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Unilever: UK's third biggest company scraps plans to move HQ from London to Rotterdam

08 October 2018

Unilever, Britain’s third biggest company, has abandoned plans to move its headquarters out of the UK amid mounting opposition from investors.

The Anglo-Dutch consumer goods giant said it was scrapping proposals to consolidate its corporate structure in the Netherlands.

The announcement on Friday followed weeks of pressure from major shareholders in the company, which owns household brands including Marmite, Dove and Ben & Jerry’s.

In a statement, Unilever said: “We have had an extensive period of engagement with shareholders and have received widespread support for the principle behind simplification. However, we recognise that the proposal has not received support from a significant...

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London Luxury Homes Face New Hit as U.K. Plans Foreign Buyer Tax

01 October 2018

Britain’s high-end and luxury homebuilders face a squeeze as Prime Minister Theresa May prepares to impose higher taxes on foreigners looking to buy properties in the U.K.

Overseas buyers account for roughly half of all residential transactions in central London, according to Faisal Durrani, head of research at property consultants Cluttons LLP. Berkeley Group Holdings Plc, the homebuilder with the most exposure to the U.K. capital, fell the most among its peers in London trading on Monday.

U.K. developers are already grappling with sluggish demand amid the nation’s messy divorce from Europe, a cooling property market and prospects of higher interest rates....

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Bubble trouble: London among global cities most at risk of housing bubble

27 September 2018

London is in the top five cities most at risk of a housing bubble, according to a new report measuring the world’s most overpriced property markets.

Hong Kong was ranked as the place most susceptible to a swift downturn after years of soaring house prices, while Munich, Toronoto and Vancouver were also among the other most overvalued markets in UBS’s global real estate bubble index.

The report also made grim reading for those looking to jump onto the property ladder, with UBS predicting that those in London would have to work 15 years to afford a 60m2 flat, underling the capital’s chronic...

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No-deal Brexit poses 'immense challenge' to Germany

25 September 2018

German manufacturers are becoming concerned about the possibility of a no deal Brexit according to a new report. Although Chancellor Angela Merkel told Der Spiegel at the weekend that she expects a no-deal Brexit would have a “relatively small” impact on the German labour market, the nation’s DIHK Chambers of Commerce begs to differ.

Increasing concerns over Brexit

In a new report, the organisation says manufacturers are becoming increasingly concerned about Brexit, not least because it is coming at a time of worsening conflicts and barriers in global trade, headlined by President Trump’s tariff war with China. “German companies are very worried over...

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U.K. House Prices Return to Growth Amid Signs of London Recovery

21 September 2018

U.K. house prices rebounded in September amid signs of a pickup in sales of London’s most expensive properties.

Asking rices rose 0.7 percent this month, matching the average for September since 2011, according to property website Rightmove’s housing index, which isn’t seasonally adjusted. In the capital, there was a 6 percent rise in sales agreed to for homes costing 750,000 pounds ($984,000) or more compared to the same last month last year, the firm said.

The increase left the average national price at 304,061 pounds, up from 301,973 the previous month. There was also more positive news in a separate report from...

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A very international British education

13 September 2018

The Council of British International Schools (COBIS) has grown to 290 member and accredited member schools in 80 countries since its foundation over 30 years ago.

Data from the latest COBIS annual survey reveals that these schools educate around 140,000 pupils and employ more than 30,000 teachers and support staff. The curriculum most commonly taught by responding COBIS schools worldwide is the UK curriculum, at 89 per cent. The examinations most commonly taken in the previous academic year were International GCSE (67 per cent of schools), A Level (43 per cent of schools) and AS Level (36 per cent of schools).

The International...

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The rise of Chinese finance puts pressure on London and New York as top financial centres

12 September 2018

London and New York remain the top two financial centres in the world but Asian cities are hot on their heels, according to an authoritative ranking to be published today.

A major report from London-based think tank and consultancy Z/Yen will show the average ranking of financial centres in Asia and the Pacific region rose to 760 points, closing the gap with North America and Europe at 727 and 737 respectively.

The ranking of 110 financial centres worldwide, shown exclusively to City A.M., highlights the remarkable rise of Chinese centres in particular, with ratings for Shanghai and Shenzhen surging, and Beijing rising...

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Brexit immigration update: UK government has plans to allow non-EU citizens to work in Britain

07 September 2018

A pilot scheme that will allow UK fruit and vegetable growers to recruit 2,500 non-EU migrants as seasonal workers has been unveiled by ministers.

The trial, which will run from spring next year until December 2020, is designed to offset the reduction in the number of EU workers prepared to come to Britain because of Brexit.

It is estimated that UK agriculture currently relies on about 75,000 seasonal workers. Under the pilot scheme, non-EU workers will be allowed to remain in the country for six months.

Home Secretary Sajid Javid said: “British farmers are vital to the UK’s economy and the government will...

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London fights off Paris to land title of leading tech cluster in Europe

05 September 2018

London has confirmed its place as Europe’s leading technology cluster in a report compiled by real estate advisor CBRE, even as France intensifies efforts to lure companies to Paris.

London was placed ahead of Madrid, Dublin, Budapest and Paris for its tech cluster, after the CBRE analysed the scale, growth potential and concentration of companies in each of the top cities in the Europe, Middle East and Africa region.

Kevin McCauley, head of London research at the CBRE, said: “It is no surprise that London has topped the EMEA tech ranking.

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Pilot scheme launched for EU27 remainers

31 August 2018

The UK government’s EU Settlement Scheme, under which more than three million EU27 nationals living in Britain will be able to apply to remain in the country after Brexit, was launched in a pilot scheme on Tuesday.

Following the publication earlier in August of a UK government ‘toolkit’ for HR departments at companies with EU employees, the trial will enable 4,000 Europeans working or studying at 12 NHS trusts in NW England, plus EU students and staff at three Liverpool universities, to apply for post-Brexit ‘settled status’.

EU27 settlement scheme to roll out across the UK from the end of 2018

The government...

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