The mountain of debt cannot be ignored no matter how much the economy grows January 12, 2022 Politicians and regulators are increasingly concerned about one phenomenon: buy-now-pay-later (BNPL). Nearly a year ago, the government agreed to regulate BNPL lenders, with an independent review chaired by City expert Christopher Woolard warning the sector represented a “significant potential consumer harm”. A Treasury consultation on BNPL only closed at the end of last year. It [...]
Britain’s prosperous future depends on attracting talent on and off our shores January 12, 2022 I have spent my life as a first-generation immigrant building businesses in the UK. For my entire career I have been an internationalist in favour of membership of the EU. I even got elected as a LibDem MEP for London in 2019, on a second referendum agenda. I was a gold card-carrying Remainer. But I [...]
Letters: Regulations are needed to stop crypto fraud January 11, 2022 [Re: Google searches for ‘Sell Ethereum’ up 972 per cent following crypto plunge, January 7] Your article on the drop in value of Ethereum and its likely alignment to recent changes in crypto-regulation in China, highlights to me the need for multilateral regulation around cryptocurrency. This feels like a necessity if we are to protect [...]
Opinion-in-brief: Help SMEs by sorting their cash flow January 11, 2022 Small businesses have been hit the hardest by Plan B. The restrictions have been a body blow to many SMEs that continue to face the lingering effects of the pandemic. A disappointing festive period, mounting Covid debt and soaring prices have pushed many of these businesses to breaking point. The need to tackle the cash [...]
The Big Four: brace yourself for the legislative changes affecting business in 2022 January 11, 2022 An old proverb says the best time to plant a tree was 20 years ago – but the second best time is now. This year is set to see significant regulatory changes with real consequences for UK financial and professional services. Many firms will have been preparing for them for months, if not years. Some [...]
Inside the world of clearing banks: Is the Bank of London worth the 250 year wait? January 11, 2022 Late last year the Bank of London became just the second clearing bank to launch in the UK for 250 years. The bank made its market debut with a $1.1bn valuation. It’s the first pre-revenue bank ever to reach unicorn status upon entering the market. You couldn’t ask for a more promising start. Chairman Harvey [...]
Call to action: more women in top executive jobs means better business January 11, 2022 For the first time, women now hold most non-executive director roles in the UK’s top companies. This is heartening news, but it’s not enough. We need more female executive directors – the doers – with a seat at the table as well as a better pipeline for young talent to get there. The demonstrable increase [...]
Opinion-in-brief: The UK has a digital identity crisis, and banks can solve it January 10, 2022 Last year, digital identity hit the headlines with the UK introducing Covid-19 passports which raised concerns about data privacy. People already give up their data every day to websites and social media platforms. It is estimated everyone has 200 digital identities. People should be able to safely prove their identity online, while having complete control [...]
Turn diversity on its head: inclusion is an opportunity, not an obligation January 10, 2022 If you search for news stories on diversity and inclusion, you will see a theme running through the reporting. Look at the key words: “inequality”, “victimised”, “discrimination”. We see the issue through the lens of mending our ways, correcting bad practice and attempting to tackle the overarching and structural problems of prejudice—whether on grounds of [...]
Getting boosted is a small contribution to protect our dearest Square Mile January 10, 2022 During Christmas and New Year, the news has been dominated by Omicron – as we may all have expected. Yet there is much to be proud of in our fight against this virus. Thankfully, there are early signs that we may be passing the peak in London, and that the damage caused by Omicron in [...]