Cyber attacks are prompting a boost in cybersecurity M&A, figures from Hampleton Partners reveal July 6, 2017 Both strategic buyers and private equity firms are showing a renewed interest in cybersecurity acquisitions, new figures from technology-focused merger and acquisition (M&A) advisor Hampleton Partners reveal. After 2010, following the period when software-based cybersecurity systems were being hoovered up in massive deals such as Intel’s $7.68bn takeover of McAfee, the value of deals done [...]
Hedge funds don’t need masses of assets under management to make a profit, a new study from GPP and Aima reveals, contrary to previous figures July 6, 2017 Small hedge funds are able to turn a profit and expand with considerably less than $100m (£77.28m) in assets under management, a new study has revealed from prime broker GPP and trade body the Alternative Investment Management Association (Aima). The survey of 135 smaller hedge funds across the globe found that the average break-even point, [...]
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, [...]