Dubai and Abu Dhabi in the United Arab Emirates (UAE) could soon join London, New York and Hong Kong in the world’s top 10 global financial centre rankings, thanks to new government laws affecting expatriates.

This is the bold message from Nigel Green, the founder and CEO of deVere Group. The observation comes as the UAE cabinet on Sunday approved new legislation that allows expatriates to remain in the country long after they retire.

Mr Green affirms: “Dubai and Abu Dhabi are perennially popular destinations for ambitious expatriates looking to embark upon or further their careers because of the incredible possibilities offered in terms of finance, trade and commerce, plus the famous ‘can do’ attitude and the low tax environment in these destinations.

“But they will become even more attractive locations for overseas talent thanks to the government passing these new laws that allow expats to stay on in the UAE long after they retire.”

He continues: “With Dubai and Abu Dhabi becoming ever-more appealing relocation destinations, recruiting more top talent here will inevitably become easier for companies that are based in these emirates.

“In addition, I believe that it will help drive further driving confidence in the UAE as a place for overseas firms to do business and invest.”

Mr Green goes on say: “Dubai is already recognised as one of the most powerful financial centres in the world. But this new legislation will not only galvanise this position, but significantly strengthen it.

“This confirms my view that over the next decade, we can expect it to become one of the world’s top ten international financial hubs to rival and more aggressively compete with stalwarts such as London, New York and Hong Kong.

“Dubai and Abu Dhabi are helped in this regard by having an independent regulator, an independent judicial system, a global financial exchange, a stable, pro-business government, a high proposition of high net worth individuals, a dynamic business community, world-class infrastructure and telecommunications, English as its defacto business language, and their enviable geographical location and time zone.”

The deVere CEO concludes: “We fully welcome this progressive policy shift by the UAE government. It will encourage even more people to come, stay and invest for the long-term in the country, which will further boost its sustainable economic growth.”

Earlier this year, Dubai was revealed as the number one city for graduates seeking a career in financial services, whilst London didn’t make the top ten, in an annual deVere Group survey.

Of the findings at the time, Mr Green noted: “This survey highlights that the next generation of financial services professionals are open to look beyond the traditional and more established global financial hubs.

“It underscores how cities like Dubai, Barcelona and Cape Town are increasingly important international financial centres.

“The fact that Barcelona this year is second-placed and London – currently the world’s most important global financial hub – does not make the top ten is interesting.

“Could it be that the respondents believe mainland Europe’s international financial centres offer more opportunities than post-Brexit London?”

(Source: deVere Group)

The United Kingdom, specifically London, has built a position as Europe’s primary financial hub, bridging the gap between the European Union and Asia, the United States and other regions. After Brexit comes into effect in March 2019, this once unassailable position will no longer be certain if it becomes more difficult for banks and other financial enterprises to provide services to EU clients due to a loss of ‘passporting’ rights – if no contingency plans are made.

Many financial institutions are not waiting to see how Brexit plays out and are seriously considering – or already planning – to move at least part of their operations to remaining EU countries in order to be prepared for any fallout from Brexit. Hiring rates in London’s financial sector have already halved, according to LinkedIn – reportedly due to the uncertainty surrounding Brexit and how it will impact the industry. Research from EY shows almost a third of banks and asset managers in the City of London confirmed that they are looking at moving staff to locations such as Dublin, Amsterdam and Frankfurt.

As a result, teams will be scattered across numerous time-zones and locations, with more employees likely to be working from remote locations, including their homes. Connecting a relocated and dispersed workforce is no easy task, and if the process is not well managed, it can cause serious disruption to day-to-day activities. Banking and financial services organisations need to have the right tools in place to ensure far-flung teams can communicate effectively and implement a standardised and coordinated way of working so that employees do not have to flit between numerous applications to complete tasks, collaborate on projects, monitor progress, manage resourcing and track deadlines. Fortunately, disruption can be minimised by utilising tools that nurture joined working environments despite geographical barriers and offer structure that keeps employees at different locations on the same page – in real time.

The challenges of collaborating across borders

Remote working is not new phenomenon – it’s widespread and a hugely popular way of working –

But many businesses are still trying to overcome the barriers it presents to communication and collaboration. Clarizen’s own research has shown that some of the most prevalent issues workers struggle with when working remotely include:

• Struggling to communicate with colleagues;
• Difficulty to remain efficient;
• Limited access to up-to-date documents;
• Finding it difficult to prioritise.

