Manchester bike-sharing firm Mobike develops tech to track cycles and lock them remotely June 28, 2017 Mobike, the bike-sharing firm bringing Boris-style bikes to Manchester, has developed location tracking technology that allows bikes to be locked remotely. The Chinese firm has teamed up with digital security company Gemalto to embed a “smart bike lock”. Today’s announcement comes a week after bike-sharing rival Wukong went bust after losing 90 per cent of [...]
Open Banking and PSD2 is an opportunity for change and collaboration June 28, 2017 Next year the banking industry will undergo great change, as PSD2 regulations are introduced across Europe and Open Banking Standards are implemented in the UK, to encourage greater competition. This means financial institutions (FIs) will be required to adopt open banking, by allowing third parties access to customer data in the form of secure APIs. [...]
Firms could be shocked at financial fallout from Petya and Wannacry cyber attacks, warns Lloyd’s of London June 28, 2017 Firms could be shocked at the cost of cyber attacks, such as yesterday’s Petya ransomware hack, with one of the City’s oldest financial institutions warning the reputational fallout is “what kills modern businesses”. Lloyd’s of London said today businesses need to prepare themselves for “slow burn” costs that follow cyber attacks such as reputational damage, [...]
Financial Conduct Authority (FCA) asset management market shake-up: How the City has reacted – Aberdeen Asset Management, Gina Miller, AJ Bell June 28, 2017 The financial watchdog has announced its plans to reform the asset management market, after carrying out a review of the £7 trillion industry over the past two years. The Financial Conduct Authority (FCA) launched a competition investigation into the sector in 2015, and today the regulator made recommendations for remedies in three areas to address [...]
London Heathrow Airport introduces FlyFit fitness studio with yoga and cardio classes for passengers to work out while they wait for a flight June 28, 2017 Got a delayed flight and already spent an hour wandering around the duty free shops? Well, Heathrow has thought of a new way for passengers to pass the time, rolling out a “wellness and fitness studio” at the airport. In a partnership with FlyFit, the London airport is opening a studio in Terminal 2 this [...]
European regulators have totally missed the point about Google and monopolies June 28, 2017 When is a monopoly not a monopoly? When it’s big – but fragile. That’s why it was such a mistake to go after Microsoft in the 1990s for pre-installing Internet Explorer on Windows machines. Microsoft had a big share of the market, yes, but it has been eclipsed by rivals like Android, iOS, and Linux. [...]
Google’s massive €2.4bn fine: Tech giant braced for further penalties June 28, 2017 Google is braced for further penalties from two other Brussels probes following the European Commission’s record €2.4bn (£2.1bn) fine, slapped on the firm yesterday. The Alphabet-owned tech giant was fined by the competition commissioner Margrethe Vestager for promoting its own shopping comparison service at the top of search results. The mammoth anti-trust fine, a record [...]
Uber wins right to appeal Transport for London’s (TfL) English written tests for private hire drivers as court date is set for 20 February 2018 | City A.M. June 27, 2017 Transport for London (TfL) has announced it will push back the introduction of a written English language test for private hire drivers from September this year to April 2018, after Uber won its right to appeal the matter. The case will be heard from 20 February next year. The ride-hailing app lost a High Court [...]
Trevor Steven: Safe standing can benefit everyone – it’s time to accept it in English football June 27, 2017 One of the most vivid memories from my playing days is of fans packed into the Gwladys Street end at Goodison Park so tightly that only their eyes and the tops of their heads were visible. I can remember similar scenes at Rangers and West Ham. Those atmospheres were electric. While I wouldn’t want to [...]
Brexit gives the UK a chance to rethink energy policy, but business must stay at the forefront of negotiations June 27, 2017 Britain should use Brexit as an opportunity to rethink some aspects of its long-term energy policy, a new report suggests. A report by law firm Herbert Smith Freehills and consulting firms Boston Consulting Group and Global Counsel suggests the status quo of remaining in the EU’s internal energy market is “highly unlikely”, and it considers [...]