Step inside: Visa opens doors to its biggest ever innovation centre in London February 21, 2017 Visa has launched a fresh bid to boost its reputation for innovation with the launch of a new centre in London to "build the future of payments" – from banking via voice assistant to shopping in virtual reality. The 1,000 sq ft centre at its headquarters in Paddington will foster collaboration between Visa and its clients, partners and [...]
How businesses reacted to the Heathrow decision October 25, 2016 It's taken a while, but businesses have welcomed the news that Heathrow expansion today got the go-ahead from the government. The IoD: "The Davies Commission process set up a false choice between Heathrow and Gatwick" Dan Lewis, senior adviser on infrastructure policy at the Institute of Directors, said: "Business will welcome the fact that the [...]
David Davis warns against using Brexit to disrupt “fragile” European markets October 20, 2016 David Davis, the Brexit secretary, has warned against using the departure from the EU to disrupt the City of London, for fears it could have a knock-on impact on "fragile" European markets. Speaking in the House of Commons this morning, Davis said it was "not going to be in the interests of either side, either Britain [...]
Bank of England keeps interest rates flat – but says there are limits to how much above-target inflation can be tolerated November 3, 2016 The Bank of England kept interest rates flat as it revealed ramped-up forecasts on inflation and growth today. But the the Monetary Policy Committee (MPC), which met yesterday and voted unanimously to keep rates at 0.25 per cent, has indicated “there are limits to the extent to which above-target inflation can be tolerated”. The increased [...]
Zoopla’s share price edges upwards as it announces operating profit will be at the top end of expectations September 8, 2016 Online property portal Zoopla – a favourite among those who enjoy window-shopping for homes – said today that its operating profit will come out at the top end of its expectations this year. Zoopla's share price edged up 1.5 per cent in early morning trading on the news. The company owns several of the UK's digital platforms, including [...]
Big data should be used to discriminate on motor insurance premiums, says FCA chief executive November 22, 2016 Insurers should use big data to identify and reward good drivers, according to the head of the UK's financial watchdog. Speaking today at the Association of British Insurers' (ABI) annual conference, Financial Conduct Authority (FCA) boss Andrew Bailey said the "revolution in our ability to capture and use information" should be encouraged by regulators in certain [...]
The UK construction sector looked stronger in October November 2, 2016 Output in the UK's construction sector rose in October, thanks to another "solid" increase in the residential building sector. The Markit/CIPS purchasing managers' index for the construction sector rose to 52.6, up from 52.3 in September. Any figure above 50 denotes growth. The rise was driven by activity in the housing market, but the figures suggested [...]
Bankers urge Hammond to push for transition periods ahead of Autumn Statement November 13, 2016 Bankers are calling on the chancellor to push to secure important rights post-Brexit ahead of his first Autumn Statement later this month. The British Bankers' Association (BBA) has used its Autumn Statement submission to urge Philip Hammond to provide further clarity on transition periods and a more transparent negotiating timetable. "The outcome of the referendum vote has generated [...]
Theresa May has vowed silence on the government’s position on Single Market membership September 7, 2016 Prime Minister Theresa May has vowed silence on the UK's Brexit negotiations, despite pressure from MPs to clarify the government's stance on Single Market membership. Addressing the House of Commons today, May said she would not provide commentary on talks with the EU. “We will not take decisions until we are ready. We will not [...]
Barratt has taken “pricing action” on high-end homes in London as weak demand begins to bite November 16, 2016 Not long ago, housebuilders were all clamouring to get a slice of London's high-end property market. Not any more: today Barratt said although sales have been strong, demand in the capital has weakened. The figures First, the good news: in a trading update ahead of its shareholder meeting today, the housebuilder said total forward sales [...]