Property transactions fall in May as end of stamp duty holiday cools market June 22, 2021 UK residential property transactions fell in May, with buying and selling in the coming months likely to reduce further as the stamp duty holiday ends. There were 114,940 residential property transactions in May, according to ONS figures, some 3.9 per cent lower than in April 2021. House prices have boomed in the last year due [...]
Manufacturing output grows at fastest rate on record in last quarter June 22, 2021 Increased production of cars, foodstuffs, and drinks helped the UK’s manufacturing output grow at the fastest pace ever recorded in the last three months. According to the CBI’s latest Industrial Trends survey, output grew in 15 out of 17 sectors, with volumes up 37 per cent in total over the period. That’s the fastest rate [...]
Watchdog warns Monzo and NatWest over banking transaction history breaches June 22, 2021 Britain’s competition watchdog has issued a warning to banks including Monzo and NatWest over breaching rules requiring them to send banking transaction histories to former account holders. Nearly 150,000 customers were not provided with the necessary information quickly enough, the Competition and Markets Authority (CMA) said today. Monzo was responsible for the largest portion of [...]
China crackdown continues though Bitcoin decline slows June 22, 2021 Bitcoin, Ethereum, and other cryptocurrencies are all trading lower again today, with the alt markets seeing particularly large drops. Bitcoin is currently down 3% over the last 24 hours and more than 20% over the last week, though its market dominance is actually up again from 45% to 47% as others take a bigger hit. [...]
EU commissioner says the bloc is not trying to steal business from City of London June 22, 2021 The EU’s financial services chief has said Brussels is not trying to steal business and investment from the City of London and that they are not pursuing a protectionist policy on financial services. Mairead McGuinness, EU commissioner for financial services, also said today that Brussels will look again at equivalence for the City later this [...]
Youtube handed major victory in EU copyright battle June 22, 2021 The EU has ruled that Youtube is not responsible for copyright-infringing material uploaded to its platform by users, marking a major victory for the social media firm. Music producer Frank Peterson took Youtube and parent company Google to court in Germany after users uploaded several phonograms to which he owns the rights in 2008. Publisher [...]
T-Shaped Teams and the Three Stages of AI Adoption June 22, 2021 AI and data science will probably bring about the most significant changes to the financial services industry that the industry has witnessed in its short history. Yet, today, many financial institutions are still struggling to find their way to start the AI journey1. We propose a concept called T-shaped teams (See Exhibit 1) as the [...]
UK aviation industry sets new decarbonisation goals June 22, 2021 The UK aviation industry has today set out its first ever interim decarbonisation targets as the sector sets a course for achieving net zero emissions by 2050. By 2030, the sector will look to reduce emissions by 15 per cent compared to 2019’s levels, and by 2040 it is aiming for a 40 per cent [...]
Murdoch’s News UK ‘held talks’ over BT Sport tie-up June 22, 2021 Rupert Murdoch’s News UK is said to have eyed up a partnership with BT’s TV division as the mogul looks to secure the future of his media empire. News UK, which publishes The Sun and The Times titles, held talks with the telecoms giant over a potential tie-up with BT Sport. Bankers from Lazard were [...]
Bumble closes for a week to let staff recover from Covid burnout June 22, 2021 Dating app Bumble has temporarily closed its offices this week to give its 700 employees the chance to de-stress and recover from Covid burnout. The dating app, where women are in charge of making the first move, told its staff worldwide to switch off and focus on themselves. The decision was praised by Bumble’s head [...]