The banking and finance industry needs to ensure that these issues are resolved before Brexit takes place. Otherwise, the serious and negative impact they have on effective collaboration, productivity and business profitability.  Having to relocate operations is just one area of business that organisations need to navigate as the UK continues its withdrawal from the EU.

Internal company restructuring, product and services analysis and engagement planning are also elements businesses have to plan and execute, which is why it’s so important that teams have tools that facilitate a coordinated work environment during this tumultuous period.

Equipping employees with the tools to succeed

During Brexit and beyond, banking and financial organisations need to ensure employees are equipped with tools that help promote coordination between dispersed teams, while maximizing efficiency. Recent research from Clarizen found that almost three quarters of respondents said that what they specifically need to boost communication and collaboration among employees is technology, structure and support that enables them to overcome geographical barriers and the gap between time zones to increase productivity, ensure management oversight and foster flexibility.

What can help achieve this is a cloud-based platform that enables real-time collaboration across locations and empowers teams to coordinate workflow, track progress, align goals, allocate budget and meet deadlines from any device and location.

Overcoming communication overload

Ahead of Brexit, businesses need to ensure that they pick the right tool to maximize productive interactions between employees. Some businesses have previously used social media apps to facilitate easy and frequent employee discussion – such as WhatsApp and Facebook – in the belief they would streamline communications between workers and reduce long email chains that cause frustration and confusion. Unfortunately, such applications have often only served to encourage non-work chat and oversharing of irrelevant information that doesn’t bring employees any closer to meeting business objectives.

In a bid to become more focused in their approach, businesses have been turning to business-focussed communication apps. A recent global survey showed that, in the past year, companies deployed one or more of the following apps to improve productivity: Skype (39%), Microsoft Teams (14%), Google Hangouts (8%) and Slack (7%). Yet, even then, efforts to boost productivity proved fruitless as they merely became a place for office banter and overloaded people with numerous notifications and interruptions, which negatively impacts productivity.

It’s a modern workplace malady that has been dubbed ‘communication overload’, which is symptomized by workers struggling under the weight of clusters of unfocused messages, meeting requests and unnecessary interruptions. Clarizen’s research indicates that, in the end, apps that fail to directly link communication to business activities, aims and status updates actually hamper collaboration, effectiveness and efficiency. The survey showed that 81% of respondents said that, despite taking steps to improve communication among employees, they still lack a way to keep projects on track and provide management oversight – and only 16% of the companies surveyed said productivity levels were ‘excellent’ – while a nearly quarter said they were ‘just OK’ or ‘we need help’.

Looking ahead to a post-Brexit world

Brexit presents the banking and finance industry with a number of challenges that could put successful collaboration – and ultimately revenues and profits – at risk. However, by employing tools and methods that encourage an environment that nurtures a truly collaborative environment – where communication is in a business context and reporting in real time – the sector can enhance productivity and business agility, taking some of the sting out of any staff redeployments necessitated by Brexit. Even though it’s not clear what shape Brexit will take, there is no reason businesses in the banking and finance sector cannot minimise disruption and its potential costs by providing their employees with an approach and the tools they need to succeed during Brexit and beyond.

Website: https://www.clarizen.com/

By Katina Hristova

Good Hotel is not your typical London hotel - and I mean this in the best way possible. Moored by the Royal Victoria Docks and housed in a floating platform, the hotel stands out not only from the neighbouring buildings, but from any other hotel in England’s capital. And not only because it looks differently. Dedicated to helping people, Good Hotel is a unique example of philanthropic hospitality. Recognised with a REBEL Award for greatest innovation/disruption in the industry, the hotel offers employment and training to unemployed people in the community. But the reasons to stay at Good Hotel don't stop here - laid-back chic industrial design and furnishings, a hip restaurant, rooms boasting magnificent Thames views, a spacious rooftop bar and a general community-focused feel. Whether you’re visiting London for business or pleasure, Good Hotel is an ideal place to come back to after a day of meetings or exploration. 

The General Vibe

Stepping into Good Hotel, you’re greeted with dark ceilings, low-hanging lamps, plants, neon signs and wooden tables that make up the massive living room area, which is where the bar, restaurant and reception are. During the day, the area is filled with people working on their laptops whilst sipping on a coffee, business people headed to one of the meeting rooms on the ground floor or friends having late breakfast. The ambiance is all about minimalism and modern Scandinavian interior details.

