UK quoted companies issued 76 profit warnings during the first three months of this year – down from 77 in Q1 2015, and 24 fewer than Q4 2015. However, according to EY restructuring experts, this is remarkably high given the substantial downgrade in profit expectations at the end of 2015. In the twelve months to…
Lloyds Bank has announced cuts to 625 jobs across several divisions including commercial banking, according to Unite. The trade union also reports that the move includes the offshoring of up to 82 roles in IT across the bank’s departments. In addition to commercial banking, other impacted divisions include consumer finance, group risk and legal &…
The EU Commission has published details on how businesses, including those in the UK, can get better access to the technologies that will help them to modernise. The package includes improving access to cloud computing and services, data analytics and the Internet of Things. Four areas of working are suggested as follows: •digitising European industry,…
Tracey McDermott is to leave the Financial Conduct Authority (FCA) following a stint as its acting chief executive. She has previously been the regulator’s director of supervision and authorisations and prior to that director of enforcement and financial crime. Andrew Bailey was appointed as the new chief executive in January and is due to take…