GDPR: Inspiring consumer data best practices April 9, 2018 The EU General Data Protection Regulation (GDPR) is a complex topic. So to explain it in a very human and (hopefully) humorous way, I first want to use an analogy about borrowing a car. If you want me to lend you my car, I’d first ask you to please explain why you need to borrow [...]
Number of UK nationals getting citizenship of another EU member state more than doubled in the year of the Brexit referendum April 9, 2018 The number of UK nationals acquiring citizenship of another EU member state more than doubled in 2016, according to European statistical agency Eurostat. The number more than doubled from 2,478 people in 2015, to 6,555 people in 2016 – the year of the EU referendum. That marked a rise of 165 per cent during the [...]
Weak growth overtakes Brexit as biggest headache for UK firms after Brexit transition deal April 9, 2018 Brexit is no longer the biggest concern of big businesses in the UK, who now believe that weak growth is the biggest threat facing UK corporations, according to a poll published today. The survey conducted by Deloitte of 106 chief financial officers (CFOs) from some of the UK’s biggest firms showed that the Brexit transition [...]
Shutterstock CEO Jon Oringer on putting profit first and selling his billionth image | City A.M. April 9, 2018 Many moons ago, there was a game called GoogleWhack. The objective was to return only one hit from a Google search query consisting of just two words. Naturally, with billions of pages indexed, it’s quite tough, and today, probably impossible. I propose a new, but similar, game using Shutterstock. Type in any two words, and [...]
Markets in the UK, Europe and across Asia rally despite looming US-China trade war April 9, 2018 Markets across Europe and Asia have stabilised today, despite the looming prospect of a trade war between China and the US. The FTSE 100 climbed 20 points shortly after opening, while the Europe-wide Stoxx 50 was also up nearly 20 points, or 0.69 per cent. Asian markets also rallied, led by gains in Hong Kong’s [...]
Financial Conduct Authority cuts back on new initiatives as Brexit prep will cost £30m April 9, 2018 The City watchdog said today it was limiting the number of new initiatives it takes on for the year ahead, saying Brexit is “inevitably the priority” in its business plan published today. The Financial Conduct Authority (FCA) has also set out seven other areas of focus including tackling financial crime and firms’ culture and governance. [...]
Sequoia Fund picks up Facebook stake despite “unquestionable sins” April 9, 2018 The Sequoia Fund has bought a stake in scandal-stricken Facebook despite its share price slumping in recent weeks. In a note to investors, Ruane, Cunniff & Goldfarb, the mutual fund’s manager, said it purchased a “small” stake in Facebook towards the end of the first quarter. “Though Facebook has unquestionably committed sins for which it [...]
Deutsche Bank’s new boss Christian Sewing tells employees “tough decisions” have to be taken as he eyes investment banking review April 9, 2018 Deutsche Bank’s new boss Christian Sewing has told employees the challenge ahead “is a big one” with tight time pressure and high expectations from clients, investors and regulators alike. In a letter to the firm’s workers published on the company’s site today, Sewing said to get the bank profitable again, he will “take tough decisions [...]
Xavier Rolet, former London Stock Exchange boss, to join the board of Russian fertiliser firm Phosagro | City A.M. April 9, 2018 Xavier Rolet’s latest venture has been unveiled after a Russian fertiliser giant said the former boss of the London Stock Exchange had been nominated to join its board as an independent director. Phosagro said its board and corporate governance system would be strengthened with Rolet’s “extensive professional experience”. Under Rolet’s watch, the LSE’s market capitalisation [...]
Is Sadiq Khan letting London down as mayor? April 9, 2018 Is Sadiq Khan letting London down as mayor? Shaun Bailey, a Conservative London Assembly member who sits on the Environment Committee, says YES. All too often over recent weeks, the public have woken up to tragic headlines. News of yet another stabbing victim is an almost daily occurrence, and it is reported that, on some [...]