Google parent Alphabet’s Sidewalk Labs building its own smart city in Toronto. But why not London next? October 18, 2017 Google’s parent company Alphabet is building its own city, where it will tackle some of the most pressing issues facing London: urban growth, energy use, housing costs, and transportation. But it’s the Canadian city of Toronto where 800 acres of waterfront space will be built “from the internet up” by the tech giant, not the [...]
Pound sterling falls despite UK wages rising more than expected in August (GBPUSD) October 18, 2017 The pound edged lower this morning after official data showed real-terms UK wages continued to fall in August, despite a higher-than-expected rise when inflation is stripped out. Data by the Office for National Statistics (ONS) showed average weekly earnings excluding bonuses rose 2.1 per cent in August, higher than the two per cent expected. However, [...]
Brewdog launches fifth equity crowdfunding round to fund new breweries and global growth October 18, 2017 Brewdog’s latest round of equity crowdfunding has now officially kicked off, nearly a month after the craft brewery accidentally published the announcement early. The irreverent Scottish craft brewer hopes that the fifth “equity for punks” raise will bring in an extra £10m, and is even hoping it could overfund up to £50m which would make [...]
The founder of Smarkets is turning workplace hierarchies upside down | City A.M. October 18, 2017 With the current Conservative leadership narrative resembling a combination of Shakespeare’s Comedy of Errors and Julius Caesar, there’s plenty speculation about which path history will take – “Will Boris get the boot?”, “Will May resign?” etc. Cue Smarkets – a stock market for betting: you bet against other betters, not the house. Founder Jason Trost’s [...]
Unhappy and unengaged employees are losing the UK £85bn a year October 18, 2017 Disengaged employees in the UK are costing £85bn a year in lost productivity, according to a new study. The proportion of workers who are actively involved and enthusiastic about their jobs in the UK is just 11 per cent, Gallup’s State of the Global Workforce report found. The results found that 68 per cent of [...]
Lessons for a globalised digital future from E-stonia’s pioneers | City A.M. October 18, 2017 It is no secret that the pace of technological change is accelerating. Look no further than the tabloids for headlines on the rise of service sector automation, or the imminent arrival of driverless cars. Technology is changing the rules of the game as it always has. Businesses have been quick to learn – harnessing the [...]
Mifid II will definitely come into force next January as EU commissioner rules out further deadline extensions October 17, 2017 The EU’s financial services chief has today ruled out any further delay to an apprehensively awaited array of securities market reforms. The new Markets in Financial Instruments Directive (Mifid II), due to come into force in January, has already been postponed for 12 months and the European Commission had left open the possibility that this [...]
Fund managers are more optimistic than pessimistic about economic conditions for the first time in six years October 17, 2017 The number of fund managers globally who are optimistic about macroeconomic conditions has reached a record high of 48 per cent, according to Bank of America Merrill Lynch (BAML)’s monthly fund manager survey. For the first time since 2011, expectations for a “Goldilocks” environment – where growth is above trend and inflation is below trend, [...]
Antonio Conte says small Chelsea squad is struggling to cope with increased demands ahead of Roma Champions League clash October 17, 2017 Antonio Conte is ready to unleash Alvaro Morata in Chelsea’s Champions League clash against Roma tomorrow night, but has warned his squad is struggling to cope with a busy fixture list. Morata missed Chelsea’s shock 2-1 defeat at Crystal Palace on Saturday, while N’Golo Kante, Victor Moses and Danny Drinkwater have all been ruled for [...]
OECD: Reversing Brexit would give “significant” boost to UK economy October 17, 2017 Reversing Brexit would give the UK economy a “significant boost” the Organisation for Economic Co-operation and Development has claimed. A major report, presented in London today, claims that increasing domestic pressures combined with the uncertainty of Brexit could hamper growth in the medium term. The 130-plus page report states that after a “good performance” in [...]