Are we overestimating the benefits and ignoring the pitfalls the iPhone has brought in the past 10 years? June 29, 2017 Q: Are we overestimating the benefits and ignoring the pitfalls the iPhone has brought in the past 10 years? YES – Aral Balkan, cyborg rights activist and co-founder of Ind.ie On 9 January 2007, I was sitting at Moscone West watching Steve Jobs announce “three revolutionary products… a widescreen iPod with touch controls, a revolutionary [...]
One in six London workers are EU nationals as employers warily eye immigration restrictions June 29, 2017 More than one in every six workers in London are EU nationals, according to new research which underlines the vulnerability of the capital to restrictions on immigration after Brexit. Some 17 per cent of the London labour force come from the EU, by far the highest proportion among the British regions, according to the Recruitment [...]
Federal Reserve gives largest US banks the green light to splash the cash in the second round of stress tests June 28, 2017 Major US banks have performed well in the second round of annual stress tests, as the Federal Reserve (Fed) tonight approved plans for the country’s largest institutions to distribute cash to shareholders. The stress tests, brought in after the financial crash, are designed to ensure that banks could cope in a crisis. The Fed’s approval [...]
Financial Conduct Authority (FCA) asset management report on the £7 trillion asset management industry could sideline active funds June 28, 2017 A push by the Financial Conduct Authority (FCA) to reform the UK’s £7 trillion asset management industry has garnered a mixed reception, with some predicting that the shake-up could drive certain managers out of the market. Designed to increase transparency and lower costs for investors, the FCA’s 112-page report published today included recommendations that fund [...]
EU considers new taxes as it scratches its head over the budget funding shortfall from Brexit June 28, 2017 The European Commission is considering new taxes for EU members to fill the funding gap that will emerge when the UK exits the bloc. The UK was the second largest net contributor to the EU budget in 2015, providing £12bn. Read more: Carney: Tighter policy needed if businesses look through Brexit uncertainty When the UK [...]
Sadiq Khan has just launched a £70m fund to support regeneration in London June 28, 2017 London mayor Sadiq Khan has launched a £70m regeneration programme to improve the capital’s high streets, communities and open spaces. Called the “Good Growth Fund”, the programme is open to public, private and third-sector organisations including London boroughs, community groups and charities that drive regeneration in their local area. Read more: London’s most polluting buses [...]
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 [...]