Britain Financial News

space sector has immense economic potential, likely to be worth Rs 35,200 crore, about 8% of the global share by 2033. On 23 July, the Finance Minister announced the creation of a dedicated “space fund” worth Rs 1,000 crore, aiming to boost India’s space economy, attract investment and in the global space industry. According to Mr. Pawan Goenka, IN-SPACe Chairman, the fund is expected to be a professionally managed entity that supports space businesses. India has showcased on the global stage its ability to innovate on a frugal budget, fulfilling the Chandrayaan-3 mission at a cost that was merely 3% of the Russian moon missions. This Budget proposal signals the Government’s intent to give a fillip to the Indian space sector by providing financial support, mentorship and guidance to emerging space startups. The establishment of the space fund marks the next step in a successful PPP collaboration aimed at advancing the technology essential for India's success in this field.

A British Columbia legal tech company has raised US$900 million, drawing in new investors Goldman Sachs Asset Management and Silicon Valley’s New Enterprise Associates Inc. and valuing the company — whose backers already include the Ontario Municipal Employees Retirement System (OMERS) — at US$3 billion.

Cuthbert, who was the lead manager of the SVM Continental Europe fund until the end of March 2024 and co-manager of SVM All Europe SRI fund, had worked with SVM since 2006. Prior to joining the SVM, he spent five years with Kempen Capital Management (later rebranded as Van Lanschot Kempen) managing the firm's pan-European equities. UK-domiciled fixed income funds hit by £1.9bn outflows in June Following Cuthbert's departure, Neil Veitch, investment director at River Global, will continue to manage the SVM All Europe SRI fund, along with James Sym. Over the past three years, SVM ...

On Tuesday (23 July), three senior judges in London heard a legal challenge from the regulator over the Upper Tribunal's decision in July last year to rule in favour of the hedge fund and reject the FCA's demand for investor compensation. In December 2021, the UK's financial watchdog said it would fine BlueCrest £40.8m for an alleged conflict of interest, a move that was challenged by the London-based firm.  The FCA considered that, from 1 October 2011 to 31 December 2015, BlueCrest moved portfolio managers from the main client fund to its internal fund and partly replaced them with a...

What do you do when you travel in a chauffeur-driven Bentley but want to be known as the green king

Former UK central banker and ex-Monetary Policy Committee member Sushil Wadhwani has urged the new Labour government to «take advantage of its large majority and push through this change as it would signal that they were serious about entrenching price stability».  Writing in a Centre for Economic Policy Research paper on Monday (22 July), Wadhwani suggested that goal independence could be «a game changer».  BoE chief economist Huw Pill dents hopes for a rate cut due to 'persistent' inflation Unlike other major central banks such as the Federal Reserve and the ECB, the BoE does not...

currencies touched multi-week lows on Wednesday tracking weakness in Chinese demand, while the yen has surged as short-sellers bail out ahead of a central bank meeting. Purchasing managers' index figures will be particularly watched in Europe later in the session to see whether they support bets on two European rate cuts by the end of January.

US President Joe Biden to end his campaign became public, the internet has been flooded with memes focusing on Vice-President Kamala Harris. It is slime green, clubbing and self-awareness that is dominating the US pop culture and it is now entered the political arena. One such production is the ‘Brat summer’.

Brad Pitt and Tom Cruise, have been at odds for more than thirty years. When «Interview with the Vampire,» a 1994 movie, was being made, their long-standing competition started, and it soon became clear where they differed. Tom Cruise was very formal and friendly, whilst Brad Pitt was more quiet. Brad Pitt noted that their personalities were complete opposites. An industry source revealed that the enmity between them was so strong that it hindered them from collaborating after the confrontation, which caused a great deal of anxiety on set. The industry is aware of their mutual hate even if they have made an effort to hide it from the public, as per the reports of The Mirror.

reform' has an interesting backstory. Originating from the Latin 'reformare' — 'to form again' — it essentially means giving things a makeover. It entered English through Old French in the 14th c, initially focused on moral and religious matters, and took the spotlight during the 16th c. Protestant Reformation. Nowadays, 'reform' is our go-to for fixing political, economic, social and educational systems because things break, get outdated or just mess up.

