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.
United Kingdom
Natural HR Software Startup Received Early Stage Investment from Midven
The Birmingham-based company focused on developing cloud-based HR software. An area which rarely attracted software startups.
Zoopla sets new record as 58mln homebuyers visits in January 2016
British property website Zoopla has set a new record in attracting more number of visitors to its webpage. About 58 million visits to Zoopla website and app by homebuyers was recorded in January 2016. Zoopla has announced better than forecast results for 2015.
UK's Finance Minister pushes G20 against Brexit
UK's Finance Minister George Osborne may take leverage of Group of 20 to support Britain to stay with the European Union (EU). G20 meeting is being held on 26-27 February in Shanghai. Brexit may be a major outcome at the G20 finance ministers meeting.
UK's GDP growth rate remains at 0.5%; IMF cautions about global growth
UK's GDP growth rate was remained unchanged at 0.5 percent for the fourth quarter of 2015. Services sector contributed the most to the GDP growth. Meanwhile, International Monetary Fund (IMF) has cautioned about weakening global growth.
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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.
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.
Shares of BHP Billiton, a mining and petroleum firm in Melbourne, started chasing oil prices very closely as they entered into the horrible downturn period in the oil industry. Analysts expect the miner to rally by nearly 50% in the coming months.
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.
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.
Britain is losing its faith in the chancellor George Osborne as he is readying for the annual budget in the midst of global challenges facing the nation's economy. Poor economic conditions prevented the chancellor from achieving his election targets.
