Future of travel special: Pent-up wanderlust, streaming and, of course, a lot of tech November 16, 2021 After three strict lockdowns, the old adage ‘trip of a lifetime’ has never been more appropriate. Nearly two years into the pandemic, constant reminders of how precious life is have inevitably left their mark, bringing an increased awareness of what really matters, which is quite a motivation for many people to stop putting off that [...]
Banks lose out as Brits join the open finance craze under lockdown November 15, 2021 Brits dissatisfied with services offered by traditional banks are being lured into the world of open finance in increasing numbers. During the pandemic, challenger banks and fintechs tripled their share of the credit card market and grew their personal loan books by 50 per cent according to new data from ClearScore. The research showed that [...]
The crypto industry is a ‘two front war’ says Blockchain.com’s strategy lead November 15, 2021 Blockchain.com’s chief strategy officer called the crypto industry a ‘two front war’ in which traditional institutions are struggling to keep up with grassroots innovation. Charlie McGarraugh, joined representatives from Coinbase, GSR and Enigma Securities to discuss institutional access to the crypto market at the Digital Asset Summit. Speaking in London today McGarraugh of crypto exchange [...]
McLaren rubbishes “wholly inaccurate” Audi takeover report November 15, 2021 Supercar maker McLaren has quashed reports of a takeover by German manufacturer Audi. Autocar reported this morning that Audi, whose parent group is Volkswagen, were set to take control of the Surrey-based operation, including its Formula One operation. But a spokesperson for McLaren told City A.M. this afternoon that the report is “wholly inaccurate.” “McLaren’s [...]
MPs furious Northern Powerhouse Rail upgrade will most likely be scaled back November 15, 2021 Reports that rail upgrade plans for the North of England are to be watered down have caused outrage and frustration among a number of MPs. According to the i, the Government is to scale back ambitions for Northern Powerhouse Rail, with proposals to deliver it through track upgrades rather than building a new line. Shadow [...]
UK business sentiment hits 12-month low amid supply chain and inflation woes November 15, 2021 British business sentiment dropped to its lowest level in a year in October, dragged down by fears of looming inflation and supply chain pressures that could undermine a sustained recovery from Covid disruption. Inflation expectations among UK business leaders surge to a record high last month, with 66 per cent expecting non-staff costs to increase [...]
UK government set to launch national security probe into Nvidia’s $54bn takeover of ARM November 14, 2021 Ministers are lining up a full-blown national security investigation into Nvidia’s planned $54bn takeover of British chip designer ARM, after months of negotiations between regulators and the US chip company. The investigation is likely to be announced on Tuesday week, after digital and culture secretary Nadine Dorries orders a “phase 2” probe into Nvidia’s acquisition [...]
Exclusive: Half of all Brits no longer trust tech giants with their personal data November 12, 2021 Nearly half of Britons no longer trust Big Tech companies to safeguard their personal data, according to new research that was shared exclusively with City A.M. today. Only one in four Brits believe Big Tech firms have their best interests at heart, according to a survey by cloud solution provider NexGen Cloud. This comes amid reports that [...]
Labour calls for Deloitte to be sacked from Test and Trace inquiry role November 12, 2021 The Labour party has called for audit giant Deloitte to be stripped of its contract to prepare NHS Test and Trace for a government inquiry into the handling of the pandemic, accusing it of a “blatant conflict of interest”. Since the onset of the pandemic, Deloitte has won contracts advising the NHS Test and Trace [...]
Luxury group Richemont in talks with Farfetch to shed stake in lossmaking Net-a-Porter November 12, 2021 Swiss luxury goods group Richemont is in “advanced talks” with the UK’s Farfetch over a deal to sell on its minority stake in the lossmaking Yoox Net-a-Porter (YNAP) online luxury retailer. It’s a move that is likely to butter up investors that have long been critical of its stake in YNAP, which has lost its [...]