Germany’s finance minster warns against “punishing” Britain and losing out on the City

Sunday 5 February 2017 12:34 pm Germany’s finance minster warns against “punishing” Britain and losing out on the City Mark Sands Share “We want to keep Great Britain close to us,” Schauble said.Read More: Hurting the City will hurt the EU too“The London financial centre, for example, serves the European economy as a whole.“London offers financial services in a quality that is not found on the continent. That would change a bit after a split, but we have to find reasonable rules here with the UK.”Schauble’s comments come after European leaders gathered in Malta for an informal summit on migration, with Prime Minister Theresa May reiterating her message that it remains in the interests of the UK for the European Union to succeed. Read More: The City’s importance to Europe helps the PMMay’s tone was welcomed by German Chancellor Angela Merkel who told reporters at the summit: “I am pleased that Theresa May says that she wants a strong Europe.“It’s up to us, as the 27, to determine how strong and how good and how rigorous Europe is and how we solve our problems – and Germany wants to do its part on that.” The merits of the Square Mile should lead Europe to offer a “reasonable” deal on Brexit, according to Germany’s finance minister.Speaking to German newspaper Tagesspeigel, Wolfgang Schauble warned against seeking to “punish” the British for the decision to leave the EU. whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comPuffer fish snaps a selfie with lucky divernypost.comConnecticut man dies after crashing Harley into live bearnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com whatsapp read more

Home secretary Sajid Javid confirms no automatic rights for EU workers after Brexit

Home secretary Sajid Javid confirms no automatic rights for EU workers after Brexit whatsapp This would be covered in the immigration white paper, due out in the autumn, after the Migration Advisory Committee (MAC)’s report is published in September, Javid said.He told MPs: “There will be no automatic right for anyone from the EU, or anywhere else in the world, to make a unilateral decision to hop on a plane and come to work in UK.”As revealed by City A.M., Javid recently dropped this as one of two post-Brexit systems in favour of an Australian-style points-based system. However he has come up against friction from chancellor Philip Hammond and business secretary Greg Clark, who fear this will cause disruption to businesses used to employing workers from the EU.It was thought that immigration would not be included in the Brexit white paper due out on Thursday, but Javid told committee chair Yvette Cooper that there would be “a chapter” dealing with the broadstrokes.He reiterated the government’s position that freedom of movement would come to end after Brexit, and indicated his position on the future immigration system. Home secretary Sajid Javid has confirmed there will be no “automatic right” for EU citizens to work in the UK after Brexit, potentially ramping up tensions between him and Cabinet colleagues.Speaking to the Home Affairs Committee this morning, Javid declined to comment on whether highly-skilled workers would be able to look for a job in the UK without the need for a visa or whether businesses would require a visa for each EU worker they employ. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Tuesday 10 July 2018 10:03 am “Freedom of movement as we understand it today will end, but also there will be no version of that, no derivative of that, no type of free movement, no backdoor version of free movement,” Javid said. “Free movement will end.” Share whatsapp Catherine Neilan read more

Insurance giant Munich Re buys internet of things company Relayr in $300m deal

Tuesday 4 September 2018 1:34 pm Insurer Munich Re announced today the acquisition of tech company Relayr which focuses on the “internet of things” in the industrial sector.The deal values the company at $300m (£233m)  and is part of Munich Re’s move to create new business models in the industrial internet of things sector. Insurance giant Munich Re buys internet of things company Relayr in $300m deal Read more: Private equity firm Apollo takes Aspen Insurance private in $2.6bn dealRelayr provides services to industrial companies looking to digitise their business.These include platforms which can be used by companies to connect hardware and software to extract and analyse data from objects such as machines and equipment.The data can then be used to help determine when a machine needs fixing or if it is likely to fail.Munich Re management board member Torsten Jeworrek said: “The internet of things is already changing our world and has the potential to disrupt the traditional insurance and reinsurance industry through new business models, services and competitors. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryHouse CoastPregnant Beggar Was Asking for Help, But Then One Woman Followed HerHouse CoastZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Heraldinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.commoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBetterBe20 Stunning Female AthletesBetterBeTotal PastThis Woman’s Obituary Was So Harsh, Her Son Was Left ReelingTotal Past More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Share Read more: Value of inward UK M&A deals fell by £15.8bn in Q2“This acquisition is a clear example of our strategy: we are combining our own knowledge of risk, data analysis skills and financial strength with Relayr’s technological expertise. This is our basis to develop new ideas for tomorrow’s commercial and industrial world.”Although Relayr will become part of Munich Re it will continue to operate autonomously and the company said it will “retain its distinct start-up culture” in order to drive innovation and attract talent.The transactions is subject to regulatory approval and is expected to close within the next four to six weeks. James Booth whatsapp read more

