City Moves for 9 August 2016 | Who’s switching jobs August 9, 2016 Metamako Metamako, a specialist in deterministic network devices for the world’s financial institutions, has appointed Kevin Covington as CEO. With a long career in the fintech industry, Kevin has many years’ experience of growing and developing financial technology companies. He was one of the creators of the concept of co-location. In his previous position as [...]
Society of Independent Brewers moves to take back craft beer from big drinks companies August 9, 2016 The Society of Independent Brewers (SIBA) has today launched a new initiative to push big brewers out of the craft beer scene. SIBA will offer its new “Assured” stamp of approval to breweries “truly independent of any larger controlling brewing interest” who also pledge to its manual of good brewing practice. There is no strict [...]
Inzura becomes the lastest company on the insurtech scene August 9, 2016 Inzura – a new digital insurance platform – is set to begin using smartphone data and photo recognition to calculate policies. It’s thought insurance companies will be able to take on less risk by fine-tuning policies. "We believe the smartphone will play a central role in the much-needed digitisation of insurance," said Richard Jelbert, chief executive of [...]
Southern discomfort: Train operator only delivered 70 per cent of services on time August 9, 2016 The train operator at the centre of what is set to be the longest strike on the railways since the 1960s has seen the punctuality of its services plunge to just 70 per cent, new figures show. During July, Southern's operator Govia Thameslink only delivered 70 per cent of services on time across its franchises according [...]
Hinkley Point: China ambassador warns over “crucial historical juncture” in UK relations August 8, 2016 China’s ambassador to the UK has issued a warning over relations between the countries as the British government considers whether to approve the Hinkley Point project. Liu Xiaoming said the delay in approving the scheme has brought the nations to a “crucial historical juncture”. Read more: Is May set to abandon Osborne’s China dream? Liu [...]
Rupert Murdoch’s News Corp makes “aggressive” assault on digital growth as print problems mount August 8, 2016 Rupert Mudoch's News Corporation is making an "aggressive" assault on digital growth as its print advertising troubles mount. The publisher of the Sun, Times, Sunday Times and Wall Street Journal newspapers reported a five per cent growth in revenue in the last quarter on Monday. The figures In the three months to 30 June, the company’s turnover [...]
Botox maker Allergan’s results come in below expectations August 8, 2016 Pharmaceutical giant Allergan’s share price tumbled more than two per cent in the US on Monday as its results came in below expectations. The figures Ireland-based Allergan reported total net revenues of $3.7bn (£2.8bn) in the second quarter of this year – up two per cent from the previous three months. But Wall Street had expected [...]
Smallest businesses face £22m of fines over auto-enrolment pensions confusion August 8, 2016 UK micro-businesses are collectively facing fines of up to £22m due to a lack of understanding around auto-enrolment pensions, a new report has warned. The Pensions Regulator estimates that around 262,000 micro-businesses, defined as firms employing between one and four people, are set to “stage” – or be required to set up a workplace pension [...]
Government won’t shale out on fracking payments for a while August 8, 2016 Government won't have to fork out cash to those living near a shale gas exploration site for some time to come, a consultation document into the matter has revealed. The Shale Wealth Fund consultation, which was launched today by the Treasury, revealed, because the Fund would be financed using tax revenues from sites developed for gas production, [...]
Panic at the disco? Nightclubs are struggling to compete with bars and pubs August 8, 2016 The party could be winding down in the UK's nightclub scene, as revenues in the top 100 nightclubs have fallen nine per cent in the last year. A lack of access to funding and increased competition has left clubs struggling to compete with late-night bars and pubs, according to commercial lender Ortus Secured Finance. Turnover [...]