Posted By Thiago Kiwi
Greece now looks likely to default on loans and could exit the euro as banks close and prime minister Alexis Tsipras calls a referendum.
Shares have fallen around Europe today (29 June) as markets react to the ongoing financial crisis in Greece, where banks are expected to remain closed all week.
The FTSE 100 ended the day down nearly two per cent, as banking and travel stocks reacted negatively to Greece inching closer to leaving the euro.Read more >>
Cole Commission report urges UK government to further support and fund small exporters to help reach £1 trillion goal.
The UK’s government has been called upon to improve British exports by a new report, which suggests cabinet-led action to make it easier to support businesses. Commissioned by the last Labour opposition, the study said that improving UK exports was a “huge task” that should not be underestimated.Read more >>
London Technology Week 2015 launches, with Mayor Boris Jonhson attending, as research shows the UK capital is the tech hub of Europe.
The burgeoning tech scene of the UK’s capital was confirmed to be the best in Europe by new research, which was published to celebrate the opening of London Technology Week. The event is set to last all week, scheduled until Sunday, 21 June.
In fact, London was the premier choice for almost three times as many tech startups as the next attractive city Paris. Over 1,000 tech startups came to London between 2005 and 2014, nearly triple the 381 startups that set up shop in Paris.Read more >>
The UK economy could receive a welcome boost from exporting the higher education sector as a whole, says Universities UK research.
Higher education plays an essential role in the UK’s economy, supporting the uptake of skills while driving innovation and attracting investment and talent. New research this week from Universities UK shows that education exports offer a valuable contribution to Britain and its economy, creating a high-growth industry in its own right.Read more >>
UK Chancellor George Osborne will announce plans to create a law banning future governments from running a deficit.
The UK’s chancellor of the exchequer, George Osborne, will use his yearly speech at Mansion House the evening of June 10th to announce plans to introduce a law that forces future governments to run a budget surplus. It will effectively require governments to stop spending all the taxes and money it collects in “normal” economic conditions, instead saving some for times of hardship.Read more >>
Speaking at the Going Global conference, former Universities Minister David Willetts called for funding support for students looking to study abroad.
The Treasury should extend student loan funding to support students who wish to complete some of their studies abroad, according to David Willetts, the former Universities Minister. Speaking at the British Council’s Going Global conference this week, Mr Willetts lamented the lack of progressive funding schemes like those found in “enlightened” countries such as Norway.Read more >>
Businesses see costs of cyber attacks more than double to £1.46 million on average in the past year.
Cyber security breaches in UK businesses are rising once again and the average costs incurred by a break-in continued to soar. In fact, the average starting costs of the worst single breach suffered spiked higher for all sizes of businesses and more than doubled for most, according to a government-commissioned report from PwC.Read more >>
Barclays is considering replacing its corporate brokers not long after appointing John McFarlane as new chairman.
Banks are hurrying to throw together a pitch to become the broker of Barclays, after the bank announced it was putting its broking mandate under review. The group’s current corporate brokers Deutsche Bank and Credit Suisse have been invited to repitch for the position, but will face competition from Bank of America Merrill Lynch, JPMorgan, Goldman Sachs and UBS, according to CityAM.Read more >>
Lloyds Development Capital announces plans to invest £1.2 billion in UK middle-tier businesses over the next three years.
The private equity division of Lloyds Banking Group, Lloyds Development Capital (LDC), has recently detailed its plans to invest £1.2bn in medium-sized businesses in the UK over the next three years.
These plans will aim to boost growth in the British “Mittelstand” companies and the economy also, according to LDC.Read more >>
Nationwide Build Society posted £1 billion in profits for the year to April.
Nationwide Building Society has recorded a 54 per cent rise in annual profits, barely two years after the lender faced a £1 billion black hole in its finances.
The building society, one of the last in the UK to retain the mutual model where it is owned by customers rather than shareholders, said pre-tax profits for the year to April climbed to £1.04 billion.Read more >>
Students from overseas contribute £2.3 billion towards the UK economy, shows new study by PwC.
Foreign students coming to study in London contribute a net £2.3 billion to the UK economy and support 70,000 jobs, according to new research from PwC and commissioned by London First.
The report, titled “London Calling: International students”, will go along way to overturn claims that overseas students are a burden upon taxpayers, especially since the figure of £2.3 billion has already taken into account the estimated £540 million costs these students have on public services, including the NHS.Read more >>
British businesses have already outlined what they hope new Business Secretary Sajid Javid will prioritise.
