At the close: Bank holiday starts early for the London markets on flat day in the City May 27, 2016 Friday's are always slightly slower in the Square Mile. None more so than on a sunny afternoon on a bank holiday eve. The markets, characteristically, were static. The FTSE 100 closed down 0.1 per cent at 6,258.06, but volumes plummeted, with the number of shares swapping hands around half its usual level. The slow day [...]
Google’s Apple Pay rival Android Pay is finally here in the UK May 18, 2016 Good news for anyone eager to pay using just the swipe of their mobile, but who doesn't own an iPhone. Google's Android Pay is launching in the UK today, bringing the tap and pay technology to millions of smartphone users across the country. A rival to Apple Pay which launched last year, the app lets users pay by [...]
At the close: Just as things settle down Carney makes sure everyone’s still on their toes June 30, 2016 Just as the political situation had stolen the limelight from the markets in the aftermath of the UK's vote for Brexit, Mark Carney grabs it back. Carney, the governor of the Bank of England (BoE), told markets earlier this afternoon to expect a cut in interest rates as he warned the economy was in for a period of [...]
City Moves for 17 June 2016 | Who’s switching jobs June 17, 2016 PwC Andrew Kail has been appointed as leader of PwC’s UK financial services practice, succeeding Kevin Burrowes who is joining PwC’s executive board as head of clients & markets. Andrew has over 25 years of experience with PwC, having operated in a variety of financial services roles, most recently as head of the FS Assurance [...]
How Edinburgh is driving the fintech revolution August 14, 2016 According to recent figures published by Innovate Finance, global investment in fintech has rocketed from $930m in 2008 to $12.5bn in 2015, with recognised tech clusters such as Edinburgh supporting London’s global dominance. Fintech is, to coin a phrase, white hot right now. It’s not only empowering new start-ups with the ability to launch disruptive [...]
At the open: FTSE 100 slips back after strong start to the week April 29, 2016 The FTSE 100 is finishing the week on the back foot as a series of disappointing trading updates weighed on the markets this morning. The benchmark index sank by one per cent on the open and stood at 6,262 in the first hour of trading – wiping off gains made earlier in the week and putting the [...]
Say what? EU referendum week gets off to a stonking start as sterling and FTSE close higher – pushed up by banking and housebuilding shares June 20, 2016 Investors may have been bracing themselves for a disastrous pre-referendum week – but things got off to a pretty good start today, with sterling hitting its highest since May, and banking shares bouncing back after a less-than-impressive performance last week. The FTSE 100 closed three per cent per cent higher – soaring above 6,000 points to hit 6,204. Meanwhile, the pound [...]
Discover in one click: the UK’s second biggest foreign direct investment area next to London December 12, 2016 As the UK's second largest financial sector, Scotland is helping to lead the charge for Foreign Direct Investment (FDI). Sharon Hamilton, SDI’s head of financial and business services, explains why. We’ve heard the term ‘open for business’ a great deal recently. It’s a reassuring phrase traditionally used by your local corner shop, hairdresser or café, and has [...]
Shell mulls offshoring its legal eagles to cut costs June 6, 2016 Shell is considering offshoring its legal centre in a bid to cut costs and improve efficiencies, it was revealed today. "We are operating in the reality of a 'lower for longer' oil price environment and to remain competitive, Shell is taking essential steps towards building a more sustainable and resilient company," said Donny Ching, Shell's legal director. "Shell's [...]
Why could digital tech reach over $2.7 trillion by 2020? January 30, 2017 Whether it’s big data, artificial intelligence (AI), cloud storage or cyber security, the effects of digital technology development are all around us. Recognised as the third industrial revolution, we are experiencing one of the most transformative periods in history. Digital – transforming our industrial society In 2001, a group of software developers met at the [...]