Wealthsimple becomes the first robo-adviser to launch a socially responsible portfolio January 16, 2018 Online wealth manager Wealthsimple will next week become the first robo-adviser in the UK to launch socially responsible investment portfolios. The business, which has accumulated more than £1bn in assets under management globally, launched the offering in response to strong client demand. Any money clients put in the socially responsible investment portfolios will be invested [...]
This private equity firm has backed five London boroughs (Sutton, Tower Hamlets, Bexley, Merton and Newham) to help keep children out of care January 16, 2018 Five London boroughs have received backing from the Big Lottery fund and private equity investor Bridges, in a pioneering partnership aimed at keeping young vulnerable people out of care. The borough councils of Sutton, Tower Hamlets, Bexley, Merton and Newham commissioned the Positive Families Partnership to help more than 350 young people involved in serious [...]
Supply chain costs push EU’s potential hard Brexit bill to £100bn January 15, 2018 European nations could face a cost of as much as £100bn if the EU and the UK do not agree a Brexit trade deal, according to new analysis published today. Under a so-called hard Brexit, in which the UK trades with the EU under World Trade Organisation rules, the cost of rerouting European supply chains [...]
Activist hedge fund Elliott has scooped a stake in GKN just days after it rejected a £7bn bid from Melrose January 15, 2018 Activist hedge fund Elliott, which rose to fame last year after a drawn-out battle with Dulux maker AkzoNobel, has revealed it has grabbed a stake in engineering giant GKN just days after the company rejected a £7bn takeover bid. The US firm now owns a 1.7 per cent interest in GKN, which manufactures parts for [...]
Bank of England economist Silvana Tenreyro sees potential for pleasant UK productivity surprise January 15, 2018 British productivity growth could give economists a pleasant surprise in the coming years, according to a top policymaker at the Bank of England. Silvana Tenreyro, an external member of the interest rate-setting monetary policy committee (MPC), said she believes the so-called productivity puzzle could be resolved as laggards – including the financial sector – finally [...]
Sam Torrance: EurAsia Cup success a vital Ryder Cup stepping stone for Thomas Bjorn and Europe January 15, 2018 Without wanting to take the shine off the EurAsia Cup as it’s a great tournament in its own right, but Europe’s victory on Sunday was the ideal preparation for this year’s Ryder Cup. Playing matchplay golf while representing Europe will have been a significant stepping stone in the learning process of young players who could [...]
Acacia Mining’s output continues to drag amid Tanzania export ban but tops expectations January 15, 2018 Acacia Mining’s output dropped in the fourth quarter of 2017 due to an ongoing dispute with the government of Tanzania, but the firm still managed to beat its revised expectations. Shares in the London-listed firm were up just over one per cent to 196.5p at the time of writing. Gold production in the three months [...]
Number 10 Cobra committee to meet to discuss Carillion’s collapse January 15, 2018 The government’s emergency Cobra committee is meeting today to discuss Carillion’s collapse. Carrillion announced this morning that it had filed for liquidation, putting 20,000 UK jobs at risk. The construction giant was struggling under the weight of its £1.5bn debt pile, and talks with lenders and the government over the weekend failed. Read more: Bumper [...]
Carillion crisis: Millions paid to former execs “does no good to the reputation of UK business” January 15, 2018 Bumper payouts to top former execs at collapsed contractor Carillion have put the reputation of Britain’s top bosses on the line, the Institute of Directors has warned. Carillion fell into liquidation this morning after eleventh-hour talks failed to save the debt-laden contractor. The insolvency marked the end to a tumultuous six months, kicked off when [...]
Airbus could shut down production of its A380 superjumbo without Emirates deal January 15, 2018 Fresh uncertainty has been thrown over the future of Airbus’ A380, the world’s biggest passenger jet, as the company said it could shut down production if it can’t strike a deal with Emirates. In a webcast today, John Leahy, the company’s sales chief, said: “If we can’t work out a deal with Emirates I think [...]