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 [...]
NBA slammed for ‘shameful retreat’ over Hong Kong protest tweet October 7, 2019 The National Basketball Association (NBA) has come under fire after distancing itself from comments made by one of its team’s senior executives in support of protests in Hong Kong. Daryl Morey, general manager of the Houston Rockets, was forced to apologise after his hastily-deleted tweet sparked anger in Beijing. Read more: Hong Kong: Government bans [...]
BBC tried to block Ofcom probe into Naga Munchetty impartiality row October 7, 2019 Ofcom has slammed the BBC’s “lack of transparency” after the broadcaster attempted to block the regulator’s investigation into an impartiality row. BBC director general Tony Hall last week reversed the corporation’s decision to partially uphold a complaint into Breakfast presenter Naga Munchetty over her comments about US President Donald Trump. Read more: BBC plots iPlayer [...]
Oh (dough) balls: Twitter’s scared Pizza Express will fold like a calzone October 7, 2019 Pizza Express fans were thrown into panic today following reports the restaurant chain has called in financial advisers over its mounting debt pile. The firm has hired advisers from Houlihan Lokey ahead of talks with creditors, while a group of secured bondholders has tapped Perella Weinberg Partners, Bloomberg reported, citing people familiar with the matter. [...]
How BBC plans to overhaul iPlayer for the Netflix age October 7, 2019 The BBC is gearing up to overhaul its on-demand iPlayer service as it braces for an onset of newcomers in the crowded streaming market. The corporation is planning to reposition the iPlayer as the main access point for its services amid a decline in traditional TV viewing among younger audiences. Read more: Ofcom gives green [...]
UK property investors fear Brexit will push away foreign buyers October 7, 2019 The majority of UK property investors are concerned Brexit will deter overseas buyers from snapping up real estate in Britain, a new survey has revealed. Read more: Housing market uncertainty persists as property transactions remain flat More than half of investors said they were concerned about a decline in transactions from foreign buyers, which in [...]
Natwest launches UK’s first biometric fingerprint credit card October 7, 2019 Natwest has become the first UK bank to launch a biometric credit card that allows contactless payments using a fingerprint for verification. The cards have entered into circulation today as part of a three-month trial with 150 customers. It comes after a successful trial of biometric debit cards. Read more: Natwest customers wrestle with IT [...]
Softbank boss Masayoshi Son ‘embarrassed’ by track record October 7, 2019 Softbank chief executive Masayoshi Son has admitted that he is “embarrassed and flustered” by his track record at the Japanese conglomerate. Read more: Softbank’s second fund hit by failed Wework listing In an interview with local media, Son said he felt that his accomplishments at Softbank had not yet lived up to his goals. “When [...]
The next Bank of England governor must be prepared for a political storm October 6, 2019 When Dame Helena Morrissey revealed she was standing down from Legal & General last week, the City rumour mill was sent into overdrive. The Square Mile veteran and champion of boardroom equality said only that “in a changing Britain” she had “a lot of ideas and other things to achieve”. This rather enigmatic sign-off will [...]
Openreach shelves board overhaul amid concerns over BT links October 6, 2019 Openreach is said to have shelved plans to overhaul its board amid concerns the move would erode its independence from BT. Read more: Ofcom gets the green light for new Openreach broadband regulation The telecoms network business, which was spun off from BT last year, has been looking to appoint BT’s strategy chief Michael Sherman [...]