Tech founders warn UK at risk of losing global fintech crown August 27, 2019 Tech founders have warned that the UK is at risk of losing its position as the global fintech leader. Sector leaders urged the government to “not be complacent” about the country’s fintech crown, as a new survey revealed that founders were concerned about access to talent and capital and the potential impact of Brexit. Read [...]
Lane Clark and Peacock plots takeover of KPMG pensions arm August 26, 2019 Lane Clark and Peacock (LCP), one of the UK’s largest independent financial consultancy firms, is preparing a £200m takeover of KPMG’s pensions advisory arm. The company, which is backed by buyout firm Inflexion, is among a small group of bidders that have made it through to the second round of the auction, Sky News reported. [...]
Record quake reignites calls for fracking ban August 26, 2019 Ministers faced renewed calls to ban fracking today as a record-breaking earthquake shook homes in Blackpool just weeks after the government said it may review limits which the industry says are stifling business. A 2.9 magnitude quake by Cuadrilla’s Blackpool site woke up locals enjoying a bank-holiday lie-in. Read more: Record-breaking 2.9 earthquake measured at [...]
UBS turns bearish on stocks due to US-China trade war August 26, 2019 UBS Global Wealth Management has recommended that clients sell stocks due to concerns that the latest escalation in the ongoing trade war between the US and China could threaten global markets. The world’s largest wealth manager cut its core equity recommendation to “underweight” after US President Donald Trump increased tensions between the two countries as [...]
German CDU leader pledges to keep balanced budget as recession looms August 26, 2019 The leader of Germany’s ruling party has resisted calls to increase government spending to stimulate the economy, saying the “black zero” balanced budget policy is “indispensable”. Read more: German business confidence slumps to lowest point since 2012 Annegret Kramp-Karrenbauer, the leader of German Chancellor Angela Merkel’s Christian Democrats (CDU), said at a news conference: “The [...]
Netherlands in talks with 325 companies about relocating because of Brexit August 26, 2019 The Dutch government is in talks with 325 companies that are thinking about relocating because of Brexit, the Dutch investment agency said. The Netherlands Foreign Investment Agency (NFIA) said almost 100 companies had already moved some business to for the Netherlands, with 325 more expressing an interest in relocating to the country to lessen the [...]
Links of London owner Folli Follie hires advisers to weigh up possible sale August 26, 2019 The owner of Links of London has confirmed that it has drafted in advisers to weigh up a sale of the troubled jewellery group. Read more: Laura Ashley drops into the red amid tough retail conditions Folli Follie, the Greek owner of the retail chain, said today that it has told Deloitte and Savigny Partners [...]
Police fire water canon and tear gas at Hong Kong protesters August 25, 2019 Police have fired water canon and tear gas at pro-democracy protesters in Hong Kong as tensions continue to escalate. Reuters reported that protesters were using bricks and petrol bombs against the authorities. Read more: Hong Kong protests: Police use tear gas to disperse crowds are petrol bombs thrown The city’s MTR metro service has been [...]
BA passengers complain after flight cancellation confusion August 25, 2019 British Airways passengers have complained that they have been unable to contact the airline following confusion about flight cancellations ahead of next month’s pilot strike. British Airways pilots are due to strike on the 9, 10 and 27 September after failing to reach an agreement with members of the British Airline Pilots Association (Balpa) over [...]
UK’s only fracking site in Blackpool hit by largest-ever tremor August 25, 2019 Britain’s only fracking site in Lancashire experienced its largest-ever tremor caused by the practice last night. Energy firm Cuadrilla confirmed that a tremor measure 2.1 on the Richter scale was recorded at its shale gas exploration site in Blackpool just after 11pm in the evening. Read more: Fracking halts after earthquake at Cuadrilla site The [...]