Elon Musk’s Space X signs up first private moon flight passenger

first_imgFriday 14 September 2018 5:05 pm Elon Musk’s Space X signs up first private moon flight passenger Nicholas EarlNicholas Earl is a sports and business contributor. whatsapp Tags: Elon Musk International Space Station People However, Musk has now focused attention to the Big Falcon Rocket to reduce operating costs at Space X. Eventually he hopes to travel to Mars through the BFR system in 2022. The upgraded rocket will be reusable and have the thrust power to launch 150 tons of cargo to the Red Planet.Read more: Elon Musk’s ‘erratic behaviour’ causes bank to downgrade Tesla stockPreviously, Space X had declared that two tourists had paid a deposit for a trip around the moon this year. The names of the customers have still not been disclosed and the journey has yet to take place. It was also scheduled to use one of the Dragon crew vessels that routinely travels with supplies to the International Space Station.The news of Space X’s newest travel plans come at a difficult time for Musk. His public attempts at privatising Tesla, the electronic car company where he is also chairman and chief executive officer, have led to an investigation by the Securities and Exchange Commission.Two high profile resignations by senior staff at Tesla came after Musk smoked a joint during a podcast with comedian Joe Rogan, after he doubled down on calling a rescue diver who helped save the trapped Thai boys a “pedo”. Space X has announced that it has signed up the first private passenger to fly around the moon on its new Big Falcon Rocket launch system.center_img Share whatsapp Elon Musk’s company said it was a crucial step towards a future of everyday space travel.Read more: ‘It’s legal, right?’ Elon Musk smokes weed on podcastThe rocket is being developed in Los Angeles, with Space X set to reveal the identity of the traveller on Monday.Earlier this year, Space X successfully launched the Falcon Heavy rocket from the Kennedy Space Centre in Florida.The rocket was the most powerful spacecraft to leave the Earth’s atmosphere and garnered significant media attention for its eye-catching payload dummy that sent Musk’s own Tesla Roadster in orbit around the Sun to the sounds of David Bowie’s Starman. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBetterBe20 Stunning Female AthletesBetterBeTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteabley last_img read more

DEBATE: Is there a silver lining for consumers to the increased inflationary pressures?

first_img Is there a silver lining for consumers to the increased inflationary pressures?Emma-Lou Montgomery, associate director for personal investing at Fidelity International, says YES. Increasing inflation is rarely good news for consumers. If prices rise at a faster rate than incomes, households will be compelled to consume less. Households could possibly use other means, such as savings or borrowings, to maintain their level of consumption, but this option presents its own set of problems.Another concern with rising prices is that, recently, the effects have been shared unevenly across the population. Inflation hits those with lower incomes disproportionately hard compared to the rest. Persistently high inflation could lead to higher inequality.We don’t have to look that far back in time to see how higher inflation affects consumers. The drop in sterling following the EU referendum sent UK consumer prices soaring, causing households to dip into their savings to limit the impact. Given that this bout of inflation was thought to be temporary, it wasn’t a completely irrational reaction. But with savings depleted, the ability of households to withstand another period of high inflation will be limited. Consumption would likely fall.Read more: Mark Carney: Chequers-style Brexit could ‘bounce’ UK economy by £16bn DEBATE: Is there a silver lining for consumers to the increased inflationary pressures? More From Our Partners Porsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comColin Kaepernick to publish book on abolishing the policethegrio.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKansas coach fired for using N-word toward Black playerthegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.com A little inflation can be a good thing. It’s a sign of an improving economy, and it means that your debts – providing that your income rises in line with or above the rate of inflation – will reduce over time in real terms.We all know how inflation erodes the value of the pound in your pocket, which isn’t good, admittedly, but on the flip-side it works in your favour when it comes to your mortgage.Quite simply, inflation at 2.7 per cent erodes mortgage debt much more quickly than if inflation were flat. Yesterday’s £100,000 loan becomes £97,300 in today’s money. And as long as your earnings also generally stay in line with inflation, given time you’ll end up paying off yesterday’s loan with tomorrow’s earnings.Anyone who bought a house in the 1970s will know first-hand how the value of their mortgage debt has decreased in real terms as their wages have increased. So yes, even if the supermarket shop gets more expensive, there’s a silver lining.Read more: Inflation rises to six-month highDean Turner, economist at UBS Wealth Management, says NO. whatsapp whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoBetterBe20 Stunning Female AthletesBetterBeUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstUndoBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndo Emma-Lou Montgomery and Dean TurnerDean Turner is UK economist at UBS Wealth Management. Thursday 20 September 2018 8:21 am Tags: Trading Archive Sharelast_img read more

