Network International plans to float on London Stock Exchange March 14, 2019 Payment processing firm Network International has announced it plans to launch an Initial Public Offering (IPO) on the London Stock Exchange. The Dubai- based company, which operates in 50 countries across the Middle East and Africa, has appointed Ron Kalifa, the former chief executive of Worldpay – which listed in London in 2015 – as chairman. [...]
Raising corporation tax may seem like a vote winner, but it makes all of us poorer March 14, 2019 Last year, parliament passed a law requiring the UK’s overseas territories (OTs) – including Bermuda, the Cayman Islands, and the Virgin Islands – to publish lists of the “beneficial owners” of the companies registered in them. The sponsors of the law claimed it was a crime-fighting measure. Conservative MP Andrew Mitchell justified the law by [...]
The UK’s elites have a habit of ignoring the will of the people March 14, 2019 On 20 April 1653, Oliver Cromwell marched into parliament saying, “you have sat here too long for any good you have been doing here lately” – words that surely chime with current events. Cromwell was utterly frustrated with an establishment which denied the will of the people. Obviously, no one is suggesting that the army should [...]
Withheld dividend disappoints Gem Diamond shareholders despite strong results March 13, 2019 Gem Diamonds disappointed shareholders today as the firm withheld dividend payments despite a jump in profits in a year when it sold history’s fifth largest gem-quality diamond. Shares in the diamond-miner closed down 6.9 per cent to 89.4p, despite a 141 per cent surge in profit before tax to $73m (£55m). Read more: Diamond sales [...]
Spring Statement: Hammond warns against no deal as UK slashes 2019 growth forecast March 13, 2019 The UK chancellor Philip Hammond slashed the 2019 growth forecast in his Spring Statement and said future spending and economic wellbeing are dependent on an orderly Brexit. Hammond announced that the Office for Budget Responsibility (OBR) had cut the country’s 2019 growth forecast to 1.2 per cent, down from the 1.6 per cent predicted in [...]
Spring Statement: Chancellor to consult on new ways of funding infrastructure projects March 13, 2019 The government is to launch a consultation on how the government pays for infrastructure projects such as Crossrail and HS2 in future, the chancellor said today. In a Spring Statement overshadowed by an impending vote by MPs on whether to accept a no-deal Brexit, Philip Hammond said he would consult business on how to fund [...]
The poker player teaching investors to learn to accept uncertainty as a fact of life March 13, 2019 | City Talk Annie Duke is an American professional poker player turned business consultant. Her 2018 book Thinking in Bets: Making Smarter Decisions when You Don’t Have All the Facts aims to help people feel better about uncertainty – something of a fact of life for investors – and so make better decisions. Duke starts her book by [...]
Bank for International Settlements warns central banks over risk posed by cryptocurrency exposure March 13, 2019 The Bank for International Settlements (BIS) has warned banks that cryptocurrencies could pose a risk to financial stability. The BIS Basel Committee, which sets regulatory standards for central banks, said the growth of crypto asset trading platforms and new financial products could increase the risks faced by lenders. Read more: Most UK consumers unable to [...]
Get Your Guide to achieve unicorn status thanks to $50m Temasek backing March 13, 2019 Online travel firm Get Your Guide is set to achieve coveted unicorn status thanks to a $300m (£228m) cash injection from a group of investors, Sky News reported. The Berlin-based travel company is said to be in advanced talks with Singaporean sovereign wealth fund Temasek Holdings over a $50m investment that will be announced in [...]
Business groups slam government plans to slash no-deal Brexit tariffs to zero March 13, 2019 Business groups criticised government proposals to slash tariffs to zero in a no-deal Brexit this morning, with the CBI warning it could prove to be “a sledgehammer for our economy”. The government said its measures should avert a £9bn hit to consumers and businesses if the UK crashes out of the EU without a deal [...]