much as it had forecast. In minutes of its December meeting, it added [...]
A major Apple supplier has US investment plans hot on the heels of SoftBank December 7, 2016 Foxconn, a major supplier of parts for Apple's iPhones, is following the lead of Softbank and is considering plans to invest in the US. President-elect Donald Trump tweeted that SoftBank, the Japanese company which snapped up UK tech firm Arm in a £24bn deal over the summer, will plough $50bn into the country and create 50,000 new jobs. [...]
Let’s leverage Britain’s heritage as a great trading nation to lead the world in free trade again November 17, 2016 Britain has a trading legacy that few countries can rival, for hundreds of years sitting at the heart of global maritime trade, with our ports serving as a marketplace for the world. To many, this is just a legacy, alongside other traditional British hallmarks such as bowler hats and red phone boxes. But the truth [...]
Here’s exactly what the £2bn boost for UK R&D entails November 23, 2016 More cash will be ploughed into research and development, as a major part of the government's industrial strategy. R&D spend will increase by an extra £2bn by 2020/21 to boost the UK's homegrown innovative businesses and spur productivity. The injection of cash was first trailed by Prime Minister Theresa May during a speech at the CBI conference [...]
Jaguar Land Rover appoints Chinese director to board as it gears up for boost in production in China December 6, 2016 Jaguar Land Rover has its sights set on bolstering its presence in China, with the appointment of an executive director for China. Qing Pan will be joining the board from 1 January 2017 in the new role, where he will lead JLR's business in the country. He previously worked at VW and Audi, and will also [...]
Letter: Entrepreneurs urge government to consider access to tech talent after Brexit October 18, 2016 Entrepreneurs at the UK's fastest growing startups have signed an open letter urging government to consider the tech industry's need to access international talent in the wake of Brexit. Dear Editor, Britain’s digital industries are expanding at an extraordinary pace, creating jobs and contributing some £161bn in turnover to the economy. Companies like Just Eat, Mimecast, Shazam, Skyscanner, Mimecast and [...]
Insurance premium tax rises to 12 per cent from next June. And it will be consumers that are hit worst, say insurers November 23, 2016 The rate of insurance premium tax will rise from 10 per cent to 12 per cent from next June, Chancellor Philip Hammond announced in the Autumn Statement. The rise will be the third hike since last November 2015 and means insurance premium tax will have doubled from six per cent to 12 per cent in just [...]