Business and Economics

A new report has revealed a cultural change in banks may take a generation, with the cost of poor culture far exceeding previous estimates. British retail banks and building societies have paid out at least £38.5 billion in fines and redress for customers over the last 15 years, with at least £27 billion of that due to the mis-selling of PPI. Poor culture also resulted in poor customer service, with banks have receiving 20.8 million complaints between 2008 and the first half of 2014, and 25 million between 2006 and...

By Joe Mellor, Deputy Editor Guardian and Observer readers have just voted Newcastle the best city in the UK. Well there is even more good news; Tyneside is becoming an ever popular choice for businesses taking up office space. Instant Offices sees the city of Newcastle as a prominent growing hub for UK businesses. With university graduates choosing to stay in the bustling city rather than migrate to London, and organisations such as NE1 lobbying for business growth and securing...

By J T Coombes    www.globalmagnacarta.com    @GMagnaCarta Many years ago I had a bank manager as a next door neighbour. He was a lovely man, a bit like Captain Mainwaring in Dad’s Army, who cared about people but without the pomposity. After he retired we began to see the closure of bank branches and the centralisation of banking services. When I asked his view on these changes he said that we were now witnessing the end of banking in...

London is a hub of roller-coaster house prices, new research has revealed, with the cost of a house per square foot varying by hundreds of pounds across the boroughs. Property buyers searching around Hounslow can expect to pay just £338 per square foot on average, while those with their hearts set on a home in Kensington and Chelsea should prepare to shell out £1,008 per square foot, reveals national housing and regeneration specialist, Keepmoat. Comparing Kensington and Chelsea and Hounslow...

Open-office plans are all the rage today. As companies occupy old warehouses with big open spaces the notion of having everything in the open has become quite appealing, and it can also make good business sense. Rather than having everyone stuffed into cubicles and behind office doors, open-office spaces have been found to be conductive to a creative environment and ripe for collaboration and a free exchange of ideas. One survey found 81 per cent of respondents said they believed...

This week is Road Safety Week and to commemorate the occasion Trusted Dealers has launched a new resource that breaks down nearly a decade and a half of figures about road safety in the UK – including accident rates, motoring offences, number of vehicles on the roads and traffic police levels. Data Drive uses official statistics taken from between 2000 and 2013, divided into four areas related to road safety. This information is displayed as a line graph that shows the rise and...

By Jack Peat, Editor of The London Economic  I'm not one to blow my own trumpet, but I've long championed the use of more natural tonics as spirit mixers. For years on end I'd watch punters muse over which overpriced gin to taste from behind a bar only for them to ask for a sugar heavy, artificially flavoured Schweppes mixer to overpower it. Philistines, I thought, but it's their cash, not mine. Thankfully, this weekend I found long awaited solace...

By David Rowsell, head of Money for Life Programme, Lloyds Banking Group Parents are their children’s first financial educators – teaching them how to spend or save and how money is earned. Financial behaviours and decisions – both good and bad – have a powerful influence on children’s financial attitudes and behaviour around money. Recent reports, compiled by family welfare charity, Home-Start, have found that around a third (31 per cent) of adults believe it to be inappropriate to include...

By Cecily Watret International business means becoming accustomed to new languages and the role they play in the corporate environment. Overcoming this language barrier can be quite a daunting task, which is why The Language Factory has created a new infographic focusing on five of the top languages in business and incorporating some interesting facts about the languages and the countries in which they are spoken. To give you a brief overview: German is on the rise in the US of A You...