Nicky Morgan demands FCA publish RBS-GRG report by next week February 7, 2018 The chair of the Treasury Select Committee has given the FCA one week to publish its report into RBS’ restructuring unit GRG. Nicky Morgan said the report must either be published in full or handed over to the committee by 16 February. In a letter to FCA boss Andrew Bailey, Morgan said: “The deadline may [...]
Ranked: Here are the 20 wealthiest people in cryptocurrency revealed by Forbes’ first ever Crypto Rich List February 7, 2018 Forbes has compiled its first ever Crypto Rich List to rank the 20 wealthiest people in crypto, saying billion-dollar fortunes have been created almost overnight. Top of the list is Ripple founder Chris Larsen, with Forbes saying his net worth came close to $20bn in early January, as a result of owning 5.2bn XRP – [...]
London to explore how drones can work for the capital in Flying High Challenge with four other cities February 7, 2018 London has been selected as one of five cities to explore in detail how drone technology could be utilised across the UK. The challenge, run by innovation foundation Nesta’s Challenge Prize Centre in partnership with government-backed Innovate UK, called on cities to apply for a chance to examine how drones could be used in their [...]
Digital mapping firm Here to map Dubai with high definition technology to deliver driverless car ambitions February 7, 2018 Dubai said today it is working with digital mapping firm Here to use a live HD map for driverless cars as it looks to get 25 per cent of public transport self-driving by 2030. In an announcement today, Here said it will aim to map Dubai with high definition technology for the first time, to [...]
How will Mark Carney respond to the FTSE 100 sell-off? The shadow MPC votes to hold as market bets on May hike pull back February 7, 2018 Markets have dialled back their bets on a May rate hike from the Bank of England after the massive market sell-off at the start of the week, with Mark Carney due to make his first public statements since the turmoil tomorrow. Investors are currently pricing in a 37 per cent probability of a rate hike [...]
China’s Didi Chuxing is partnering with 12 auto giants including Renault-Nissan-Mitsubishi on a car-sharing platform February 7, 2018 Chinese ride-hailing behemoth Didi Chuxing announced today that it has launched a car-sharing platform alongside 12 auto giants including Geely Auto and Renault-Nissan-Mitsubishi. Didi said it intends to utilise its artificial intelligence strengths and national network to help the “entire automotive industry chain”. The company, which bought out Uber’s China business in 2016, said it [...]
UK fintech VC investment hit a record in 2017 as China falls behind February 7, 2018 Investment into UK fintech by venture capitalists hit a record high in 2017 bucking a global downturn and grew at a faster pace than rivals, new figures reveal, shaking of concerns of a Brexit slowdown. The year saw $1.8bn (£1.3bn) of cash flow into startups working on innovative financial technology, a rise of more than [...]
Time for Theresa May to get tough on Tory rebels like Anna Soubry February 7, 2018 Theresa May could be forgiven for wondering, how does she solve a problem like Anna Soubry? Sacked from the cabinet when May became Prime Minister following David Cameron’s decision to resign rather than see through the Brexit process (as he had promised), Soubry, the Tory MP for Broxtowe (a Leave-voting constituency), has been nothing but [...]
Global markets are correcting not crashing February 7, 2018 | City Talk When it came, the correction looked brutal: $4 trillion wiped off global stocks in a single day. But let’s not get carried away here. This was a correction rather than a rout whatever the newspapers might have us believe. The Dow Jones is still up 21% compared with the same time a year ago. The [...]
River and Mercantile fund head Philip Rodrigs has left the business following an investigation into professional conduct February 7, 2018 A portfolio manager at River and Mercantile Asset Management has left the business after an internal investigation into a “professional conduct issue”. Philip Rodrigs, a 36-year-old German-born fund manager who graduated from Oxford University, was previously lead manager of the River and Mercantile (R&M) UK Equity Smaller Companies Fund, the R&M UK Dynamic Equity Fund, [...]