Brexit secretary says Chequers plan is not ‘perfect’ as he urges Tories to back the proposal

first_imgMonday 1 October 2018 11:17 am “If the EU want a deal, they need to get serious,” said Raab, adding: “and they need to do it now.”He went on: “As in any negotiation, we will listen to alternative ways of delivering on the strategic criteria we have set out.”Because a good deal would be the best outcome for everyone, but our willingness to compromise is not without limits.” Tags: Boris Johnson Brexit Conservative party conference Donald Tusk People Theresa May Share whatsapp More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPuffer fish snaps a selfie with lucky divernypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com whatsappcenter_img Speaking at the Conservative Party conference in Birmingham, Raab claimed eurosceptics would have “bitten my arm off” before the 2016 referendum for the deal he and other ministers were now offering.The Chequers proposal – labelled “deranged” by former foreign secretary Boris Johnson – would see the UK follow EU rules on goods and agri-foods, but plough its own way on services.Critics believe the plan would see the UK severely restricted in the kinds of trade deals it could negotiate after Brexit, while European Council president Donald Tusk has warned it “will not work” as it threatens the integrity of the EU’s Single Market.Read more: May’s Brexit plan ‘will not work’ says EU in devastating blow to PMAddressing Tory members and fellow MPs, Raab called for the party to come together to back the plan, saying: “Do I think the deal we are pursuing is perfect? Of course not. Brexit Secretary Dominic Raab today admitted the Prime Minister’s EU negotiating plan is not perfect as he appealed to his fellow Tories to back the so-called Cheques proposal. Brexit secretary says Chequers plan is not ‘perfect’ as he urges Tories to back the proposal Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstUndoCrowdy FanKaley Cuoco Net Worth Left Her Billionaire Husband SpeechlessCrowdy FanUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It LoveUndo “Is it everything I wanted? No it isn’t.”This is a negotiation, there have been compromises.”We’re not decoupling as quickly or as completely as some would like, and we have been prepared to accept certain EU requirements, in order to secure our own interests.”He added: “To those of my fellow Eurosceptics who think it’s not good enough, I say this: if I’d told you three years ago that we were going to end free movement, stop the vast annual budget contributions, leave the Single Market, get out of the customs union, pursue an independent trade policy, make Parliament supreme, protect the Union, exit the Common Fisheries Policy, and ditch the Common Agricultural Policy, you’d have bitten my arm off.”Turning his attention to the EU, Raab echoed Theresa May’s call for Brussels to put forward counter-proposals to tackle the concerns they have over the UK’s offer. Owen Bennett last_img read more

