Blockchain consortium R3 has raised a $107m series A round of funding from top banks like HSBC, Barclays, UBS and Wells Fargo May 23, 2017 One of the biggest consortium’s working on blockchain technology has raised $107m from the world’s top banks and other big name investors, it’s been revealed. R3 founder and chief executive David Rutter announced the huge figure for its series A round on stage at a blockchain conference in New York, calling the investment “unprecedented”. Investors [...]
General Election 2017: Forget the outrage, Prime Minister Theresa May should not have U-turned on social care May 23, 2017 When is a U-turn not a U-turn? When it’s made by strong and stable Prime Minister Theresa May, of course, who insisted yesterday that her sudden pledge to cap the amount of money people will pay towards their social care was in no way a change of tack. The Tory leader put on an impressive [...]
Ford chief executive Mark Fields leaves in management shake-up as boss of driverless car unit Jim Hackett replaces him May 22, 2017 The chief executive of Ford is being replaced by another Ford executive, Jim Hackett. Mark Fields has chosen to retire after 28 years with the firm. Read more: Ford to cut 10 per cent of salaried jobs across the pond Hackett oversaw the Ford subsidiary that works on driverless cars, Ford Smart Mobility. The US [...]
CHI&Partners chief executive Sarah Golding talks taking up the IPA presidency May 22, 2017 I got rather lost in Fitzrovia searching for the CHI&Partners office; I thought I’d been there before, forgetting that in fact, the business and its affiliates are slowly but surely colonising the area around Rathbone Street, and I was at the wrong building. This time I was meeting Sarah Golding, CHI’s chief executive – hawk-eyed [...]
Here’s how much losing access to the Single Market could cost the UK economy as financial services are forecast to take the biggest hit May 22, 2017 There has been much discussion around what losing access to the Single Market will mean for Britain, and now, a new report has totted up how much it would cost the UK economy if no deal was secured on services. A report by the Centre for Economics and Business Research, commissioned by the anti-Brexit campaign [...]
The Bank junction car ban comes into force on Monday 22 May: Here’s everything you need to know on why taxis are banned and buses allowed May 22, 2017 The day is here… From today, Bank junction will be closed to all vehicles apart from buses, as revealed by City A.M. last month. It’s a long-running trial, so here’s what you need to know about the changes… Read more: Revealed: City of London has set a date for the car ban at Bank junction [...]
Bank junction traffic ban: Mytaxi calls on the City of London Corporation to rethink the 18-month closure over disruption concerns May 22, 2017 The boss of e-hailing taxi app Mytaxi has written to the City of London Corporation calling for today’s closure of Bank junction to be reassessed amid concern over the disruption it will cause. In the letter, seen by City A.M., Mytaxi general manager Andy Jones calls for a regular review of the trial period, which [...]
CISO salaries top €1m as cyber attacks fuel demand for information security experts on boards | City A.M. May 22, 2017 Salaries for Chief Information Security Officers (CISOs) at top European firms have topped €1m (£850,000) as the threat of data breaches grows. A rise in the number of cyber-attacks in the past five years has made the role of cyber-security experts increasingly important in the boardroom, according to global executive search firm DHR International. Read [...]
Big Data will never replace Big Ideas: Why cultural intelligence matters May 22, 2017 Whether it’s big data scores, over-hyped Silicon Valley apps, or the panacea of artificial intelligence, the world is fixated on the possibilities of algorithmic knowledge. This will prove to be a costly mistake for business. The greatest challenges and opportunities of the coming century will all be cultural. Major companies like Intel, Ford, and IBM [...]
UK jets off with private plane fleet | City A.M. May 22, 2017 The UK has been ranked as the third-largest home in Europe to private jets, with more than 200 such aircraft registered within its jurisdiction. With 223 business jets registered in the UK as of April, according to aircraft retailer Colibri Aircraft, the country ranks behind Germany and the Isle of Man, which boast 404 and [...]