London house prices: Here’s how far London house prices have fallen due to stamp duty September 7, 2017 Stamp duty has stagnated London’s housing market and pushed down prices, according to research released today. London sales volumes have fallen by seven per cent, and prices in some parts of the capital have fallen by as much as seven per cent, a report by estate agent Aston Chase has found. Read more: Jacob Rees-Mogg [...]
Transport for London is “urgently” investigating Taxify, the city’s newest ride-hailing startup and rival to Uber | City A.M. September 7, 2017 London’s transport authority is “urgently” investigating Taxify, a ride-hailing startup which launched in the capital this week to take on Uber. “Taxify is not a London licenced private hire operator. We are urgently investigating the nature and extent of its activities and will take action where appropriate,” a Transport for London spokesperson told City A.M.. [...]
SMEs spend an average of £1m on their businesses every year, and London-based firms spend the most September 7, 2017 Small and medium sized enterprises (SMEs) in the UK spend an average of £1m each on business expenditures every year, and Londoners splashed the most cash of any region, new research suggests. Larger SME firms, or those with about 50 employees or more, spent an average of £3m every year on buying goods and services [...]
Meet the firm which hopes to solve the late payment problem September 7, 2017 Most firms just aren’t ready for the tsunami of changes around working capital which will hit British businesses this year. This warning comes from Tony Duggan, chief executive of fintech firm Crossflow Payments, a company which acts like a cog between corporations, their suppliers, and funding providers – ensuring that suppliers don’t have to wait [...]
Cut the fearmongering, the City should welcome Brexit September 7, 2017 There is an angst hanging over the City. The merchants of doom and gloom have spread the message far and wide that, post-Brexit, the City will be in a battle for its very survival. Utter twaddle. Here are 10 reasons why the City won’t just survive, but could thrive post Brexit. If the government makes [...]
Exclusive: Hard Brexit will lead to Operation Stack-level queues on a daily basis, claims British Ports Association boss September 7, 2017 A hard Brexit could lead to Operation Stack-level queues on a daily basis, the chief executive of the British Ports Association has said. Richard Ballantyne told City A.M. that ports on both sides of the Channel faced extreme lorry tailbacks, akin to those that caused chaos in 2015 during the Calais migrant crisis, if no [...]
EY, Maersk, Microsoft, startup Guardtime and insurers are putting boats on the blockchain with marine insurance tech platform | City A.M. September 6, 2017 EY, shipping giant mersk and Microsoft are among the companies planning to get boats on the blockchain, or their insurance, at least. The professional services firm is building a blockchain-based platform that can streamline marine insurance for the shipping industry. It is working with Estonian enterprise blockchain startup Guardtime and Microsoft to build the technology [...]
Deutsche Bank chief executive John Cryan: Frankfurt is in competition with New York and Singapore, not Dublin and Paris, for Brexit spoils September 6, 2017 Frankfurt is competing with New York and Singapore, rather than Dublin and Paris, for post-Brexit spoils, according to the boss of Deutsche Bank. John Cryan said the race to become the European Union’s new leading financial centre was “won before it even began” after the UK’s Brexit vote. “Of course, new financial industry jobs will [...]
L Catterton to take £15m stake in Scottish craft brewer Innis & Gunn September 6, 2017 Scottish craft brewer Innis & Gunn has got the backing of one of the world’s largest consumer investment groups L Catterton in a deal which gives the company an estimated value of about £58m. L Catterton, the merger between luxury goods giant LVMH and private equity firm Catterton Partners, is set to take a 27.9 [...]
Intel claims a victory against EU over €1bn antitrust fine after ECJ ruling September 6, 2017 Intel has claimed a victory in its decade-long dispute with competition authorities in Brussels. Europe’s top court has today referred an antitrust case which was seeking to impose a €1bn fine on the tech company back to a lower court to be reviewed. The penalty – the biggest ever imposed by the EU competition commission [...]