Swedish fintech startup iZettle lands €30m to fund artificial intelligence research from European Investment Bank | City A.M. September 19, 2017 iZettle, one of Europe’s most successful fintech startups, is ramping up its research and development efforts and will focus on the potential applications of artificial intelligence with fresh funding from the EU’s lending arm. The European Investment Bank (EIB) is funding a round of debt to the tune of €30m for the payments firm, which [...]
Brexit: Business and backbenchers to support Prime Minister Theresa May’s impasse-breaking divorce bill speech September 19, 2017 Theresa May will be backed by backbenchers and business if she broaches the issue of the Brexit divorce bill in a significant speech later this week. The Prime Minister, who is currently in Canada trying to secure a pre-Brexit agreement on future trading, will be in Florence later on Friday to deliver a critical intervention [...]
Will Boris Johnson be the next Prime Minister? September 19, 2017 Will Boris Johnson be the next Prime Minister? YES – Rupert Myers, barrister and writer. Of course Boris will be the next Prime Minister. Politics isn’t a meritocratic process – look at Trump and Brexit. First, consider whether Vladimir Putin would like Boris to be PM. Obviously he would. Anything that might bring chaos or [...]
Ryanair flight cancellation troubles to cost airline up to €25m as boss Michael O’Leary bemoans ‘mess of our own making’ September 19, 2017 Ryanair is set to foot a €25m (£22m) bill following a wave of flight cancellations set to take place over the next six weeks. The airline said over the weekend that it will cancel 40 to 50 flights every day until the end of October after “messing up” its pilots’ holidays, the fallout from which [...]
Transferwise founders set to sell first shares as forex firm is confirmed as fintech unicorn September 18, 2017 The two founders of Transferwise will sell part of their stakes in the foreign exchange start-up as part of a funding round valuing the fintech darling at $1.6bn (£1.2bn), according to reports. Taavet Hinrikus and Kristo Kaarmann are set to sell small parts of their 40 per cent ownership of the firm as part of [...]
British manufacturing now eighth largest in the world September 18, 2017 The UK’s manufacturing industry moved up a spot in the global league table to become the eighth largest in the world, according to the latest available data. British manufacturing is now worth $249bn (£185bn) every year, according to United Nations data collected by the EEF, a manufacturers’ lobby group. The UK leapfrogged France in the [...]
Healthcare-focused private equity firm Archimed has raised a €315m fund in just four months September 18, 2017 Private equity firm Archimed, which was founded by the former healthcare division leaders at UK buyout house 3i, has closed its second fund at €315m (£278m). After just four months of fundraising, Med II has exceeded its target by more than 25 per cent and is double the size of its predecessor. Read more: Keep [...]
Norwegian has quietly been poaching dozens of Ryanair pilots amid flight cancellation chaos September 18, 2017 Low-cost airline Norwegian has poached a chunk of pilots from the Irish airline since the start of the year, it emerged today. It comes amid the news that Ryanair has announced a slew of flight cancellations over the coming six weeks after messing up the planning of pilot holidays. The airline, which has been bolstering [...]
Odds on foreign secretary Boris Johnson to leave Cabinet jump after letter repeats £350m Brexit-NHS claim September 18, 2017 Boris Johnson is now the most likely member of the Cabinet to leave their post, according to bookies Paddy Power, following his unapproved Brexit intervention this weekend. The foreign secretary is thought to be in hot water after penning a controversial letter in the Telegraph this Saturday, which repeated his claim made during the referendum [...]
Transport for London pledges no compulsory redundancies in London Overground overhaul of ticket offices as strike threat looms | City A.M. September 18, 2017 Transport for London (TfL) and Arriva Rail London (ARL) said today that “there will not be a need for compulsory redundancies” in plans to overhaul the London Overground, as unions warned ticket office closures could lead to industrial action. ARL will begin meeting with staff and unions to discuss proposals to improve customer service, including [...]