Kamala Harris has now emerged as the most talked about politician of the United States after being endorsed for President by recently resigned Democratic nominee Joe Biden. She has also amassed the support of a majority of the Democratic Party, who are vouching for her to counter the very formidable Donald Trump, who already has high approval ratings for the US Presidential Elections this year.

As part of the new role, Morrell will work closely with Helen Watson, deputy CEO of Rothschild & Co's UK Wealth Management, to strengthen the firm's long-term strategic succession planning, management stability and meet client demand. Morrell's promotion as deputy CEO follows seven years spent with the company as head of front office, having joined Rothschild & Co in 2010 as a client adviser. Prior to joining Rothschild, Morrell worked for Morgan Stanley for more than five years between 2004 and 2010, initially starting as an investment analyst before being promoted to associate in 20...

According to interactive investor's first edition of its Top 50 Fund index, nearly one in three funds in the index invest in global shares. These included names such as Scottish Mortgage, Fundsmith Equity or HSBC FTSE All World index funds.  The US market ranked second in terms of popularity, with seven funds featuring among the 50 listed. Meanwhile, the UK had only three funds included by ii, while India had two and Europe and Asia Pacific one each. Deep Dive: Investors and managers diverge on cash balances amid high interest rates In addition, six out of the top ten funds were pa...

Legal tech company Clio said on Tuesday it had raised US$900 million in an investment round led by venture capital firm New Enterprise Associates (NEA), in one of the largest fundraises by a Canadian startup.

Rotterdam’s police have played a crucial role in dismantling an extensive “pig butchering” scam, a fraud operation preying on victims via dating and social media platforms before siphoning off their savings.

BBC director-general Tim Davie on Tuesday revealed all details pertaining to the show's future.

ad-free plan will replace Netflix's Basic ad-free option, which will be phased out in the US and France. As a result, customers will have to pick between the two. This move is in line with Netflix's last one, which ended the Basic plan for new users in the summer of last year and later for current users in the UK and Canada. Uncertainty surrounds whether members would be automatically transferred to an alternative plan, although a spokeswoman stated that impacted users have been alerted and have 30 days to switch plans, as per the reports of Microsoft Start News.

BBC is to axe 500 jobs over the next 20 months in a bid to save £200 million ($258 million) and become a «leaner, more agile organisation,» the British public service broadcaster announced Tuesday.

According to Morningstar's UK Fund Flows study, June's heavy outflows from fixed income strategies came on the back of high redemption levels for the asset class since the beginning of the year, reaching a total of over £5.7bn in the first six months of 2024. Overall, outflows from UK-domiciled funds reached £3bn last month, with total redemptions since 2022 in UK-domiciled funds reaching £77bn. In June, UK Large-Cap Equity funds added to this total, experiencing more than £2bn in outflows for the month. Giovanni Cafaro, research analyst at Morningstar, said the latest figures fol...

The Telegraph report, citing Dr Rachel Ann Hauser-Davis, a British scientist and member of the research team said the results showed “chronic exposure due to human use of cocaine in Rio de Janeiro and the discharge of human urine and faeces by sewage outfalls, as well as from illegal labs."She also told The Telegraph that there usually aren't many bales of coke dumped or lost at sea in Rio de Janeiro, unlike in Mexico and Florida.Dr Rachel said the cocaine was probably harmful to the health of the animals, however, it is not known if it affected their behaviour, rendering them more aggressive and unpredictable or making feeding frenzies more likely.“This may be the case, as cocaine targets the brain, and hyperactive and erratic behaviour has been noted in other animals. It’s a possibility and further studies are required," said Dr Enrico Mendes Saggioro, an ecotoxicologist from the Oswaldo Cruz Institute.One of the ways cocaine may damage the health of sharks, according to the experts, is by affecting their eyesight, affecting their capacity to hunt.“You might start to see lower fecundity and growth rates," Dr Tracy Fanara, an expert in ecotoxicology and environmental engineering from the University of Florida, told The Telegraph.