There’s a new £260m fund eyeing UK tech startups November 7, 2016 UK-based venture capital fund Scottish Equity Partners has raised £260m for a new fund to invest in high growth tech companies in the UK and Europe. Previous investments include fashion site Matches.com, unicorn startup Skyscanner and language app Babbel. Read more: IG Group boss joins fintech startup board The latest fund, SEP V, is eyeing growth [...]
Supply chain risk up due to post-Brexit uncertainty November 7, 2016 Global supply chain risk grew for the fourth quarter in a row to its highest level since 2013 as a result of the Brexit vote, and increased trade restrictions around the world. Analysis by the Chartered Institute of Procurement and Supply (CIPS) and Dun & Bradstreet economists showed a "disintegration of the political consensus over globalisation" with [...]
The pound is back below $1.24 after Hillary Clinton was cleared – but the FTSE 100 is rallying November 7, 2016 It looks like any euphoria felt by currency traders about Friday's High Court ruling over Brexit was short-lived: The pound was down more than one per cent against the dollar in early trading this morning, dropping below $1.24. The pound fell 1.01 per cent to $1.2391 as traders' faith in Hillary Clinton was restored after [...]
OneSavings’ boss wants to know. Until then he’ll “carry on ploughing” November 7, 2016 Clarity. It's a real buzz word at the moment, especially when referring to exactly how Prime Minister Theresa May plans to extract Britain from the EU. Andy Golding, the 25-year banking veteran in charge of challenger OneSavings Bank, is one of many business leaders calling for clarity. “I think that in any situation of change [...]
Real wages are on the wane and it’s only going to get worse, say accountants November 7, 2016 Sterling’s post-Brexit vote collapse is hitting Britons where it hurts the most. In the pocket. Inflation is outstripping wage growth as businesses are forced to pass on increased costs associated with sterling’s slump to consumers, according to a report prepared by accountants BDO. “Rapidly rising inflation is quickly going to hit the pockets of UK [...]
The Brexit vote has revealed Jeremy Corbyn’s irrelevance November 7, 2016 The weekend brought a deluge of reaction to Thursday’s High Court ruling on Article 50. Everyone from renowned legal experts to armchair constitutionalists weighed in on what the ruling meant for Theresa May and whether the judges had made the right call. Under normal circumstances, the voice of the Leader of the Opposition would be prominent [...]
Britain needs a transitional deal to avoid a cliff-edge of Brexit uncertainty November 7, 2016 Just under two weeks ago, Theresa May announced the go-ahead for a third runway at Heathrow, following years of analysis and debate. The decision was a complex one and certainly one of the PM’s toughest since taking up office in July. This, though, is dwarfed by another issue which had dominated the news agenda even [...]
Britain must raise its game on innovation to make a success of Brexit November 7, 2016 The UK economy has so far proved hardy in the face of the vote to leave the EU. While GDP growth has slowed, it’s been higher than many had expected – consumers continue to spend on the high street and exporters have been taking advantage of a weaker sterling. But uncertain times are still ahead [...]
Premier Oil battling to hit deal deadline November 6, 2016 Struggling oil explorer Premier is battling to hit its deadline of the end of the year to secure a full-scale financial restructuring package. Premier is wrestling with the daunting task of finalising the £2bn deal with a team of 40 banks and advisers that has been pushed back from a previous deadline of September. Premier [...]
Crawford considers a London listing after ConvaTec success November 6, 2016 Dermatology and wound-care specialist Crawford is considering a market float after the recent success of rival ConvaTec. Crawford is looking “more closely” at an IPO, according to a report in the Sunday Telegraph, following ConvaTec’s listing last week. Shares in the company have climbed by some 10 per cent after coming to market on 26 [...]