EU referendum: former Polish foreign minister Radek Sikorski says benefit tourism is propaganda while mayor of London Boris Johnson pushes for UK opt-out from EU open borders December 14, 2015 Former Polish foreign minister Radek Sikorski hit out at the British government’s proposals to curb welfare benefits for European migrants today, telling an audience in London that so-called benefits tourism is “propaganda”. “This issue of benefits tourism has been set up in the public domain,” he said. “The figures don’t confirm it. “We had 300,000 [...]
Asian investors’ spending on UK tech M&A has jumped to almost £4.5bn this year December 14, 2015 The UK's tech companies have been flavour of the month, or even year, for Asian investors, with Asian-led M&A worth $6.78bn (£4.48bn) in 2015, up from $867m in 2014. The total invested through M&A since 2010 is $20.7bn. The amount invested through private placements has increased by an incredible 2,450 per cent, from $7m in 2013 [...]
Labour and Lib Dem peers could force a vote to defeat government on “reverse burden of proof” in Senior Managers Regime December 14, 2015 Labour and Lib Dem peers could force a vote tomorrow to reject the government’s plans to abandon the so-called reverse burden of proof in new financial regulation. The Treasury had originally proposed a “guilty until proven innocent” burden on executives scrutinised under the new Senior Managers & Certification regime, which is set to go into effect [...]
Number 10 refuses to deny reports that is considering nationalising Rolls-Royce December 14, 2015 Downing Street fuelled speculation that the government is considering taking part of Rolls-Royce back into public ownership today when the Prime Minister’s official spokeswoman refused to deny reports about a possible nationalisation. When asked about a report in the Financial Times that ministers were considering nationalising the nuclear submarine business of the manufacturing giant, the [...]
US growth slowdown may delay second Federal Reserve interest rate hike December 14, 2015 The US economy is contracting this month, according to a survey of businesses, and is likely to prevent the Federal Reserve from raising interest rates quickly next year. The sales managers’ index published today by World Economics dropped to a score of 48.9 for December from 52.4 in November. Any score below 50 indicates a contraction [...]
UK small businesses aren’t prepared for foreign exchange volatility if the Federal Reserve raises rates in December December 14, 2015 UK SMEs are unprepared to deal with currency volatility if the Federal Reserve raises rates in December. While 88 per cent of small business owners said they understood the potential impacts of a US rate rise on currency markets, 70 per cent felt their business needed to be better prepared to deal with exchange rate [...]
Bitcoin just became the national currency of Atlantis (really) December 14, 2015 No seriously, bear with us here… Bitcoin just became the national currency of the tiny island Pontinha, a self-proclaimed country off the coast of Portugal. The micronation, which is in the process of being renamed Atlantis after the mythical lost civilisation, has officially adopted bitcoin as its currency – making it “the first country in [...]
Fintech 100: UK dominates KPMG’s global list of top fintech firms of 2015 with Transferwise, Funding Circle and Atom Bank December 14, 2015 As if you needed more proof that the UK fintech scene is booming… The UK is dominating a list of top fintech firms, with more emerging firms than any other country in the world, according to KPMG’s “Fintech 100”. The list of the leading fintech firms of 2015 is made up of 50 established firms [...]
HMRC officially launches digital Personal Tax Accounts online, with more than a million users to have access by mid-December 2015 December 14, 2015 The taxman is coming to a computer screen near you, after HM Revenue & Customs (HMRC) officially launched its online Personal Tax Accounts (PTA) today. The digital PTAs aim to provide people with a clearer and more real-time picture of their tax situation. More than a million self-assessment taxpayers will have access to their account by [...]
Five of the most ridiculous Star Wars Force Awakens merchandising and products : From Lightsaber chopsticks to Darth Vader showerheads December 14, 2015 As the world awaits Star Wars Episode VII The Force Awakens to hit cinemas, there's one thing that might just be even bigger than the biggest flm of the year – the merchandise. The Disney machine is already churning out everything from bed covers to waffle makers and products associated with the biggest film of the [...]