The UK welcomes the appointment of Sajid Javid by David Cameron as the new Secretary of State for Business, but he’d barely put a foot through the door before the business community begin setting out their priorities.Read more >>
With businesses increasingly turning to economists when it comes to decision making, we explore the ins and outs of economics and analytics.
“Ignore economists at your peril” are the words of a McKinsey report that highlights the growing importance of seeking advice from economists. The use of economics has widened from being a tool to determine governmental and political policies, to something highly relevant to businesses.Read more >>
In the wake of Tesco’s mega loss, we wonder if it’s time for the death of the big supermarket.
Tesco’s pre-tax annual loss of £6.4 billion last year came as a surprise: analysts had only been estimating a loss of around £4 billion. It was the biggest loss in Tesco’s 96-year history, the sixth biggest corporate loss in the UK, and the largest annual loss ever witnessed by a British retailer.Read more >>
Survey illustrates that optimism in UK financial services is on the up.
Financial firms in the UK are becoming more optimistic, according to a recent CBI/PwC survey.Read more >>
The launch of three new business accelerators is planned in Bristol, Leeds and Brighton.
Three new business accelerators will open in Bristol, Leeds and Brighton, offering free services to 80 entrepreneurs in each city. The programme comes from Entrepreneurial Spark in conjunction with NatWest, and builds upon the success of their first accelerator in Birmingham earlier this year.Read more >>
The British economic recovery was further showcased by the latest round of labour data.
Britain’s healthy economy received another boost on Wednesday after labour figures showed a record number of UK residents are in work. It’s welcome news for Chancellor George Osborne ahead of May’s general election, and great news for the economy.Read more >>
The UK government has sold further shares of Lloyds, raising £500m from the sale.
A further tranche of Lloyds Banking Group shares have been sold by the UK government as part of its plan to return ownership of the part-nationalised bank fully back to private investors.
The government took advantage of a recent jump in share prices to sell another one per cent of its stake for £500 million and lowering its overall ownership to 22.9 per cent.Read more >>
Five of Latin America’s best hubs for starting a new online-driven small business.
The past ten years has been witness to an entrepreneurial boom in Latin America and is fast becoming a rival to counterparts in America and Europe, according to a recent press release from Dafiti.
As internet and mobile technology sweep the continent, there are a huge number of opportunities for startups, not to mention the added benefit of excellent funding programs and networking potentials.Read more >>
Britain is among the first countries to launch a scheme to boost SME cybersecurity.
Cybersecurity is one of the biggest challenges facing businesses but a new scheme aims to help better prepare Europe’s small and medium-sized enterprises (SMEs).
The co-ordinated cybersecurity taskforce and response (Costar) project is being piloted this year and the UK is one of the first countries to trial it.
It comes amid growing fears that Britain’s small businesses are ignoring the dangers posed by cyber crime and are not doing enough to guard against it.Read more >>
Small businesses in Britain are achieving turnover and profits last seen before the financial crisis in 2008.
As UK living standards return to pre-crisis levels, small businesses are also reporting their best performance since 2008.
Britain’s small firms have increased turnover, raised profits and expanded workforces over the last 12 months, according to the latest survey from the government, with businesses forecasting this positive trend to continue in 2015.Read more >>
Money is no longer all that attracts graduates to a company, according to EY.
Salary is no longer the main attraction for graduates that are considering their employment options, according to a new survey from Ernst and Young. The poll of more than a thousand students found that salary and benefits was no longer the number one consideration for graduates, despite coming joint top in last year’s survey.Read more >>
Direct and indirect spending by the UK government topped £11 billion during 2013/14, according to a report.
The UK government’s spending on small and medium-sized enterprises (SMEs) accounted for 26.1 per cent of all purchases made by Whitehall during the 2013/14 financial year, which meant the government exceeded its goal for 25 per cent of its procurement to go through SMEs, according to the latest figures.Read more >>
A new accelerator aimed at cybersecurity startups has been announced by Kaspersky Labs.
The launch of another cybersecurity accelerator highlights the rising popularity of this industry for investment, this time coming from the well-established security firm, Kaspersky Labs.Read more >>
UK’s top 100 share index breaks above the record closing high from 1999.
Britain’s leading share index sailed past the 1999 record closing high, lifted on a generally upbeat tone in the markets throughout Europe. Investors now eye the all-time index high as the next target, which lies around 6,950.Read more >>