There’s a lesson from Dyson’s Singapore move, but it has nothing to do with Brexit January 25, 2019 There’s no question that Dyson’s move from Wiltshire to Singapore will be a loss to Britain. The company boasts profits in excess of £1bn, employs 4,000 in its Malmesbury offices alone, and is one of the UK’s major business success stories. But that doesn’t justify the political backlash we’ve seen. In true polarising fashion, owner Sir [...]
Editor’s Notes: Davos – a festival of irrelevance and hypocrisy January 25, 2019 Davos brings the same delights every year. From the press release about the number of private jet movements to Oxfam’s annual criticism of the global super-rich, there are predictable elements to this week-long event. Another thing you can always be assured of is that some staggering hypocrisy will be on display. I came across a [...]
Jardine Matheson briefly loses $41bn in value following mystery trade January 24, 2019 Hong Kong-British conglomerate Jardine Matheson briefly lost $41bn (£31.5bn) in its share value today with the company blaming an electronic trading error. Jardine Matheson’s Singapore-listed shares traded down 83 per cent before rebounding, in what was originally suspected to be a so-called fat-finger trade. Around 167,500 shares in the company traded at $10.99 versus Wednesday’s [...]
Apprenticeship levels up on last year but still hampered by 2017 levy January 24, 2019 More people started apprenticeships in the first quarter of the 2018-19 academic year than in the year before, but are still below equivalent figures reported in 2016-17 and 2015-16. There were 132,000 starts between August and October last year, up 15.4 per cent year-on-year from 114,300, according to Department for Education (DfE) figures published this [...]
Household spending reaches pre-crisis levels as labour market strengthens and inflation falls January 24, 2019 Household spending rose to pre-crisis levels last year and family spending power grew at its fastest rate in more than two years. Weekly spending rose to £572.60 in the year ending March 2018, the highest since 2005 after adjusting for inflation, the Office for National Statistics said today. Family spending power was also £11.37 – [...]
Business lender Iwoca gets a helping hand with £7.5m from London fund Augmentum Fintech January 24, 2019 Small business lending challenger Iwoca is planning to close its next funding round within weeks, as the first stage of investment is revealed. London-listed fund Augmentum Fintech has plugged £7.5m into the round, which City A.M. understands to be part of a much larger series D raise to be announced in early February. A representative for Iwoca declined [...]
Shares plunge in listed law firm Gordon Dadds following £10m placing January 24, 2019 Shares in listed law firm Gordon Dadds plunged nearly 25 per cent today after it announced a £10m share placing. The firm said the accelerated bookbuild was successful and oversubscribed, conditional on the passing of a placing resolution at a general meeting and the admission of the shares to the Aim market. The firm’s share price [...]
The Premier League is one of the UK economy’s star players January 24, 2019 I am a Stoke City supporter and a huge fan of all football. For me, it really is the beautiful game, and that makes me especially pleased that EY’s new report on the economic and social impact of the Premier League demonstrates just how much football contributes to the UK economy and society. The Premier League [...]
Fresnillo shareholders fail to see silver lining as production set to drop January 23, 2019 Shares in Fresnillo fell by over two per cent today as the company warned investors that production from its silver mines may drop off after a “challenging” 2018. Silver output will fall to between 58m to 61m ounces, the company said, sending shares down 2.56 per cent to 888.8p just before markets closed. Read more: Fresnillo share [...]
FCA says UK firms need ‘clarity’ on cryptoassets as it consults on regulation January 23, 2019 The UK financial watchdog has called for further clarity in the regulation of cryptoassets, as it launches a consultation on guidance applicable to the wide sphere of crypto. The Financial Conduct Authority (FCA) said firms will have a better understanding of whether their activities with cryptoassets such as bitcoin are compliant with regulation as a result of [...]