Tagged / Finance

Finance – London under threat

One of the City of London’s main lobby groups, TheCityUK, has warned that London’s position as a leading global financial centre is under threat without reforms to tax and labour rules. The group has published a new international strategy that seeks to return the UK to being the world’s leading international financial centre within five years.

The strategy underlines the need to strengthen market share in existing areas of advantage, such as FinTech. It also calls for the UK to build its capabilities in future areas of global growth where the UK has a competitive advantage, such as data, global ESG markets and risk management.

It says that delivering the strategy will create more high-skilled, high-value UK jobs, and attract more foreign direct investment into businesses in all sectors across the UK. It will put the UK at the forefront of innovation and position the UK as a leader in financing the green economy.

Recommendations

  • Developing new global markets around key areas of future global demand, including becoming a global hub for data and technology by championing common ground rules for digital trade and seek targeted data transfer agreements.
  • Positioning the UK at the heart of global ESG markets, partnering with other countries to create global ESG disclosure standards and more interoperability of ESG taxonomies.
  • Strengthening the UK’s role as a gateway through which global investors can channel funds to businesses across the UK and growth markets around the world.
  • Helping the UK to become the world leader in risk management and in developing alternative risk transfer instruments.
  • Attracting the world’s talent by making visas cheaper and quicker to process.
  • Strengthening capital markets by adopting the recommendations of Lord Hill’s review.
  • Boosting foreign direct investment by amending the tax regime for the financial services sector.
  • Adopting a more agile and dynamic regulatory approach.
  • Supporting UK law’s effectiveness and competitiveness and positioning the UK as a global centre for commercial legal services.
  • Helping the UK remain at the forefront of financial technology and innovation.
  • Liberalising trade with developed markets and emerging markets, with a focus on agreements that support services.
  • Securing international recognition for UK qualifications and improving labour mobility, strong market access and investment protection provisions.

Miles Celic, CEO of TheCityUK, said: “The UK’s financial and related professional services industry is a strategic national asset which provides millions of high-value jobs right across the country, attracts inward investment, contributes significant tax revenue and generates large export surpluses. Being host to the world’s leading financial centre provides large and widespread economic benefit to the UK – which is why there is no shortage of competitors seeking to grow their own financial centres.

“One of the greatest risks for any successful financial centre is complacency. Europe is littered with cities that were once the leading international centre of their day. The last decade has been one of growth for our industry, yet global competitors have grown faster. However, with the right strategy in place and a clear focus on delivery, the UK can pull away once again from its competitors. It is an ambition that needs industry, government, and regulators to work together. It will take sustained focus, cooperation and determination.”

The full strategy is available here.

This summary was prepared for BU by Dods.

Singleimage Workshop – 2 day Finance in Horizon 2020 – 9 & 10 August 2016

2 DAY – FINANCE IN HORIZON 2020 WORKSHOP

9 & 10 August 2016 – Cambridge, UK

Horizon 2020 – the EU’s research and innovation funding programme – has been running for 2 years and projects are now beginning to submit their first financial reports. This finance workshop is an extended version of our one-day finance workshop, and will provide a greater level of detail of the funding rules for the new programme, from budgets to eligible costs and on to cash flow.

The workshop is aimed at finance and administration staff involved in EU research projects, with or without a background in earlier EU programmes. It will consist of lectures and practical exercises, to be carried out in small groups with plenary feedback sessions.

The workshop is designed to be interactive, and questions can be asked at any time. To facilitate this, attendance is limited to 24 participants.

For further information please visit the website at: www.singleimage.co.uk or contact Liz Dixon.  Please also note that the nearest large airport to the workshop venue is London, Stansted.

BRAD Upcoming Opportunities – 16th November 2015

BRAD

 

 

 

For more information about the above workshops and to book – CLICK HERE

Research Application Process- 16th November 2015, 9:30- 10:30.
This session will provide a presentation on the process of costing your research at BU and the research application process. Additionally, Q & A session and the opportunity for a one on one discussion with the facilitators.

Justifying your funding request workshop – 16th November 2015, 10:45-13:00 (including Lunch)
Many funders require you to justify the funding you are requesting in a research bid. But how can you best approach this? This session will outline how to structure a justification for funding for the major funders (research councils, other government funders, main charities) and provide some examples of good and bad practice.

Financial Management Workshop – 16th November 2015, 12:00 -14:30 (including Lunch)Finance for smes
This workshop will cover several topics ranging from; financial management, income and funding budgeting, financial resourcing and strategic financial planning.

 

For more information about the above workshops and to book – CLICK HERE

 

 

 

Financial technologies funding

 

Attend the Fintech Innovation Contest Assembly – 25 Feb 2015

This facilitated knowledge sharing and networking event, organised by IC tomorrow, a digital programme for Innovate UK, and the Knowledge Transfer Network brings together leading industry experts to explore the challenges and opportunities around innovation in financial technologies.  There will also be the chance to find out about the upcoming launch of IC tomorrow’s funded ‘Financial Technologies Innovation Contest.

