Europe
Headlines
Pinel Advocates expands further
Pinel Advocates is delighted to announce the recent addition of two new recruits to its Corporate and Commercial team. Both Roisin Hocking and Adam Diamond have joined as a Legal Assistants and will undertake a range of corporate and commercial work. Roisin joins Pinel Advocates from a larger Jersey law firm and brings employment and probate experience...
GGI (Geneva International Group) appoints Stefano Loconte as Global Chairperson of the Trust & Estate Planning Practice Group
GGI Geneva Group International, a worldwide alliance of well-established and experienced accounting, consulting and law firms that are committed to providing clients with specialist solutions for their international business requirements, has appointed Mr. Stefano Loconte (pictured) as Global Chairperson of the Trust & Estate Planning Practice...
Experienced Banking and Finance Lawyer Phillip Slater Joins Dorsey in London
International law firm Dorsey & Whitney LLP is delighted to announce that Phil Slater has joined the London office of Dorsey & Whitney as a Banking & Finance partner. Phil brings with him an expanse of expertise in relation to corporate debt finance across a broad range of sectors and financing disciplines having represented corporates...
European corporate and investment banks are gambling with their future
European corporate and investment banks (CIBs) have lost ground in recent years to American competitors. Beyond cyclical factors, this is due to an increasingly restrictive regulatory environment, the delay in banks restructuring and digitalizing their activities, as well as the rise of alternative financing. The European consulting firm Eurogroup...
Innovation boosts Europe's lead as global investment destination
78% of investors expect increased investment in Europe over next five yearsEurope’s perceived stability and commitment to sustainability declines Europe’s attractiveness as an investment destination is on the rise compared to 2017, as the majority of global investors are more likely to invest in both the EU and the UK after Brexit, according...
Finance
What China talks about when it talks about stimulus
THE CAREER of China’s biggest property tycoon can be divided into two stages. Xu Jiayin started slowly, focusing on Guangzhou, a southern city. Then came the global financial crisis and the government’s response, a giant economic stimulus, launched a decade ago this month. For Mr Xu it was a signal to become far bolder. His company, Evergrande,...
The oil price swings dramatically
THE OIL price was supposed to be soaring around now. With American sanctions against Iran taking effect earlier this month, exports from that country, the world’s fourth-largest producer of crude oil last year, were expected to shrink to close to zero. In anticipation the price of Brent crude, the international benchmark, went above $86...
Superstar cities have a big advantage in attracting high-paying jobs
IN THE END, Amazon disappointed everyone. A year ago the e-commerce giant said it would open a second headquarters, and solicited bids from cities keen on the 50,000 new jobs and $5bn in investment it would bring. The gambit might have produced a fascinating experiment in urban development, and a departure from the concentration of top tech firms...
Should investors diversify away from America?
IN THE MID-1980S Carol Goland spent two years in the Andes. The subsistence farmers she studied in Cuyo Cuyo, in Peru, planted as many as 20 fields scattered around the mountain. They used up precious calories going back and forth between each field. Yet on closer inspection, this pattern had a logic to it. Crop yields varied widely from field...
A study measures the cost of lack of competition
What’s Italian for sticker shock? THAT COMPETITION keeps prices down is well known. But it is hard to measure by just how much, because prices vary for all sorts of reasons, from differences in labour costs and rents to taxes. Rising to the challenge is a new paper in The Economic Journal by Giacomo Calzolari, Andrea Ichino, Francesco Manaresi...
Legal
67% of law firms say skills shortages threaten growth
Despite the ongoing environment of geopolitical uncertainty, UK law firms remain optimistic about their growth prospects. That’s according to new research from specialist recruiter, Clayton Legal , which reveals that 66% of firms are looking to increase headcount over the next twelve months to contend with increased demand for their services. The...
Seedrs launches programme for financial intermediaries following record breaking Q3
The programme introduces wealthy individuals to early stage equity deals on Seedrs via their accountants, brokers and financial consultantsOver £3.6bn was invested into equity deals in the UK last year showing an increased appetite for startup investing45% of angels interviewed by the UKBAA about their early stage equity investments reported...
Lamont Pridmore warn high earners about HMRC raids
Higher rate taxpayers have been warned by leading Cumbrian accountants Lamont Pridmore to be vigilant over their tax affairs.The warning comes after new data from HM Revenue & Customs (HMRC) shows that its Affluent Unit took an additional £438 million pounds of high earners.Off the back of this success the Unit, which investigates the tax affairs of...
