UK construction companies made a positive end to the year with the fastest rise in new order volumes since January 2016. Stronger demand patterns resulted in sustained job creation and a broad-based upturn in business activity during December, with the Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) rising to 54.2 in December, up from 52.8…
RBS has failed the Bank of England’s latest stress test which was based on the group’s balance sheet as at 31st December 2015. The bank has responded saying that it has taken a number of actions since the end of last year, such as the run-down of Capital Resolution risk-weighted assets (reduced by £10.4 billion…
The UK commercial property market has seen a significant drop in confidence and investor demand following the Brexit vote, according to the Q2 2016 RICS UK Commercial Property Market Survey. Both the investment and occupier sides of the market have been affected by the change in sentiment and both rent and capital value expectations are…
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 &…
UK construction companies indicated a sustained upturn in overall business activity during March but the pace of expansion remained relatively subdued in comparison to the trends seen for much of the past three years. At 54.2 in March, the Markit/CIPS UK Construction Purchasing Managers’ Index posted above the neutral 50.0 value for the thirty-fifth month…