Business

London is home to a whopping 4,400 super rich people, more than any other city in the world. Data from the Wealth Insight report revealed the number of super rich people (net assets worth $30m or more, excluding the value of their main house) is up by 0.8 per cent over the previous year. London now has 25 per cent more multi-millionaires than its closest rival Tokyo, and 29 per cent more than in third place Singapore. UK multi-millionaires are most likely...

According to Google’s Consumer Barometer, the percentage of people in the UK who use a smartphone rose from 51% to 71% from 2012 to 2015. In 2016 that is set to rise to well over 80%. Google’s research shows that smartphones are for more than just keeping in touch – many people (especially young millennials) use them for just about everything: work, shopping, Facebook, watching videos, recording videos, the list goes on… Google estimates that 90% of millennials go online...

By Joe Mellor, Deputy Editor Three hundred leading economists have said that tax havens serve no useful purpose and only increase inequality. The charity Oxfam organised the open letter and has been released ahead of an anti-corruption summit this week in London. In the letter to world leaders the economists, including the Cambridge economist Ha-Joon Chang, say that tax havens “undoubtedly benefit” rich individuals and multinational corporations, but this benefit is at the expense of the rest of society. The...

By Joe Mellor, Deputy Editor Around ten million pounds will be paid to 250 construction workers who had been “blacklisted” by building firms. Construction giants like Sir Robert McAlpine and Balfour Beatty are among the companies who are liable and have agreed to compensate union members who they denied work to. The final payout from the out of court deal by the Unite union on behalf of nearly 800 workers could be as high as £75m once all claims have...

By Joe Mellor, Deputy Editor A new range of British army fighting vehicles will be constructed abroad, even though the PM hailed the £3.5bn deal as a huge boost to UK manufacturing. According to the Mirror, there will be a hundred of the Ajax fighting vehicles will be “fully manufactured and assembled” in Spain, the Ministry of Defence has admitted. The hulls for almost 500 more will be made in Spain before the vehicles are transported to the UK for...

The media is abuzz with the emergence of Finnish technology companies; and they’re markedly different from the norm. There is no doubt that consumers have been crying out for an alternative to traditional banking practices for a long time now, particularly when it comes to things like high remittance fees and transfers. But are FinTech companies bringing about revolution or evolution?   The Argument for Revolution From peer-to-peer lending, to wealth management, to crowd funding – there is nothing that is...

Building your own business from the ground up is a pretty enormous task. You have to be your own manager, your best creative mind, your own accountant. But do you really have to do everything yourself? Wouldn't it be nice if, at the very least, somebody else would take care of where your brainchild can grow up and take its first steps? Today The Office Design Company have shared 7 start-up hubs in London that are worth watching if you’re...

Can’t decide whether to invest in your IT equipment or rent instead? This post talks you through the all-important business considerations you need to make.

By Joe Mellor, Deputy Editor There have been claims made by a well known anti-corruption campaigner that UK authorities will “always find excuses not to investigate” money laundering. Bill Browder, a former Hedge Fund chief, told MPs that the UK are actually refusing to look at evidence of “dirty” Russian money, that indicate that money is being laundered through our banking system. Browder believes that authorities don’t want “to rock the boat,” even when he filed six complaints linked to...