Estonia proposes estcoin, a government backed cryptocurrency, issued via an initial coin offering (ICO) after e-residency success August 22, 2017 Estonia is living up to its digital reputation and setting tongues wagging with its latest idea: its very own digital currency issued via an initial coin offering (ICO). The buzz word of the moment in the heady world of cyptocurrencies, ICOs, are being used to raise cash via a digital token that’s issued to investors. [...]
India’s renewable sector is set to boom by 2030 with green energy poised to meet a quarter of total demand August 22, 2017 India is emerging as a global leader in renewable energy as a quarter of the country’s total energy demand could be filled by renewables by 2030, according to a new report. Electricity demand in India has grown by 10 per cent a year over the past decade, and a report by the International Renewable Energy [...]
Lloyd’s of London’s software provider Sequel sold for £250m by private equity backer HgCapital to US-listed Verisk August 22, 2017 Sequel, an insurance software and services provider which serves Lloyd’s of London, has been sold for £250m to US data analytics business Verisk. The sale will have generated a strong return for private equity firm HgCapital, which bought a stake in the business three years ago through its technology-focused Mercury I fund. Mercury I has [...]
Unilever, Walmart and Nestle are starting a major blockchain project with IBM August 22, 2017 Unilever, Nestle, Walmart and a handful of the world’s top retail and food brands are joining forces to tackle food safety with the help of blockchain technology. The 10 companies will work with IBM on a new project that will look at how the distributed ledger technology (DLT) behind bitcoin could be used to track [...]
Top UK university Imperial College is shaking up how it spins out innovative startups and taking inspiration from Stanford and MIT August 22, 2017 One of the UK’s top universities is shaking up how it spins out innovative startups to encourage more experts to found companies and boost the UK’s technology industry. Imperial College will pilot a new programme to help researchers commercialise their technologies that gives them up to a 95 per cent share of the company. Read [...]
Provident Financial share price falls 61 per cent: Woodford-backed firm warns again on profits and chief exec quits August 22, 2017 Provident Financial shares were in freefall this morning, falling 61 per cent in opening trades after the firm announced it had been hit by another profit warning. And as business spirals downwards, the chief executive has quit with immediate effect. Over £1.5bn has been wiped off the Neil Woodford-backed firm’s market capitalisation in a matter [...]
EY heads off competition and snares BHP Billiton audit from 2019 August 22, 2017 Big Four accountant EY has snared a lucrative victory, replacing KPMG as mining giant BHP Billiton’s auditor. BHP conducted an audit tendering process during the year in the wake of regulations forcing firms to rotate their statutory accountants. As a result, incumbent KPMG did not bid to continue its role. EY will take over from [...]
DEBATE: Is the Economists for Free Trade £135bn figure realistic? August 22, 2017 DEBATE: Is the Economists for Free Trade £135bn figure realistic? YES – Professor Graeme Leach, member of Economists for Free Trade. The impact of unilateral free trade on an economy is not rocket science, but it is enormously powerful. EU membership means surrounding the UK with a protectionist wall from tariffs against the rest of [...]
Seneca Investment Managers causes a stir saying it will stop investing in US stocks and shares August 21, 2017 Investment manager Seneca has caused a stir in the industry today, saying that it will completely eliminate exposure to US equities in its Global Income & Growth Trust. The firm believes that the US has moved from the “recovery” phase of the business cycle to the “expansion” phase, at which point the tightening of monetary [...]
British wine lovers look to Eastern Europe and Portugal as wine price rises August 21, 2017 Sales of wine from Eastern European countries have quadrupled at the UK’s largest wine retailer since the Brexit vote. Figures released yesterday by Majestic Wine show that British consumers are turning away from the traditional wine regions as the average price of a bottle reaches an all-time high of £5.55. Read more: It’s official: Wine [...]