Lack of clarity over AI definition ‘will confuse’ regulators October 8, 2019 The lack of clarity over what technology is classed as artificial intelligence (AI) poses a major challenge to future regulation in the financial services industry, a new report has warned. Read more: UK must adapt to automation or firms will suffer, MPs warn Research by the International Regulatory Strategy Group (IRSG) found that the lack [...]
Ex-Tory MP Heidi Allen joins Liberal Democrats October 7, 2019 Former Conservative MP Heidi Allen has joined the Liberal Democrats, the party announced this evening. The MP for South Cambridgeshire left the Conservative Party in February 2019 over its stance on Brexit. She plans to contest her seat as a Liberal Democrat when an election is announced. Read more: Ex-Change UK MPs set up new [...]
Tide secures £44.1m in ‘one of the largest ever’ fintech series B funding rounds October 7, 2019 Fintech company Tide has raised £44.1m in its first round of Series B equity funding in a bid to increase its business banking market share. Read more: Scottish fintech paysend closes £8.5m series B round Tide announced it had secured the funding yesterday in what it is calling “one of the largest ever” series B funding [...]
Number of deepfake videos online almost doubles October 7, 2019 The number of “deepfake” videos – which use artificial intelligence technology to superimpose images onto existing footage – on the internet has surged over the last nine months. Researchers at cyber security firm Deeptrace found 14,698 deepfake videos online last month, compared to 7,964 in December last year. Read more: The threat of deepfake videos [...]
Kaspi.kz IPO: Kazakh fintech postpones London float October 7, 2019 The London float of Kazakh fintech group Kaspi.kz has been postponed due to “unfavourable market conditions” in the technology sector. Read more: Fund veteran Martin Gilbert leaves Standard Life Aberdeen to join Revolut The initial public offering (IPO) was set to be the largest by a Central Asian company on the London Stock Exchange (LSE) [...]
Trading places: A tour around the new £1bn Goldman Sachs London HQ October 7, 2019 For Goldman Sachs bankers used to living life in the fast lane, the slow lifts at their recently-opened London HQ are a new source of frustration. “Don’t get me wrong, the place is great, but it takes two minutes just to go up a few floors,” grumbles one employee. Read more: Why Transferwise denied a [...]
Billionaire Michael Spencer buys stake in The Tote October 7, 2019 Billionaire Michael Spencer is set to buy a substantial minority stake in the soon-to-be parent company of The Tote bookmaker. The financial services entrepreneur will buy a 10 per cent stake in the recently formed Alizeti consortium, which is poised to buy The Tote from betting giant Betfred. Read more: City bigwig Michael Spencer blasts [...]
Unilever pledges to cut plastic use in half October 7, 2019 Unilever has pledged to halve the amount of new plastic it uses over the next five years by increasing its efforts in producing reusable and recyclable packaging. The consumer goods giant, which owns brands such as Dove and Ben & Jerry’s, said it will reduce its use of plastic packaging by more than 100,000 tonnes [...]
PM to wave through Corbyn’s election meeting request October 7, 2019 The Prime Minister is backing a request by Labour leader Jeremy Corbyn to hold a series of meetings with senior civil servants, as the two parties edge towards calling a snap election. According to Politico, the leader of the opposition has requested these meetings, in the event that he forms a government in the coming [...]
Schroders and Lloyds JV appoints IG Group boss as CEO October 7, 2019 The wealth management joint venture between Schroders and Lloyds Banking Group has appointed former IG Group boss Peter Hetherington as its new chief executive. Hethrington worked at IG for 25 years after joining the firm as a graduate trainee and spent 13 years as its chief operating officer and executive director before taking the top [...]