London housing: Mayor of London Sadiq Khan plans to fast-track scores of sites owned by Transport for London to build homes May 16, 2016 After pledging to build new homes on land owned by City Hall if elected Mayor of London, Sadiq Khan has said he intends to fast-track scores of sites for development. During a visit to Landmark Court in Southwark, which is owned by Transport for London, Khan announced that the wants to unlock the site, which [...]
Zac Goldsmith: I will work hand in hand with the government to make our great city greater still May 5, 2016 Eight years ago my friend Boris Johnson walked into City Hall. It was not a good time to win an election. The British economy was careering into the worst recession in living memory. People said London was finished as a global financial centre. But London proved them wrong. Eight years on and business is booming: [...]
How are the alternative finance industry and the $1.6 trillion wealth management market approaching each other? July 14, 2016 If you use an independent financial adviser or wealth manager, they’ve probably never mentioned P2P lending. This might seem strange: there’s been a lot of talk of how the peer-to-peer industry is “moving mainstream”, and volumes reflect that. In 2015, the online alternative finance industry in the UK grew to £3.2bn – an 84 per [...]
Here is how banks can better compete for, and profit from, SME business May 20, 2016 SMEs are the backbone of the UK economy, generating roughly half of all private sector turnover and employing around 60 per cent of the UK workforce, according to the Federation of Small Businesses. For banks, then, addressing the needs and expectations of this fast-growing and influential segment must be high on the agenda. The good news? [...]
What the rise of populism means for your investments October 25, 2016 "Fruitcakes, loonies and closet racists” was how David Cameron described members of Ukip in 2006. A decade later, Ukip has achieved its principal ambition of a Brexit vote and Cameron is no longer a politician. The growth in support for populist political movements across Europe and other developed economies has been rapid. Founded just six [...]
Rent-to-buy business Rentplus secures up to £70m funding as it aims to build 5,000 affordable homes by 2020 April 20, 2016 A new business aiming to build 5,000 affordable homes by 2020 has secured up to £70m in funding. Rentplus said the funds, from BAE Systems Pension Funds Investment Management, will be used to help deliver its first 580 homes. BAE has approved an initial £35m private placing of an inflation-linked bond for the company with a [...]
City Moves for 7 June 2016 | Who’s switching jobs June 7, 2016 Ashurst International law firm Ashurst has announced that Dave Rome, managing director, head of EMEA loan markets at RBS, will be joining the firm as strategic director – corporate lending. Dave has spent over 25 years at RBS and NatWest, working in the UK and Europe as well as spending six years in Asia. In [...]
New EU audit reforms of Public Interest Entities could open up £10bn market for advisers, according to new research June 17, 2016 New EU audit reforms affecting Public Interest Entities (PIEs) that come into effect today could open up a £10bn market for advisers, according to new research from accountancy and business advisory firm BDO. PIEs will be required to tender their statutory audit at least every decade, while mandatory audit rotation will be enforced every 20 years. The directive [...]
Saving no longer as easy as 1, 2, 3: Santander chops interest rate on top account – and now Lloyds is considering a rate change too August 15, 2016 Santander has today confirmed it is slashing interest rates on its popular 1,2,3 account to 1.5 per cent, while Lloyds has revealed it is mulling its options. Santander's change in rate will be effective from 1 November, and it is also making some changes to the overdraft rates. In a statement issued this morning, the bank [...]
UK car manufacturing climbs 13 per cent in February as domestic sales accelerate – SMMT March 24, 2016 February was another month of growth for UK car makers as they continued to buck the trend in the rest of the manufacturing sector. The UK made 146,955 cars last month, up 13.1 per cent on the same month last year, according to the figures released today by the Society of Motor Manufacturers and Traders (SMMT). [...]