Rooms are small and compact and have a nautical cabin feel to them - something that is further enhanced by the aforementioned Thames views. But don't expect to be spending a lot of time in the room - at Good Hotel, the main reason why the living area is so spacious is to encourage the communal spirit of the hotel.

The restaurant is friendly and open, and was busy and buzzing when we visited on a rainy Saturday evening. If the sun’s a-shining, book a table by the expansive windows to make the most of those stupendous views over the Thames. The food is unpretentious, but tasty - simple classics cooked beautifully. Breakfast is a relaxed affair here, with a Continental buffet selection, a range of juices and smoothies and well-made coffees.

The Cause 

Good Hotel Founder Marten Dresen launched the concept in Amsterdam, turning an old detention centre into a chic, modern hotel that gives back to the community. The floating platform was transported over the North Sea to London in October 2016. Aiming to redefine the model of doing business, the hotel employs long-term unemployed people - offering them a fresh start and a future in the hospitality sector. After completing a free training, individuals are offered a three-month contract of employment, followed by endless opportunities for a permanent job in the field. And as if this isn't enough, the hotel also supports kids of low-income families living in the mountain villages around Antigua, Guatemala. Talk about hospitality with a cause.

Website: http://www.goodhotellondon.com/

Penningtons Manches recently revealed that British companies are enjoying an unprecedented period of investment from West Coast-based US firms, with 74 deals contributing to a total value of £1.08 billion in 2017 – the first time Silicon Valley investment into the UK has broken the billion-pound mark.

The new report from Penningtons Manches, Golden Gate to Golden Triangle, finds that software companies take the lion’s share of this investment, benefiting from £2.2 billion in funds since 2011. The number of deals from Silicon Valley into UK firms has increased by 252 per cent over that period.

Many of these companies are based in the UK’s Golden Triangle - between 2011 and 2017, 79% of all US investment into UK firms went to those based in the area that includes London, Oxford and Cambridge.

Life science firms were the second most invested in, taking £472 million from West Coast investors since 2011, with hardware companies and medical tech following with £207 million and £58 million respectively.

West Coast investors may have been involved in more deals, but the research found that East Coast investors have provided more capital. They invested £1.31 billion into UK companies in 2017. Between 2011 and 2017, the total number of deals by East Coast investors into UK companies rose by 48% from 29 to 56.

The investment reflects a wider trend of inward investment into UK companies which is seeing a rise across the board. Despite concerns about Brexit, the report unveils a 62% increase in foreign investment into UK firms in 2017, a third of which were by North American investors and a quarter by those in the United States. Investors from outside of the UK were involved in £5.9 billion worth of deals, a 187% rise on the previous year and eight times the amount in 2011.

James Klein, Partner at Penningtons Manches, comments: “We are delighted that the findings from the report reveal such appetite from West Coast investors to nurture Britain’s most innovative, high potential firms. Penningtons Manches has a long history of working with technology firms, their innovators and their investors, and we launched our San Francisco office to better support our growing client base in the Bay area and to develop meaningful connections between our US clients and the fast-growth tech businesses in the UK that we represent. We look forward to supporting this continued interest from US investors into the future.”

The report also sheds light on the reasons that UK firms seek US investment. From a survey of British firms considering US investment, the top reasons for looking West are:

1. Greater access to US markets – 83% of non US-backed firms cited access to markets as a reason to take US investment;
2. Existing relationship with investor – 48% of UK companies who have already done deals with US-based firms said that their primary driver for taking more US investment was their existing relationship with their investor;
3. Technical expertise of investor – 46% of non US-backed firms firms cited this as a reason for seeking US investment;
4. Favourable investment climate – 44% of non US-backed firms cited this as a reason to take US investment.

The report also finds that Brexit has had a mixed impact on US investment into UK firms. Despite the fact that devaluation of the pound has reportedly created a surge of British exports since Brexit, the research finds that companies that have raised smaller amounts are more likely to believe it has had a beneficial impact: 100% of British companies surveyed who have raised between £100,000 and £500,000 believe currency fluctuations have been beneficial, but only 42% of those raising £1 million - £5 million felt the same.