Shareholder slams Johnston Press rescue plan as pensions put at risk

first_imgSunday 18 November 2018 4:28 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFinance Wealth PostTom Selleck’s Daughter Is Probably The Prettiest Woman To Ever ExistFinance Wealth PostAffluent TimesLily From The AT&T Ads Is Causing A Stir For One ReasonAffluent TimesTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyBeach RaiderColleagues Find Woman’s Bikini Photos Inappropriate, Give Her UltimatumBeach Raider James Warrington Ager-Hanssen said today that while jobs had been protected in the short-term he was unhappy at the way the sale had been handled and voiced concerns about the long-term security of jobs under the ownership of a US hedge fund.“Today’s pre-pack was not so much a corporate rescue as a blatant pre-planned corporate theft by bondholders, suitably aided and abetted by Johnston Press’ incompetent and double-tongued board and its chief executive David King,” Ager-Hanssen said in a statement.But sources close to Johnston Press told City A.M. Ager-Hanssen was offered the chance to make a proposal for the sale but had failed to do so, adding that the deal was the best possible resolution to the company’s financial troubles.Johnston Press, which owns 200 titles including the I newspaper, the Scotsman and the Yorkshire Post, put itself up for sale in October and went into administration on Friday after it failed to secure a deal to resolve debts of £220m.The company’s share price soared last week after it was reported that the Daily Mail’s owner was planning to make an offer for the I newspaper. A deal to buy publishing company Johnston Press out of administration puts jobs and pensions at risk, according to the publisher’s largest shareholder.Custos Group chief executive Christen Ager-Hanssen criticised a pre-packaged sale that sees ownership transferred to JPI Media, a newly-formed company owned by the bondholders of Johnston Press, including American hedge fund Goldentree Asset Management. Custos has a stake of over 25 per cent in the publishing giant. Tags: Asset management Pensions Shareholder slams Johnston Press rescue plan as pensions put at risk whatsapp Share The National Union of Journalists (NUJ) also expressed concern about the deal, calling for “meaningful guarantees” to protect jobs and titles at the company.Michelle Stanistreet, NUJ general secretary, said: “We welcome the commitments made by the current management of Johnston Press that no jobs will be lost in this process and the terms and conditions of staff are protected.“However, we have significant concerns about what the long-term intentions of the newly-created company will be. We want meaningful guarantees on the future and integrity of these titles and the livelihoods of staff, and a commitment that this is not a transition leading to a carve-up of the group motivated by asset-stripping rather than a commitment to journalism and publishing.”The NUJ said it will hold further talks with Johnston Press on Monday. But on Saturday the newly-formed JPI Media said it had bought the publishing group in a deal that secures jobs and the future of its titles.It said the bondholders had agreed to reduce the company’s debt by more than 60 per cent to £85m and provide £35m of additional funding. It has also extended debt maturity to December 2023.But the agreement does not secure the company’s defined benefit pension scheme, which will be referred to the government’s Pension Protection Fund (PPF).In a letter to colleagues JPI Media chief executive David King said 250 current staff members could see their future pensions affected.”The negative effects on the scheme are an inescapable consequence of taking the steps needed to ensure the future of the business,” he said. whatsapplast_img read more

Failed tech startup Blippar to relaunch as Nick Candy’s venture firm comes to its rescue

first_img Emily Nicolle Share Blippar’s chief executive Ambarish Mitra will remain at the head of the startup, with several former Blippar team members and original engineers also being transferred.The augmented reality (AR) startup filed for administration in December after a dispute over continued funding for the business, which Candy Ventures today claimed to be the Malaysian sovereign wealth fund Khazanah Nasional Berhad.Administrator Paul Appleton said the sales process for Blippar had drawn a considerable number of bids. Candy Ventures did not disclose the financial details of the acquisition, however it is thought to be much less than Blippar’s pre-existing valuation of more than $1.5bn (£1.2bn).Read more: Augmented reality startup Blippar enters administrationMitra lauded the news as a “hugely positive outcome” for Blippar, and said the firm would focus on augmented reality as its most sustainable revenue stream. The startup had previously flirted with artificial intelligence and dreamed of building a visual search engine for smartphones. Wednesday 23 January 2019 1:03 pm Property tycoon Nick Candy has bought up the remaining assets of failed technology startup Blippar after it collapsed into administration last month.Already a major shareholder in the business, Candy now owns the intellectual property assets of Blippar and its various brands, which his venture firm said would be deployed into a new business. The statement from Candy Ventures said Blippar would develop an AR creation and publishing platform known as Blippbuilder, enabling anyone to create AR regardless of previous technical experience.Blippar was heralded as one of the UK’s original startups when it launched in 2011, and has since worked on several major projects including the BBC’s Planet Earth II series. “The augmented reality market is growing exponentially and Blippar was an early innovator and leader in this space,” said a spokesperson for Candy Ventures. “Rish and the team built a great business which had to adapt to the challenges of a constantly-evolving industry. With the right application of its powerful AR technology, there is huge potential for the new company to drive innovation in AR and position itself at the forefront of the industry.” Tags: Artificial intelligence (AI) and robots Startups whatsapp whatsapp Failed tech startup Blippar to relaunch as Nick Candy’s venture firm comes to its rescue last_img read more

