It’d be a Christmas miracle if the chancellor delivered on these three festive reforms December 16, 2016 While Philip Hammond hasn’t been chancellor for long, he has already adopted George Osborne’s style of giveaways – the gifts aren’t simply bought by taxpayers, but are often funded by taxpayer money that hasn’t been raised yet. Of course, this kind of gift-giving rarely places the goods in the hands of the people who need [...]
Nissan’s staying put in Sunderland, dispelling Brexit woes October 27, 2016 Nissan will build its next Qashqai SUV as well as the X-Trail SUV model in Sunderland, marking a huge vote of confidence in the UK. The department for business, energy and industrial strategy has confirmed the news after months of uncertainty following the Brexit vote. The decision comes following "support and assurances from the UK government", according to Nissan's chief [...]
The pound reaches $1.25 against the dollar on yen trading as May announces desire for business-friendly Brexit November 21, 2016 The pound gained in value in Monday afternoon trading, reversing some of the losses inflicted over the past few weeks. The pound rose over one per cent from the previous close of $1.23 against the dollar, breaking the $1.25 mark. Sterling was up over 1.2 per cent against the yen, to over ¥138.65, while it gained [...]
As the CES tech show closes in Las Vegas, what will be the most exciting consumer development in 2017? January 9, 2017 Alex Wood, founder and editor of The Memo, says Amazon's Alexa. Amazon’s Alexa is about to take over the world, in a good way. The home of the future is filled with internet-connected devices but, until now, no one has figured out how we’ll manage all these bleeping and blooping smart machines. In Las Vegas [...]
After strong Christmas trading, Revolution Bars expects to hit its financial targets January 19, 2017 Revolution Bars said cheers to Christmas sales as it anticipates half-year results to 31 December will fall in line with the board's expectations. The figures In a trading update today ahead of its half-year results, the operator of 66 premium bars across the UK said like-for-like sales were up two per cent, while overall sales – [...]
The deadly risk of sugar: It’s time investors reassessed food and drinks companies March 15, 2017 In a year where major political earthquakes have moved markets and dominated the news agenda, it’s easy to overlook an investment risk posed from a more mundane source. Overconsumption of sugar, an everyday household item, has consequences both for businesses and their investors that could leave a bitter taste. In 2014, more than 1.9bn of [...]
UK’s financial services sector goes from strength to strength as City trade surplus jumps to a record high November 1, 2016 The UK's financial services sector has boomed to its highest level of trade surplus yet, highlighting the importance of maintaining and developing the City's trade ties post-Brexit. The level of trade surplus in the financial sector jumped $283m (£185m) to reach $97bn (£63.4bn) in 2015, according to a TheCityUK report. The lobby group said the financial sector surplus is [...]
Former Barclays boss says technology is the key to scandal-free banking November 6, 2016 A former Barclays boss has said banking scandals could be slashed if there were less people across the sector and more computers. Antony Jenkins, who was suddenly let go from his group chief executive role at Barclays last year, has previously spoken about the "Uber" moment the industry is undergoing, and launched his own fintech venture, [...]
FinnCap chief executive Sam Smith on IPOs, MBOs and the value of skin in the game March 14, 2017 FinnCap is a unique business grown from unusual circumstances. The leading City broker was established in 2007, when Sam Smith, its chief executive, orchestrated the management buy-out (MBO) of a small broking subsidiary of a private client stockbroking firm. Most significantly, FinnCap is now almost entirely owned by its employees – something that was a [...]
Loans to home buyers fell in October December 14, 2016 Loans to home buyers fell by eight per cent in October, despite the amount borrowers are paying towards interest rates hitting a historic low. First-time buyers borrowed £4.5bn, a monthly decrease of eight per cent, and a year-on-year drop of two per cent, according to figures from the Council of Mortgage Lenders (CML). Read more: [...]