Data Protection Bill: How the UK’s data laws will now be fit for the digital age September 14, 2017 They’ve always said that information is power, and in the digital age, data increasingly powers the world. It drives price comparison sites and improves the flow of transport around cities. Using data properly adds billions of pounds to the economy, and helps improve and save lives. We are yet in the foothills of the digital [...]
Crossrail 2 delays could cost £18bn if Crossrail mistakes are repeated, warns London First boss September 14, 2017 London business leaders will warn today about the risk of losing a “decade to indecision and delay” that could cost up to £18bn if a firm commitment is not made to Crossrail 2. Jasmine Whitbread, the chief executive of London First, will say at the London Infrastructure Summit that without a firm commitment to keep [...]
Cider fizzes to three-year high as sales hit £1bn September 14, 2017 A resurgence in the popularity of cider has boosted sales to a level not seen since 2014. In the year to 15 July, cider sales rose 5.5 per cent to just over £1bn, according to measurement company Nielsen. The boom was partly attributed to unseasonably warm weather. Sales between the middle of May and July [...]
Why India beats Britain for women in tech September 14, 2017 The technology sector is notorious for under-representing women. If asked to name top male industry figures, the likes of Bill Gates, Mark Zuckerberg, and the late Steve Jobs roll off the tongue with ease. But most people would struggle to name their female counterparts. This doesn’t mean that women aren’t carving themselves out a space [...]
Sadiq Khan on Digital London: How we can remain a capital of innovation September 14, 2017 London is the world’s business capital and the engine of Britain’s economy. Our city has always been an incredible hotbed of innovation and disruption. As Britain prepares to leave the EU, we must embrace our entrepreneurial spirit more than ever, to ensure our economy continues to go from strength to strength over the decades ahead. [...]
Chancellor Philip Hammond tells City a bespoke Brexit deal will be crafted for the UK financial services September 13, 2017 Chancellor Philip Hammond tonight told City grandees he will help craft a “bespoke deal” for the UK financial services sector in Brexit negotiations, as industry voices continue to call for greater clarity on the details of any proposed transitional period. In his speech to the UK Finance Annual Dinner at Mansion House tonight, Hammond set out [...]
Addison Lee acquires Tandem Technologies to fuel New York launch September 13, 2017 Addison Lee has acquired a New York-based taxi platform in the latest US expansion plans for the minicab firm beyond its home turf of London. The deal to buy black car service Tandem Technologies from transport operator Transdev will see the launch of the Addison Lee brand in the states for the first time, as [...]
Toscafund launches €300m fund to invest in unlisted financial and business services companies September 13, 2017 Multi-asset manager Toscafund has launched a new €300m private investment fund, to invest in financial and business services companies around Europe. To head the team, Toscafund has hired Fabrizio Cesario and George Koulouris – both formerly of private equity firm Anacap Financial Partners, a financial services specialist. Read more: Au revoir: Barclays completes sale of [...]
Investment managers predicted to cut research and execution spending by $1.5bn post-Mifid as Deutsche AM and Franklin Templeton absorb research costs September 13, 2017 Investment managers are expected to cut their spending on broker research and execution by $1.5bn (£1.13bn) following the implementation of the second Markets in Financial Instruments Directive (Mifid II) in January, according to a new study. The report, from management consultancy Oliver Wyman, has predicted this could rise to $3bn “if a full-blown price war [...]
Balderton and Mike Lynch’s tech fund Invoke Capital back Sophia Genetics, an AI DNA analysis startup, with £30m September 13, 2017 A Swiss biotech firm that uses machine learning to analyse genetics used by several of the UK’s NHS trusts has bagged millions of pounds in fresh funding from Balderton Capital and Mike Lynch’s Invoke Capital. Sophia Genetics’ technology can accelerate diagnosis of cancer and other hereditary diseases by using algorithms to analyse DNA, reducing the [...]