Connect with us

Top Stories

PPRO GROUP LISTED AS ONE OF EUROPE’S 50 FUTURE UNICORNS IN THE TECH TOUR GROWTH 50 

Published

on

PPRO GROUP LISTED AS ONE OF EUROPE’S 50 FUTURE UNICORNS IN THE TECH TOUR GROWTH 50 

Global payment experts, PPRO Group has been included in the 2017 Tech Tour Growth 50, an exciting initiative set to shine a light on the next generation of Europe’s fastest growth equality backed tech businesses.

PPRO Group, the cross-border e-payment specialists, has successfully grown from a start-up to one of the fastest growing leaders in the Fintech industry, by growing revenue ten-fold in the last five years. PPRO Group has been helping to provide innovation in the rapidly evolving global e-payments landscape, securing its place on the list.

The selection committee, composed of 18 international venture capital firms, advisers and experts judged the companies based on their achievement, impact and momentum. The CEOs of the Tech Tour Growth 50 companies will gather at the annual Tech Tour Growth Forum in Geneva from March 30-31, where two companies will be announced as winners of the 2017 Tech Tour Growth Award and Tech Tour Innovation Award.

“The European tech market has become highly competitive in recent years. As a dynamic, agile and rapidly growing Fintech company, PPRO Group has a talented team of payment experts, as well as partnerships with industry leading companies like Vantiv, AliExpress and others which have driven us and enabled the company to be recognised through initiatives such as the Tech Tour Growth 50,” comments Simon Black, CEO at PPRO Group.

William Stevens, Managing Director, Tech Tour, commented “The billion dollar ‘unicorn’ successes that grab our attention are just the tip of the iceberg. The Tech Tour Growth 50 puts the next layer of Europe’s high-tech, high-growth businesses in the limelight. These are Europe’s future potential unicorns – the companies with the most promise to have a global impact.”

Tech Tour, a platform that facilitates high-tech growth companies to develop strategic relations with investors, together with Silverpeak Investment Bank and in conjunction with a selection committee of international investors, have researched and evaluated over 275 European private tech companies at a sub-one billion US dollar valuation to identify these future Unicorns.

Top Stories

UK retailers see sharp fall in sales and mounting job losses, CBI says

Published

on

UK retailers see sharp fall in sales and mounting job losses, CBI says 1

LONDON (Reuters) – British retail sales fell in the year to February as stores cut jobs at a rapid rate, with only supermarkets reporting any growth during the latest COVID-19 lockdown, a survey showed on Thursday.

The Confederation of British Industry’s gauge of retail sales stood at -45, up only slightly from January’s eight-month low of -50. The measure points to falling sales and is below the consensus forecast of -38 in a Reuters poll of economists.

Retailers’ expectations for March – when non-essential shops will remain closed to the public as part of lockdown measures – fell to -62, the lowest since the series began in 1983.

In another sign of a changing consumer habits during lockdown, the survey’s gauge of internet retail sales hit a new record high.

“With lockdown measures still in place, trading conditions remain extremely difficult for retailers,” said Ben Jones, principal economist at the CBI.

“Record growth in internet shopping suggests that retailers’ investments in on-line platforms and click-and-collect services may be paying off, but the re-opening of the sector can’t come soon enough to protect jobs and breathe life back into the sector.”

Job losses among retailers accelerated according to a quarterly question in the survey. For the distribution sector as a whole, which includes wholesalers and car dealers, employment fell at a record rate, the CBI survey showed.

(Reporting by Andy Bruce, editing by David Milliken)

Continue Reading

Top Stories

Holiday bookings soar as Britons hope for travel restart

Published

on

Holiday bookings soar as Britons hope for travel restart 2

By Sarah Young

LONDON (Reuters) – International holiday bookings surged by as much as 600% after Britain laid out plans to gradually relax coronavirus restrictions, giving battered airlines and tour operators hope that a bumper summer could come to their rescue.

