From crowdfunding to IPO in 16 months: Edinburgh tech company claims UK first with Aim flotation November 16, 2016 The London Stock Exchange’s junior market today welcomed its first company with roots in equity crowdfunding. Edinburgh-based tech company Freeagent Holdings began trading on the Alternative Investment Market (Aim) this morning, with the float raising £10.7m and valuing the company at £34.1m. Freeagent, a cloud-based software-as-a-service accounting software company, is believed to be the first [...]
Croydon crash tram was going 43.5mph in an area with a 12.5mph speed limit November 16, 2016 An initial investigation into the Croydon tram crash on 9 November has revealed the tram was being driven over three times the permitted speed when it crashed. The Rail Accident Investigation Branch's (RAIB) initial report has confirmed initial indications that "the tram was travelling at significantly higher speed than is permitted". On the section involved, [...]
As cunning as a ZoneFox at the Scottish Cyber Awards November 16, 2016 | City Talk Cybercrime: 'together let’s crush it'. And wherever it happens in the UK for that matter. Scotland’s ZoneFox is one of many innovative cyber security organisations shortlisted for tonight's Scottish Cyber Awards. Other shining lights amongst the nominees include Edinburgh Napier University, Skyscanner, 7 Elements, Payfont, Seric Systems and My1Login. The finalists span business, academia and [...]
These are the top 10 most transparent FTSE 100 firms – showing it pays (£24bn) to be open November 16, 2016 Sometimes, reading through the London Stock Exchange’s RNS feed, it feels as though certain companies just don’t want to be understood. Others, clearly, do: a new study has named the top 10 FTSE 100 companies for transparency. Arm, the Cambridge-based chip designer that was acquired by Japan’s SoftBank for £24bn this summer, was named as [...]
Morrisons’ bounce back shapes up with same-day delivery Amazon tie-up (but it’s bad news for Ocado’s share price) November 16, 2016 The dream team is very much in business. Yes, that's right: Amazon and Morrisons have developed their tie-up to launch the aptly named Morrisons at Amazon service. But it's bad news for Ocado: shares were down 9.4 per cent by the early afternoon. Ouch. From today, Amazon Prime customers in selected areas can order a full [...]
Liberty House founder Sanjeev Gupta completes purchase of Tungsten Bank to create new “industry friendly” Wyelands Bank November 16, 2016 The British industrialist at the helm of commodities group Liberty House has bought Tungsten's banking arm to create an "industry friendly" bank for smaller UK engineering and manufacturing companies. Sanjeev Gupta, who founded the metals company when he was a student at Cambridge, has bought Tungsten Bank through his private estate Wyelands Holdings. The deposit-taking [...]
This is how much beer pubs have to sell to combat nexy year’s rise in business rates November 16, 2016 The country will have to drink heavily from 2017 onwards if pubs are to avoid a massive hit when business rates increase next April. Business rates have been re-evaluated for the first time in seven years, and the new rate of tax will come in at the beginning of April next year. Analysis from business rates specialists [...]
Rolls-Royce shares dip despite success in cost-cutting turnaround plan November 16, 2016 Rolls-Royce's share price dropped today despite the group saying its huge cost-cutting drive is likely to be at the top end of its targeted range. The manufacturing giant is one year in to a turnaround programme to reset its finances after posting five consecutive profit warnings in the 20 months leading to November 2015. In [...]
Arise Lord Farage? Theresa May just refused to rule out a peerage for Nigel November 16, 2016 Theresa May refused to rule out a gong for interim Ukip leader Nigel Farage in Westminster today. Quizzed on the possibility of Farage entering the House of Lords by Scottish National Party MP George Kerevan at Prime Minister's Questions, May said only that “such matters are never discussed in public”. While an appointment may seem unlikely, May's [...]
Cinema workers to strike over London Living Wage at release of Fantastic Beasts and Where to Find Them November 16, 2016 London cinema workers are planning strike action around the release of Harry Potter spin-off Fantastic Beasts and Where to Find Them in an ongoing campaign to receive the London Living Wage. Workers at the Ritzy in Brixton and the Hackney Picturehouse are planning strikes between Thursday this week and Monday next week to align with the release of the the [...]