Queen and US commerce secretary Wilbur Ross among prominent figures featured in Paradise Papers November 5, 2017 A massive trove of leaked legal documents from an offshore law firm has exposed financial arrangements of well known public figures ranging from the Queen to a key member of Donald Trump’s cabinet. The documents, which were obtained by German newspaper Suddeutsche Zeitung and shared with the International Consortium of Investigative Journalists (ICIJ), reportedly contain [...]
Banks must green up their act, for the sake of both planet and profit November 3, 2017 If you watch a TV ad for a UK high street bank these days, they are full of soft focus, half-speed footage of smiling, tanned pensioners vigorously enjoying their retirement, or shots of attractive young families surrounded by nature – all portraying vague notions of stability and future prosperity. But a new report from the [...]
Pound sterling rises as UK manufacturing PMI increased more than expected in October, adding to expectations of an interest rate hike (GBPUSD) November 1, 2017 The UK’s manufacturing output increased more than expected in October, a closely-watched index has shown, adding further fuel to expectations of an interest rate hike tomorrow. IHS Markit’s purchasing managers’ index for the manufacturing industry rose to 56.3 in September, against expectations it would stay flat on last month’s 55.9. Any figure above 50 shows [...]
Kano, the innovative coding and computer kit startup, raises $28m from Marc Benioff, Stanford’s VC arm, Index Ventures, LocalGlobe and more November 1, 2017 An innovative tech company that creates computer kits for kids to help teach them how to code has raised fresh investment. Kano has landed $28m in a series B round from a string of well-known investors, including Salesforce entrepreneur Marc Benioff and the venture fund of Stanford University’s engineering department, one of the most prestigious [...]
The way businesses are adopting technology is totally spooking staff, Microsoft study finds October 31, 2017 Businesses could be facing a major challenge when it comes to adopting new technology: people. Workers are feeling fear of technology and are worried about its effect on their job, according to new research from Microsoft, and that could put British businesses digital transformations at risk. Introducing new technology in the workplace is making the [...]
Fintech startup CommuterClub raises £2.3m to grow online season ticket financing from WGC and early-stage investors including tennis star Andy Murray October 30, 2017 A startup which provides financing for commuters to buy rail travel cards has landed a fresh injection of cash, City A.M. can exclusively reveal. The £2.3m for CommuterClub was led by Indian financial services firm Wadhawan Global Capital (WGC), an investor in Zopa and Goldman Sachs-backed fintech startup Neyber, with previous investors also participating. Read [...]
Cyber attacks are on the rise – don’t let your business be a hacker’s paradise October 30, 2017 Headlines have been dominated by news of cyber attacks over recent months. But to date, no hack rivals the WannaCry virus, which temporarily crippled the NHS and other organisations around the world. Will Twiss, information security manager at business finance group LDF, warns that the threat posed by cyber criminals is constantly evolving, with new [...]
Housing crisis on Budget agenda as groups call for government borrowing to build in London and stamp duty abolition October 30, 2017 The government is being urged to consider major changes to its housing policy ahead of the Budget, ranging from abolishing stamp duty to allowing local authorities to build more homes. In its Budget submission to the Treasury the London Chamber of Commerce and Industry (LCCI) backed a call from chancellor Philip Hammond’s own colleagues to [...]
Beaufort Securities and WH Ireland move into top five most popular stockbrokers for Aim-listed firms as Finncap remains on top October 30, 2017 A good quarter of adding new customers has pushed Beaufort Securities and WH Ireland into the top five stockbrokers to Aim-listed companies by client numbers, according to data published this morning. Beaufort Securities has enjoyed a net gain of three new clients since July to reach 63 overall, making it the fourth most popular broker [...]
“Shocking ignorance” from MPs who don’t know where money actually comes from October 27, 2017 The majority of Britain’s politicians don’t know where money comes from, despite being tasked with deciding how much of it ends up being spent, according to a poll of MPs published today. Only 15 per cent of MPs surveyed answered correctly when asked a true/false question on whether banks create money when they make loans. [...]