British economy picks up momentum in August, growth still below potential, Niesr report shows
Businessam Staff
September 8, 2017
UK economy picked up slightly in the three months to August, albeit still well below potential, according to a macroeconomic forecaster, National Institute of Economic and Social Research. GDP expanded by 0.4 per cent during the period after only managing a 0.2 percent expansion in the three months to July, according to an estimate by the […]
Brexit’s impact more profound than expected as London may lose legal staff, Diamond says
Businessam StaffSeptember 8, 2017
Bob Diamond, the architect of Barclays Plc’s investment bank over more than a decade in London, said the British capital will be hurt more than people expect from Brexit, with lawyers likely to join bankers in moving away. “People are beginning to understand Brexit is going to be far more profound and long-lasting than they […]
Theresa May’s government will collapse in 2018, triggering a fresh general election, Morgan Stanley says
Businessam StaffSeptember 4, 2017
Prime Minister Theresa May’s Conservative government will collapse in 2018 and trigger a fresh general election, according to research from Morgan Stanley. “We think the government survives in 2017, but falls in 2018,” the note, compiled by a team of economists and strategists led by Jacob Nell and Melanie Baker. After failing to win an […]
At £90m (N42.3bn) UK records most expensive home sale on Knightsbridge flat
Businessam StaffAugust 31, 2017
It emerged on Thursday that a four-bedroom penthouse flat in Knightsbridge, London, has been sold for a hefty £90 million, about N42.3 billion at an exchange rate of N470 to the British pound. It is now also on record to be the most expensive residential property transaction ever documented by the Land Registry in the […]
UK to replicate EU’s external trade deals after Brexit, PM May says
Businessam StaffAugust 30, 2017
Britain is looking at ways to replicate the trade deals that the European Union has with countries outside the bloc when it exits the EU in March 2019, Prime Minister Theresa May said Wednesday, according to Reuters’ report. The freedom to strike new trade deals independently of the EU has been highlighted by the government […]
EU workers leave UK on Brexit, forcing immigration to fall sharply in one year
Businessam StaffAugust 24, 2017
More European Union workers are leaving the United Kingdom on account of Brexit vote forcing immigration figures to fall by nearly one third in a period of 12 months, report from the UK’s Office of National Statistics (ONS) has shown. The ONS says around 246,000 net long-term international migrants were in the country in the […]
Employer confidence in UK economy drops amid booming jobs market
Businessam StaffAugust 24, 2017
Employer confidence in the UK economy has dropped, as issues including access to labour and political uncertainty are creating jitters, the Recruitment and Employment Confederation (REC) said today. According to City A.M’s report, confidence has fallen into negative territory, falling from a net positive balance of six per cent last month to a negative reading […]
72,000 managers in London firms could be held personally responsible under new FCA rules
Businessam StaffAugust 23, 2017
The number of senior managers in financial services firms who could be held personally responsible for misconduct has increased to 72,000, according to new research from law firm Cleveland & Co. This comes after City watchdog the Financial Conduct Authority (FCA) announced it would broaden the scope of the Senior Managers and Certification Regime (SMCR) […]
Britain ‘confident’ of new phase in Brexit talks by October
Businessam StaffAugust 17, 2017
Britain said on Thursday it was “confident” talks with the European Union would move towards discussing their future relationship by October, in contrast to warnings from the top EU negotiator that the target is receding. Prime Minister Theresa May’s government wants to push the discussion beyond the divorce settlement soon, to offer companies some assurance […]
Watchdog plans to force UK firms to make anti-corruption, anti-bribery disclosures
Businessam StaffAugust 15, 2017
Britain’s accounting regulator today released plans to force UK firms to make more detailed anti-corruption disclosures in their financial statements. The Financial Reporting Council (FRC) published a consultation on amending guidelines previously issued in 2014 that stipulate what should be in the narrative section of annual reports. The watchdog wants firms to “tell the story” […]