Panama papers law firm founders begin damage limitation April 5, 2016 The founders of the law firm at the centre of the Panama papers tax evasion scandal have begun damage limitation, calling the investigation a "media witch hunt". In an interview with the Financial Times, Mossack Fonseca founder Ramon Fonseca said the disclosure was undermining legitimacy of offshore companies. Fonseca blamed hackers, and adding that in the [...]
Services sector struggles for momentum, as purchasing managers’ index points to GDP slowdown April 5, 2016 The fragility of Britain’s reliance on its mammoth services industry was laid bare this morning by the latest Markit/CIPS purchasing managers’ index (PMI), which showed growth in the sector will not be enough to translate into confidence about the wider economy. Services scored 53.7 on the bellwether index, where scores above 50 indicate expansion, rebounding from a [...]
The voting is open for Voom 2016, the startup pitching competition run by Richard Branson April 5, 2016 The voting is open for Britain's biggest entrepreneurial battle. Some 300 pitches have already been made, with a further 900 in process for Voom 2016, the annual startup competition run by Virgin Media Business and hosted by his royal highness Sir Richard Branson. The initiative lets British entrepreneurs sell their ideas to execs at Virgin, including Branson [...]
Card fees for paying for London taxis removed for all passengers April 5, 2016 Those using cards to pay for their London taxis will no longer have to pay a surcharge, in a move that will help keep the industry competitive against the likes of Uber. The move means passengers should never pay more than the amount shown on the meter due to the method of payment that is used. [...]
Brent crude and WTI: Oil prices continue to fall as oversupply concerns grow April 5, 2016 Oil prices fell for the second day in a row this week, as weaker demand for petrol fed into concerns that the world's oil producers will be unable to agree a freeze deal. Stronger appetite for petrol in both North America and Asia has helped put a floor under Brent crude prices which have tumbled around 70 [...]
These are the hottest 50 fintech companies right now (and half are from London) April 5, 2016 London continues to dominate the world of financial technology with more than half of the hottest fintech startups located in London. Of the 50 startups to make the Fintech50, a comprehensive annual list of the best new businesses disrupting finance and chosen by leading venture capitalists and top tech execs, 29 were spawned in London. The newly [...]
Surprise, surprise: New survey reveals people in Europe want to work in Britain April 5, 2016 Britain is the top destination for European job hunters hoping to launch a career abroad, an analysis of searches by recruitment firm, Indeed, has revealed, while those already here are the least likely in Europe to want to work in another EU country. The research – out today – which looked at millions of jobs [...]
Panama Papers: Jeremy Corbyn says it’s “time to get tough on tax havens” as he attacks government’s record on steel April 5, 2016 In the wake of the Panama papers leak Britain has a huge responsibility and it is time to get tough on tax havens, Jeremy Corbyn has said. As the Labour leader launches his party's English local election campaign, he will say that many of the tax havens are British overseas territories or crown dependencies which need to be clamped [...]
Hit the brakes: Petrol prices rose in March (but won’t hit 2012 levels again anytime soon) April 5, 2016 Wallet feeling a little lighter after the great Easter getaway? That'll be because petrol and diesel prices rose in March for the first time since July last year. Bad news for drivers, slightly better news for oil investors. Figures from RAC Fuel Watch showed petrol suffered a "sudden and unwelcome" 3p-a-litre rise in March – [...]