VCs delay funding for London’s tech startups after the latest Brexit delay May 2, 2019 The latest Brexit extension has struck hesitancy into the heart of London’s venture capitalist scene as funders delay investments in the UK tech sector. Read more: Tech sector activity gets a boost despite falling optimism Almost a quarter of the capital’s technology startups have suffered a drop in VC funding since the end of 2018 [...]
AI-powered fintech chatbot Plum closes $4.5m funding round May 2, 2019 Money management chatbot Plum has raised a fresh $4.5m (£3.45m) in funding to bring it to a total raise of $6.3m, it confirmed today. Read more: Former HSBC trader's fintech startup raises £3.8m from the crowd VC outfit Venture Friends, along with the European Bank for Reconstruction and Development (EBRD), led the funding round for [...]
Metro Bank shares suffer meltdown after profits halved and customers leave in aftermath of £900m loans error May 2, 2019 Metro Bank shares staggered to a record low this morning after it revealed profits halved in the aftermath of its £900m loans error. Read more: Metro Bank profits halve in aftermath of £900m loans blunder The challenger bank’s share price lost 19 per cent of its value after the market opened following last night’s revelation, [...]
‘Fierce’ manufacturing downturn will act as major drag on Eurozone economy May 2, 2019 The Eurozone suffered its third straight month of contraction in its manufacturing sector in April, data revealed today. Germany continued to lead the downturn as the bloc’s manufacturing industry barely recovered from a six-year low in March, according to a closely-followed measure of activity. Read more: Construction industry bounces back in April amid housebuilding rush [...]
Nurofen maker Reckitt Benckiser sticks to targets despite ‘slow start’ to 2019 May 2, 2019 Reckitt Benckiser experienced a “slow start” to the year as like-for-like sales grew just one per cent annually, its chief executive admitted today. Read more: Consumer goods giant Reckitt Benckiser delivers strong sales growth Home hygiene products grew three per cent year on year for the first three months of 2019 to outperform flat like-for-like [...]
Prepare for take off: Heathrow airport expansion cleared by High Court May 1, 2019 The government today won a legal battle that had sought to stop its proposed £14bn expansion of Heathrow Airport. Read more: Revenue dips at Heathrow despite record passenger numbers Campaigners trying to block a third runway at the UK's biggest airport lost the High Court challenge after the court found that transport secretary Chris Grayling's airport national policy [...]
Extinction Rebellion climate change protesters want to destroy the UK’s financial sector May 1, 2019 The founder of Extinction Rebellion has ambitions to upend the UK’s financial system after her organisation targeted the City in two weeks of London protests. Gail Bradbrook wants to provoke a “mass refusal” to pay off loans and mortgages in a bid to throw London’s financial district into disarray following action that saw climate change [...]
High street giant Next credits warm Easter weather as sales blast past expectations May 1, 2019 High street bellwether Next welcomed robust sales growth in its latest quarter as revenue beat its own estimates. Read more: Next says 'no evidence' Brexit has hurt sales as profits dip The retailer credited “unusually warm weather” over Easter for the 4.5 per cent year-on-year rise to sales of around £10m. While high street stores [...]
UK house prices suffer fifth month of ‘subdued’ growth amid Brexit uncertainty May 1, 2019 UK house price growth remained flattened in April, as the annual price growth rate rose less than one per cent, the latest data showed today. Read more: London house prices plunge in blow to UK housing market UK house price growth remained quiet in April, as the annual price growth rate rose less than one [...]
Premier Inn owner Whitbread warns ‘acute’ political uncertainty will hurt growth after Costa coffee sale April 30, 2019 Whitbread today revealed profits have plummeted 40 per cent since the £3.9bn sale of its Costa coffee chain to Coca-Cola last year. Read more: Caffeine kick: Whitbread announces £2bn share buyback The figures Profit before tax at the Premier Inn owner slumped 39.1 per cent year on year to just £260m in its 2019 financial [...]