(Source: Penningtons Manches)

Off to London for a business trip or a week of sightseeing and looking for the perfect hotel that would combine excellent location and unmatched luxury? Belgravia is an area known for its upscale streets, elegant townhouse residences and opulent hotels. It is also the home of The Wellesley Knightsbridge - London’s finest boutique hotel. Situated across the street from Hyde Park Corner tube station, the hotel’s 36 stylish rooms and suites promise Art Deco glamour, contemporary luxury and views overlooking Hyde Park. 

Interior & Character 

Everything in The Wellesley screams opulence - from the bronze doors and the doorman welcoming you in the marble lobby with grandiose crystal chandeliers, through to the impressive service that combines polite charm and easy-going personality. The two restaurants are just as lush - typical traditionally British elegance paired with a sense of indulgence and exclusivity. With its innovative menu, the Jazz Suite is an ideal location for Afternoon Tea, whilst the dimly lit Oval Restaurant’s Italian inspired menu guarantees a truly unforgettable fine dining experience. After dinner, move to the Crystal bar, but don't be fooled by its diminutive size - the drinks list includes an extensive selection of rare whiskies and cognacs, as well as cigars, which cigar enthusiasts can enjoy in the covered terrace. To mark its five-year anniversary, the bar recently launched a brand new cocktail menu that features drinks inspired by its signature offering.

Travel in style during your stay and let The Wellesley's Rolls Royce drive you to your desired destination.

Rooms & Suites 

All rooms and suites in The Wellesley have the decadent Art Deco feel to them that every little detail in the hotel boasts. However, the modern amenities you would expect from a five-star hotel in the heart London are of course all there too - electronically operated curtains, flat screen TVs (even in the bathroom), a tablet and a smart phone, as well as fast Wi-Fi. All bathrooms are marble and are finished off with vintage photos from Vogue and Hermes toiletries.

The Penthouse Suite 

The glamour doesn't end here - for the ultimate Wellesley experience, stay at the penthouse on the sixth and seventh floor, which can be enjoyed as a one, two and four-bedroom option. Part of the penthouse, The Churchill Suite boasts its own winding staircase, rooftop views, a spacious lounge area with feature fireplace, a private Humidor and Decanter Bar, as well as a butler, who will be on hand 24 hours a day.

Double rooms at The Wellesley Knightsbridge start at £329 per night; The Wellesley Penthouse starts from £2765 per night. 

Finance workers on business trips rate speed and efficiency more highly than any other sector, The Heathrow Express Business Travel Insights Report has revealed.

72% of business travellers in the finance sector rated speed of journey as essential when booking flights; 70% rated speed and efficiency through the airport as essential when making flight bookings, while 81% rated speed and efficiency as essential when choosing transfer travel to and from the airport.

While business travellers from every sector, including finance, rated personal safety as the number one priority when booking flights and accommodation and all business travellers rated speed as most important when it came to making airport transfer choices, finance workers rated speed the highest of all across all their business travel choices.

The state of the nation report on business travel, commissioned by Heathrow Express surveyed business travellers from across the UK, Germany and the US and also found that on average, finance sector workers take 2.5 domestic business trips and 2.6 international business trips a year that are, on average, 5.4 nights long.

43% of business travellers in finance book business trip themselves with a further 46% booked by assistants or internal business departments. However, 14% reported that over the past three years there was a growing reliance on business travel agents and travel management companies.

Fraser Brown, Director of Heathrow Express said: “These findings tell us getting from A to B as quickly as possible is key to finance travellers which is why as well as offering excellent customer service and a premium on board experience, Heathrow Express’ focus is to provide a reliable service connecting London and Heathrow in just 15 minutes. This provides customers with the fastest route between central London and Britain’s hub airport.”

(Source: The Heathrow Express)

The London Assembly Economy Committee report ‘Short changed: the financial health of Londoners’, published in January makes a number of recommendations for the Mayor of London, including:

• Work with the financial services industry, schools and colleges to create a young person’s banking charter, with the aim of ensuring all 16-18 year olds has a bank account. The Charter should include a commitment from banks to provide young people with a bank account by default.
• Commission an annual survey of London households on their financial activity, in order to get a better understanding of London’s ‘underbanked’ communities.^[6]
• Hold a Money Advice Week to promote affordable credit and use TfL advertising space to promote credit unions.
• Work with schools, charities and the financial services industry to deliver high quality financial education for young people.

