Powa layoffs off 74 of around 100 London employees after entering administration February 23, 2016 Powa Technologies, once billed by its chief executive Dan Wagner as the future biggest tech company in the world, has made 74 of its London employees redundant after burning through its massive cash pile. Powa Technologies Group was placed into administration on Friday, appointing Deloitte to oversee a potential sale after lead investor Wellington Management called in its loans. [...]
HSBC’s decision to keep its HQ in London is a ringing endorsement of the whole UK February 22, 2016 HSBC has not been far from the headlines in the past few days, and we can expect more news from the global banking giant today as it publishes its Annual Results. The issue that has kept so many City figures interested in the company for the past few months has been its decision over where [...]
Proptech: Technology is poised to transform the UK housing market February 19, 2016 The phrase “fintech” has long since entered mainstream use, while buzzwords like adtech, edtech and medtech are becoming increasingly familiar too. Now a newish category is entering the technology startup lexicon: “proptech”. The UK’s property industry has remained stubbornly resistant to change, even as innovation reshapes entire verticals across the wider economy. Compared with, say, [...]
Open outcry lives on at the London Metal Exchange February 19, 2016 The message the London Metal Exchange (LME) is sending with its new office, including a tech heavy open call trading ring, is clear: “we’re embracing the future, while retaining the tradition.” The 139-year-old London Metal Exchange closed the doors on its previous two-decade home in January, and has since moved to a purpose built space on [...]
As London Fashion Week AW16 nears, designers must pay attention to the increasing problem of copycat rip-offs February 18, 2016 As London Fashion Week gets underway, it's another reminder that designers must be vigilant to ensure their coveted designs aren’t copied by high-street retailers. Today’s copyists are quicker and better than ever before. The minute a model sets foot on the catwalk, a copycat design is already being sketched and, within a matter of weeks, or sometimes days, the [...]
LFW Autumn-Winter 2016: Mercedes Benz, BMW and DS battle it out on the catwalk ahead of London Fashion Week February 17, 2016 There's a battle for the catwalks raging between the world's biggest car manufacturers. Earlier this week, official London Fashion Week sponsors Mercedes-Benz announced its cars will be ferrying the fashion pack around when they gather in the capital for the bi-annual celebration of All That Is Trendy this weekend. It estimated that 32,000 miles will be driven between shows [...]
Auto Trader share price hits the gas as it hikes profit expectations February 17, 2016 It's been a bumpy ride in recent weeks on the test track that is the UK markets – but recently-listed Auto Trader isn't showing any signs of oversteer. In a trading update this morning, the company said it had performed well in the past four months, with a stronger-than-expected increase in average revenue per retailer forecourt. Because [...]
Forget Uber, take a flying water taxi home on Friday nights instead – as French inventor Alain Thebault shows off his SeaBubble February 16, 2016 Forget the ongoing battles between London’s traditional black cabs and Uber – if a French inventor has his way, flying water taxis could soon be hovering over the Thames. Boris Johnson is apparently among a group which has contacted the inventor, Alain Thebault, to ask about his new lightweight “SeaBubble” vehicle. The SeaBubble, described as “a bubble with [...]
Redefine International raises £115m to fund property deal February 16, 2016 Redefine International has raised £115m via a share placing to help fund its £437m acquisition of a portfolio of properties from insurer Aegon's UK Property Fund. The retail and commercial property investor, which is listed in both the UK and South Africa, bought the first tranche of the AUK Portfolio in October for £203.5m using existing cash resources and a [...]
George Osborne’s National Living Wage is a tax on employers hiring low-skilled workers February 16, 2016 A tip for the chancellor: if you want to save some easy money, slash your own propaganda budget. In London, we seem to be inundated with bus station ads championing what many consider to be misguided housing policies and by others highlighting the introduction of the new “National Living Wage” of £7.20 from April. It [...]