Dulux-maker AkzoNobel confirms it’s in merger talks with Axalta October 30, 2017 Paint maker Akzo Nobel has confirmed it is in talks with US coatings company Axalta regarding a potential merger. The Dutch group, which produces Dulux paint, said in a statement: “In response to market speculation, AkzoNobel confirms today it is currently in constructive discussions regarding a merger of the AkzoNobel Paints & Coatings business with [...]
HSBC’s (HSBA) profits jump as the bank looks to Asia for growth October 30, 2017 HSBC’s third-quarter profits have jumped as the bank looks to Asia to fuel its growth. The figures For the three months to the end of September, HSBC reported quarterly profits of $4.6bn (£3.5bn), up 448 per cent from $843m at the same point last year. Read more: HSBC appoints John Flint to succeed Stuart Gulliver [...]
Fintech startup CommuterClub raises £2.3m to grow online season ticket financing from WGC and early-stage investors including tennis star Andy Murray October 30, 2017 A startup which provides financing for commuters to buy rail travel cards has landed a fresh injection of cash, City A.M. can exclusively reveal. The £2.3m for CommuterClub was led by Indian financial services firm Wadhawan Global Capital (WGC), an investor in Zopa and Goldman Sachs-backed fintech startup Neyber, with previous investors also participating. Read [...]
2017’s a record year for Silicon Valley investor cash going into UK tech startups October 30, 2017 It’s already a record year when it comes to the amount of cash being invested in the UK’s technology startups from Silicon Valley. More than $1bn has been raised so far in 2017, double the amount raised in both the two years prior. Read more: London tech startups head on Brexit trade mission to France [...]
Making British industry digital could boost the economy by billions and create thousands of new jobs – Siemens boss Juergen Maier’s review October 30, 2017 New plans for making the UK a global leader in high-tech manufacturing have been put forward in a bid to boost the economy by more than £450bn and create nearly 200,000 jobs over the next decade. And the proposals could even form the basis for a sector deal after Brexit. A dozen digital innovation hubs [...]
Train companies team up for £85bn plan to boost Britain’s railway post-Brexit in public and private partnership October 30, 2017 Rail companies, their suppliers, and Network Rail, have today set out plans to work more closely together, in order to drive £85bn of additional economic benefits to the UK economy. Paul Plummer, chief executive of the Rail Delivery Group, which represents train firms and Network Rail, said the plan “will deliver the railway that the [...]
Cyber attacks are on the rise – don’t let your business be a hacker’s paradise October 30, 2017 Headlines have been dominated by news of cyber attacks over recent months. But to date, no hack rivals the WannaCry virus, which temporarily crippled the NHS and other organisations around the world. Will Twiss, information security manager at business finance group LDF, warns that the threat posed by cyber criminals is constantly evolving, with new [...]
Let’s scrap stamp duty and stop exacerbating the housing crisis October 30, 2017 Often when we talk about taxes, we just weigh out how much they raise and who pays, and assume any change is about handing out cash to a favoured group. But this is misguided. Some taxes distort the economy far more than others for every pound they raise for the Treasury. By this measure, stamp [...]
DEBATE: Are Open Banking and PSD2 a real threat to banks? October 30, 2017 Are Open Banking and PSD2 a real threat to banks? Mike Gordon is chief executive of Callcredit, says YES. Banks make most of their money from a few products, which they package along with current accounts. Open Banking and PSD2 will change this model, as shown by our recent research with Ctrl-Shift. Open Banking requires [...]
Flexible working plans for Britain’s armed forces draw step closer to 2019 rollout with House of Commons hearing October 30, 2017 Plans to shake up the armed forces by rolling out flexible working options move a step closer, as proposed legislation to make the changes will be heard in the House of Commons today. The measures, set out as part of the Queen’s speech in June, will allow armed forces personnel to work part-time for short [...]