London overtakes New York to steal global fintech investment crown September 23, 2019 London has overtaken New York to become the world’s number one city for investments in fintech firms, new figures have revealed. In the first eight months of the year alone, London has attracted 114 investments with a record-breaking value of more than $2bn (£1.6bn), according to industry body Innovate Finance and the mayor’s promotional agency [...]
UK households most pessimistic about finances in almost six years September 23, 2019 UK households are the most pessimistic they have been about their financial outlook for almost six years, with job security perceptions also deteriorating. Households’ outlook for finances dropped to its weakest level since November 2013, according to IHS Markit’s UK Household Finance Index. Read more: UK households’ inflation expectations at highest in six years, survey [...]
No business is an island in the fight against climate change September 23, 2019 Last Friday, adults joined forces with students to inspire a call to action on the Earth’s climate and ecological emergencies. More than a thousand Amazon employees planned a walkout, and we saw the Trade Union Congress urge their members to support climate strikers. Regardless of what you think of people taking time off work to [...]
Fintechs are moving at such break-neck speeds that they’re struggling to mitigate the risks September 23, 2019 The “challenger” moniker has been given to a new generation of financial brands because they are disrupting the status quo set by the financial institutions of the past. But it may be that the speed at which these tech-focused firms are expanding will leave them open to significant risk in the near future. In fact, [...]
UK fintechs attracting rising investment despite Brexit uncertainty September 23, 2019 UK fintechs are raising increased levels of investment despite domestic and global uncertainty, but the sector is still struggling with recruitment of talent and a significant gender imbalance, new research has found. The total average investment raised so far this year by fintech firms grew a third compared to the same period two years ago, [...]
Why Softbank is struggling to attract investment for its second Vision Fund September 22, 2019 Softbank’s Vision Fund was created to disrupt the tech sector – and it succeeded. Launched in 2017, the $100bn (£80.2bn) investment vehicle is the world’s largest tech fund, and made Softbank chief Masayoshi Son the industry’s biggest investor. The unicorn ‘kingmaker’ The gargantuan Vision Fund (VF) quickly became known for making bold bets on promising [...]
Hargreaves Lansdown founder slams Neil Woodford for not being ‘truthful’ about frozen fund September 22, 2019 One of the founders of Hargreaves Lansdown (HL) has slammed beleaguered asset manager Neil Woodford for apparently not being “truthful” about the performance of his flagship fund in the run up to its suspension. Peter Hargreaves, who founded the financial services firm alongside Stephen Lansdown in 1981, also criticised HL for not having realised that [...]
Why M&S’ relegation from the FTSE 100 doesn’t mean the death of the High Street September 20, 2019 | City Talk Marks and Spencer (M&S) is set to be relegated from the FTSE 100 after the close of business today. This will be the first time that the company has lost its blue chip status. The UK retailer was a founder member of the FTSE 100 and a stalwart of the UK High Street. But its [...]
DEBATE: Should companies be supportive of employees who want to take part in today’s climate strike? September 20, 2019 Should companies be supportive of employees who want to take part in today’s climate strike? YES, says Amelia Womack, deputy leader of the Green Party. Climate chaos does not mean business as normal, and it’s especially important that the business community sends this message. Already, the climate emergency is likely to cost the world’s largest [...]
Tate & Lyle agrees £930m ‘de-risking’ pension deal with Legal & General September 19, 2019 Food and drink ingredient supplier Tate & Lyle has agreed a £930m annuity insurance “buy-in” with Legal and General. Tate & Lyle has transferred its pension scheme so it is underwritten by the financial services giant, which it said would provide “certainty and security” for its affected members. Read more: Tate & Lyle reports flat [...]
