A new study by insolvency trade body R3 has revealed that 1 in 8 Scottish adults were victims of fraud last year. This is higher than the national UK average of 1 in 9 people being hit by fraudsters, and second only to London where 1 in 6 people were hit. R3 had previously described […]
Taxpayers in the UK are working two days longer on average in 2015 than in 2014 before they stop paying taxes and start earning for themselves, warns ACCA (the Association of Chartered Certified Accountants). Tax freedom day – calculated annually by the Adam Smith Institute – falls on 31 May. The date at which tax […]
Data released by the Office for National Statistics showed that retail sales volumes increased by 1.2% in April, the strongest monthly increase since November 2014. The increase in activity seen over the past 12 months means that sales volumes in April were 4.7% higher than a year ago. Consumers appear to have hit the high […]
Data from Worldpay, the UK’s leading payments processor, reflects a significant shift in the way British consumers are paying for goods, with High Street credit and debit card transactions rising just over 6% in 2014, following similar gains the previous year. Londoners are responsible for the single biggest year on year rise in card spending. […]
The Financial Conduct Authority (FCA) has imposed a financial penalty of £284,432,000 (€400 million) on Barclays Bank Plc (Barclays) for failing to control business practices in its foreign exchange (FX) business in London. This is the largest financial penalty ever imposed by the FCA, or its predecessor the Financial Services Authority (FSA). Barclays’ failure to […]
There have been some interesting movements in the European government bond markets over the past 6 months, ranging from incredible negative yields on 10 year Swiss bonds through to almost 14% yields on Greek bonds. The percentage yield on ten year government bonds (effectively, a measure of the cost of borrowing for governments), as reported […]
New lending to commercial property increased by over fifty per cent and reached a six-year high in 2014, as non-traditional lenders entered the commercial real estate (CRE) market at record levels. The value of commercial property loan originations soared to £45.2 billion at year-end 2014, the highest figure since new lending reached £49.82 billion in […]
Tax transparency is becoming the new norm as the OECD, European Commission and national governments demand more data from businesses. However, many companies do not have systems or resources in place to meet new requirements, according to EY’s report, entitled ‘A new mountain to climb: tax reputation risk, growing transparency demands and the importance of […]
H.M. King Abdullah II Ibn Al Hussein of the Hashemite Kingdom of Jordan opened the World Economic Forum on the Middle East and North Africa, reaffirming his commitment to reform and investment to achieve regional prosperity and peace. “It is time for a new push, engaging all sectors, to create inclusive growth,” he said. “Our […]
The UK challenger banking sector is outperforming the ‘Big Five’ UK high street banks, however, the Large Challenger banks need to accelerate how they stand out in the market, according to a new KPMG report. The new annual report, The Game Changers, analyses the full-year results of some of the largest UK challenger banks, grouped […]
May has seen the largest fall in sentiment towards UK asset classes since November 2014, according to the monthly Lloyds Bank Private Banking Investor Sentiment Index. With eight out of ten asset classes recording a drop in investor sentiment, UK shares saw the biggest decline, falling 11 percentage points (-11pp) from April to 26%. UK […]
The average holding period for private equity-backed buyout deals hit a record high in 2014, but has seen a notable drop for companies exited so far in 2015, according to the latest data from Preqin. The average time that private equity firms have been holding buyout investments in their portfolio has been rising year-on-year since […]
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