No Brexit hit: London remains world’s most important fintech hub outside the US June 23, 2021 A newly-published report has shown that London remains the second most active city in the world for fintech, behind San Francisco, but that the fintech space in the rest of the UK is expanding rapidly. London’s fintech space is primarily powered by its thriving ‘challenger bank’ sector, with Brexit and the pandemic having little impact [...]
New £50 note featuring WW2 codebreaker Alan Turing enters circulation June 23, 2021 A new £50 banknote celebrating mathematician Alan Turing, whose codebreaking skills helped Britain win WW2, entered circulation today. Turing is best known for designing machines to decrypt coded messages during WW2, as well as making discoveries in developmental biology. “Placing him on this new banknote is a recognition of his contributions to our society, and [...]
4 fantastic permanent jobs open in London right now June 22, 2021 Now is a great time to make a change. There’s something about the summer air that puts a real pep in your step, so why not really lean into it? You may have been thinking about getting a new job for a while, perhaps now is the time to go for it! If you are [...]
Soaring house prices and stock markets push wealth per adult to record £57,598 June 22, 2021 Despite the pandemic impact on economies around the world, global household wealth hit a new record last year, primarily due to soaring house prices and rebounding stock markets. The latest global wealth report by investment giant Credit Suisse showed today that wealth per adult rose 6 per cent last year, to hit a record £57,598. [...]
T-Shaped Teams and the Three Stages of AI Adoption June 22, 2021 | City Talk AI and data science will probably bring about the most significant changes to the financial services industry that the industry has witnessed in its short history. Yet, today, many financial institutions are still struggling to find their way to start the AI journey1. We propose a concept called T-shaped teams (See Exhibit 1) as the [...]
Revolut revenues surge as firm says it’s on the road to profitability June 22, 2021 Fintech firm Revolut made an adjusted full-year operating loss of £122m last year but a spike in customer numbers, the firm says, means it is on the path to profitability. Customer numbers jumped 45 per cent in the year ending 31 December and the firm’s adjusted revenues surged by 57 per cent to £261m, up [...]
Analysts warn Rishi Sunak: Treasury’s pensions raid could be ‘hugely risky’ June 21, 2021 The Treasury is eyeing pensions taxation as one way to pay for the cost of the pandemic, it was reported this morning. Although there are no plans to make changes to the triple lock, the Treasury is looking at three ways to change the ways in which pension contributions are taxed, which some analysts have [...]
Treasury planning ‘pensions raid’ to pay for pandemic costs June 21, 2021 The Treasury is looking at pensions taxation as one way to pay for the cost of the pandemic, although there are no plans to make changes to the triple lock. The Treasury is looking at three ways to change the ways in which pension contributions are taxed, the Telegraph first reported. Government is reportedly looking [...]
Why the Covid Recovery Commission is right to put focus on skills June 21, 2021 | City Talk The City of London Corporation is urging Square Mile SMEs to get involved in discussions about how to support the recovery from the COVID-19 pandemic and enable growth into the future. The SME Strategy Focus Groups will be used to help inform the City Corporation’s very first strategy aimed at small to medium sized businesses. The new strategy is being developed to identify [...]
Unicorn nest: UK hits milestone of 100 $1bn tech companies, more than rest of Europe combined June 20, 2021 The UK tech sector has now 100 UK tech companies valued at $1bn or more, according to new data from Dealroom and Tech Nation, shared with City A.M. this weekend. The UK’s 100th tech unicorn, Tractable, an AI startup building computer vision tools, announced a $60m Series D raise, which takes the company’s valuation to [...]
