W1A: BBC spends £33m on redundancies… staff headcount increases, wagebill rises above £1bn July 19, 2017 The BBC’s staff wagebill rose above £1bn last year as the corporation’s headcount swelled – despite £33m being spent on redundancy payments. The £1bn does not include the pay of all of the celebrities whose salaries were revealed for the first time yesterday, because many are not employed directly by the corporation. According to the [...]
Bank of England gives fintech startups direct access to the UK’s RTGS payments system in latest innovation move July 19, 2017 The Bank of England has opened up the UK’s payments systems – the “plumbing” which facilitates same day money transfers between banks – to organisations that are not banks, giving fintech startups another step up in their challenge to traditional banks. Tech companies will no longer have to go through selected banks and other providers [...]
State pension age rises to 68: Government to accelerate timetable for increases July 19, 2017 Rises in the state pension age will be brought forward in plans announced by the government this afternoon. Work and pensions secretary David Gauke revealed to parliament proposals for the pension age to rise to 68 over two years from 2037. Those born before 5 April 1970 will not be affected. Retirement ages were previously [...]
International lending to China surges by $92bn as banks shrug off fears of a debt bubble July 19, 2017 Lending by international banks to China surged in the first quarter of the year, new data from an influential central bankers’ body shows, reflecting increasing confidence in the country despite fears of a debt bubble in the world’s second-largest economy. Cross-border bank assets lent to emerging economies grew by eight per cent year-on-year in the [...]
Green belt expected to be targeted by Sajid Javid’s house-building plans July 19, 2017 The Home Counties and rural parts of Britain are expected to be targeted in bold new plans forcing councils to build more houses. Communities secretary Sajid Javid is expected to reveal plans to shake up the way housing market assessments are carried out, putting the focus on local house prices-to-income ratios instead of population forecasts, [...]
The investment community is sexist July 19, 2017 “I’ve just received seed funding, the business is going well, and we’d like to raise series A. But I’m pregnant. Should I tell my prospective investors that I am pregnant?” Cue large gasp from the panel, shocked faces in the audience and one panelist asking “is this really an issue in 2017?” This was just [...]
The London Stock Exchange Group has started using blockchain technology July 19, 2017 London Stock Exchange Group will use blockchain technology to help un-listed businesses make shareholding information more transparent. It will use IBM’s hyperledger technology to make the information of small and medium sized private companies digital, which the exchange hopes can give them access to more mature investors. A small trial will initially begin with Borsa [...]
Trump had secret meetings with Putin at G20 summit July 19, 2017 Donald Trump and Vladimir Putin held a secret meeting during the G20 summit, attended only by Putin’s translator, US media is reporting. The undisclosed meeting between the two presidents took place during a dinner for the various heads of state and their spouses in Hamburg, according to the Eurasia consultancy boss Ian Bremmer, who was [...]
Transport for London gives the Oyster card a revamp with a new app that will send low balance alerts to your phone July 19, 2017 Transport for London (TfL) has announced a flurry of changes to the Oyster card, including a new app for passengers to get phone alerts when their balance is running low. Those who top up their pay as you go credit, or buy Travelcards using Oyster online can now collect their purchase from any Tube or [...]
Artificial intelligence is our chance to shoot for the moon July 19, 2017 A common criticism of the recent election has been that the campaigns failed to address many of the big issues that will affect the futures of most people. It’s a fair point. I don’t recall hearing one politician talk about the rapidly changing world of business and work, and what this country may look like [...]