UK financial firm optimism highest for 17 years – CBI

Picture: Ryan Tedder of ‘One Republic’ Clive Davis and The Recording Academy present the Annual Pre-Grammy Gala Beverly Hills, California – 07.02.09 American band OneReubpulic have finally earned their first No.1 UK single with ‘Counting Stars’. The race to the top spot was incredibly tight as new British band The Vamps latest single, ‘Can We Dance’, proved to be tough competition. According to the Official Charts Company , the rock group trailed The Vamps midweek but at the final hour they rallied ahead to take the top spot. The American boys only won by the small margin of 1,150 copies, marking the closest No.1 singles race of 2013. ‘Counting Stars’ made its Top 40 debut seven weeks ago as it was released back in June and is the third single off their latest album ‘Native’ which was released in March, 2013. It is now officially their most successful single in the UK, with it beating 2007’s hit ‘Apologise’ which featured Timaland and only reached No.3. Last week’s No.1, ‘Talk Dirty’ by Jason Derulo ft 2-Chainz, dropped to the 3rd position and Katy Perry’s ‘Roar’ comes in at No.4. The British electro producers, Chase & Status, topped off the top 5 with their new entry ‘Count On Me’, a track from their upcoming album ‘Brand New Machine’ which will be released on 7th October 2013. OneReuplic’s lead singer, Ryan Tedder, is no stranger to the Official Charts. The Grammy winning singer-songwriter co-wrote Leona Lewis’s ‘Bleeding Love’ which was the fastest selling CD of 2007 and received most radio airplays worldwide prior to its US debut. He is also credited for co-writing Ellie Goulding’s ‘Burn’, earning the British singer her first UK No.1 single.

UK financial firm optimism highest for 17 years

The Canary Wharf financial district is seen in east London February 28, 2013. REUTERS/Stefan Wermuth

Credit: Reuters/Stefan Wermuth LONDON | Mon Oct 7, 2013 7:07am BST LONDON (Reuters) – Britain’s banks and other financial firms are at their most optimistic for almost 17 years, according to an industry survey. Some 59 percent of UK financial services firms said they felt more optimistic about their business situation, compared to 6 percent who were less optimistic, according to the latest quarterly CBI/PwC financial services survey, released on Monday. The positive balance of 53 is the highest since December 1996. The survey, covering the three months to early September, also showed a net 24 percent of financial firms increased staff in the period, the biggest rise for six years. A net 14 percent of firms expect to increase staffing again in the current quarter. The CBI/PwC survey is based on the balance of firms reporting an increase and those reporting a decrease. The survey findings indicate about 10,000 jobs were added in the third quarter and another 2,000 will be created this quarter, taking UK financial services jobs to 1.14 million, CBI/PwC estimated. Business volumes fell in the latest quarter, however, mainly in banking. The CBI said 22 percent of financial firms reported a rise in business volumes, but 32 percent said they were down. A big majority of firms expect volumes to increase this quarter, it said. “Banks’ optimism is increasingly buoyant despite seeing a slight seasonal blip in commercial and industrial volumes. Activity and profitability are expected to grow as the economy recovers, and investment in new products and infrastructure is increasing,” said Kevin Burrowes, PwC’s UK financial services leader. Profitability rose for the fourth consecutive quarter, as companies managed to offset the fall in business volumes by increasing their margins, the survey showed. With costs expected to fall, profitability should increase further in the current quarter, firms said. (Reporting by Steve Slater; Editing by Christina Fincher) Tweet this

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“As our survey shows, the roles of accountants and financial support professionals are evolving and presenting new opportunities for them and their clients. This is a particularly exciting time to be bringing our cloud portfolio to the UK. Never has there been a greater need for the two sides to collaborate more effectively and we at Exact are going to be doing our part to support this evolution.” About Exact: Exact is a leading global supplier of financial and business software. The company develops industry-specific on-premise and cloud solutions for manufacturing, wholesale and distribution, professional services and accountancy businesses. With its headquarters in Delft, the Netherlands, it has been listed on the NYSE Euronext Amsterdam since June 1999 and reported a turnover of EUR 217.1 million in 2012. About HW Fisher: HW Fisher & Company is a commercially astute organisation with a personal, partner-led service aimed at entrepreneurial small and medium enterprises (SMEs), large corporates and high net-worth individuals. By fee income, HW Fisher ranks as a top 30 UK chartered accountancy firm. Founded in 1933, the practice comprises 29 partners and approximately 260 staff supplying a range of services spanning audit, corporate taxation, private client services, VAT, business recovery and forensic accounting, together with a range of sector groups offering specialist industry knowledge. See more at: http://www.hwfisher.co.uk/about-us#sthash.iRWNG5FT.dpuf FisherE@se Limited is the outsourcing arm of HW Fisher & Company , where Mukesh Shah is a Director. The research: The online survey was carried out by independent research company Atomik Research during the second week of September 2013. A total of 450 SME businesses took part in the survey, from various sectors, along with 150 accountancy practices. (1) Metrics used: Figures are based on Department for Business Innovation & Skills figures, taken from its ‘Business Population Estimates for the UK and Regions 2012’ report, which shows that there are 4.8 million SME businesses – of which 20% have said they have failed to invoice for a job at one stage or another (960,000). Each percentage bracket was then calculated using the higher end figure to highlight the maximum that may have been lost (e.g.

Poor Internal Systems Have Cost UK SMEs £Billions

The positive balance of 53 is the highest since December 1996. The survey, covering the three months to early September, also showed a net 24 percent of financial firms increased staff in the period, the biggest rise for six years. A net 14 percent of firms expect to increase staffing again in the current quarter. The CBI/PwC survey is based on the balance of firms reporting an increase and those reporting a decrease. The survey findings indicate about 10,000 jobs were added in the third quarter and another 2,000 will be created this quarter, taking UK financial services jobs to 1.14 million, CBI/PwC estimated. Business volumes fell in the latest quarter, however, mainly in banking. The CBI said 22 percent of financial firms reported a rise in business volumes, but 32 percent said they were down. A big majority of firms expect volumes to increase this quarter, it said. “Banks’ optimism is increasingly buoyant despite seeing a slight seasonal blip in commercial and industrial volumes. Activity and profitability are expected to grow as the economy recovers, and investment in new products and infrastructure is increasing,” said Kevin Burrowes, PwC’s UK financial services leader. Profitability rose for the fourth consecutive quarter, as companies managed to offset the fall in business volumes by increasing their margins, the survey showed. With costs expected to fall, profitability should increase further in the current quarter, firms said. (Reporting by Steve Slater; Editing by Christina Fincher) @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the “Enter symbol/company” at the bottom of this module. You need to enable your browser cookies to view your most recent quotes.