Innocent Drinks passes £300m in sales as European growth spikes July 3, 2017 Innocent Drinks, the UK smoothie-maker which is majority-owned by Coca Cola, passed sales of £300m for the first time last year as its European presence continues to expand. Sales grew by 23 per cent in the year to 31 December 2016, coming in at £303.5m. The company saw a return to profit, making £8.5m compared [...]
The 25 towns Londoners are leaving the capital for July 2, 2017 Samuel Johnson might have suggested being tired of London meant being tired of life, but he probably hadn't had to endure astronomical house prices or daily elbow wars on the Tube. Indeed, figures published by the Office for National Statistics (ONS) show the capital has the highest level of internal migration net outflow, aka people [...]
UK house prices: Is a crash coming? These economists thinks so, raising spectre of negative equity July 2, 2017 Leading economists have warned that the UK is heading for a collapse in house prices not seen since the early 90s which risks plunging homeowners into negative equity. "We are due a significant correction in house prices. I think we are beginning to see signs that correction may be starting," said Paul Cheshire, a professor [...]
Buried treasure: The British shadow economy is worth £200bn June 29, 2017 The British shadow economy accounted for more than £200bn last year, according to new estimates of goods and services kept away from the eyes of authorities. The murky world of the legal goods and services deliberately concealed from governments was worth 11.3 per cent of the UK’s GDP in 2016, according to the Association of [...]
University unveils humanoid to help NASA on missions to Mars June 27, 2017 | City Talk Scientists at The University of Edinburgh have recently unveiled a £2m humanoid robot that will help NASA on un-manned missions to Mars. The Valkyrie project is a result of collaboration between NASA and The University of Edinburgh on a very ambitious futuristic idea. Valkyrie is the most advanced humanoid robot in the world and only [...]
Edinburgh ranked one of the world’s top cities for investment in new survey June 26, 2017 | City Talk Investment activity in commercial real estate in Edinburgh, relative to the city’s current economic size, has seen Scotland's capital ranked as one of the world’s top cities for investment in the latest JLL Investment Intensity Index 2017. The index, which compares the volume of direct real estate investment in 150 cities, over a three-year period, [...]
Social Stock Exchange preparing for Scottish launch June 26, 2017 | City Talk The Social Stock Exchange, which focuses on ‘profit with a purpose’, is preparing for a full launch in Edinburgh, providing access to the world’s first regulated exchange dedicated to businesses and investors seeking to achieve a positive social and environmental impact through their activities. The Scottish Social Stock Exchange was established in 2016, with the [...]
Crossrail 2 route shake-up: Transport for London’s business case proposal scraps Kings Road Chelsea station June 26, 2017 A controversial station at Kings Road Chelsea, set to form part of Crossrail 2, has been dropped from the latest business case for the planned rail route. In the business case which TfL sent to the government in March, and seen by City A.M., the latest route for the railway running across London and the [...]
Box-ticking approach to governance is failing companies, says new survey from Tomorrow’s Company June 26, 2017 An overly prescriptive approach to corporate governance is doing little to improve companies' prospects, a new report from non-profit think tank Tomorrow's Company has concluded. In a survey of non-executive directors (NEDs), executives and chairmen, the think tank found that the increasing “burden” of governance was leaving business ill-equipped to drive long term value. It [...]
A fintech cluster greater than the sum of its parts June 26, 2017 | City Talk One of Europe’s largest financial centres and an international technology hub, Edinburgh will play a leading role in driving the UK’s £20bn fintech industry and shaping a fast-moving global industry. Edinburgh’s financial credentials are beyond question. As the UK's second largest financial services centre, and the fourth largest in Europe, the city claims the lion’s [...]