Worst quarter in three years for UK dividends October 14, 2019 UK dividend payouts have plummeted to their lowest level in three years as storm clouds gather over the global economy. Underlying dividends paid out to shareholders by UK firms tumbled almost three per cent in the third quarter on a constant currency basis – independent of foreign currency movements – the worst quarterly performance in [...]
Hire dyslexic people to cover skill shortages, says report October 14, 2019 Hiring dyslexic people will help companies cover skills shortages as workplaces become increasingly automated, according to a new report. People with dyslexia possess “specific strengths” that will be increasingly in demand as companies adopt technologies such as machine learning, say EY and charity Made by Dyslexia. Read more: Job losses mount as no-deal Brexit fears [...]
UK financial services firms leading the way on automation October 14, 2019 Financial services firms in the UK are integrating robo-advisers into their ranks faster than their global competitors in a bid to harness the technology to retain customers – or poach new ones, new research has found. While 37 per cent of UK financial services firms surveyed have implemented robotic processing automation (RPA) – a technology [...]
St James’s Place partners threaten rebellion over cancelled cruises October 13, 2019 Partners at wealth manager St James’s Place (SJP) have threatened to stop selling investments for the rest of the year unless they are offered compensation for the loss of their annual cruise holiday. Chief executive Andrew Croft promised to make changes to the lavish incentive scheme offered to SJP partners – which offered rewards ranging [...]
Property giant Land Securities eyes £650m sale to fund real estate expansion October 13, 2019 Property giant Land Securities is reportedly close to selling a £650m stake in a leisure portfolio to private equity property investor CIT Partners. Land Securities is understood to have agreed to sell its 95 per cent share of the X-Leisure Unit Trust – which is behind developments including Xscape Milton Keynes and Brighton Marina – [...]
Government issues £10m in ‘Brexit readiness’ grants to business organisations October 11, 2019 The government is to issue £10.1m in grants to 124 business organisations to help them prepare the firms they represent for the UK’s departure from the European Union on 31 October. The grants will be issued by the Business Readiness Fund, which was launched to support trade associations and other business organisations in helping firms [...]
No-deal Brexit tariffs would jeopardise our Europe business model, says Nissan October 10, 2019 Tariffs introduced in the wake of a no-deal Brexit would make Nissan’s business model in Europe unsustainable and put the future of its Sunderland plant in jeopardy, the carmaker has warned. Nissan’s European chairman, Gianluca de Ficchy, said the imposition of WTO tariffs of 10 per cent on vehicles would threaten “the entire business model [...]
Government criticised for refusal to extend financial watchdog’s remit October 10, 2019 The government has been criticised for refusing to back a policy that would allow the financial regulator to recommend changes to its remit after the chair of the watchdog warned that regulatory loopholes were being exploited by “bad people”. In a report released in August, the Treasury Select Committee (TSC) had recommended the Financial Conduct [...]
Merian Global agrees first acquisition since spinoff October 10, 2019 Merian Global Investors has agreed to acquire Kestrel Investment Partners’ multi-asset business, in its first acquisition since its management buyout from Old Mutual in June last year. The acquisition will boost Merian’s £26.4bn of funds under management with Kestrel’s $151m (£123m). Read more: Investment firm responsible for £1bn assets goes into special administration Kestrel’s entire [...]
Danske Bank begins hiring freeze to meet costs associated with money laundering scandal October 10, 2019 Danske Bank has initiated a hiring freeze on non-critical positions in a bid to meet rising compliance costs related to its involvement in a money laundering scandal. “The hiring freeze comes after we’ve seen higher compliance costs and costs related to our anti-money laundering efforts,” a spokesperson for the bank said. Read more: Former head [...]