Business
Murdoch’s Fox offices raided by EU antitrust watchdog over broadcast “cartel”
The European Commission (EC) have confirmed that they raided UK offices of Rupert Murdoch's 21st Century Fox Inc as part of an investigation into "companies involved may have violated EU antitrust rules that prohibit cartels and restrictive business practices.” The raid could not come at a worse time for the Murdoch group which for a long time has been trying to take over European broadcaster Sky Plc. Bloomberg report that the media mogul “has offered to spin off Sky...
Banks commit to launching new European Union hubs in Frankfurt as Brexit looms
Nearly 20 banks have committed to launching new European Union hubs in Frankfurt since the Brexit vote with a further 60 firms still in the decision process. According to the economy minister for the state of Hesse, where Frankfurt is situated, the city is confident it will become home to many financial institutions fleeing Britain in the wake of the Brexit vote. Several big banks like JP Morgan and Goldman Sachs have already made their location decisions, with a swathe of...
Everyone should read the Migration Advisory Committee’s first report into the UK labour market and Brexit to dispel some dangerous myths
Despite the atmosphere of fear created in the Brexit debate: European workers in general do NOT take British jobs. They do NOT drive down wages or undercut minimum wages. They are less inclined to come to the UK in the current climate. Our economy is set to suffer if fewer arrive to work here. This could also lead to shrinking populations in some regions of the UK. The Migration Advisory Committee (MAC) interim report into the effects of Brexit on...
50,000 UK importers have seen profits fall by an average of 12% since EU vote
An estimated 50,000 importing businesses across the UK were negatively impacted when the pound dropped 20 per cent against the euro in the aftermath of the EU vote – with the average importer seeing their profits fall by 12 per cent over the past year, new research has revealed. With this week marking one year to go until ‘Brexit Day’ (when Britain ends its membership of the European Union at 23:00GMT on Friday 29 March 2019) a study from global...
Reasons to Invest in Amazon Shares to Gain Significant Profits in Future
Amazon.com is a mammoth company with $571 billion as market cap. On S&P 500, its shares are the 4th largest and still going persistently. Below are good reasons why Amazon shares are good as long-term investment. Amazon is piloted by its founder Amazon was launched on 1994 by CEO Jeff Bezos. He is very passionate about his company and obviously takes good care of its performance than non-founder CEO’s can. Surveys have studied that companies led by founders have a...
Women in banking face a ‘double glass ceiling’
Women in banking face a ‘double glass ceiling’; one when being promoted to management and another when being promoted to executive roles, according to new research from the SKEMA Business School Observatory on the Feminisation of Companies. Although women make up 52 per cent of banking sector employees globally, they average only 38 per cent of middle managers and 16 per cent of executive committees. These are the findings of Professor Michel Ferrary’s ‘Gender Diversity in the Banking Industry’ report,...
Damning study reveals 1 in 7 EU companies are moving supply chain out of UK
A damning study has raised more serious questions about the benefits of Brexit after it was revealed one in seven EU companies with UK suppliers has moved part or all of their business out of Britain. A survey of over 2,000 supply chain managers by the Chartered Institute of Procurement and Supply (Cips) showed that commercial links have already been heavily disrupted as part of the Brexit process, with a third of UK suppliers forced to increase their prices because of a weaker...
Young people more likely to set up their own small business “than any other age group”
Young people are now more likely to set up their own small business than any other age group. According to new research almost 69 per cent of new businesses set up in the past five years were started by those aged between 18-34. And 27 is the age Brits are most likely to take the risk of starting a company by themselves. Gary Turner, MD and co-founder of Xero, which carried out the study, said: “Small business owners don’t always...
Research unearths shocking stories of London business owners forced out of their premises because of spiralling rents
New research has unearthed a series of shocking stories of London business owners who have been forced out of their premises because of spiralling rents, with one committing suicide after a 200 per cent rent increase. 230 small businesses have united to call on London politicians to join them in confronting the capital’s affordable workspace crisis. Members of the East End Trades Guild will meet the Hackney and Tower Hamlets mayors on Tuesday and ask them to commit to their agenda....