London’s latest private equity firm FPE Capital closes its debut fund at £100m to focus on smaller UK businesses October 26, 2017 The UK's private equity market is continuing to grab attention as FPE Capital, a new firm which will focus on smaller UK businesses, has closed its first institutional fund at £100m. The firm has spun out from Stonehage Fleming, a business which makes investments on behalf of high-net-worth individuals and families. FPE will target businesses [...]
Mayor-backed London venture capital fund has helped create 700 jobs across the capital October 26, 2017 Five years on from when MMC Ventures established its London-focused fund, the venture capital firm has revealed it has pumped more than £100m into businesses and helped create over 700 jobs. The MMC London Fund has invested money into 19 London startups, including short-term retail let marketplace Appear Here, home ingredient delivery service Gousto, and [...]
Billionaires’ march continues as Asian surge drives 17 per cent increase in wealth October 26, 2017 Billionaires across the world piled on more riches with the ultra-wealthy in Asia now outnumbering the traditional leaders, the US, according to research published today. The total wealth of billionaires worldwide rose by 17 per cent in 2016 to reach $6 trillion (£4.5 trillion), equivalent to more than double the UK’s annual economic output, according [...]
The UK’s gender pay gap is at its smallest since records began October 26, 2017 The UK’s gender pay gap fell to the lowest since records began in April – although it still stood at 9.1 per cent, according to official figures. The Office for National Statistics’ (ONS) annual survey of hours and earnings showed full-time employees in the UK earned £550 a week in April, up 2.2 per cent [...]
Low rates, record high stocks: is the bubble about to burst? October 26, 2017 | City Talk The world is, seemingly, in a bull market in everything. Just take a few headlines from this month alone: US stocks, already at all-time highs, hit a sixth consecutive closing high, which is the first time that has happened for 20 years. In debt markets, Ireland issued a bond with a negative yield, which means [...]
New York taps Transport for London’s contactless expertise for public transport revamp October 26, 2017 New York is set to roll out a contactless fares system across its public transport network, derived from the one developed by Transport for London (TfL). TfL is setting up a new consulting arm to provide its expertise to operators around the world, and in the newest instance of the transport body looking to share [...]
What the peer-to-peer lending industry learnt from Lego October 26, 2017 Fidget Spinners are out. Loom bands are out. Pokemon Go? So out. What’s the latest craze sweeping the nation’s playgrounds this term? Lego. And more precisely, Lego figurines. These little Lego people have broken free to become one of the must-have tradeable toys this autumn. Lego is no longer just about the bricks, and the [...]
Here’s how London City Airport will look after its £400m expansion October 26, 2017 London City Airport has released a batch of new pictures to show what it will look like following a £400m development programme. The airport currently serves 50 destinations across 12 airlines, and has welcomed over 55.5m passengers since opening in 1987. It is eyeing bumping that number higher with its expansion plans. The privately-funded investment [...]
Carillion locked in £200m row over contract to prepare Qatar for 2022 FIFA World Cup October 26, 2017 Struggling contractor Carillion is locked in a £200m row over money owed on a project linked to the development of Qatar in preparation for the 2022 FIFA World Cup. The cash-strapped firm has not been paid for almost a year for work on a $650m (£493m) contract handed to Carillion and joint venture partner Qatar [...]
Pharrell Williams takes stake in British startup Roli and becomes creative chief October 26, 2017 A British startup which wants to reinvent musical instruments has attracted US music heavyweight Pharrell Wiliams to join its venture. Roli, the eight-year-old startup behind two new instruments – Seaboard and Roli Blocks – has named the producer and singer known for the song “Happy” as its creative chief and Williams will take a stake [...]