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 [...]
Sam Gyimah suggests Labour rival Emma Dent Coad ‘part of cladding conversations’ that led to Grenfell Tower tragedy November 11, 2019 Former Conservative minister-turned Liberal Democrat candidate Sam Gyimah has suggested his Labour rival was partly responsible for decisions that led to the Grenfell Tower tragedy. Gyimah, who was prisons minister under Theresa May at the time of the 2017 fire that killed more than 70 people, told City A.M. it was a “deeply complex issue”, [...]
Wework in talks with T-Mobile boss over chief executive role November 11, 2019 Wework has started a search for a new chief executive following the departure of co-founder Adam Neumann, people familiar with the matter said on Monday, as the US office-sharing start-up seeks to reverse its widening losses. Wework’s current co-chief executives, Artie Minson and Sebastian Gunningham, have only been in place since September, but talks indicated [...]
Boeing shares soar as it forecasts January return for 737 Max November 11, 2019 Boeing shares took off this afternoon after the company said it expected US regulators to approve its grounded 737 Max model to return to service in January. The plane maker, which has been tussling with the global fallout from two deadly crashes of the jet which killed 346 people, said it was possible deliveries to [...]