Draper Esprit’s tech bets pay off as portfolio value leaps 40 per cent to £984m June 14, 2021 UK venture capital firm Draper Esprit has increased its annual gross portfolio value by 40 per cent to £984m, the company said this morning. Delivering its annual results for the year ended 31 March, Draper Esprit posted a pre-tax profit of £267m, compared to £40m a year earlier. The group invested £128m into a total [...]
Serco shares soar after raising profit outlook on demand for Covid services June 14, 2021 Outsourcing giant Serco today raised its 2021 profit outlook by £15m to around £200m, sending the company’s share price up by 4.5 per cent. Serco, which has outperformed the wider UK outsourcing space, said that it expects stronger demand for its Covid-19 services this year. The firm is set to benefit from its focus on [...]
Royal Mint conducts Trial of the Pyx ceremony in the City of London June 14, 2021 The Royal Mint’s coins have been submitted for testing at Goldsmiths’ Hall in the City of London in the annual Trial of the Pyx ceremony. The trial, the UK’s oldest judicial ceremony, aims to uphold the quality of the nation’s coinage and protect consumers. A sample of new coins struck by The Royal Mint were [...]
Boris Johnson offers Tokyo 2020 support after meeting with Japanese PM Suga June 11, 2021 Boris Johnson today gave the Tokyo Olympics a show of support at a meeting with Japan’s Prime Minister Yoshihide Suga and backed efforts to ensure the Games go ahead safely. The Tokyo 2020 Games, which were postponed last year due to Covid-19, is scheduled to start on 23 July. “The prime minister expressed his support [...]
Wall Street edges higher as inflation fears fade while FTSE jumps June 11, 2021 Wall Street’s main indexes opened higher today after inflation data calmed concerns over a long-term spike in consumer prices. The Dow Jones Industrial Average was up 0.2 per cent, while the S&P 500 advanced 0.15 per cent at the open. Meanwhile, the tech-heavy Nasdaq edged up 0.1 per cent after a week in which tech [...]
As it happens: G7 leaders arrive in Cornwall ahead of summit June 11, 2021 World leaders from G7 countries are arriving in Britain ahead of the crucial summit to be held from today. The meeting between the world’s seven largest so-called advanced economies will run until Sunday, covering a range of issues including Covid recovery, climate change and trade. Several G7 leaders have already taken to Twitter upon arrival [...]
Isle of Man opens licence applications for new cannabis export sector June 11, 2021 The Isle of Man Government has opened licence applications for the production, distribution and export of medicinal cannabis products from the island. It marks a major step in the IOM’s bid to be a world-leading exporter of medicinal cannabis, which will provide economic investment and development for the island. “I am delighted to welcome licence [...]
UK economy grew by 2.3 per cent in April as high street and hospitality reopened June 11, 2021 Britain’s economy grew by 2.3 per cent in April as government restrictions affecting economic activity continued to ease. It was the fastest monthly growth of gross domestic product (GDP) since July last year and exceeded economists’ forecast of a 2.2 per cent jump. In comparison with April 2020, monthly GDP in April 2021 is estimated [...]
US inflation rate climbs at fastest pace since 2008 June 10, 2021 US inflation has soared to the fastest annual rate since the financial crisis, fuelling concerns of early policy tightening by the Fed. The Labor Department said its consumer price index (CPI) rose 0.6 per cent last month after surging 0.8 per cent in April. In the 12 months to May, CPI accelerated five per cent, [...]
Wall Street opens higher while FTSE 100 stays in the green June 10, 2021 Wall Street’s main indexes rose today as investors shrugged off a surge in consumer prices that raised concerns of early policy tightening by the Fed. The Dow Jones Industrial Average was up 0.6 per cent, while the S&P 500 advanced 0.4 per cent at the open. Meanwhile, the tech-heavy Nasdaq gained 0.2 per cent. Wall [...]