TaxPayers’ Alliance research puts full national debt at £8.6 trillion June 18, 2015 The UK’S national debt would stand at £8.6 trillion if it were to include all of the government’s liabilities, according to new research from the TaxPayers’ Alliance (TPA). The group has today issued a report calling on the government to report the “real” national debt by changing the way it measures the figure. Read more: [...]
Five FinTech startups to watch: RBS, Lloyds and American Express back finance innovation June 17, 2015 Five tech startups seeking to disrupt the financial industry have caught the eye of some of the world's leading firms in the sector. A savings app, a company using visual cryptography to create secure passwords and a real-time sales platform for local businesses are just three of the winners in the search for startups creating [...]
City Moves for 17 June 2015 | Who’s switching jobs June 16, 2015 CRUX Asset Management The fund manager has appointed Karen Zachary as chief operating officer. She has 20 years’ experience in asset management, and has held positions at Henderson Global Investors, Man Group, Fidelity International and New Star Asset Management. EY Chris Gould has been appointed partner and head of the professional services firm’s cybercrime team [...]
Canadian fund Omers make $1.7bn swoop on UK consultancy Environmental Resources Management June 15, 2015 Charterhouse yesterday sold its stake in the world’s biggest environmental consultancy to Canadian mega fund Ontario Municipal Employees’ Retirement System (Omers) in a deal worth $1.7bn (£1.1bn). Omers’ private equity arm (OPE) will buy Charterhouse’s 55 per cent investment in Environmental Resources Management (ERM), which is headquartered in London with 162 other offices around the [...]
London Technology Week: The hunt for London’s unicorn tech startups June 15, 2015 There's no doubting the impressive numbers rolling out of London Tech Week. There’s also no lack of people willing to shout about these impressive feats, whether it be entrepreneurs, investors, economists, or the mayor himself. More than a dozen of London’s tech types today gathered near the summit of the Shard to kick off London [...]
London Technology Week: It’s official – London’s the capital of European tech June 15, 2015 London is the capital of Europe's tech scene, new research has suggested, with almost three times as many startups choosing the capital than those in the next-most attractive city, Paris. The research, by EY to mark London Technology Week, which launches today, suggested 1,000 "international tech investment projects" based themselves in London between 2005 and [...]
Banks call for better broadband and phone signals as UK customers switch to mobile banking apps June 14, 2015 The UK’S banking trade body is urging more government investment in broadband, 3G and 4G internet access, as new research shows that customers are becoming increasingly reliant on using their mobile phones and online access to conduct their banking activitys. Mobile phone apps are setting the pace for banking, according to the British Bankers’ Association [...]
Forging ahead: Raidla Ellex founder Juri Raidla talks Baltic collaboration, grandchildren and the day the world changed June 14, 2015 At the back end of 1991, the Soviet Union began heaving itself out of Estonia – 60 years after it invaded and illegally occupied it, and shoved in a puppet government. For the former Estonian SSR, independence was a watershed moment – a brighter future for a country reclaimed. But this was a country [...]
Manufacturers struggle to hit pre-crisis levels June 10, 2015 THE UK’S manufacturers suffered a drop in output in the April, according to figures released yesterday by the Office for National Statistics. Manufacturing output was 0.4 per cent lower than in March, and only 0.2 per cent higher than in April last year. Total industrial production – which includes mining and quarrying as well as [...]
Oil and gas fires up industrial production – but manufacturing output slides June 10, 2015 Industrial output rose by 0.4 per cent in April, according to figures from the Office for National Statistics (ONS), beating economists' forecasts of a 0.1 per cent rise. The bumper figure was driven by mining and quarrying which rose by 5.6 per cent – and this was helped along by oil and gas extraction which [...]