London is leading the recovery – but is the rest of the UK catching up? January 27, 2014 London has created 10 times more private sector jobs than any other city in the UK, according to research conducted by the Centre for Cities. The Cities Outlook report is an economic index of the 64 largest towns and cities in the UK, with this year's adopting a special focus on London. Cities Outlook 2014 [...]
Cameron’s red tape bonfire has been left far too late January 27, 2014 Prime Minister David Cameron has promised today to slash thousands of pages of “crazy” guidance for businesses by up to 90 per cent. Speaking at the Federation of Small Businesses conference, Cameron said that the government will scrap or change more than 3,000 regulations that range from the “serious to the ridiculous”. 80,000 documents of [...]
Here’s how a new 3D printer adds a dash of colour January 27, 2014 Minnesota-based company Stratasys has unveiled the world's first 3D printer that combines colours with multi-material printing. The 3D printing firm branded its latest device a "game-changer for product design, engineering and manufacturing processes." The new printer uses triple-jetting technology that combines droplets of three base materials to produce products with almost unlimited combinations of rigid, [...]
Ruffled Remy Cointreau names new cognac chief January 27, 2014 More shakeup for unsettled Remy Cointraeu. The French alcohol company has today announced a top executive from luxury conglomerate LVMH, Eric Vallat, as the new head of its cognac division, Remy Martin. Remy is facing uncertainties when it comes the future, as it struggling with falling sales, due to waning demand in China. Vallat, who [...]
Turkey’s central bank to hold emergency meeting as lira crumbles January 27, 2014 After hitting fresh lows this morning, news that the Central Bank of the Republic of Turkey is to hold a flash meeting on 28 January is giving the embattled currency some hope. USDTRY completely turns around as Turkish Central Bank announces extraordinary meeting to be held tomorrow. pic.twitter.com/mYRhwDunvW — Jonathan Ferro (@FerroTV) January 27, 2014 [...]
German business sentiment at highest levels in two-and-a-half years January 27, 2014 A clean bill of health for the German economy this morning. The Ifo survey has beaten or matched analyst expectations across the board. The headline business climate index is up to its highest level since July 2011 at 110.6, up from 109.5 prior. But Johnathan Loynes, chief European economist at Capital Economics, says that the [...]
Over half of UK businesses to raise pay this year January 27, 2014 Over half of UK firms are planning to raise wages over the coming year, according to a study by Barclays. 57 per cent of the 684 businesses surveyed say they’ll up wages, with 39 per cent planning increases across the board. Kevin Wall, co-head of corporate banking origination at Barclays, said: After an extended [...]
Google snaps up UK artificial intelligence company DeepMind for $400m January 27, 2014 Google has agreed to buy London-based artificial intelligence (AI) company DeepMind for a reported $400m (£242m). The price was first reported by technology news website Re/code. The deal represents Google's largest European acquisition. DeepMind was founded in 2012 by 37-year-old chess prodigy and neuroscientist Demis Hassabis, along with Shane Legg and Mustafa Suleyman. The AI [...]
Arm Holdings announces new chairman January 27, 2014 Chip designer Arm Holdings has announced that Stuart Chambers, current chairman of Rexam and a non-executive director of Tesco, will take over as chairman designate from 1 March. Chairman Sir John Buchanan is stepping down because of a medical condition. Buchanan’s exit marks more change for the Cambridge-based FTSE company. Last March it said goodbye [...]
Asian shares are nosediving. Here’s what you need to know January 27, 2014 Asian shares plummeted in trading today. Fears of a credit crunch in China, the growing possibility of more tapering in the US and the continuation of a full-scale flight from emerging markets on the back of political problems in Argentina, Ukraine and Turkey. Japan's Nikkei share average abandoned the 15,000-level, tumbling 2.5 percent – a [...]