Some of the reports findings include:

• 44% of people in the UK, who are in financial difficulty are between the ages of 18 and 34.
• Around a quarter (27%) of 18 to 30 year olds in London say they are in debt all the time.
• A third of all users of high-cost loans are 18-34 year olds.
• 40% of 18-24 year olds are less confident about managing their money, compared to 22% of the rest of the UK adult population.

Caroline Russell AM, Chair of the Economy Committee, said: “The cost of living has increased in the capital and many Londoners are cut off from accessing affordable financial services, such as loans and credit cards. They have to turn to high-cost credit, like payday lenders to make ends meet.

The Mayor of London has committed to tackle financial exclusion in London. While technology and innovation is one part of the solution, we want the Mayor to show real leadership in improving the financial health of Londoners.

It is absolutely crucial that young people are given the right support in terms of their finances, when they leave school. For many, it is the first time they will be responsible for their own money.

Education and support are key, as actions at this critical stage can have real consequences, in terms of credit ratings and long-term financial health. We strongly urge the Mayor to target his efforts in helping this group specifically.”

(Source: London Assembly Economy Committee)

Written by Katina Hristova

Looking to visit Britain’s capital? Georgian streets, countless cafés and restaurants, convenient location and classy vibes - whether travelling for work or pleasure, London’s fashionable and affluent area of Marylebone is the perfect place for city-breaking. Here is Finance Monthly’s suggestion for the best Marylebone hotel for your trip.

Housed in a converted Edwardian townhouse building, No Ten Manchester Street is an opulent boutique hotel set in the heart of Marylebone and within a walking distance of the shops of Oxford street. Combining truly English charm with a contemporary European vibe, the hotel boasts stylish rooms, a cigar bar and all the comforts you could possibly need to unwind after a long day of work meetings (or shopping).
The décor of the well-appointed 44 bedrooms and suites is elegant, classic and plush, equipped with bespoke Christopher Guy furniture, Richmond Hypnos beds, complimentary Handy phones, Wi-Fi access, 32-inch flatscreen TVs and en-suite bathrooms. Despite its central location, No Ten Mancheter street’s rooms somehow feel miles away from the hustle and bustle of the busy streets – a good night’s sleep guaranteed!
No Ten Manchester Street prides itself to be an official Gold Havana Cigar Specialist, with its Cigars at No 10 bar attracting hotel guests from across the globe. The hotel’s cigar team meticulously maintain the cigar collection, house it in a bespoke D’art humidor, making sure that your chosen cigar will arrive in complete optimum condition – however, the extensive cigar selection will make it difficult to choose only one. The bar is one of London’s finest cigar venues and is a chic place to hang after dinner, whilst sipping on a whisky and indulging in Havanas.

Deluxe rooms at No Ten Manchester Street cost from £148.
www.tenmanchesterstreethotel.com

Last week, the FTSE 100 saw a late upward rush as it closed at a new record high of 7,724.22 points. This was after a fresh record high at the end of the year, spurred by a rally in mining stocks and a healthcare burst. But how will FTSE kick off the year and will it sustain its consistency in record highs throughout 2018?

According to some sources, the success of FTSE in 2018 will largely depend on the outcome of Brexit negotiations, although a rise in the pound may make it a mixed blessing. Below Finance Monthly has heard Your Thoughts, and listed several comments from top industry experts on this matter.

Jordan Hiscott, Chief Trader, ayondo markets:

I believe the FTSE 100 will go above 8,000 in 2018. In part, this is due to the current political turmoil we are experiencing, with the incumbent UK government looking increasingly unstable as each week passes, an economy that seems to be lagging behind Europe on a relative basis, and the ongoing turbulence from Brexit.

However, all these factors are already known to investors and traders and so far, the FTSE has performed well despite these fears. For 2018, I believe the Brexit turmoil will increase dramatically as negotiations with Europe continue down an incredibly fractious route.

Craig Erlam, Senior Market Analyst, OANDA:

Two key factors contributing to the performance of the FTSE this year will be the global economy and movements in the pound. The improving global economic environment was an important driver of equity market performance in 2017 and many expect that to continue in 2018, with some potential headwinds having subsided over the last year. The FTSE 100 contains a large number of stocks that are global facing, rather than domestically reliant, and so the global economy is an important factor in its performance. Stronger economic performance is also typically associated with stronger commodity prices and with the FTSE having large exposure to these stocks, I would expect this to benefit the index.

