Construction industry breaks records as employment levels climb August 22, 2018 The UK’s construction industry enjoyed bumper levels of employment last year, as the value of new work hit its highest level on record. More than 1.3m construction workers were employed and new work was worth £109m in 2017, smashing pre-crisis levels as a result of private sector growth, according to the Office for National Statistics (ONS). [...]
60 per cent of asset management firms ‘preparing for hard Brexit’ August 21, 2018 Almost 60 per cent of investment management firms are preparing for a hard Brexit "rather than wait for potential political solutions," new figures reveal. A total of 83 per cent of firms have a theoretical plan to respond to the UK exiting the European Union but only 43 per cent have put plans in action [...]
Standard Chartered executive warning over Brexit jobs exodus August 19, 2018 A Standard Chartered executive has warned that more jobs could leave the UK after Brexit. Europe and Americas regional chief executive Tracey Clarke said UK headquartered banks could be forced to move more jobs to mainland Europe than originally planned in a bid to meet banking compliance rules. The bank is planning to convert its [...]
Last Week in the City: Trade fears re-emerge August 3, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (30 July to 3 August 2018). Interest rates were raised in the UK for the second time since the financial crisis, but the move was widely expected. The earnings season continued. Growth in all regions was [...]
StanChart reports profit surge as Winters’ restructuring takes hold July 31, 2018 Standard Chartered has unveiled a 34 per cent rise in pretax profit for the six months to June and issued an interim dividend, as the Asia-focused bank continued to grow its revenue after years of restructuring. However StanChart's share price fell 3.6 per cent on the back of the increasing cost of digitising the bank. [...]
GDPR can rebuild public trust in businesses plagued by high-profile data breaches and privacy scandals May 25, 2018 I’ve been meaning to clean up my mailbox for a long time. Now, suddenly, it seems to be doing this itself. As a consumer, this feels like a welcome bit of help. But its more than that – these emails are a critical part of the UK’s future economic success. The great inbox purge marks [...]
Liverpool sign £160m sponsorship deal with Standard Chartered | City A.M. May 24, 2018 European Champions League finalists Liverpool football club today signed a £160m four-year sponsorship deal with Standard Chartered Bank. The agreement is an extension to Standard Chartered’s current sponsorship of the Premier League club, taking the partnership through to the end of the 2022/23 season. Standard Chartered is a London-listed lender with 1,000 branches across 60 [...]
Analysts pour scorn on rumours of a tie-up between Barclays and Standard Chartered May 24, 2018 Barclays and Standard Chartered? Rarely has a mooted deal been so swiftly dismissed by City analysts. The words “madness,” “mystifying,” and “farfetched” were found in most of the notes distributed by those whose job it is to keep a watchful eye on the sector. And yet the idea exists, in some minds at least, else [...]
The Snooper’s Charter puts UK firms on track for a GDPR headache post-Brexit May 24, 2018 The General Data Protection Regulation (GDPR) becomes binding on all EU member states, including the UK, on Friday. It aims to harmonise data protection laws across Europe, and shift power away from corporations and towards consumers, giving individuals greater control of the personal data held about them. With over 70 per cent of all trade [...]