In a cashless society, what will we do when our colleagues turn up rattling the collection tin? January 17, 2019 Periodically, a senior economist will suggest that as a society we could abolish cash. As an idea, it unites left and right in immediate dismay. On the one hand, it would strike a blow against individual liberty, giving retailers, banks, and possibly governments the potential to track your every transaction. On the other, it would [...]
City investment management firm Charles Stanley reports sharp assets drop amid challenging market conditions January 17, 2019 Investment management firm Charles Stanley saw assets under management fall last year due to challenging market conditions. Funds under management and administration were £22.8bn in the three months to the end of December, representing a decrease of 8.8 per cent, the City-headquartered firm announced today. The drop can be blamed on a sharp fall in [...]
Paid tha Cost to Be da Boss: Snoop Dogg invests in Swedish fintech unicorn Klarna January 17, 2019 Rapper Snoop Dogg has invested in $2.5bn (£1.94bn) Swedish fintech company Klarna, it emerged today. The rapper, famed for hits such as Gin & Juice, From tha Chuuuch to da Palace and Ain't Nuthin but a G Thang, has more lately reinvented himself as an investor, playing a role in specialist cannabis venture capital firm [...]
Funding Circle beats revenue growth forecasts three months on from IPO January 17, 2019 Small business lender Funding Circle has beaten its forecasts for revenue growth and loans under management three months after a disappointing debut on the London Stock Exchange. The company hit revenue growth of 55 per cent in the fourth quarter of 2018, exceeding the 50 per cent guidance which was estimated at the time of its [...]
Experian reports strong growth driven by US expansion January 17, 2019 Consumer credit data company Experian reported strong growth in its third quarter trading update this morning, driven by the expansion of the US business. Shares were up two per cent on the news that the firm’s underlying organic growth was nine per cent, boosted by 12 per cent growth in North America with both the [...]
Rahaf Mohammed has lifted the veil on the brutal Saudi regime January 17, 2019 Rahaf Mohammed is at first glance an unlikely harbinger of change in Saudi Arabia. Teenage girls usually know their place in Saudi society: unlike the Victorian child, they are neither to be seen nor heard. But her near-miraculous escape from the clutches of Saudi authorities, which sought to forcibly return her to a family outraged [...]
Forget Brexit – the British economy is running out of money January 17, 2019 The media circus around Brexit is currently the focus of virtually all economic commentary on the UK. This fixation is so all-consuming that we risk missing another real threat to the economy: the dramatic slowdown in the growth rate of broad money This refers to the total amount of money in the economy. There is [...]
Global trader Louis Dreyfus to exit dairy sector as part of strategic overhaul January 16, 2019 Louis Dreyfus Company (LDC), one of the world's biggest agricultural commodity traders, announced today that it will exit its dairy business by mid-2019. The company, majority-owned by Russian-born heiress Margarita Louis-Dreyfus, has already separated the dairy business from the rest of its operations and intends either to wind down the division or find a buyer. [...]
Blackrock investigates hoax letter to chief executives over climate change January 16, 2019 Blackrock is investigating a hoax letter published this morning, claiming to be from chief executive Larry Fink, that warned companies that the world’s largest investment firm would divest unless they took action against climate change. The letter, which was posted on a spoof Blackrock website as the company reported its financial results, said the investor [...]
Blackrock assets under management drop five per cent January 16, 2019 Blackrock’s assets under management dropped five per cent last year as the world’s biggest investment manager saw inflows slashed in half. The manager reported AUM of $5.97 trillion at the end of 2018, down from $6.3 trillion in 2017. Read more: Blackrock and Metro Bank on shortlist for new responsible business award In 2018, full-year total [...]
