Premier League sells TV rights for record £5.14bn to Sky and BT February 10, 2015 Premier League games are worth more money than ever before after the league agreed a new TV rights deal worth an incredible £5.136bn with Sky and BT. The average live Premier League football game will cost £10.2m to screen from the 2016-17 onwards, after Sky and BT shared the 168 games split across [...]
UK tech sector set to grow four times faster than GDP this year, and strong leadership is crucial February 10, 2015 Britain's technology sector is set to grow four times faster than GDP this year, according to a survey by Barclays. By asking owners and chief executives of technology firms across the country, the bank found that on average, businesses expected a growth of 11 per cent over the course of 2015. By comparison, [...]
Countrywide prepares for new acquisitions with £100m loans February 9, 2015 Estate agency Countrywide has increased its financing facilities from £150m to £250m, the FTSE-250-listed firm announced yesterday. Countrywide said the extra finance will be used for general corporate purposes, including funding potential acquisitions. The £250m revolving credit facility has been provided by its current banking syndicate, comprising Abbey National Treasury Services, AIB Group (UK), Barclays, [...]
HSBC scandal takes the spark out of the FTSE – London Report February 9, 2015 THE UK’s top share index edged lower yesterday, hurt by a fall in HSBC after the bank admitted tax failings at its Swiss unit and by softer utility stocks. The blue-chip FTSE 100 index was down 0.2 per cent, or 16.29 points, at 6,837.15 points by the close, with United Utilities, National Grid and Severn Trent [...]
London FinTech startup Kantox flies past $1bn forex transfers thanks to currency woes and economic uncertainty February 9, 2015 Businesses hit by currency volatility and worried by economic uncertainty are increasingly turning to alternative finance services, helping one London FinTech startup fly. Kantox, a peer-to-peer forex platform for business, has flown past $1bn (£657bn) in currency transfers since setting up shop in the capital in 2011 with an astonishing 20 per cent of that- [...]
Bank of England set to hint at an earlier rise in interest rates February 8, 2015 INTEREST rates could rise sooner than markets expect, economists predicted over the weekend, as the Bank of England prepares to update its growth forecasts on Thursday. Inflation could fall to zero in the coming months, pushing back expectations of an interest rate rise, and all nine members of the monetary policy committee last month voted [...]
UK tech groups expect over 10pc growth in 2015 February 8, 2015 BRITAIN’S tech businesses expect to grow four times faster than UK GDP growth (predicted to be 2.6 per cent) this year, with the average tech company predicting growth of 11 per cent in 2015. And next year could hold even brisker growth. Companies polled in Barclays’ Fast Growth Tech survey said they expected an additional [...]
Barclays to hire the over-50s as apprentices February 8, 2015 BARCLAYS has announced it is launching an apprenticeship scheme for the over-50s, giving older workers a chance at a new career in banking. The scheme, which will place middle-aged trainees on the bottom rung, will be advertised in summer, and piloted later in the year. The move comes after the government’s older workers champion, Dr [...]
Tullow Oil will show impact of tough market February 8, 2015 Irish oil firm Tullow is expected to report a large loss when it reveals its full-year results on Wednesday, after what analysts have described as a “tough year”. Last month, the company announced that it had written off $2.3bn (£1.5bn) worth of assets and exploration work, following a series of difficulties over the past 12 [...]
City Moves for 09 February 2015 | Who’s switching jobs February 8, 2015 Cohn & Wolfe The communications agency has appointed Helen Ridgway as chief executive of technology agency AxiCom, which it acquired seven years ago. Cohn & Wolfe, in turn, is part of WPP. Ridgway co-founded AxiCom 20 years ago. Her client base includes Tyco and Microsoft Devices Group. Insight Investment Shankar Athreya has been appointed head [...]