Row over Bank of England’s Venezuelan gold heats up as senior Tory MP writes to Carney

first_img Row over Bank of England’s Venezuelan gold heats up as senior Tory MP writes to Carney Read more: Labour leadership accused of ‘weasel words’ over Venezuela by their own MPs​“The transfer of any gold to Venezuela under the current conditions will only serve to line the private pockets of a corrupt regime,” he wrote.Blunt is the latest MP to wade into the row after it emerged representatives of Maduro’s government held a secret meeting with the Bank of England last month in a bid to negotiate the return of its gold reserves.Blunt also asked foreign office minister Sir Alan Duncan what the UK is “going to do” about the matter. Duncan replied that it was a matter for the Bank.“It would be unconscionable if the Bank of England was party to any arrangements of more assets of the people of Venezuela being stolen,” Blunt told City A.M. Monday 28 January 2019 6:27 pm Tags: Bank of England Mark Carney People Theresa May Venezuela Read more: Bank of England slammed over secret Venezuelan gold summitThe comments came a day after Venezuelan opposition leader Juan Guaido, who has been recognised as interim president by a growing number of countries including the US and Canada, called on Prime Minister Theresa May and Carney to block the transfer.The Bank has refused to give a view on the issue, saying it does not comment on individual customer relationships. James Warrington center_img The row over the Bank of England’s handling of Venezuelan gold escalated tonight after the former chair of parliament’s Foreign Affairs Committee revealed he had written to governor Mark Carney expressing his concerns over the arrangement.Senior Tory MP Crispin Blunt urged the governor to block President Nicolas Maduro’s attempts to take back the gold, which is thought to be worth $1.2bn (£911m). Share whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org whatsapplast_img read more

How to capitalise on China’s luxury boom

first_imgOther than the acquisition of luxury goods, our Chinese clientele differ from western counterparts when it comes to their growing focus on education consultation and investment property sourcing abroad, as well as looking for the best healthcare providers in the world.On Tuesday, people all over the world celebrated Chinese New Year and ushered in the year of the pig.While the country’s economic slowdown has sparked concerns in recent months, if you’re in the luxury business and have a bespoke offering to make you stand out from the crowd, you’ll find consumers in China prepared to pay for it. Tags: Trading Archive Opinion Annastasia Seebohm whatsapp How to capitalise on China’s luxury boom City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comConnecticut man dies after crashing Harley into live bearnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com What can they thank for that? Mostly sales of expensive fashion items and handbags.This change in Chinese spending habits is down to a number of factors. Of course there’s economic growth, but it’s also due to increased brand awareness, the rise in mobile payments, and a growing taste for quality.The luxury market is on the up, particularly in the 18-35 age group, which made $1.5 trillion worth of purchases in 2016 – up from $700bn in 2011.China is an exciting place to watch right now. We started there as a private members’ concierge business, and now 20 per cent of our global membership is in Asia. We are seeing a big increase in Chinese high-net-worth customers looking for lifestyle services – and their tastes are changing.While tangible luxury products are still the driving force behind growth, we are seeing a more thoughtful approach to luxury spending among the emergent Chinese middle-class as their wealth continues to rise. Share They are increasingly looking for more than just well-known brands; they want meaningful experiences where they can learn about the history of a brand and be educated about it.They also want what others can’t have. One of our biggest growth areas is bypassing waiting lists for luxury goods that never hit the market, and sourcing rare gifts.Purchasing power in China is increasing rapidly, and there is a taste for bespoke and personalised items to set them apart from the “collective”. Along with an improved standard of living comes an increased awareness of brands, and this has also influenced sales.I have seen more and more brands hosting catwalk shows or using celebrity endorsements and releasing limited edition items – for example Miu Miu, Tommy Hilfiger and Michael Kors, which partnered with Chinese actress Yang Mi to launch a limited edition purse.High-end fashion, luxury, cars and jewellery are all highly covetable, so we will start to see more retailers in this sphere launching physical stores and e-commerce sites in the next few years. As many companies experience a slowdown in China, luxury brands are surely smiling as they look at their sales performance.Last week, LVMH – the world’s largest luxury group, which includes brands like Louis Vuitton, Dior, and Moet & Chandon – surprised everyone by announcing an increase in sales during its fourth quarter earnings, and an 18 per cent increase in net profit on 2017. whatsapp Friday 8 February 2019 8:16 amlast_img read more