Uber has applied for an e-money licence in the Netherlands to streamline European payments March 27, 2018 Uber has submitted an application for an e-money licence in the Netherlands, where its international headquarters is based, to streamline its payment process. A spokesperson for the ride-hailing company said the firm is “constantly expanding the range of products we offer and improving the experience for those who use our apps”. The payments processing licence [...]
Prime Minister urged to consider City sanctions for Putin allies with extra checks on money going through London clearing houses March 27, 2018 The Prime Minister has been grilled by MPs over doing more to hurt Putin “and those who are suckling at the teat of the regime”. Giving her regular update to the Liaison Committee, which is formed from the heads of other Commons committees, Theresa May was praised for her success in securing an unprecedented show [...]
Could the bitcoin price (BTC) rocket back to $20,000, or are they halcyon days over? Here’s what the analysts say March 27, 2018 Bitcoin’s price hovered around the $8,000 mark today after dropping yesterday on the news that yet another tech giant was banning crypto adverts on its platform, but some analysts say it could rocket back up to $20,000 this year. Having fallen from more than $13,000 at the start of the year, Jordan Hiscott, chief trader [...]
Aviva boss Mark Wilson paid £4.3m last year after bonus bump March 27, 2018 The chief executive of insurer Aviva was paid £4.3m last year, with nearly £2m of that coming as a bonus after a strong year. Chief executive Mark Wilson received £1.028m as a basic salary, a £1.945m bonus, £966,000 in long-term share incentives and £288,000 in pension payments. His total remuneration actually dipped from last year [...]
Used car fintech startup Oodle has grabbed £100m of funding from Citigroup March 27, 2018 Oodle, the used car fintech startup co-founded by an ex-banker, has just grabbed £100m of funding from Citigroup. The young business, which scooped a £60m investment from private equity giant KKR last year, has already received more than £1.18bn worth of finance applications through its website which merges car searching and financing. Citigroup’s funding is [...]
Aviva made clear that it wanted to reduce hybrid debt by £900m and planned to cancel its preference shares. March 27, 2018 | City Talk At its annual results presentation on March 8, Aviva made clear that it wanted to reduce hybrid debt by £900m and as such pointed out that it has the ability to cancel its irredeemable preference shares at par value – something which came as a surprise to retail and institutional investors. The company argued that [...]
Trump’s protectionism poses “significant risk” to global growth says Bank of England March 27, 2018 Policymakers at the Bank of England are concerned that protectionist economic policies pursued by US President Donald Trump could damage global growth, according to their latest assessment of the risks to the financial system. The Bank’s financial policy committee (FPC) is concerned that “The potential for an increase in trade barriers represented a significant downside [...]
Post Cambridge Analytica: Four opportunities for a new deal on personal data March 27, 2018 The way information is being collected and sold on the internet is creating stark new power imbalances in our societies. The Cambridge Analytica revelations remind us how easy it now is for unaccountable actors to capture personal data, and abuse that power in ways that could have a profound influence on the outcomes of democratic [...]
The EU’s misguided tax on tech giants is doomed to fail March 27, 2018 Amid the moral panic about “tech giants”, trust the European Union to lead the way with a ham-fisted proposal to “level the playing field”. Politicians on the continent have worried for years about the tax planning of these (usually American) super-firms. Last week, they issued a proposal to deal with the perceived problem: allow individual [...]
Think of Isas as the path to future happiness March 27, 2018 Why aren’t more people saving and investing via Isas? And what can be done to encourage more people to use them to prepare for their financial futures? As we near the end of this year’s Isa season, we can reflect that it has never been easier for people to invest – and it can be [...]