Meet the new City minister September 8, 2025 Lucy Rigby KC MP takes over responsibility for financial services policy but who is the ex Slaughter & May minister? Who is the new City Minister? “I specialised in competition law and spent time in the City, at the regulator and at Which?, which gave me particular insight into how markets and regulation work – [...]
Challenger banks face ‘profitability trap’ at growth crossroads September 8, 2025 The UK banking sector faces a profitability roadblock that will give the industry’s challengers an “existential” turning point. Fresh data from KPMG suggests the industry’s average return on equity will fall to eight per cent come 2027 down from 13 per cent four years prior. This is set to spark an £11bn reduction in pre-tax [...]
Shadow business secretary slams Uber Eats for migrant comments September 6, 2025 Shadow Business Secretary Andrew Griffith has hit out at Uber Eats for saying that a crackdown on illegal migration will cause takeaway prices to rise. Takeaway apps have become a route for undocumented workers to earn a living in the UK, with illegal workers drawn to the industry by historically limited right to work checks. [...]
Kendall faces tough test to rescue UK’s broken AI policy September 5, 2025 Liz Kendall is expected to replace Peter Kyle as science and tech secretary in a major reshuffle by Keir Starmer, inheriting one of the government’s most urgent briefs: artificial intelligence. Kyle is reportedly moving to the Department for Business, with the skills brief carved out of the Department for Education. His departure from the tech [...]
Trump’s tech love-in highlights Musk rift as Silicon Valley backs AI push September 5, 2025 President Donald Trump’s White House dinner with the chiefs of the US’s biggest tech companies was meant to showcase unity between the president and Silicon Valley. Instead, the glaring absence of Elon Musk underscored the growing rift between the one-time allies as rivals like Apple’s Tim Cook and OpenAI’s Sam Altman lined up to praise [...]
UK firms race into AI as Peter Kyle urges regulators to keep pace September 5, 2025 Tech consultancy firm Capgemini has urged that, despite businesses racing to roll out generative artificial intelligence (genAI), most remain aptly unprepared for the governance challenges it will bring. This warning comes just as the UK government leans on the technology to sharpen its competitive edge and cut red tape. The French consultancy’s AI survey, published [...]
Young men more likely to use AI to guide investment decisions September 4, 2025 Young men are more likely to use AI to guide their financial decisions compared to older generations and women. Men aged 18-34 are also increasingly likely to turn to AI for financial advice, than older generations, according to wealth management company Handelsbanken. Around a quarter of respondents who used AI admitted it was an alternative [...]
British billionaire trader offers interns £26k a month September 4, 2025 A billionaire trader has said interns at his trading empire would be paid $35,000 (£26,000) as firms fight to snap up the best tech talent. Alex Gerko, boss of XTX Markets, is offering postgraduates a 12 to 14-week research internship where they could pocket between $105,000 and $122,500. The position, a role commanding four days [...]
Revolut deepens Google Cloud partnership amid ambitious growth plans September 4, 2025 Revolut has announced an expanded partnership with Google Cloud, aiming to scale its services to over 100m customers while enhancing product innovation through AI and machine learning. The fintech giant, which currently serves over 60 million users globally, will leverage Google’s infrastructure to improve back-end operations, fraud detection, and personalised customer experiences. Revolut will harness [...]
Cryptoasset regulation is a make or break moment for the City of London September 4, 2025 The UK must rapidly adjust to new digital assets technologies like crypto or risk losing our place as a global financial hub.