The association of British manufacturers warned that Brexit will bring the country to uncertainty and risk. Meanwhile, poundsterling continue to be under pressure as the debate over U.K. to exit EU continues.
The US government has appeared in a row with Apple centering unlocking of encrypted data of an iPhone allegedly used by a terrorist. Apple opposes the demand citing creation of backdoors for the law enforcers, may lead to a potential abuse. Supporting Apple stand, Mark Zuckerberg has pledged playing due rolls in its fight while addressing in the Mobile World Congress on Monday.
Xavier Rolet, CEO of London Stock Exchange said that startup companies in United Kingdom need support to scale up. In order to make a leap from SME into a large cap business.
London-based Qubit received a Series C funding of $40 million. Goldman Sachs was leading the funding for the big data analytic platform which was announced on Monday.
HSBC Holdings Plc is not thinking it's time to deepen cuts at its securities unit. The bank's investment unit is suffering from drop in trading revenues amid sluggish financial markets. HSBC Holdings is aiming to reduce costs by $5 billion by 2017.
Investment inflows into oil and gas projects are dropping significantly. The investments in oil projects in 2016 is forecast to fall below £1 billion from the five-year annual average of £8 billion.
British currency suffered the biggest drop in one day, triggered by speculation Britain to leave. While Prime Minister Cameron stressed the importance of United Kingdom to stay in the EU.
2015 appears as the most successful business year ever from RES context. It has touched several milestones while being acknowledged as the Best of VMworld 2015 Europe. The browser extension provider has received $10 million from ORIX Ventures to accelerate its penetration into the emerging market.
Facebook has announced forming a social VR team. The team is led by two executives, Daniel James and Mike Booth, both from the video games industry. The team is expected to compete with several startups trying to bring video conferencing and social networking into VR.
On Saturday, London Mayor, Boris Johnson sent an email to Prime Minister David Cameron, announcing his support for United Kingdom to withdraw from European Union.
Taxi app Gett launches a new service called "Gett Courier" to up its game among competition. The new service promises to deliver packages across London within an hour, by an excellent team of delivery boys and girls who have undergone an intense study of the streets and by-lanes of London.
The renewed activity of football Premier League is bringing cheer to Leicester city. The flourishing economic activity in the far neglected city is reviving the hopes on rebalancing the UK economy. Economists suggest for enhanced economic activity in East Midlands for rebalancing Britain's economy.
NYSE-listed Broadridge Financial Solutions has invested in AMA Partners, BV (AMA). By taking minority stake in AMA Partners, Broadridge will expand its corporate governance solution in Europe.
Martin Hughes, founder of Toscafund warned that United Kingdom withdrawal from European Union will also force Ireland to quit. Brexit is also feared to bring recession in the UK
Abengoa SA has been witnessed to tatter since Spain government has withdrawn subsidy on renewable energy sector. The company has been battling with a debt burden of €8.9 billion and seeks fresh cash injection of €1.66 billion by the next two years. However, analysts doubt on the Spanish energy producer’s cash requirements.
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