Tecent, Baidu and SoftBank fined in China for monopolistic behaviour in fintech crackdown March 12, 2021 China’s market regulator said today it has fined 12 companies $77,000 each for flouting anti-monopoly rules. Concerning ten deals in particular, companies including Tencent Holdings, Baidu Inc, Softbank and a ByteDance-backed firm, were fined for behaviour that caused market concentration, the State Administration for Market Regulation (SAMR) said. The companies’ actions did not completely exclude [...]
Natwest winds down online lending platform Esme March 12, 2021 Natwest’s foray into the fintech world has come to an abrupt end with the closure of its standalone SME lending platform Esme Loans. Esme launched in 2017 offering loans between £5,000 and £150,000 for small business customers. The terms were usually between between one and five years and backed by personal guarantees. Now the platform [...]
UK economy shrank 2.9 per cent in January as third lockdown took hold March 12, 2021 Monthly GDP fell by 2.9 per cent in January as a fresh national lockdown took hold of the UK economy, according to new ONS data. The January figure, which was 9 per cent below its February 2020 level, was driven by a decline of 3.5 per cent in services, the Office for National Statistics said. [...]
Atom Bank valuation set to halve after latest fundraising round March 11, 2021 The valuation of digital lender Atom Bank could halve as it closes its latest fundraising round. Atom announced its £40m fundraising last month claiming it would put it “on the path to profitability in the near term”. But the challenger bank is now close to concluding a round at 60p-a-share, just under half the price [...]
Monzo co-founder Gary Dolman joins Tickr as chairman March 11, 2021 Sustainable investing app Tickr has enjoyed meteoric growth during the pandemic, closed a £2.5m funding round and will now welcome one of Monzo’s founders to its board. Founded in 2018 by Tom McGillyCuddy and Matt Latham after stints at Barclays and Wellington Management, the pair wanted to demystify sustainable investing. The Tickr app only offers [...]
Who leaves you hanging? In London, it’s banks March 10, 2021 Banks are the worst at answering customer service calls in the capital, with 33 per cent of Londoners saying it is financial institutions that led them wait the longest, if they are able to get through at all. A new Moneypenny survey, revealing the organisations that are worst at answering the phone, singled out utility [...]
Monzo backer Passion Capital opens doors to retail investors March 10, 2021 One of the earliest backers of fintech favourite Monzo is opening its doors to crowd investors with the launch of its third fund. Passion Capital’s £45m fund will be open to any investors who self-certify as “high net worth” or “sophisticated” and are registered and qualified by the crowdfunding platform Seedrs. It will give retail [...]
Technology on stage: How becoming bionic will boost my acting career March 9, 2021 | City Talk We are often told how brand-new technology is changing humanity, but we rarely hear enough about how it is impacting individual humans. In December 2020 I joined a unique club of individuals who have been fitted with a 3D-printed bionic arm. The robotic arm is designed and manufactured by Bristol-based Open Bionics and mine was [...]
Impact-Weighted Accounting: the missing ingredient? March 9, 2021 | City Talk Sustainable investment capital increasingly demands evidence that positive impact is produced alongside positive financial return. Once adopted by investors, transparent impact metrics will initiate a rotation in portfolios that moves them away from ‘impact negative’ and toward ‘impact positive’ investments. This impact-driven rotation should produce environmental, social and governance (ESG) Alpha for investors. Impact is [...]
No more fifty shades of green March 8, 2021 | Sponsored For quite some time now the term ‘fifty shades of green’ has been used to describe the investor challenge of wading through a sea of sustainable investment options, from dark green, to light green to just plain green-washing. The sustainable investment sector has grown exponentially in recent years, and while I very much welcome the [...]