The global exposure of the index also makes the FTSE sensitive to movements in the pound. After the Brexit vote, the FTSE continued to perform well as a weaker pound was favourable for earnings generated in other currencies. The pound has since gradually recovered in line with positive progress in Brexit negotiations and a more resilient UK economy. Should negotiations continue to make positive progress this may create a headwind for the index and offset some of the gains mentioned above. A negative turn for the negotiations though would likely weaken sterling and provide an additional positive for the index.

While many people are confident about the economy, Brexit negotiations are more uncertain and will have a significant impact on the index’s performance, as we have seen over the last 18 months.

Sophie Kennedy, Head of Research, EQ Investors:

We believe that the synchronised global growth and continued easy monetary policy should support global risk assets going forward. As such, equities should deliver a reasonable return over the next year, which will be the starting point for FTSE performance.

The deviation of FTSE performance around global equity performance will likely be a function of a few factors:

1. The level of sterling is extremely important. Many FTSE companies have very global revenue streams. As such, when sterling falls, foreign earnings are inflated. The level of sterling over the next year is likely to be a function of Brexit-negotiations, the result of which we are not attempting to forecast.
2. There are a number of large commodity producers in the FTSE. Their profits and share prices tend to rise and fall with the price of commodities. The oil market looks more balanced than it has previously and strong global growth should boost global commodity demand. However, we have already had a large rally since the middle of 2017, so upside is likely to be more muted.
3. The trajectory of the UK economy is also relevant, particularly for the smaller capitalisation parts of the market and sectors including housebuilders and utilities. We are not hugely positive on this point, on account of the real income squeeze and continued weak investment environment.

We feel that points 1 and 2 are neutral but point 3 is negative. As such, we expect the FTSE to deliver positive returns but likely underperform the MSCI World.

Tim Sambrook, Professor of Finance, Audencia Business School:

2017 ended the year strongly and is now around all-time highs. The 7% return and 4% dividend gain was better than most had hoped. But will this positive trend continue or will investors worry about the price?

The FTSE has performed strongly, because the global economy has done well. The FTSE is largely a collection of international conglomerates who happen to be based in the UK. The political mess has had little effect on the economic environment (fortunately!).

Strangely, a poor negotiation on Brexit will have a positive effect on the FTSE (if not the UK economy) as a large part of the earnings of the larger companies are overseas. Hence a fall in sterling will lead to a boost in earnings and hence push up the price of the FTSE.

Currently there is little reason to believe that the global economy, and hence corporate earnings, will not continue to do well in 2018. The current PE of the FTSE is not cheap at around the 18-20, and is without doubt above the long-term average of around 15-16. However, this is not excessive and could even support some negative surprises this year.

However, the underpinning of the current bull market has been dividend yields. The FTSE is currently offering 4% and is likely to increase over the coming year, with many of the large caps having excess liquidity. This is very attractive compared to other assets, particular as we shall be expecting higher rates in the future. The large number of income seekers are likely to increase the positions in the FTSE this year rather than reduce them.

Ron William, Senior Lecturer, London Academy of Trading:

The UK’s FTSE100 was reaching all-time record highs into the New Year, fuelled by a global wave of investor euphoria. 2018 was the best start to a year for S&P500 since 1999, marked by the Dow’s historic break above the psychological 25K handle.

All these technical new high breakouts are being supported by the highest level of upward earnings revisions since 2011, coupled with extreme levels of market optimism last seen at the peak of Black Monday 1987.

From a behavioural standpoint, it seems that analysts and investors are silencing tail-risk concerns in a precarious trade-off for fear of missing out on the party.

The “January Effect” is part of a tried and tested maxim that states “as the first week in January goes, so does the month”; and even more importantly, “as January goes, so does the year”. So our recommendation would be to see how January plays out as a potential barometer for the next 12 months.

However, keep in mind that we still live in known unknown times; some major markets have not even had a 5% setback in 16 months and the VIX index is at new record lows.

Back to the FTSE100, all eyes remain on the next glass ceiling: 8000. While there is an increasing probability that the market will achieve this historic price target, we must also apply prudent risk management as the asymmetric risk of a violent correction remains.

The long-term 200-day average, currently at 7422, is key. Only a sustained confirmation back under here would signal a major cliff-drop ahead from very high altitudes. Brexit tail risk will more than likely continue to weigh heavily on it.

We would also love to hear more of Your Thoughts on this, so feel free to comment below and tell us what you think!

