Bitesize Blighty: October 12, 2018
- October 10 was World Mental Health Day and the week brought on much needed discussion on how individuals and firms take measures to combat varying levels of mental health concerns. A Soma Analytics – a health tech - report which contained analysis of over 22, 000 pages of FTSE 100 firms, showed that UK firms that mention the words “wellbeing” and “mental health” the most frequently in their annual reports enjoy higher pre-tax profits. This analysis draws a strong link between good employees’ mental wellbeing and boost in a firm’s profits. For instance, the health tech found that 46 companies whose reports featured the two phrases three times or more had average profits of £1.568billion, while the 54 companies with less frequent features of the phrases in their annual report had profits of £680m - half the amount of the 46 companies with the highest features of phrases.
- Forget Silicon Valley. Silicon Roundabout maintains its reputation as a tech hub that keeps driving volumes of US and UK deals. Deloitte reported that 2018 has seen 238 completed tech and financial services deals, an increase over the two-year average. This year has seen deals such as the acquisition of Endava – a London Tech firm – by the US software company Velocity Partners, and the acquisition of SCS Commodities by UK-based broker ICAP is on of 86 US businesses acquired by UK buyers.
- It was an October Royal Wedding today as Princess Eugenie married Jack Brooksbank. Princess Eugenie is the Queen’s granddaughter and Princes William and Harry’s cousin. The wedding was attended by 850 guests, while 1200 people chosen by ballot followed the wedding proceedings from the grounds of St. George’s Chapel in Windsor Castle. The wedding was paid for out of the family’s coffers, but the estimated £2m security bill for police and other safety services required throughout the wedding proceedings will be footed by the British public. Fun fact for all you Royalist and Royal Family fans - the groom, Jack Brookbank is the European Manager for the George-Clooney-co-founded tequila, Casamigos.