German business sees a surprise fall in confidence as political risk looms January 25, 2017 Confidence in businesses in Germany has posted a surprise fall to start 2017, as worries over Europe’s medium-term outlook increased, according to a long-running survey. Sentiment fell from a three-year high in December to its lowest point since September, according to a survey of over 7,000 companies by Germany’s Ifo Institute. Analysts had expected a [...]
This Aim-listed x-ray firm is set to raise £21m January 25, 2017 Aim-listed radiation detection tech firm Kromek has raised £21m through a conditional firm placing and open offer. The firm placing of 100m shares at 20p apiece was over-subscribed with new and existing institutional investors in the company taking part. At the time of writing, Kromek's share price rose by nearly seven per cent. Kromek provides digital colour x-ray [...]
Optimism at two-year high ahead of Brexit for UK manufacturers as domestic demand drives morale up January 25, 2017 A boom in domestic demand has boosted optimism among British manufacturers to increase at its fastest pace for two years ahead of Brexit, according to a survey of UK businesses. More than a quarter of manufacturing firms are optimistic for prospects for the year ahead, according to the Confederation of British Industry (CBI), outweighing negative [...]
I can see clearly now: Sterling jumps to six-week high against the dollar January 25, 2017 The pound jumped to within spitting distance of $1.26 this morning, its highest in six weeks, as investors heralded a new age of certainty following yesterday's Article 50 decision. The pound touched $1.2596 in morning trading, 0.6 per cent higher, while it rose 0.4 per cent against the euro to €1.1717. Although sterling dipped yesterday [...]
Pay-as-you-go insurtech startup Cuvva has raised cash from a top VC January 25, 2017 A fintech startup offering motorists flexible pay-as-you-go insurance by the hour as landed new investment from one of the UK's top venture capitalists. London-based Cuvva has landed £1.5m seed capital from Robin Klein's LocalGlobal, a backer of Zoopla and Citmapper, to target urban drivers who use their cars infrequently and tapping into the same habits which [...]
The NHS will never have enough cash: Our national religion needs a reformation January 25, 2017 We British like traditions. A well-established one which comes round every year is the “winter crisis” in the NHS. Health provision is a political hot potato not just for this government, or indeed for any particular UK government, but for governments across the developed world. One of the key assumptions made by economists about human behaviour [...]
Saudi Aramco eyes bankers for what could be the world’s biggest float January 24, 2017 Global banking giants are set to compete for an advisory role on oil goliath Saudi Aramco’s multi-billion-dollar float, which is expected to be the world’s biggest initial public offering. The Saudi state-owned firm, thought to be the world’s largest oil producer, has requested proposals from banks including Morgan Stanley and HSBC, sources told Reuters late last night. [...]
Trump bump: US manufacturing activity expands at fastest rate since 2014 January 24, 2017 The US manufacturing sector started the new year on a high as Donald Trump assumes the Presidency, according to a survey of business activity. Manufacturing activity in the world’s largest economy expanded at the fastest rate since September 2014, according to flash estimates from data provider IHS Markit. The manufacturing purchasing managers’ index (PMI) rose [...]
Turkish lira slumps further as surprise decision to keep interest rates on hold undermines credibility of central bank January 24, 2017 Turkey’s central bank shocked investors as it left its main interest rate unchanged in the face of a sliding currency. The decision raises concerns about political interference in monetary policy by the government ahead of UK Prime Minister Theresa May's visit to Turkey this weekend, following her first meeting with US President Donald Trump. The [...]
The three biggest post-Brexit risks to the UK digital economy January 24, 2017 The UK's digital industries are at risk after Brexit if access to markets, talent and the free flow of data across borders are not secured in government negotiations, a leading trade body has warned. The digital industries accounts for 16 per cent of domestic output, produces nearly a quarter of all exports and generates 10 per [...]