Financial Conduct Authority ups vetting of senior bankers March 9, 2020 The number of interviews the Financial Conduct Authority (FCA) has held to vet staff proposed for senior roles at financial services firms jumped 27 per cent to 233 in 2018. FCA data provided to employment law firm Fox & Partners showed the number had risen from 183 the previous year. The law firm said the [...]
Flybe’s last flight: How Europe’s biggest regional airline met its demise March 9, 2020 At 8.30pm on Wednesday evening, passengers were still being ushered onto planes bearing the indigo livery of Flybe. Half an hour later, members of the cabin crew on one of its last ever flights, from Manchester to Belfast, were crying, having just lost their jobs. “Staff in tears. This is so grim,” tweeted Holly Hamilton, [...]
Sequoia crypto fund Paradigm makes first Europe investment with London startup Argent March 9, 2020 A cryptocurrency-focused fund backed by unicorn investor Sequoia Capital has led a $12m (£9.2m) funding round for digital wallet startup Argent. Paradigm has now joined Silicon Valley stalwart Index Ventures, Creandum and Firstminute Capital — who also participated in the round — as Argent’s newest backer. The series A investment also marks Paradigm’s first investment [...]
New government cyber unit to grill social media firms over coronavirus fake news March 9, 2020 The government has set up a new cyber team to crack down on the spreading of fake news linked to the coronavirus outbreak on social media platforms. Departments across Whitehall have been brought in to form a new unit aimed at assessing the potential extent, scope and impact of fake news. The team will also [...]
Mobile networks reach compromise over rural mast-sharing plans March 8, 2020 The UK’s mobile networks have signed off on a deal to banish so-called signal not spots in rural areas, despite squabbling over how to split the costs of the venture. Chancellor Rishi Sunak is set to unveil the £1bn agreement in the Budget on Wednesday as part of a plan to improve 4G coverage across [...]
Coronavirus claims third victim in the UK March 8, 2020 A man in his 60s has become the third person to die from coronavirus in the UK. The man who had “significant” underlying health conditions was being treated at North Manchester General Hospital. Professor Chris Whitty, chief medical officer for England, said: “I am very sorry to report that a third patient in England who [...]
Coronavirus: Foreign Office changes travel advice after lockdown in Italy March 8, 2020 The Foreign Office has changed its travel advice stating that it advises against all but essential travel to parts of the country. Following the lockdown in northern regions, the government has advised against travel to the Lombardy region, which includes the city of Milan, and other regions in lockdown. It faced backlash after advising against [...]
Prudential plans sale of stake in US arm March 8, 2020 Prudential is planning a sale or partial float of its US insurance business as it faces pressure from an activist hedge fund to focus on Asia. The London-based insurance giant is set to lay out plans to sell a stake in US firm Jackson, which it has owned since 1986, the Sunday Times reported. The [...]
Surge in female SME owners as gender gap narrows March 8, 2020 International Women’s Day has been capped off by a report today showing a surge in the number of female owners of small and medium-sized enterprises (SME) over the past year. The analysis of more than 1.4m small businesses revealed the number of SMEs owned by women rose 31 per cent in 2019, according to SME [...]
Can interest rate cuts help economies deal with coronavirus? March 8, 2020 Last Tuesday, the coronavirus outbreak drove the US Federal Reserve to do something it hadn’t done since the 2008 financial crisis: slash interest rates in an emergency move. Fed chair Jay Powell said rate-setters had “come to the view that it is time for us to act in the support of the economy”. The economic [...]