If you have technology or expertise relevant to the financial services industry, or if you are interested to find out about how to navigate this expanding market, then this free evening event is for you. This session provides the opportunity to meet with entrepreneurs, brands, academics, technologists, designers, and thought leaders across a range of financial services sectors.

Register at: https://www.eventbrite.com/e/fintech-assembly-registration-15426001586

 £175K Financial Technologies Innovation Contest

The IC tomorrow Financial Technologies innovation contest will offer a total of £175k to businesses to encourage innovation within Financial Technologies. Through a range of challenges, including themes of Education, Cyber Security, Transactions, Personal Finance Management, Compliance and Regulation, IC tomorrow are looking for innovative proposals from companies with digital solutions relevant to these themes within the financial sector.

The briefing event will provide an opportunity to get insight about the challenges from our challenge partners and all you need to know about the application process for the Financial Technologies Innovation Contest.

London: 04 March 2015 – https://www.etouches.com/118520

Online Webinar: 04 March 2015 – https://www.eventbrite.co.uk/e/online-webinar-financial-technologies-innovation-contest-briefing-registration-15794522843

Cardiff: 05 March 2015 – https://www.eventbrite.co.uk/e/financial-technologies-innovation-contest-briefing-cardiff-registration-15749448023

Edinburgh: 10 March 2015 – https://www.eventbrite.co.uk/e/financial-technologies-innovation-contest-briefing-edinburgh-registration-15749741902

Belfast: 11 March 2015 – https://www.eventbrite.co.uk/e/financial-technologies-innovation-contest-briefing-belfast-registration-15749951529

Festival events – what can we tempt you with today?

Here are a handful of Festival Events you can come along to next week – to find the full list of events head to the website, or look out for programmes around campus. See something that might interest a friend or family member? Spread the word!

As usual, just click on the links to be taken to the website to find out more and book your place

Star Wars planets: Lessons in planetary geology

Saturday 14 June

11am – 12pm, Executive Business Centre (EB306)

Consider yourself a Star Wars fan?  Come along to this fascinating event that teaches you planetary geology for the world of Star Wars:

What would it be like to live on Tatooine with two suns? Or on the ice world of Hoth, or molten Mustafar? This event will focus on a selection of ‘Star Wars’ planets. You’ll explore their geology and learn about our own planet along the way.

Run by Matthew Bennett

Have we made banking good?

Thursday 12 June

12pm – 2pm, Executive Business Centre (EB708)

Since the global financial crisis and ensuing credit crunch, there has been substantial EU and UK sector re-regulation. This panel discussion looks at whether the result is a safer banking system, focused on serving the public good.

Run by Andy Mullineux

Bug grub!

Monday 9 June

11am – 12pm, Poole House (PG73)

A good way to spend an early lunch hour perhaps?  Come along to this event and challenge your dietary perceptions

Supply of conventional protein such as meat and fish is under strain as the world supports a growing population. In order to feed the world we must be open to alternative forms of food – including bugs! Challenge your cultural palate and gastronomic sensibilities by consuming unconventional foods, which are likely to form a large proportion of the food chain in the future.

Run by Andy Boer

What does a forensic scientist really do?

Tuesday 10 June

10am – 4pm, Kimmeridge House (KG03)

One to send on to any teenagers in the family:

This event features a range of illustrated talks and practical exercises for years 10, 11, 12 and 13 students interested in forensic science. It will introduce students to a range of investigative forensic skills using observation, physical and chemical tests.

Run by David Osselton

‘Technophiles’, ‘technophobes’ and ‘technodopers’: Sport & its technology.

Tuesday 10 June

4pm – 5pm, Poole House, (Stevenson Lecture Theatre)

If you missed Bryce’s fantastic talk last year on Prosthetics technology then make sure you don’t miss out again this time!

Be it a ball thrown or a wheelchair raced, this talk highlights the role that technology plays in sport. You’ll learn its colourful history and join the debate on the many controversies that have occurred in sport. We’ll discuss how maximising the performance of technology can be the fine difference between success or failure for an athlete.

Run by Bryce Dyer

 

 

 

 

Global accounting rules – an unfeasible aim?

Stella Fearnley, Professor of Accounting at BU, and Shyam Sunder, James L. Frank Professor of Accounting, Economics, and Finance at Yale School of Management, recently published their views on global accounting rules in the Financial Times financial markets online edition. The article outlines the authors’ concerns that the application of uniform financial processes or rules in diverse societies, such as the introduction of the euro and the adoption of International Financial Reporting Standards (IFRS), does not yield uniform outcomes. They urge the Securities and Exchange Commission to abandon any plans to proceed with IFRS in the US, and encourage other countries that already employ IFRS to insist on a much less complex system.

Ultimately, the authors suggest the G20 drop its support for global accounting standards and recommend a system of accounting based on professional judgments and sound, prudent principles. At the end of the day, Anglo-American based accounting standards are not necessarily appropriate for the whole world.

To access a copy of the full article, you can sign up for free to the FT website and download a copy here.