Most people don’t trust big tech companies to issue digital currencies, survey finds February 5, 2020 The majority of people across the world don’t think that tech giants can be trusted to issue digital currencies, according to a new survey. The poll, conducted for the Official Monetary and Financial Institutions Forum (OMFIF), found an “overwhelming lack of support” for digital currencies issued by tech companies, which the think tank said “reflects [...]
EY hit with €95m claim over tax scandal advice February 4, 2020 Big Four accountancy firm EY has been targeted with a €95m (£80.5m) lawsuit for advice it gave to a collapsed bank that allegedly defrauded the German state. The administrator to Maple Bank filed the lawsuit against EY in Stuttgart. The claim relates to the so-called cum-ex scandal which led to the closure of Maple Bank [...]
Government’s AI adviser calls for crackdown on social media targeting February 4, 2020 Social media users are being left in the dark about the way major platforms target information at them, the government’s artificial intelligence (AI) adviser has warned. A report published today by the Centre for Data Ethics and Innovation (CDEI) called for tighter regulation of online targeting systems, which use personal information about users to decide [...]
The second order impacts of artificial intelligence February 4, 2020 | City Talk Much has been said about how artificial intelligence (AI) and machine learning might change the investment profession. Whether it is the advancement of automated trading, using alternative data to find new investment signals, or robo-advisors becoming more capable, the main focus to date has been on how these tools will cause the investment manager’s job [...]
Super-rich international shoppers flock to UK department stores February 4, 2020 The UK is the second most popular shopping destination in the world for super-rich tourists, with visitors spending up to €35,000 each with luxury British retailers, according to the latest research. Britain attracts 31 per cent of international “elite shoppers”, second only to France which took a 36 per cent share last year. Super-rich visitors [...]
We need to talk about race February 3, 2020 We need to talk about race. Because it directly affects the bottom line—and then some. Look to the much-quoted McKinsey study on ‘Why diversity matters’ and firms in the top quartile for racial and ethnic diversity are 35 percent more likely to outperform their median peers. Some estimate that we could add £24bn to the [...]
Tech start-up Cera acquires Mears Care February 3, 2020 Homecare tech start-up Cera Care has acquired Mears Care in a deal worth more than £30m. The acquisition will boost Cera’s employee numbers to 2,000, with 20 offices across the country and the ability to deliver more than 10,000 visits a day. The London-based startup said the deal will allow it to roll out its [...]