Software firm in £18m Aim float March 16, 2015 SOFTWARE developer TechFinancials begins trading on the Aim sector of the London Stock Exchange today. The group raised £3.05m through a placing ahead of the float, which gives it a market capitalisation of around £18.4m. TechFinancials said it was going public in order to gain flexibility in its corporate and financial structure, so as to [...]
Investors put off by volatility after tech floats March 16, 2015 THE IPO highs and lows of Silicon Valley giants like Twitter and Facebook have left UK tech firms struggling to secure funding, according to accountancy firm BDO. Research conducted by the company shows that 33 per cent of bosses at small and medium-sized technology and media companies said the hype and subsequent share price volatility of [...]
Lending rules push owners to equity release March 16, 2015 STRICTER mortgage rules could be creating difficulties for homeowners looking to remortgage later in life, leading to a boom in equity release. Equity release usually involves either a lifetime mortgage – a mortgage that does not need to be repaid until the borrower dies – or selling a share in your home in a deal [...]
Slowdown at top and bottom of market hits London house prices March 16, 2015 London property prices fell from February to March, figures released today show. New seller asking prices dropped by 0.4 per cent according to online property market Rightmove. It is the first time in three years that prices have retreated in March. High-end property values saw their asking prices trimmed by 2.6 per cent. Demand [...]
Soaring talent demand pushes up City salaries March 16, 2015 Competition for professional staff is pushing up London salaries. The number of professional job vacancies climbed 21 per cent year-on-year in February, according to figures released today by recruiters Morgan Mckinley. Surging demand for new employees is resulting in higher pay packages. Workers securing new positions were lured away by a 21 per cent pay [...]
Confidence of British firms beats global average but risks remain March 16, 2015 UK BUSINESSES are among the most optimistic in the world, new survey data shows. The percentage of firms who think activity will improve over the next 12 months minus the percentage of firms of who think it will deteriorate came to a net balance of 53 per cent, according to figures released today by financial [...]
Aim liquidity highest since credit crunch March 16, 2015 LONDON’S market for shares in small cap companies – the Alternative Investment Market (Aim) – is seeing levels of trading not witnessed since before the 2008 financial crisis. The value of shares traded on Aim averaged at £156,000 per company per day, data released today by accountants UHY Hacker Young shows. It marks a 50 [...]
Boutique tech bank Restoration Partners backed by ex King.com chair Mel Morris March 16, 2015 Boutique merchant bank Restoration Partners announced that technology entrepreneur Mel Morris has made “a significant investment” in the firm and joined its advisory board. The company, which works alongside visionary entrepreneurs in the technology sector, refused to reveal how much Morris had invested, but said it was looking forward to working with him. “In the [...]
Gym founders want to see Brits jumping for joy at new parks March 16, 2015 TWO OF the most experienced innovators in the UK physical activity sector have announced plans to launch the country’s first national chain of trampoline parks. Fred Turok, founder of LA Fitness gym clubs, and David Stalker, CEO of not-for-profit organisation UKactive, formed the company Altitude in a bid to get the nation more active. Altitude [...]
BP signs $12bn investment deal to develop gas projects in Egypt March 16, 2015 OIL FIRM BP has agreed a $12bn (£8.14bn) investment deal with the Egyptian Ministry of Petroleum. The cash injection is to be used to aid production of up to three billion barrels of oil equivalent from BP’s West Nile Delta, East Nile Delta and Gulf of Suez operations in Egypt. BP said the West Nile [...]
