The UK-based technology firms mobilized $3.6 billion (£2.5 billion) funds from venture capitalists (VC) in 2015 and this is 70 percent higher than $2.1 billion in 2014. London technology companies accounted for more than half of the mobilized VC funds. The increasing investor appetite for technology startups and fintech firms has been the main factor that propelled the VC funding.
United Kingdom
Researchers Build QUIPP, Smartphone App To Identify Premature Birth Risk
Researchers from King's College in London have successfully developed an app to predict risk of premature birth. The app has been tested in two studies and is now available at Apple's App Store.
Nickel, copper gain, as Chinese equity market performs better
Nickel and copper lead the gains on the London Metal Exchange as Chinese equity market gained, which calmed concerns over financial turmoil in the world’s second largest economy.
London’s Economy Leads UK, Noting A Positive Growth Of The Country Economy Recovery
London has reached the fastest growth during, leaving the other regions behind. The growth is spotted to be the result of finance, real estate, and service sectors in the region. This positive development has shown more hopes for the country economy recovery that has struggled since its financial crisis years ago.
NuScale submits design to US authorities to build small nuclear plants in UK by 2025
Fluor Corp.’s NuScale unit will build small modular nuclear plants in the UK, which ambitions to have these facilities by 2025. The firm plans to submit a 50-megawatt reactor design to the U.S. nuclear authorities by the end of 2016.
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Standard & Poor's (S&P) has downgraded credit rating of Tata Steel's bonds. S&P cited reasons such as the poor operating performance and high leverage at Tata Steel for downgrading. Indian steel industry is suffering from glut in production and surging imports.
Bank of England has been keeping its interest rates at the lowest point at 0.5% since March 2009. However, some signals of the interest rate upsurge will be a shock to some people in Britain.
UK's second largest retailer J Sainsbury Plc registered revenues for the third quarter as per the forecasts. The total retail sales of Sainsbury were up 0.8 percent excluding fuel and were down 0.7 percent including fuel as against the analysts' average forecast of 0.6 percent decline for the quarter. However, Sainsbury has surpassed the forests for Christmas sales.
The weakening business confidence coupled with global economic challenges is impacting the UK manufacturing sector in more negative way. Despite odds forecast for 2016, majority of manufacturing firms in the UK are going ahead with their investment plan for technology and innovation. About 44 percent of UK companies participated in a survey expressed their concerns about challenging 2016 year.
US Treasuries dropped for the first time in seven days as China concerns eased. The unexpected depreciation of Yuan by China's central bank sent shock waves across the global markets. This triggered selloff in equities and forced investors towards safe havens such as treasuries and gold.
Researchers from the University of Lincoln in the United Kingdom will examine fingerprints and palm prints of people who lived in the 12th to the 14th centuries through a project called Imprint.
UK’s chief medical officers lowered further the recommended drinking levels to only 14 units for men and women as it found that any amount of increase in alcohol consumption leads to increase in cancer risk.
The nine states that possess nuclear weapons are the United States, Russia, the United Kingdom, France, India, China, Pakistan, Israel, and North Korea. Over 1,800 of these nuclear weapons are under high operational alert.
The pound drops to its weakest since June 2010 by 0.4 percent to only $1.4575 9 am January 7 London, as Chancellor of the Exchequer George Osborne warns of threats abroad against the British economy in 2016.
