Rising interest rates sees mortgage arrears tick up as repossessions jump May 18, 2023 The number of households falling into arrears continued increasing in the first quarter as rising interest rates continued to hit borrowers. According to figures from industry body UK Finance, arrears picked up in the first quarter with mortgages in arrears of more than 2.5 per cent reaching 76,630. This was a two per cent increase [...]
Explainer: Who will pay £10bn to fix the sewage scandal? May 18, 2023 Imagine some multi-billion company was throwing untreated sewage into your local river, then got caught, said they were sorry, and asked you to pay to clean it up. Welcome to Britain in 2023. Water UK, the industry body for water companies, today apologised for all the raw sewage spillages, and committed £10bn to be spent [...]
Why human centaurs and data provide the advantage in the AI age May 18, 2023 Sergio Gago of Moody's Analytics says the impact of AI on the financial industry is poised to be transformative.
Blockchain can help fix carbon credits market, experts argue – but is it enough? May 18, 2023 Experts have suggested that blockchain could provide a way to improve the fractured carbon credit markets and help markets move towards a more sustainable future. Jeff Ren, OKX Ventures partner, told City A.M. that the “immutable nature of the dataset created and stored” by a blockchain could combat the fragmented and opaque carbon credits market. [...]
Problem with the UK’s automotive sector ‘isn’t to do with Brexit’, says Kemi Badenoch May 18, 2023 Business and trade secretary Kemi Badenoch has said the issue with the UK’s automotive sector “isn’t to do with Brexit”, as Labour pressed the government for an “explicit industrial strategy”. Her comments came as shadow business secretary Jonathan Reynolds warned that the “automotive sector has issued warning cry after warning cry that government policy risks [...]
Why so secretive? Sunak blasted for ‘surreptitious’ industrial strategy May 18, 2023 A set of cross-party former business secretaries have launched a stinging attack on Rishi Sunak over his apparent lack of a cohesive industrial strategy. Ex-ministers Greg Clark, Peter Mandelson and Vince Cable told the Financial Times the Prime Minister was being so “surreptitious” that his strategy for industry was a “guilty secret”. Clark, Conservative business [...]
900 City of London Corporation staff to strike this month – with Tower Bridge, Barbican and Old Bailey impacted May 18, 2023 Workers at tourist attractions across London are to strike in a dispute over pay. The GMB union said 900 of its members employed by the City of London Corporation will walk out on May 25 at attractions including Tower Bridge, Barbican, museums, gardens, parks and markets after voting overwhelmingly in favour of industrial action. The [...]
Why the network state is the next logical evolution to current forms of governance: Part 2… May 18, 2023 Dr Chris Kacher with his second instalment of 'The Network Web3/Blockchain/Money State' as he hails decentralisation.
SP Hinduja: Tributes to patriarch of Britain’s richest family who dies aged 87 May 18, 2023 The patriarch of one of Britain’s richest families has died at the age of 87, his family say. Businessman Srichand Hinduja, whose family topped 2022 Sunday Times Rich List and was said to be worth more than £28 billion, “passed away peacefully” on Wednesday “looked after” by relatives, a family spokesman said. The spokesman described [...]
Bitcoin back above $27,000 with conviction as wider crypto markets turn green May 18, 2023 Bitcoin continues to find support above the $27k level after the flagship cryptocurrency gained three per cent this morning.