EasyJet said flight bookings from Britain jumped over 300% and holiday bookings surged by more than 600% week on week after the government indicated on Monday that travel could restart from mid-May, while holiday company TUI UK said that its holiday bookings surged 500%.

This summer is make-or-break for many airlines and holiday companies which are struggling to survive with close to a year of almost no revenue due to pandemic restrictions. Without it many will need extra funds after burning through cash reserves.

UK-listed travel stocks were buoyed after new bookings flooded in on Monday evening and Tuesday despite ongoing uncertainty over exactly how and when international routes can reopen.

Shares in easyJet jumped 9%, while British Airways-owner IAG traded up 6%, TUI and Jet2 both jumped 6% and Ryanair was 3% higher.

While British tourists are some of the biggest spenders in Europe, the presence of a more infectious variant of coronavirus in the UK could alarm some countries. France and Spain have shut their borders to most UK travellers due to variants.

UK holidaymakers will know more on April 12 when the government publishes a travel review. It has said that a lockdown ban on most international travel will stay until at least May 17.

That should give airlines time to plan their summer schedule, a process which takes months.

EasyJet said trips from the UK to beach destinations such as Malaga, Alicante and Palma in Spain, Faro in Portugal and Crete, Greece, were the most popular destinations with holidaymakers keenest to travel in August. July and September were the next most popular months.

TUI said destinations in Greece, Spain and Turkey were the most booked overnight, with people opting to go from July onwards.

Britain’s route back to normality is helped by rapid progress with its vaccine plan. Over 17.7 million people, or a quarter of the population, have already had a first dose of the jab. The government is also considering options for vaccine passports.

The airlines and travel companies hope such progress will mean that from May 17 the UK will end its holiday ban and remove a 10-day quarantine requirement, a big deterrent for holidaymakers, and some of its COVID-19 testing rules.

(Reporting by Sarah Young, Editing by Paul Sandle and Susan Fenton)

Continue Reading

Top Stories

Concern over rich-poor divide seen on the increase during pandemic

Published

on

Concern over rich-poor divide seen on the increase during pandemic 3

By Matthew Lavietes

NEW YORK (Thomson Reuters Foundation) – People have become more concerned about the gap between rich and poor during the coronavirus pandemic, especially the young, the authors of a new global study said on Tuesday, urging governments to take steps to redress the balance.

More than 8,700 people in 24 nations were surveyed at the start and end of 2020 by the Glocalities market research agency, with the findings showing an increase in the share of respondents who thought income differences should be reduced.

As the coronavirus pummeled the global economy last year, the survey also found a 10-point rise in the percentage who said decent work and economic growth were the most important means of improving quality of life.

“It has slapped people in the face and made them realize that things are not going well,” Ronald Inglehart, one of the lead authors of the study, told the Thomson Reuters Foundation, referring to the pandemic.

“We need government intervention on a larger scale. We don’t want a state-run economy, but some of the resources need to be reallocated to balance off this powerful trend.”

Policies that will create “good-paying jobs” in the fields of child care, environmental protection and infrastructure would help address mounting frustration over income inequality Inglehart added.

Young people are particularly concerned about income disparities, the study found.

A third of respondents aged between 18 and 34 said they were more concerned about income inequality than unemployment or economic growth at the end of 2020, up from 29% at the start of the year – before the coronavirus had spread around the world.

“Feelings of being upset, being afraid, feeling let down, feeling like ‘I have no prospective anymore’ are on the rise,” said Martijn Lampert, who also co-authored the study.

“So this requires very wise and just government interventions to channel this unrest in a positive way.”

Inglehart said he sees evidence of such sentiments among the students he teaches at the University of Michigan.

“The job market is dismal … My best students, the stars, they’re finding jobs at a lower level than they’re anticipating. And the ones who aren’t stars are getting nothing,” he said.

The global economy is seen shrinking 3.5% last year, according to the latest estimates by the International Monetary Fund, and numerous studies have shown how the global health crisis has exacerbated economic inequalities.

As a result of the pandemic, the number of people living in poverty has doubled to more than 500 million, according to a report issued last month by the charity Oxfam.