Finance Monthly had the privilege to talk to tech veteran Carlo Gualandri about his FinTech start-up Soldo.

How does Soldo work and how easy is it to implement?

With a Soldo business account, organisations can allocate multiple intelligent pre-paid plastic and virtual Soldo Mastercards to employees and departments. Soldo provides real-time control on exactly who within an organisation can spend money, how much they can spend and where, when and how they can spend it. Companies can allocate spending budgets and impose very specific spending rules, whilst processing payments in real time. Soldo’s instant controls are remote and virtually effortless. Soldo's rich and detailed transaction data allows for uniquely detailed analysis, putting an end to the tedium and cost of traditional expense reports. Setting up an account with Soldo is quick and easy. There are no credit checks and accounts are up and running within one business day of registration. Once money is loaded onto an account, funds can be easily transferred to users for free and they can start spending immediately.

What are the three main benefits of investing in a multi-user business spending account?

Delegate: Soldo provides a mean for businesses to manage delegation of spending. It enables them to empower employees and departments to spend on behalf of the business itself - putting an end to cash advances and last-minute bank runs.

Control: With Soldo, businesses can easily stay in control of their money by setting bespoke limits, budgets and rules on user spending to retain ultimate authority.

Track: With Soldo, employees can effortlessly add transaction data, including pictures of receipts, notes and tags. All transaction data is available to view in real time and with a couple of clicks, expense reports can be generated, putting an end to traditional tedious expense reports.

As a young company, what would you say have been the major challenges so far and how have you overcome them?

Soldo is constantly evolving to meet and exceed customer needs. As such, it can prove challenging to implement internal processes in an environment which is dynamic and constantly changing. Soldo benefit from being composed of an experienced team, many of whom have worked together previously, which facilitates processes implementation and communication of ever-changing needs. Another major challenge has been the international outlook of Soldo right from the beginning, with offices in 3 different countries. However, we strongly believe that it is important to have a global outlook from the start to better understand and serve our customers. Here at Soldo, we utilise technology to communicate daily between our various offices and have 2 annual companywide conferences where we come together to discuss our progress and vision for the future.

How did the company come about in the first place, and what has pushed you to develop it this far?

Soldo was founded in 2015 by entrepreneurs and banking experts, united by the search for a simple and effective way to manage money within organisations. With over 20 years of experience in payment services and developing transactional systems, the team has harnessed the latest financial technology to provide the smartest corporate payments and expenses solution. We didn’t just stick a label on an ‘easy’ solution but invested heavily in the creation of a world-class technological, regulatory and operational platform and in finding the best team.

Soldo’s rock-solid innovation and talented team has attracted $20 million, in both Seed and Series A funding. Led by Accel Partners, our Series A round was completed in June 2017.

What are your thoughts on the digital age and the optimisation of all systems, including cashflow and accounts, in 2018?

Long-overdue regulatory evolution in the financial services industry has coincided with vastly accelerated technology amidst a market in which customers are more demanding than ever. Used to seeing innovative technology change almost every aspect of their daily lives, customers are increasingly impatient with old-fashioned, expensive or inefficient solutions. This technological evolution has played out particularly powerfully in cloud and mobile, and the stage is set for a perfect storm that will create significant market opportunities for new players and services. Within financial services, banking has always been a relatively closed market, shielded from the need to innovate by the lack of open market access. In this context, competition has been minimal and B2B services have lagged behind, even those for consumers. Soldo has seized this opportunity, bringing B2B financial services up to speed and leveraging this perfect storm to the utmost. Soldo’s innovative services make it easy for companies to manage and send payments and gain clear insight into spend. Soldo optimises the entire accounts administration process, which has been woefully under-leveraging technological innovation, and is still dominated by time-consuming manual work.

Website:  www.soldo.com

Email: businesssupport@soldo.com.

Business travel has its own set of wonderful perks. An opportunity to get out of the office and see the world, corporate exploration allows you to do business in a brand-new city, as well as having some fun while you’re out there. But where are the best destinations in which to do business? Here, Irma Hunkeler at BlueGlass, brings you ten places for your consideration.

10. Instanbul

Instanbul, Turkey. Photo: Moyan Brenn/Flickr

It’s a cliche but it’s true: east meets west in Istanbul, and this is particularly true when it comes to business. The city has acted as a central connection point for companies from different ends of the globe, making it one of the world’s most diverse and thriving corporate destinations. It’s also a place full of beautiful ruins, amazing street food and fantastic people. Put your negotiation skills to the test with a haggle at a street market.

