Panama Papers: Database of names connected to offshore accounts revealed in leaked information from Mossack Fonseca goes live May 9, 2016 A database containing over 300,000 names connected with offshore accounts has gone live on the internet this evening. The International Consortium of Investigative Journalists (ICIJ), which initially reported on the Panama Papers in April, has launched a searchable database, accessible here. Users can search for specific names, or see lists of the companies and individuals [...]
George Osborne says Brexit would endanger “tens of thousands” of financial services jobs May 9, 2016 George Osborne has warned “tens of thousands” of financial services jobs would be put at risk if the UK votes for a Brexit. Treasury analysis claims 285,000 jobs in the sector are linked to European Union financial services exports. And the chancellor said this evening that leaving the single market “would be catastrophic for jobs and [...]
What will happen if there is a Brexit? Who knows, economists say May 9, 2016 Determining what would happen in the case of a vote for a Brexit on 23 June is incredibly difficult as there are flaws in the information such predictions are based on, a group of economists has said this evening. Speaking at an event hosted by the Institute of Directors (IoD) and the London School of Economics' Alumni Organisation, Dr [...]
A Decentralised Autonomous Organisation – “DAO” – has already raised a staggering $33m. What does that mean? May 9, 2016 The first Decentralised Autonomous Organisation (DAO) fund has now raised over $33m, making it the second-largest crowdfunding project of all time. DAOs enable people to buy tokens in Ether, the cryptocurrency of Ethereum. Token-holders (who are a bit like shareholders) are then able to invest in smart-contract projects that run on the Ethereum blockchain – operating [...]
Spending held back by low consumer confidence in April May 9, 2016 Consumer spending rose by 1.9 per cent year-on-year in April, up from March’s 1.6 per cent rise, according to the latest data from Barclaycard. April was the second consecutive month of poor performance, with growth down from four per cent in December. The gloomy numbers have been put down to economic headwinds including slowing wage growth, [...]
Then and now: These ghostly images contrasts London’s darkest days during the Blitz with how the capital looks now May 9, 2016 Wednesday marks the 75th anniversary of the end of the Blitz in London. The Blitz, shortened from the German term "blitzkrieg" (lightning war), struck the capital over a sustained period between September 1940 and May 1941. During the nine month German bombing campaign more than half of the 40,000 civilians who lost their lives in [...]
Facebook wins copyright case against Chinese drinks company Zhongshan Pearl River Drinks May 9, 2016 If you'd been looking forward to sampling a refreshing "face book" beverage on your next visit to Beijing, you're about to be sorely disappointed. The US social networking behemoth Facebook has won a rare copyright victory in China, after the Beijing Municipal High People's Court ruled that Zhongshan Pearl River Drinks could no longer use [...]
James Dyson donates £8m to University of Cambridge to fund new engineering facilities complete with a house that can almost think for itself May 9, 2016 British entrepreneur James Dyson has today opened a range of new engineering facilities at the University of Cambridge, including a slightly scary-sounding new smart building that’s more like a “living creature”, according to Dyson’s statement. The new facilities were funded with an £8m donation from Dyson's eponymous foundation. The cash injection is the largest gift [...]
Japanese and European investment banks agree merger to create global M&A advisory May 9, 2016 A Japanese investment bank has agreed a merger with a European peer to create one of the world's largest listed M&A advisories. The combination of Japan's GCA Savvian and Altium creates a new international investment bank operating across ten countries, in cities such as London, Manchester, Tokyo, San Francisco, New York, Mumbai, Frankfurt and Tel Aviv. Read more: These two [...]
Steel Crisis: Seven bids advance to the next stage of sale process for Tata Steel UK assets May 9, 2016 Tata Steel Europe has announced seven bids for its UK business have been advanced to the next stage of the sale process. The European arm of the Indian steelmaking giant said today that seven expressions of interest for the company's entire UK assets had been taken forward, and Tata Steel Europe will still seek to sell the [...]