Live updates

Half of London businesses struggling to recruit

More than 50% of businesses in the capital have struggled to recruit new staff in the last three months.

Research by the London Chamber of Commerce and Industry also found 26% of firms felt under pressure to increase wages.

It is urging government to make it easier for businesses to employee people from overseas.

"For the second successive quarter, businesses have told us that they are facing significant issues recruiting staff with the right skills. This means that increasingly, businesses need to look outside of the domestic labour market for the staff they need. "Making it easier for businesses to recruit from overseas is critical, we must see a reduction in the red tape associated with recruiting non-EEA workers and exempt foreign students from the net migration target, restoring their right to work in the UK after graduating."

– Peter Bishop, Deputy Chief Executive of London Chamber of Commerce and Industry

Advertisement

Business rates bills to soar

Retailers on London's West End shopping streets face an 80% surge in business rates bills according to new research. Property specialist Gerald Eve has found shops on Oxford, Regent and Bond Streets will pay a total of £293 million per year as a result of revaluation from today, which will come into effect in April 2017.

City of London jobs boost

The City of London Credit: PA

More than three thousand new jobs were created in the City of London this month. That's 25% more than in March last year according to new figures.

According to the recruitment firm Astbury Marsden the rise was down to investment banks increasing their numbers of technology staff and an increase in mergers and acquisitions.

People put off London internships

Many feel London is too expensive to live in while doing an internship Credit: PA

Living costs are putting people off applying for work placements and internships in London according to a survey by The Debrett's Foundation, which champions social mobility.

Forty seven per cent of people surveyed said living costs and travel would be enough to stop them from applying for positions that they want.

The survey also found that children and young people from privileged backgrounds often land their 'dream' work placements due to family connections. The Debrett's Foundation claims there are "huge disparities in opportunities" open to young people on opposite ends of the social scale.

Advertisement

Load more updates