Landsec swings to first-half loss after retail property values plunge November 12, 2019 Landsec swung to a pre-tax loss in the first half of the year after the value of its retail and leisure assets suffered in an increasingly challenging market for tenants. The figures The company reported a pre-tax loss of £147m, compared to a profit of £42m the previous year, resulting in a loss per share [...]
Killer robots? It’s only a matter of time November 12, 2019 Artificial intelligence (AI) is everywhere in the news at the moment, but there is little discussion of an area where huge sums are being spent by all the major powers: automated intelligent weapons — or killer robots, as they are usually called. Some strategists now envision military operations conducted entirely by automata. Such fully automated [...]
The vote-winning power of tax cuts November 12, 2019 As theGeneral Election clunks into gear, it’s already clear what Labour’s approach will be: promise to spend literally all the money. The Tories put out a dossier at the weekend costing the opposition’s pledges at a jaw-dropping £1.2 trillion. You can quibble with the detail, but it’s pretty clear that under John McDonnell’s guidance, the [...]
DEBATE: Are this week’s UK growth figures anything to celebrate? November 12, 2019 Are this week’s UK growth figures anything to celebrate? Ruth Lea, economic adviser at the Arbuthnot Banking Group, says YES. The GDP data for the third quarter of 2019 was a tad weaker than expected, and much has been made of the growth rate being the weakest since the start of 2010. But the data [...]
Interest rates aren’t central banks’ only ammunition to defend against recession November 12, 2019 Monday’s GDP figures were a mixed bag: the UK has narrowly avoided slipping into recession, but with growth at its lowest rate since 2010, the country is far from being out of the woods. Nor is this just a British issue. Increasing numbers of economic commentators are sounding the alarm about a potential recession in [...]
London falls out of top 10 best UK cities for living and working November 12, 2019 London is lagging behind other UK cities as a place to live and work, according to a new report, due largely to its very high cost of living. Read more: London house prices drop 1.4 per cent with market ‘in limbo’ Oxford was deemed the best place to live and work in the UK for [...]
London startup Zego gains first ever licence for UK insurtech November 12, 2019 An insurance startup aimed at the gig economy today said it is the first insurtech firm in the UK to secure an insurance licence. Zego, which offers flexible insurance to freelance workers such as drivers for Uber or riders for Deliveroo, said it was awarded the licence by the Gibraltarian regulator. Chief executive Sten Saar [...]
UK advertisers block ‘Trump’ from campaigns amid fears over brand reputation November 12, 2019 The vast majority of UK advertisers have blocked their campaigns from appearing next to references to Donald Trump amid fears the US President could damage their brand. On average, 87 per cent of campaigns using keyword blocking between March and September excluded the word ‘Trump’, according to new data from Integral Ad Science. Read more: [...]
Revolut investor Balderton Capital unveils $400m seventh fund November 12, 2019 One of London’s biggest venture capital players has today debuted its seventh early-stage fund for European startups at $400m (£311.1m), after a mooted lack of investor interest as the UK prepared for Brexit failed to materialise. Balderton Capital, an early backer in the likes of Revolut, Citymapper and Lovefilm, said the new fund will continue [...]
Retail group urges new government to reform industry November 12, 2019 A leading retail organisation has ramped up pressure on the next government to reform business rates and the apprenticeship levy to rescue the embattled UK high street. The British Retail Consortium (BRC) said the new government following the 12 December General Election should scrap “downwards transition”, which it said means retailers pay £1.3bn over five [...]