Davos 2016: Why London fintech can transform the 21st century January 20, 2016 In recent years, there has been cynicism about the objectives of the World Economic Forum annual meeting at Davos, with reports of parties, private jets and closed-door discussions. However, the core purpose of the forum should not be dismissed in an era of global upheaval, tensions and economic uncertainty for billions across the developed and [...]
Manufacturers in the south east of England see M&A boom thanks to interest from overseas buyers January 20, 2016 Manufacturers in the south east of England are attracting the attention of overseas investors, sparking a surge in M&A activity. According to figures shown exclusively to City A.M. today by law firm Irwin Mitchell, which were based on analysis of data from Experian, M&A deals in the manufacturing sector grew by five per cent in [...]
Transport for London’s road boss Garrett Emmerson: This is why we ditched the five-minute rule (and are proposing 13 other changes) January 20, 2016 London’s minicab trade has fundamentally changed in recent years, with welcome advances in technology giving customers greater choice and convenience. However, partly as a result of this, the number of ‘private hire’ (PHV) drivers has also boomed, rising from 59,000 in 2009/10 to more than 95,000 today. To keep up with this transformation we recently [...]
Why Transport for London’s Uber plan to ignore the five-minute rule changes on PHVs is wrong-minded January 20, 2016 Following today’s announcement that the private hire (PHV) regulations review has been published and its recommendations watered down significantly, myself and the United Cabbies Group are disappointed that TfL never stood by their recommendations. It was TfL who wrote this document yet allowed lobbyists to derail some important and significant steps to ensuring both public safety and ensuring a level [...]
Financial Conduct Authority (FCA) bosses defend decision to scrap bank culture review January 20, 2016 Top bosses at the City regulator have defended their decision to scrap a review into Britain’s banking culture, and denied any Treasury involvement in the move. Members of the influential Treasury Committee are currently grilling Financial Conduct Authority (FCA) chairman John Griffith-Jones and FCA acting chief executive Tracey McDermott. Members of the committee had demanded the session earlier this month, after [...]
As challenger banks, fintech and digital payments take off, here are four reasons why 2016 will be the year banks are on the run January 20, 2016 Until recently, managing your money meant dealing with a bank. For both businesses and individuals they were pretty much the only game in town. But that’s no longer the case. Thanks to digital challengers, tech startups and the ongoing fallout from the financial crisis, banks face huge competition in all areas of their business. Each [...]
BP boss Bob Dudley: Oil prices falling to $10 “not impossible” January 20, 2016 BP's chief executive, Bob Dudley, has said it's "not impossible" oil prices will fall as low as $10 per barrel, as some analysts have predicted. Standard Chartered previously warned a worse-case scenario could see oil fall to this level, because its being moved by changes in other assets prices such as the US dollar and stocks, rather [...]
Canadian dollar jumps as Bank of Canada holds fire on interest rates despite further fall in oil prices January 20, 2016 The Bank of Canada kept interest rates on hold today despite widespread expectations of a cut. The Canadian dollar, also called the loonie, rose 0.7 per cent against the US dollar. It now buys $0.6891. Interest rates were kept at 0.5 per cent, with the Canadian central bank confident that the economy would quickly adjust [...]
Go on a virtual reality tour inside Buckingham Palace with Google Expeditions January 20, 2016 Ever wanted to see inside the Queen’s official residence? Now you can do it without having to be hassled by the throngs of other tourists, or having to leave your home at all for that matter. Buckingham Palace has become the first UK landmark to feature on Google Expeditions as the tech giant has teamed [...]
Victim of brutal stabbing outside Morden Tube station named as police investigation continues January 20, 2016 The victim of a brutal stabbing that took place outside Morden Tube station yesterday during rush hour has been named as Daniel Young. Young was stabbed as he made his way to work at around 8am, and police are urging commuters who may have seen something to get in touch. Detectives from the homicide and major crime [...]