Main industries: Textile production, food, oil, electronics

Where to go: Hagia Sophia, Basilica Cistern, Aya Sofya

9. Frankfurt

Frankfurt, Germany Photo: Pixabay.com

Long known as a major city for aviation - it has one the largest airports in Europe - Frankfurt is also establishing itself as a place for a number of other industries. With Frankfurt the seat of the European Central Bank, the German city is of international importance when it comes to the European financial services industry. It’s also a fantastic place to come and do business in.

Main industries: Financial services, telecommunications, IT, biotech, creative services

Where to go: Stadel Museum, Kaiserdom, Frankfurt Stock Exchange

8. Hong Kong

Hong Kong Photo: Pixabay.com

Alongside London and New York, city-state Hong Kong is one the globe’s leading business destinations. A combination of the free flow of information and free market policies make it a place conducive to running successful businesses, so it’s not hard to see why so many companies have activities here. What’s more, Asia’s most popular city for international business is one of the least corrupt economies in the world.

Main industries: Financial services, trading, tourism, professional services

Where to go: Victoria PEak, Hong Kong Museum of History, street markets

7. Mexico City

Mexico City, Mexico Photo: Pixabay.com

The heart of the Americas is one of the most thriving corporate destinations in south America. Named as one of the world’s best start-up hubs, Mexico is known as a great place to do business, chiefly because of the city’s sociability. It’s an easy city in which to set up shop and get to know people, so it’s no surprise that companies from the US are starting to call Mexico home.

Main industries: Pharmaceuticals, technology, financial services, manufacturing

Where to go: National Museum of Anthropology, Chichen Itza, Palacio de Bellas Artes.

6. New York

New York City, US Photo: Pixabay.com

Where to start when it comes to the Big Apple? This metropolis is home to companies from every part of the globe. Almost every big name has a presence here, in some form or another. As well as established players, the city also has an emerging start-up scene. After a day spent hustling in Manhattan, head to one of New York’s world-class museums before seeing a Broadway show.

Main industries: Financial services, media, technology

Where to go: Central Park, Empire State Building, Museum of Modern Art

Click next to see our top 5 business destinations

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While Apple reportedly struggles to get the iPhone X off its feet and into the market, stumbling on obstacles it knew would come about, such as developing proper facial recognition and delivering on its aggressive production schedule, global stock markets are fluctuating on the back of several factors, from the disastrous hurricanes to bad European weather and Brexit talk. Black Friday, Cyber Monday and Christmas are still ahead of us however.

Here Lee Wild, Head of Equity Strategy at Interactive Investor, provides an overview of the current global stock economy, as US markets and Japan’s Nikkei put London into perspective:

“The mood on many global stock markets might well be described as exuberant, but not irrational. Yes, it took less than six weeks for the Dow Jones to add the last 1,000 points to top 23,000, but latest US company quarterly earnings are beating expectations - look at IBM's fightback overnight - and president Trump's tax plans could still deliver a boost to the bottom line.

“Japan's Nikkei has just hit a two-decade high, but exports there have risen for a tenth straight month amid demand for Japanese technology.

“That puts what's happening in London into perspective. Investors are right to be concerned about a recent spate of high-profile profit warnings, and Brexit presents its own set of special circumstances, but many companies are delivering strong results and valuations are not excessive.

“Of course, the market will correct at some point. Chatter has picked up in recent weeks following profit warnings from blue-chips GKN, Mondi, ConvaTec and Merlin, but this bunch are not a fair indicator of the market as a whole.

“Unilever's highly-rated shares have come off the boil as bad weather affected sales of its Magnum and Ben & Jerry's ice creams in Europe during the third-quarter, while hurricanes in Florida and Texas held back the Americas. However, underlying sales in emerging markets still grew 6.3% and volumes were up. With just a few months of the financial year left, annual group underlying sales are still expected to grow 3-5% and profit margins improve.

“Don't be surprised to see a pullback between now and Christmas in some markets which have raced ahead this year, but it's unlikely to be the crash everyone is predicting. While inflation is currently outstripping wages growth, the UK unemployment rate is at its lowest since 1975 and any small rise in interest rates will not pull the rug from under this market.”