What’s going to happen to the tech industry in 2016? Fewer IPOs, compressed unicorn valuation and slowing M&A activity December 8, 2015 The year 2015 was packed with fintech unicorns, blockchain hype and tech bubble fears – but what’s in store for the tech industry in 2016? M&A advisers Magister Advisors have peered into their crystal ball and offered their top predictions. The TL;DR version? Expect 2015’s “reality distortion field” to dissolve next year. Gulp. 1. Don’t hold your breath for [...]
Cenkos share price rises after it denies probe by the Serious Fraud Office over Quindell December 8, 2015 Shares in Cenkos rose 15.5 per cent to 170.4 p per share today, after the mid-tier broker and investment house said it's not under investigation by the Serious Fraud Office (SFO). Cenkos was formerly the nominated adviser to scandal-engulfed insurance services company Quindell, which is currently being investigated by the SFO over "business and accounting practices". The clarification came [...]
UK industrial production beats expectations in October but manufacturing still drags December 8, 2015 UK industrial production grew 1.7 per cent in the year to October, beating economists' forecasts for 1.2 per cent growth, and painting a positive picture for the sector, new data from the Office for National Statistics shows. Mining and quarrying rose 8.5 per cent, followed by water supply, sewerage and waste management output, which rose four per [...]
AB InBev’s chief exec to defend Megabrew deal with SABMiller before Congress December 8, 2015 AB InBev chief executive Carlos Brito is hoping to ease lawmakers’ concerns about the mammoth megabrew merger with SABMiller by defending the deal in front of US Congress today. The £71bn deal, the biggest ever British corporate merger, will create the world's biggest brewer, gobbling up about half the industry’s total profit. It’s estimated that [...]
FTSE 100 index opens lower on miners, including Anglo American and BHP Billiton December 8, 2015 The FTSE 100 index opened down this morning, led lower by miners. Again. The UK's blue-chip index opened 0.25 per cent down at 6,208 points, led lower by Anglo American and BHP Billiton. Anglo opened 2.76 per cent down at 358.7p per share, while BHP Billiton's stock flopped 3.53 per cent to 737p per share. Anglo American today set out [...]
House price growth dips as UK housing value increases by £1.8 trillion in 10 years December 8, 2015 The value of the UK's housing stock has jumped by £1.8 trillion in the past decade, research by Halifax showed today. UK homes are now worth £5.1 trillion, a 53 per cent jump from £3.3 trillion in 2005. That's a £76,316 rise for each home in the UK. The news came as Halifax reported annual house price [...]
London economic growth will outstrip New York by 2030 December 8, 2015 London's economy is expected to grow more quickly than New York's over the next 15 years, helped by its ability to benefit from international growth. The capital's economy will grow by an average of 2.9 per cent a year between now and 2030, outpacing New York's 2.6 per cent, according to the report by consultancy [...]
Oil price drags on the FTSE 100 as airlines takeoff – London Report December 8, 2015 OPEC’S failure on Friday to agree to curb oil production weighed yesterday on the FTSE 100 index. The cartel failed to reach agreement despite a global supply glut and the strength of the dollar, which is leading to the collapse of global oil prices, with the resulting uncertainty hitting stock markets. The FTSE 100 closed [...]
New year, new employees, as London’s hiring intentions place above the national average, although the capital is outpaced by the Northern Powerhouse December 8, 2015 London can expect a jobs boom in early 2016, with employer’s hiring intentions higher than those of the national average. A report out today by Manpower, based on responses from 2,102 UK employers, has found that London’s seasonally adjusted employment outlook is nine per cent, which is the net proportion of employers in the region [...]
UK retail sales: Online Black Friday bonanza steals limelight away from the high street December 8, 2015 High street retailers lost out in November, with sales falling into the red, as online retailers enticing shoppers with Black Friday bargains stole the show. Like-for-like retail sales fell by 0.4 per cent last month compared with November last year, when they had increased 0.9 per cent from the preceding year, according to figures released [...]
