Starling Bank launches euro debit card in challenge to Revolut October 30, 2019 Digital challenger Starling Bank has today launched a business euro account and a dual-currency debit card as it steps up preparations to expand into Ireland, in a challenge to fintech giant Revolut. Customers with Starling Bank debit cards will now have the option to spend directly in pounds or euros using a single card. Its [...]
Tiktok owner Bytedance denies having immediate plans for Hong Kong listing October 29, 2019 Bytedance, the $75bn Chinese firm behind short-form video app Tiktok, has denied reports it is considering an initial public offering (IPO) in Hong Kong as soon as next year. The Financial Times has reported that the seven-year-old startup could list in the territory as soon as the first quarter of next year, but Bytedance denied [...]
‘It can’t get any worse’: What City workers think of another General Election October 29, 2019 It’s that time again: Britain is on course for another General Election, after Labour leader Jeremy Corbyn announced he was ready to fight the “most radical election ever”. But Brits have endured more than three years of uncertainty since the EU referendum, and few groups of workers have felt the effects of it more sharply [...]
Investors butcher Beyond Meat despite first profitable results October 29, 2019 Shares in Beyond Meat plunged 20 per cent as the lockup period for early investors ended, despite the plant-based food company reporting its first quarterly profit. Beyond Meat shares dropped over 20 per cent in trading before the bell on Tuesday as around three quarters of its stock became eligible for trading, giving early backers [...]
Ruth Davidson says she won’t take lobbying role at Tulchan Communications October 29, 2019 Former Scottish Conservative leader Ruth Davidson has said she won’t take on a controversial lobbying role at Tulchan Communications. Davidson had faced calls to quit as an MSP after taking on the £50,000 advisory role, in which would have involved 24 days’ work a year. Read more: Lib Dem Heidi Allen to quit as MP [...]
Carrie Lam: Hong Kong set to record negative growth in 2019 October 29, 2019 Hong Kong leader Carrie Lam has said she expects the financial hub to record negative economic growth for 2019, as the territory grapples with ongoing and often-violent anti-government protests. Chief executive Lam was speaking two days after financial secretary Paul Chan said Hong Kong had fallen into recession and was unlikely to achieve any growth [...]
Treasury confirms taxpayers will foot bill for melted 50p Brexit coins October 29, 2019 The Treasury has confirmed the taxpayer will be footing the bill for the special 50p coins minted to commemorate Brexit on 31 October that are now set to be melted down. The Treasury confirmed to City A.M. that it was paying for the production and circulation of the coins, as they were due to become [...]
Keep retail investors in separate funds, says FCA head October 28, 2019 Retail investors could have their money separated from institutional funds to better protect individuals following the collapse of Neil Woodford’s investment empire, the head of the financial regulator has said. Financial Conduct Authority (FCA) chief executive Andrew Bailey said in an interview with The Times that he did not think the mixing of institutional and [...]
Assets under management fall for top firms but ESG bucks downward trend October 28, 2019 Assets under management (AUM) at the world’s largest managers declined overall in 2018 as subdued equity markets weighed on the industry, but those managed in Environmental, Social and Governance (ESG) mandates grew substantially. AUM at the 500 biggest firms fell three per cent during the year but those managed in ESG mandates rose 23.3 per [...]
Emerging markets need more say on digital currencies like Libra, says Chinese official October 28, 2019 Governments in emerging markets should be given a greater say in the regulation of digital currencies such as Facebook Libra that could facilitate illegal capital flows and disrupt foreign exchange management, said a senior Chinese official. China has been moving to embrace financial technologies such as blockchain, and is preparing to launch its own digital [...]
