Coutts warns of a bitcoin “gold rush” as cryptocurrencies rise October 13, 2017 The Queen’s bank has warned investors of a “gold rush” in cryptocurrencies as it said there were too many uncertainties for it to include bitcoin or other digital currencies in its investment strategy. More investors have started to take an interest in cryptocurrencies after bitcoin’s price broke through the $5,000 barrier yesterday and continued rising [...]
Wells Fargo share price falls after it says it took a $1bn legal hit in the third quarter October 13, 2017 US lender Wells Fargo took another hit from the fake accounts scandal that enveloped it last year, as legal costs topped $1bn in its third quarter. The figures Revenues fell two per cent to $21.9bn (£16.5bn) in the three months to the end of September, it said today, while net income fell to $4.6bn, from [...]
Transport for London (TfL) mulls cashing in on open data expertise through new consulting arm October 13, 2017 Transport for London (TfL) has shed more light on the role of its consultancy arm in the works, saying today that it is exploring new commercial avenues through releasing open data. The transport body makes its information, spanning timetables, service status and disruption, publicly accessible. And according to a report out today by Deloitte for [...]
Travellers are taking the final flight 666 to HEL on Friday the 13th October 13, 2017 Some people would avoid flying altogether on Friday the 13th. But some people wouldn’t mind. In fact, some would book a trip with the flight number 666. And the hardiest few would book that flight straight to HEL. Today is the last day that Finnair’s flight 666 will go from Copenhagen to Helsinki, having launched [...]
Wider Night Tube rollout draws a step closer with upgrade progress of Circle and Hammersmith & City Lines October 13, 2017 The wider rollout of Night Tube services across the London Underground has drawn a step closer, as Transport for London (TfL) said today that upgrade work on the sub-surface Tube lines has progressed. A crackdown on signalling problems across sections of the Circle and Hammersmith & City Lines is expected from next year, after TfL [...]
Heathrow expansion and better broadband: Britain’s key infrastructure priorities from now to 2050, according to the National Infrastructure Commission October 13, 2017 The head of the National Infrastructure Commission (NIC) said today that Heathrow expansion is “perhaps the most serious infrastructure failure of all” as he sets out the most pressing needs for Britain from now until 2050. “We’ve spent 13 years talking about a new runway – it’s now time to get on with it and [...]
Prominent investor group the International Corporate Governance Network (ICGN) adds forceful objection to FCA’s Saudi Aramco listing plans October 12, 2017 A prominent investor group has strongly objected to controversial plans to allow sovereign companies such as Saudi Aramco lower transparency requirements to list in London, with a consultation by the City watchdog closing tomorrow. Under the plans put forward in July by the Financial Conduct Authority (FCA), state-owned companies such as Aramco will qualify for [...]
Challenger bank OakNorth hits unicorn status as it grabs £154m to take its fintech global October 12, 2017 Money seems to be growing on the tree for OakNorth, a challenger bank which has just raised another £154m to take its proposition global. The business, which specialises in providing smaller loans to UK businesses, secured investment from Singapore’s Clermont Group, Martin Hughes’ asset management firm Toscafund and New York’s Coltrane who have together bought [...]
Fintechs can now apply for Financial Conduct Authority approval for accessing data from top banks as Open Banking moves a step closer October 12, 2017 Fintech startups are a step closer to getting their hands on customer data from some of the biggest high street banks in another move towards Open Banking. Firms wanting to take advantage of account information being made available under rules outlined by the competition authority last year can apply to the Financial Conduct Authority from [...]
City of London calls for a fintech sector deal to ensure UK remains leading hub after Brexit October 12, 2017 Fintech must get its own sector deal in order for the UK to remain a world leading centre after Brexit, City leaders have signalled. The industry has been urged to come together to urge the government to come up with a deal for the sector, which contributed £6.6bn to the economy last year, to ensure [...]