Funding struggles see UK’s small firms resort to personal loans for financing October 24, 2022 UK small business owners are increasingly taking out personal loans to fund their firms due to the troubles they face in securing external capital. More than half (55 per cent) of UK small and medium-sized enterprise (SME) owners have taken out a personal loan to fund their business, research by tech firm Codat shows. The [...]
MPs call for crackdown on advisors enabling tax avoidance schemes October 24, 2022 A group of cross-party MPs have called on the UK government to begin cracking down on the accountants and financial advisors that facilitate tax avoidance schemes. In a new report, the all-party parliamentary group (APPG) on anti-corruption and responsible tax called for the UK’s tax system to be overhauled, to boost growth, increase tax revenues, [...]
Litigation funders warn EU regulation could hinder class-action lawsuits October 6, 2022 UK litigation funders have hit out at EU plans to regulate the sector in arguing the bloc’s proposals to cap fees could prevent class action lawsuits going forwards. The EU’s proposal is clear the litigation funding sector has the potential to support access to justice and help ensure public cases are brought to court, [...]
Your career in finance – what really counts September 30, 2022 | City Talk The finance industry is booming. With the purpose-driven gen-z entering the workplace, the finance industry provides an opportunity to make a difference whilst forging a professional career. The recent Future of Skills report published by CFA Institute digs into the priorities of employers and employees in the investment sector and the challenges the industry currently [...]
£277m financing deal between Quintain and J.P. Morgan to provide new homes at Wembley Park September 28, 2022 A £277m financing deal between development company Quintain and investment bank J.P. Morgan Chase will provide 769 new homes at Wembley Park. 74 percent of Quintain’s two new residential buildings, expected to be completed by early 2025, will be ‘Build-to-Rent’. Shops, cafes, restaurants and a 7-acre park are also in the works. The largest construction [...]
Queen mourning period gave tourism and retail big boost, says payment firm SumUp September 22, 2022 The Queen’s death and funeral may have led to 10 days of national mourning, but it also gave Britain a welcome tourism boost, according to payments firm SumUp. SumUp, which provides 4m small and medium-sized firms and other organisations with payment devices, said the industry experienced a spike in the last fortnight. It released data [...]
London breezes past European rivals to retain finance hub crown September 22, 2022 London has breezed past its Continental rivals to retain the title of Europe’s top financial hub, research shared exclusively with CityAM today shows. The capital’s deep highly-skilled talent pool helped drive it to the top of the European rankings in the 32nd edition of Z/Yen’s global financial centres index (GFCI). The Square Mile has [...]
UK’s financial sector faces new wave of brute force DDoS attacks September 14, 2022 The UK’s financial sector is experiencing a wave of brute force Distributed Denial of Service (DDoS) attacks, new data obtained through a freedom of information request shows. Hackers are increasingly using brute force tactics to launch cyberattacks against the UK’s financial sector, as they pivot away from using phishing and malware scams, the Financial Conduct [...]
Modernising UK’s payment infrastructure could boost economy by £3.27bn, key report says September 1, 2022 Modernising the country’s payment infrastructure could boost the UK economy by almost $3.8bn (£3.3bn), a report issued today has claimed. An in-depth study by Global Data, the Centre for Economics and Business Research (CEBR) and ACI Worldwide, shows the UK’s GDP would hugely benefit if it upgraded its ageing payments infrastructure and increased real-time payments [...]
Financial services firms risk shortages of compliance staff August 30, 2022 Financial services firms around the world are at risk of being hit by shortages of compliance staff due to a surge in the volume of regulatory change. According to a research published today by Thomson Reuters, while 74 per cent of financial services companies expect their regulatory burden to increase in the next year, 61 [...]