DEBATE: Should we subsidise farmers for providing ‘public goods’, like protecting the environment? January 8, 2018 Should we subsidise farmers for providing ‘public goods’, like protecting the environment? Warwick Lightfoot, director of economics at Policy Exchange and lead author of Farming Tomorrow, says YES. Brexit presents a big opportunity to improve the way we support farming and put the consumer at the heart of food policy. The EU’s Common Agricultural Policy [...]
The next frontier for insurtech is reinventing insurance itself January 8, 2018 In 2015, when I first invested in an insurance technology startup, the term “insurtech” hadn’t been coined, and the explosion of investment in insurance was yet to begin. Fast-forward three years, and the landscape has changed immeasurably. Over $230m was invested in insurtech globally in 2015, growing to over $500m in 2016. Despite the fanfare, [...]
London Stock Exchange Group’s LCH clearing arm enjoys record year January 8, 2018 The London Stock Exchange (LSE) Group’s LCH clearing arm processed a record volume of derivatives over the course of 2017, ahead of an expansion further into servicing growing Asian markets. The notional value of interest rate derivatives processed by LCH reached over $873 trillion during the course of 2017, according to data to be published [...]
Drones to be tested with passengers on board this year January 7, 2018 Test flights for the first British passenger drone will begin this year. Martin Warner’s Autonomous Flight Y6S will carry passengers for the first time in spring 2018, having only so far performed flights without people on board. If the flights are successful, it could lay the way for two-person drones to fly over London in [...]
Donald Trump’s tax changes on agenda for JP Morgan Chase (JPM) and Wells Fargo (WFC) as US bank earnings season kicks off January 7, 2018 JP Morgan Chase and Wells Fargo are among the first of the US banking behemoths who will kick off a new earnings season in earnest this week, with analysts keenly awaiting updates on how US tax changes will affect the biggest lenders. The Republican party led by US President Donald Trump passed a wide-ranging tax [...]
Oil tanker Sanchi on fire off coast of China after collision leaves 32 missing January 7, 2018 A tanker carrying $60m worth of oil is on fire off the coast of China after a colliding with another vessel. The 32 crew of the Iranian tanker Sanchi are missing while the 21-strong crew of the other cargo vessel have been rescued. Read more: Ship seized in row over illegal oil transfer to North [...]
Failed wholesaler Palmer & Harvey faces a grilling from MPs in Frank Field’s Work and Pensions Committee centred around its 2008 management buyout January 7, 2018 Failed wholesaler Palmer & Harvey (P&H), which collapsed into administration just weeks before Christmas, is set to be grilled by an influential Commons select committee. Former bosses at the 92-year-old company, which was the UK’s largest cigarette supplier, will come under the Work and Pensions Committee’s spotlight to give evidence on a 2008 management buyout. [...]
Investors in bitcoin futures are set to suffer, though bitcoin drove gains for investment managers in 2017 January 7, 2018 Investors who ploughed money into bitcoin futures are currently facing hefty losses, as the first contracts are set to expire in just over a week. Soon after bitcoin futures debuted on the Chicago Board Options Exchange (CBOE) in December, frantic trading caused the price of the January contract to rise from around $15,000 to almost [...]
What is VAR and how does it work? Ahead of Brighton v Crystal Palace, has football’s trial with video assistant referees been a success so far January 7, 2018 The high-stakes nature of knock-out football and the added scrutiny of a grudge match are not the only unusual elements facing Brighton and Crystal Palace players when the two sides meet in the FA Cup on Monday night. They may also need to negotiate the use of video technology which some colleagues in other countries [...]
Molson Coors buys Aspall, the 300-year-old British cider maker January 7, 2018 A near 300-year-old family run British cider maker is the latest independent drinks company to be snapped up by a brewing giant. Molson Coors, the US drinks giant behind Carling and Cobra Beer, has acquired Suffolk’s Aspall for an undisclosed sum it was confirmed on Sunday morning. The deal comes after a year of what [...]