Britain fails to make top 100 innovative companies for second year due to 'heavy reliance on financial businesses'

No British firm has made it onto a list of the world's most innovative companies, for the second year in a row.
The Thomson Reuters Top 100 Global Innovators list, now in its third year, measures innovation by firms' use of patents.
And it blamed a lack of funding for research and development in the UK for the complete absence of British names from the list.

Falling behind: The Thomson Reuters Top 100 Global Innovators list, blamed a lack of funding for research and development in the UK for the complete absence of Britain in the list

The report said British firms lost out because the economy is so oriented towards the service sector, in particular due to a 'heavy reliance on financial businesses'.
Figures from 2010 showed than Britain spent less than the US, Japan and France on R&D.