We’re staying: HSBC decides to keep its headquarters in London, UK, after an “exhaustive” review process that narrowed it down to the capital and Hong Kong February 15, 2016 Global banking giant HSBC revealed late last night that it has decided to keep its headquarters in London, ending months of uncertainty over whether it would quit the UK and move to a rival financial centre. A statement from the bank called the UK an “important and globally connected economy”, with “an internationally respected regulatory framework [...]
What are your chances of a payrise? Pay growth expectations fall to their lowest point for more than two years thanks to rocketing costs of employing staff, including minimum wage rises February 15, 2016 Businesses believe wages will rise at the lowest rate for more than two years as rising costs of employing staff place pressure on pay packets, according to a report out today. The study by the Chartered Institute of Personnel and Development (CIPD) discovered that companies expect pay for their employees to rise by an average [...]
Let the good times roll: EY Item Club forecasts strong growth for UK financial services February 15, 2016 The financial services industry can expect decent growth over the next few years, a group of forecasters have said today. Mortgage lending, business borrowing and consumer credit are all set to grow at healthy rates over the coming years, as the UK economy shrugs off recent severe stock market declines. However, the EY Item Club said [...]
London house prices: Asking prices hit record high as concerns grow over help to buy eligibilty February 15, 2016 London asking prices reached a new record high in February, property website Rightmove said this morning. Rising prices are making buying a new home difficult for many Londoners even when using the government’s help to buy scheme. Prices in Greater London climbed 5.4 per cent over the course of last month and are 10.5 per cent higher than [...]
CEBR: Stock market rout is not a sign of impending downturn February 15, 2016 This year’s stock market rout is not a sign of impending doom for the world economy, an economics consultancy has said today. Global GDP should grow by 2.6 per cent this year, the same rate as in 2015, according to the Centre for Economics and Business Research (CEBR). China is slowing, not collapsing, the CEBR [...]
Retail footfall bounces back in January to reach two-year high February 15, 2016 Retailers enjoyed their biggest jump in footfall last month in almost two years after disappointing Christmas when shoppers shunned the high street in favour of buying online. Traffic to stores on the high street, shopping centres and retail parks rose by 1.2 per cent in January compared with a year ago, figures from retail analysts Springboard [...]
Here’s why mums go to Iceland: Supermarket beats Tesco, Asda and Morrisons to be named the best online retailer in consumer survey, and boss Malcolm Walker is clearly pleased February 15, 2016 Iceland, favourite of mothers across the nation and anybody else looking for decently priced party snacks they can stock in their freezer, has been voted the UK's best online supermarket. The league table released today by Which? gives Iceland an impressive overall customer satisfaction score of 77 per cent, ranking it above Waitrose, Ocado and [...]
China ramps up patent activity as Europe and the UK fall behind – IAM February 15, 2016 China has cemented its position as the world’s most prolific patent-filer after lodging 928,000 applications in 2014, stoking fears of Chinese patent-holders launching high profile court cases. Patent applications grew by 12 per cent in China between 2013-14 as state-backed financial incentives and higher spending on research saw firms flocking to seek legal protection for their [...]
Guy Hands’ Terra Firma mulls sale of Wyevale Garden Centres February 14, 2016 Guy Hands’ Terra Firma is considering a sale of its garden centre business Wyevale after four years of ownership. The private equity house has already been approached by several suitors and has also held talks with advisers to work on the sale including Goldman Sachs, according to The Sunday Times, citing a price tag of [...]
LFW Autumn-Winter ’16: Who are the London Fashion Week brands to bank on? How share prices for Marks & Spencer, Burberry and Mulberry are shaping up ahead of the the shows February 14, 2016 In a little over four days time, London will be buzzing with trendsetters as Fashion Week arrives in the capital. But, apart from rerouting your commute so it doesn't head through Soho, what does this mean for the average City PM reader? Here's a run down of the business news you need to know for some [...]