Meanwhile, the collective wealth of the world’s billionaires rose $3.9 trillion between March and December 2020 to reach $11.95 trillion, the report said.

(Reporting by Matthew Lavietes; Editing by Helen Popper; Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers the lives of people around the world who struggle to live freely or fairly. Visit http://news.trust.org)

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call For Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Articles

Stocks struggle as tech slide erases commodities surge 4 Stocks struggle as tech slide erases commodities surge 5
Trading10 mins ago

Stocks struggle as tech slide erases commodities surge

By Danilo Masoni MILAN (Reuters) – World shares struggled on Tuesday as a rally in commodity-related assets gave in to...

G4S urges shareholders to accept Allied deal as bid battle ends 6 G4S urges shareholders to accept Allied deal as bid battle ends 7
Trading41 mins ago

G4S urges shareholders to accept Allied deal as bid battle ends

By Yadarisa Shabong (Reuters) – British private security group G4S on Tuesday urged shareholders to accept Allied Universal’s 3.8 billion...

UK retailers see sharp fall in sales and mounting job losses, CBI says 8 UK retailers see sharp fall in sales and mounting job losses, CBI says 9
Top Stories46 mins ago

UK retailers see sharp fall in sales and mounting job losses, CBI says

LONDON (Reuters) – British retail sales fell in the year to February as stores cut jobs at a rapid rate,...

Tesla shares set to skid into the red for the year 10 Tesla shares set to skid into the red for the year 11
Business52 mins ago

Tesla shares set to skid into the red for the year

LONDON (Reuters) – Shares in Tesla were set to plunge into the red for the year on Tuesday, hit by...

Holiday bookings soar as Britons hope for travel restart 13 Holiday bookings soar as Britons hope for travel restart 14
Top Stories2 hours ago

Holiday bookings soar as Britons hope for travel restart

By Sarah Young LONDON (Reuters) – International holiday bookings surged by as much as 600% after Britain laid out plans...

Commodities rally, stocks steady, yields off highs 15 Commodities rally, stocks steady, yields off highs 16
Trading2 hours ago

Commodities rally, stocks steady, yields off highs

By Danilo Masoni and Anshuman Daga MILAN/SINGAPORE (Reuters) – Optimism about the economic outlook pushed commodity prices to new highs...

Concern over rich-poor divide seen on the increase during pandemic 17 Concern over rich-poor divide seen on the increase during pandemic 18
Top Stories2 hours ago

Concern over rich-poor divide seen on the increase during pandemic

By Matthew Lavietes NEW YORK (Thomson Reuters Foundation) – People have become more concerned about the gap between rich and...

Bitcoin tumbles 17% as doubts grow over valuations 19 Bitcoin tumbles 17% as doubts grow over valuations 20
Finance2 hours ago

Bitcoin tumbles 17% as doubts grow over valuations

By Tom Wilson and Tom Westbrook LONDON/SINGAPORE (Reuters) – Bitcoin tumbled 17% on Tuesday, sparking a sell-off across cryptocurrency markets...

Sterling climbs towards $1.41 as PM sets roadmap to easing lockdown 21 Sterling climbs towards $1.41 as PM sets roadmap to easing lockdown 22
Trading2 hours ago

Sterling climbs towards $1.41 as PM sets roadmap to easing lockdown

By Joice Alves LONDON (Reuters) – Sterling edged higher on Tuesday against both the dollar and the euro after Prime...

H&M, IKEA and Stora Enso backed TreeToTextile builds sustainable fibre demo plant 23 H&M, IKEA and Stora Enso backed TreeToTextile builds sustainable fibre demo plant 24
Business3 hours ago

H&M, IKEA and Stora Enso backed TreeToTextile builds sustainable fibre demo plant

STOCKHOLM (Reuters) – A venture part-owned by Finnish forestry group Stora Enso, Sweden’s H&M and IKEA said on Tuesday it...

Newsletters with Secrets & Analysis. Subscribe Now