Day: November 5, 2020

Raffolux, the young British start-up, set to rip up the raffle book

Raffolux, the young British start-up, is being cited as one to watch in 2021, as the exciting venture is setting out to transform the traditional raffle into an exciting mass-market digital experience.

One which offers people the chance to win premium, aspirational prizes whilst raising money for charities across the UK.

The founders of Raffolux and men with the vision, Gerry Lianos and Harry Hammond, both aged 24, recognised that the online raffle sector was under-developed but primed for growth in the UK. The market was tired, largely occupied by single purpose raffle platforms – e.g. property or automotive – and a plethora of casual players. Gerry and Harry’s bold ambition from the start was to build an aspirational, mass-market brand that would become the clear market leader.

It’s an insight which has been supported by an impressive roster of investors as Raffolux has received over £1,000,000 in seed funding

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Bank of England governor pledges to do ‘everything we can’

The governor of the Bank of England has vowed to do “everything we can” to support the economy amid a resurgence of Covid-19 cases.

Andrew Bailey said it was important that policymakers acted “quickly and strongly”, as the Bank announced a further £150bn of support.

Tighter lockdown rules, including new restrictions in England, are expected to lead to a slower, bumpier recovery.

Policymakers also kept interest rates on hold at a record low of 0.1%.

While the economy is expected to avoid another recession, the Bank believes unemployment will rise sharply as government support schemes wind down.

The Bank expects the economy to shrink by 2% in the final three months of 2020, before bouncing back at the start of 2021, assuming current restrictions loosen.

It does not expect the UK economy to get back to its pre-virus size until the following year.

Mr Bailey said: “We are here to

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A look into Barber’s “The Powerful and the Damned”

Lionel Barber

Lionel Barber talks about his 14-year career at the Financial Times helm in his private diary, “The Powerful and the Damned.” It gives an account of what was happening in the world that the FT was covering at that time and who “whispered or yelled” what into the editor’s ear.

During that time, the world was both fascinating and turbulent, from the 2008 financial crisis to Japan’s tsunami of 2011, to Europe’s debt and migration crises. History was being made at that time, with technological disruption swirling all around.

Also, at that time, newspapers and the internet had started their own battles, and the FT had to pick itself up after a sticky patch in the early 2000s.

Barber achieved this by investing in rigor and quality, and by grasping the opportunity that digitalization provided to move from a print-first to a digital-first service, enabling his commercial colleagues

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