Epiris proves its strength as a standalone private equity manager as split with Electra approaches May 25, 2017 Private equity manager Epiris has cemented its position as a strong standalone player, as its final split with listed investment trust Electra Private Equity (EPE) approaches. EPE, which used to count Epiris as its exclusive manager before effectively sacking it last year, has released its results for the first half of 2017 – a period [...]
Cashless society? Debit cards will overtake cash much sooner than expected with the rise of contactless May 25, 2017 The rising popularity of using contactless in the UK means we might just be heading for a cashless society sooner than we thought. New figures reveal debit cards are set to overtake the use of cash next year – three years earlier than experts had previously predicted. Read more: Forget contactless, train tickets could soon [...]
Mongolia receives $5.5bn IMF bailout as central Asian economy tries to fight back from commodity price shock May 25, 2017 Mongolia has received the go-ahead on a $5.5bn bailout from the International Monetary Fund (IMF) as the commodity-rich country tries to shore up its crisis-ridden economy. The central Asian country agreed a wide range of structural reforms to its economy in exchange for the payout, the IMF said. This includes cuts to government spending, instituting [...]
From surviving to thriving: Why the mental health of your employees matters May 25, 2017 Following Mental Health Awareness Week earlier in May, my thoughts turned to this year’s theme: surviving or thriving. The theme marks a turning point in our approach, shifting from mental ill-health to exploring how we can cultivate emotional and mental resilience. Many people will experience difficulty in their lives. Across Europe, one in four people [...]
Long-awaited FX global code of conduct is released, but does not ban controversial “last look” practice May 25, 2017 A further attempt to clean up the tarnished reputation of the FX market was launched today, with the release of a global code of conduct establishing common guidelines for good practice. Developed under the supervision of the Bank of International Settlements by the Foreign Exchange Working Group (FXWG), consisting of 16 major central banks, the [...]
Chief executives must do more to adapt their companies to the working practices of tomorrow May 25, 2017 Most chief executives and other C-suites in the City must admit they’ve fallen behind the fast-moving digital curve – and catching up could be the most important challenge they have ever faced. Incumbency offers the shakiest of foundations as startups and challengers disrupt the landscape through rapid implementation of new technologies and ideas, attracting the [...]
Elizabeth Denham, information commissioner (ICO), says that with one year to go, UK firms have no time to waste in preparing for GDPR May 25, 2017 The General Data Protection Regulation (GDPR) is the biggest change to data protection law in a generation. While it builds on the previous legislation, it brings a 21st century approach to the processing of personal data, providing much more protection for consumers, and more privacy considerations for organisations. And with just one year to go [...]
One year until The EU General Data Protection Regulation: The business world speaks out about the biggest ever overhaul of data legislation May 25, 2017 Exactly one year from today, “the most lobbied piece of legislation in history” – the EU’s General Data Protection Regulation (GDPR) – will be enacted, radically overhauling the relationship businesses have with personal data through a raft of new obligations and consumer rights. The way firms collect, store, process and protect the personal information of [...]
Manchester bomber was known “up to a point” by security services, home secretary Amber Rudd has confirmed May 24, 2017 Home secretary Amber Rudd has confirmed that Manchester bomber Salman Abedi was a known figure to the UK’s security services. Speaking after the UK’s threat level was upgraded to “critical”, meaning a new attack may be imminent, Rudd told Sky News this morning that “people are likely to see some military on the streets”, but [...]
A helping hand in solving the UK’s ‘productivity puzzle’ May 24, 2017 The Office for National Statistics’ (ONS) most recent labour productivity figures found Britain’s workers have managed to improve their output per hour by 1.2 per cent when compared to the first quarter last year. On the face of it this seems like a victory, but the ONS itself caveated the results: “the data provides little [...]