Avast software business cuts its IPO price as it floats at £2.4bn May 10, 2018 Software firm Avast this morning confirmed it has set the price for its London initial public offering (IPO) at 250p per share – the bottom of its original guidance range. Avast initially guided that it could float for between 250p and 320p per share, which would have given it a maximum market value of more [...]
Blockchain technology is set to play a power chord in the music industry by helping to solve copyright issues May 10, 2018 The internet has allowed consumers to create, share and listen to more music than ever before. It has also created headaches for the music industry, specifically over how to keep track of copyrights in a complex global economy and how to accurately allocate royalties to artists and labels. One London-based tech startup, JAAK, hopes to [...]
Theresa May will have to compromise on the customs union May 10, 2018 Yesterday was Europe Day, the EU’s annual celebration of the ideals behind the project. In London, the occasion was recognised by a display of member states’ flags in Parliament Square. A reminder, perhaps, that the UK has yet to leave the EU. Just yards away from the display, members of the House of Lords were [...]
Stakeholder engagement can rescue capitalism from crisis May 10, 2018 There is a growing sense of unease about the economy across much of the country. Perhaps it’s the stories of runaway executive pay, or that feeling that some of the biggest profits go to big businesses able to engineer one-way bets. While inequality of income might not have got worse in recent years, there’s a [...]
Protectionism and trade barriers aren’t just bad economics – they’re also immoral May 10, 2018 On Wednesday, Paul Ormerod argued in City A.M. that the economic effects of Donald Trump’s proposed protectionism were likely to be minimal. In doing so, he missed a crucial chance to champion the economic, social, and even moral benefits of free trade. There is near consensus among economists that free trade generates more wealth than [...]
Housing reform is the only way to solve generational inequality May 10, 2018 This week, the Resolution Foundation published a report entitled A New Intergenerational Contract. The report, from the think tank’s Intergenerational Commission, found that millennials (born 1980-1996) are now half as likely to own a home at age 30 as baby boomers were. Four out of 10 millennials now rent privately at age 30 – double [...]
Royal Institution of Chartered Surveyors: London house prices predicted to keep falling as market has worst month since 2009 May 10, 2018 London’s housing market has experienced its worst month in nearly a decade, with surveyors expecting prices to drop even further over the next year. A highly-regarded survey published this morning reveals that 65 per cent more property surveyors saw London prices fall during April rather than rise, the weakest reading since February 2009. Sinking prices [...]
Manchester United retain top spot on most valuable football brands list despite Manchester City and Liverpool growth May 10, 2018 Manchester United remain the most valuable brand in world football, despite failing to win the Premier League for a fifth season in a row. United’s unrivalled commercial clout, a return to the Champions League and an improved season under Jose Mourinho in the league all combined to keep them top of the Brand Finance Football [...]
All eyes on Bank of England governor Mark Carney as rates decision due tomorrow May 9, 2018 The chances of the Bank of England (BoE) not raising interest rates in May seemed inconceivable just a few months ago. Back in February, BoE deputy governor Ben Broadbent said that it would not be a “great shock” to the economy if the Bank raised interest rates twice this year. Now, it will be a [...]
National Audit Office casts doubt on progress of court modernisation process May 9, 2018 The National Audit Office (NAO) has released a sceptical report about a massive £1bn court modernisation programme that aims to cut 5,000 jobs and reduce spending by £265m. In its report the NAO said the HM Courts & Tribunals Service (HMCTS) which is driving the changes faces a “daunting challenge” in delivering the modernisation programme [...]