Blockchain is warming up: Asset manager Natixis says it has made the industry’s first ‘real’ transaction using the technology on the FundsDLT platform July 6, 2017 France’s Natixis Asset Management claims it has made the first “real” blockchain transaction completed in fund distribution, as investors purchased shares in its funds via the technology. Natixis announced last month that it would be the first asset manager to use the FundsDLT platform, a blockchain-powered fund distribution platform. Read more: Blockchain wallet business raises [...]
Butter warning: Anchor and Cravendale owner Arla’s boss warns of butter shortage before Christmas this year July 6, 2017 Dairy-lovers and toast fans, you might want to look away now: the UK has been warned it’s facing a shortage of butter and cream this Christmas. Insufficient milk is being supplied by farmers to make dairy products, Peder Tuborgh, boss of dairy group Arla, told the BBC. Farmers “put the brakes on” in 2016, he [...]
Transport for London (TfL) says one billion contactless payment journeys have now been made across London’s transport network July 6, 2017 Over one billion journeys have now been made on London’s transport network using contactless payment cards, according to new figures from Transport for London (TfL). Almost £2bn has been spent by customers using pay as you go with contactless since it was introduced at the end of 2012, And TfL said that customers have saved [...]
Wealthy Britons think Theresa May’s Conservative government will make them richer July 6, 2017 More than half of wealthy British people think the current government will make them richer, a new survey has revealed. Some 59 per cent of high-net-worth people, those with non-property assets of more than £100,000, think this government will benefit their wealth, according to a survey by IW Capital, an investment manager. A majority of [...]
Property mogul Vincent Tchenguiz wants to sell his portfolio of Hilton hotels for £600m, Savills and JLL have been appointed as advisers July 5, 2017 Vincent Tchenguiz is looking to sell a portfolio of 10 Hilton-branded hotels for £600m. “We’ve had these hotels for nearly 15 years and I think now is a good opportunity to sell them,” the property mogul told City A.M. Tchenguiz confirmed he is looking to sell the 603-bedroom Kensington Hilton individually for £300m. However, he [...]
UK tech shrugged off Brexit with record VC investment in the first half of 2017 July 5, 2017 The UK’s high-flying tech sector has shrugged of the fallout from Brexit notching up a record level of investment in the first half of the year. And London retained its tech crown ahead of rival cities in Europe, fresh figures from London & Partners and Pitchbook reveal. In the first six months of the year, [...]
Three-quarters of millennial graduates will never pay off their student loan July 5, 2017 Millennials want mobile-friendly banking and fixed rate mortgages, but many are overwhelmed with student debt, as a slew of new reports out today has shed light on the finances of the UK’s young people. Three quarters of graduates since 2011 will never pay off their full student loan, while high earners can expect to pay [...]
LGA: Skills gap to cost UK £90bn as Brexit piles on jobs pressure July 5, 2017 The UK’s skill gap could cost the UK’s economy £90bn a year by 2024, new research suggests. There will be 21.8m people chasing low and intermediate-skilled jobs by the middle of next decade – a surplus of 8.1m – while there will be 4.2m highly skilled jobs that cannot be filled by the right candidate, [...]
Southern rail: Transport secretary accuses Labour of stoking up unrest on the railways July 4, 2017 Transport secretary Chris Grayling has accused senior Labour figures of stirring up unrest at Southern rail and encouraging further industrial action on the beleaguered network. Speaking at a House of Commons debate yesterday to discuss the publication of a report into the train operator’s performance by Chris Gibb, a non-executive director at Network Rail, Grayling [...]
Gold sentiment fell in June as investors cut holdings for the third month on price volatility and record high stock markets July 4, 2017 Gold sentiment among Western investors fell from May’s five-month high last month as global stock markets set new records. Investors on BullionVault, the biggest online market for physical precious metals, cut their total gold holdings for the third consecutive month in June. New interest in the safe-haven asset also remained weak. The number of new [...]