Biotech giant backed by Neil Woodford confirms £100m London float February 2, 2017 UK healthcare giant Arix Bioscience, backed by biotech entrepreneur Sir Chris Evans and star investor Neil Woodford, is hoping to raise £100m in a stock market float in London. Arix, which raised more than £50m from Woodford Investment Management and other institutional investors, focuses on developing businesses addressing medical innovation. The London-based company has acquired direct interests in [...]
Middlesbrough pawnbroker aiming to float on London’s junior market February 2, 2017 A Middlesbrough-based pawnbroker has announced plans to float on London’s junior stock market this month. Ramsdens, which is advertised on the shirts of Middlesbrough Football Club, is seeking to raise £15.6m through an initial public offering (IPO) expected on 15 February. The flotation on the Alternative Investment Market (Aim) is expected to price Ramsdens’ shares [...]
Bank of England in dramatic upgrade of UK growth forecasts February 2, 2017 Bank of England governor Mark Carney dramatically revised up growth forecasts today, while dismissing fears of banks leaving the UK after Brexit. The Bank now predicts no slowdown over the course of this year. GDP will climb two per cent, according to the Bank’s latest forecasts, the same rate as growth in 2016. The upgrade [...]
French bond yields rise as Fillon scandal threatens to deliver far-right Marine Le Pen the Presidency February 2, 2017 Investors are fleeing French government debt on fears that far-right Marine Le Pen will become President, as the candidacy of former favourite Francois Fillon continues to be tainted by a scandal involving his Welsh-born wife. The yield on the French 10-year government bond has risen steadily over the past month to reach highs of 1.128 [...]
Shell share price moves up at the open as it maintains dividend and keeps capex at previously forecast levels February 2, 2017 Shell said today it will maintain its dividend and keep 2017 capex at previously forecast levels, after unveiling a massive jump in income. The figures Revenues for the full year fell to $233.6bn (£184.5bn) from $265bn, although it was up in the fourth quarter at $64.7bn, compared with $58.2bn in the final quarter of 2015. [...]
Stop expecting central bankers to grow the economy: They can’t February 2, 2017 In 2008, monetary authorities around the world embarked on an unprecedented series of experiments. As economies tanked and governments throttled back on fiscal measures in the face of huge debts and deficits, people looked to central bankers to use monetary policy to stimulate economic growth. Since then we have seen a range of once outlandish tools [...]
Britain can lead the world in free trade – by keeping trade deals simple February 2, 2017 In some ways, the Brexit referendum settled a long-running question. However, it has also raised more profound issues that this government now needs to address. These include the question of whether we should adopt a policy of openness, free trade and liberalisation of regulation at home. And then, should we take the lead in promoting such [...]
The UK’s SME manufacturers have seen new orders grow as price pressures rise February 2, 2017 Domestic orders grew at the fastest pace in two years to give the UK’s small and medium-sized enterprises (SMEs) a welcome boost ahead of Brexit, according to a new survey. Almost a third of SMEs say domestic demand has increased, according to a survey by the Confederation of British Industry (CBI). The outlook for the [...]
Top business leaders are getting to work on making British industry digital to boost productivity and jobs February 1, 2017 It's full speed ahead for Britain's digital economy as top business leaders embark on ambitious plans to pull industry into the modern age and position itself at the forefront of the fourth industrial revolution. Increasing productivity and creating highly-skilled jobs will be the focus of the ambitious new plan to put digital technology, such as artificial [...]
US Federal Reserve leaves interest rates unchanged February 1, 2017 US Federal Reserve chair Janet Yellen said interest rates would be maintained at 0.5-0.75 per cent as the labour market continues to strengthen and economic activity expands. At the Federal Open Market Committee meeting (FOMC) today, Yellen said inflation increased in recent quarters but is still below the committee's two per cent long-run objective. She said the [...]