Is fintech the new black? Lower trust in disruptors gives banks reason to cheer June 10, 2016 Digital innovation – and more specifically the impact of fintech – is currently the most intensely debated topic in the financial services sector. Two years ago hardly anyone outside the industry had heard of fintech. Now it’s the hottest investment class globally for VCs. PwC recently produced a report claiming that over 20 per cent [...]
Sadiq Khan’s pledge to crack down on Uber smacks of the worst of crony capitalism June 10, 2016 In the fight to succeed Boris Johnson as mayor of London, one thing that did not attract much attention was that both candidates attacked the ride-sharing app Uber. Sadiq Khan did so first, threatening a crack-down on the service in response to a black cab driver who called into a radio show, and Zac Goldsmith, no profile [...]
As Amazon Fresh launches in London, does it pose a real threat to UK supermarkets? June 10, 2016 Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, says Yes. The last thing that the traditional British supermarkets want is another challenge to their model – they’re still busy fending off the shock of Aldi and Lidl’s sharp pricing model. Online grocery sales are growing well ahead of the overall market, so it’s [...]
Sadiq Khan’s key campaign pledge hits the buffers June 9, 2016 Shouting was never Zac Goldsmith’s style but if he were moved to raise his voice it would probably be at the revelation that his former opponent (and new mayor of London) has already abandoned a key campaign pledge. Sadiq Khan hasn’t just distanced himself from a flagship promise to freeze rail fares; he’s practically forgotten that [...]
Why an England Euro 2016 defeat will wipe billions off stock markets June 9, 2016 After a disappointing 2014 World Cup, the nation is eagerly awaiting the start of Euro 2016. With a 100 per cent record in the qualifiers, and currently priced at 8/1 fourth favourites, England are quietly confident that they can at least emulate their semi-final appearance 20 years ago. But it shouldn’t only be football fanatics [...]
Don’t believe the myth that Londoners oppose a vital new runway at Heathrow June 9, 2016 As MPs from different parties representing different parts of London, it’s not often we find ourselves unambiguously agreeing. But it is clear that to seize the opportunity for Londoners that comes from being at the heart of the global economy, we urgently need a government decision on airport capacity. And we need it to be [...]
Losing the EU financial services “passport” would be a disaster for the UK economy June 9, 2016 I read with real concern that the Leave campaign does not think that the “passporting” afforded by the EU is worth much to the City. “Such rubbish,” Vote Leave campaigner Andrea Leadsom called it recently. Her statement shows a tragic lack of understanding of what modern financial services need. Thanks to the EU, a UK [...]
As long jumper Greg Rutherford freezes his sperm because of Zika virus fears, should the Rio Olympics be moved? June 9, 2016 Lee Igel, clinical associate professor at the New York University Tisch Institute and co-director of NYU Sports and Society, says Yes. The Rio Olympics should be postponed or moved, but not called off entirely. Knowing what we already know about the spread and effects of the strain of Zika virus currently found in Brazil, on top [...]
City A.M. Unregulated podcast: How Oppo Ice Cream smashed its crowdfunding target on Seedrs in 10 minutes June 8, 2016 Crowdfunding: it's becoming increasingly popular, but is it worth it? Emma and Zak are joined by Charlie Thuillier, a co-founder of Oppo Ice Cream, which smashed its crowdfunding target in less than 10 minutes, and Seedrs' chief investment officer Thomas Davies, to discuss the highs and lows of crowdfunding. What's the best way to launch a [...]
Airports and houses: Both stuck in the mud June 8, 2016 It was a Wednesday, like today, nearly a year ago – 1 July 2015. Greece was gearing up for an historic referendum that many predicted would see the debt-riddled country crash out of the Eurozone. Andy Burnham was still favourite to become Labour’s new leader. Rumours were beginning to circulate that Leicester City would appoint Italian [...]