A Legal Perspective on the Government’s Brexit White Paper
Following pressure from sections of Parliament and the public, Theresa May’s government has published a 77-page white paper document to set out a strategy for leaving the EU. But what does it add to what we already know? Stephen Chater, a solicitor at Postlethwate Solicitors, member firm of the UK200Group, explains.The UK200Group is the UK’s leading...
32% law firms see private equity as a principal source of external funding
With growing competition from niche firms, law practices are actively seeking targeted acquisitions to scale-up in chosen disciplines. 32% see private equity as a principal source of external funding. Niche law firms seen as greatest source of competition. 59% of firms report a rise in competitive pressure. There is a sharp increase...
Deals
Foresight makes £500,000 MEIF investment into Milton Keynes-based mobile payments systems provider Swoopos
Foresight Group LLP (“Foresight”) announces a £500,000 equity investment into Mobile Pay Systems, trading as Swoopos (“Swoopos” or the “Company”) through the Midlands Engine Investment Fund (“MEIF”). Swoopos provides a Mobile Point of Sale (“MPOS”) universal payments system that combines ePOS and cloud-based technology...
Maven Property exits investment in Hotel Indigo Glasgow
Sale of historic landmark building achieves £14.5 million through use of innovative structure Maven Property, the property arm of Maven Capital Partners, (“Maven”), has completed the £14.5 million sale of Hotel Indigo Glasgow (“the Hotel”), a four-star, 94-bedroom hotel with restaurant in the centre of the city, to Heeton Holdings (“Heeton”),...
AnaCap acquires €225m Italian loan portfolios
AnaCap Financial Partners (“AnaCap”), the specialist European financial services private equity firm, today announces its €225m acquisition of Italian NPLs in 2 separate portfolios. A €141m NPL secured portfolio was acquired from Volksbank, primarily comprised of SME loans. The majority of the portfolio is backed by property in...
Orlebar Brown sets sail from Piper to luxury fashion group Chanel
Piper, the UK’s leading specialist investor in consumer brands, has exited its investment in Orlebar Brown, the luxury swim and resort wear brand, to CHANEL SA. The terms of the transaction were not disclosed. Founded in 2007 by Adam Brown and former business partner Julia Simpson-Orlebar, Orlebar Brown pioneered the tailored approach to men’s...
Eos Venture Partners Strategic InsurTech fund makes first two investments
Eos Venture Partners (Eos), the specialist venture capital fund investing in insurance technology (InsurTech), today announced that their debut InsurTech fund, EVP I, has made its first two investments. The fund is one of the first global, strategic InsurTech investment funds targeting early and growth stage investments. The first two investments...
Acq Lite
Curious quokka licks cyclist's pedals in Western Australia
March 9 (UPI) -- A cyclist taking a break in Western Australia captured video of a curious quokka licking the pedals of her bicycle.Shannon Ducker said she was taking a break from cycling on Rottnest Island when the quokka approached her bicycle and started licking the pedals.Ducker captured video as the apparently hungry animal enjoyed the taste of...
IHOP announces breakfast-themed PancakeWear clothing line
March 9 (UPI) -- Restaurant chain IHOP announced the debut of its breakfast-themed clothing line, PancakeWear, created to benefit a children's charity.The eatery announced it will soon be offering onesies, loungepants and socks in adult and child sizes featuring breakfast-themed prints."The ultra-comfy PancakeWear by IHOP collection is the perfect accessory...
Cat credited with rescuing Pennsylvania couple from fire
March 9 (UPI) -- A Pennsylvania couple's pet cat is being hailed as a hero after alerting its owners to a late night fire that started inside their home.The McKeesport Fire Department said the couple were in bed about 1:30 a.m. Friday when their cat alerted them to something amiss inside their home."Fortunately, both were in bed at the time, and the...
Truck loses, drags two wheels on Oregon road
March 9 (UPI) -- A driver on an Oregon road captured video of a semi truck that somehow lost two wheels on a city road and dragged them for several yards.The video, filmed Monday on a street in Cornelius, shows the semi driving on a slow speed while dragging two wheels that somehow became separated from its trailer.The wheels drag behind the truck until...
'Sixth sense' sends woman back into store for winning lottery ticket
March 9 (UPI) -- A South Carolina woman said she owes her $250,000 lottery jackpot to a feeling that caused her to go back inside a store after finishing her shopping.The winner told South Carolina Education Lottery officials she was leaving The Spinx Company in Greenville when she felt compelled to go back inside the store and buy a $250,000 Extra...