Forget Berlin, Dublin and Paris – Asia’s a bigger rival to London fintech regardless of Brexit January 26, 2017 As Germany, France and Ireland attempt to woo London's fintech firms to their respective capital cities after the Brexit vote, one of the UK's top VCs has warned the industry should be more concerned with the rise of Asia as a fintech powerhouse rather than other European cities. In the long-term, the continent's prominence in financial technology is likely [...]
Barclays is reportedly preparing to move its EU headquarters to Dublin January 26, 2017 Barclays is planning to move its EU headquarters to Dublin, according to sources. The bank is preparing for the relocation ahead of Brexit, Reuters reported. "We have made clear repeatedly that we will plan for a range of Brexit contingencies, including building greater capacity into our existing operations in Dublin," a spokesman for Barclays said. [...]
RBS to be hit by multi-billion-pound charge for mis-selling mortgage-backed securities January 25, 2017 RBS is set to be hit by a new multi-billion-pound charge for mis-selling mortgage-backed securities. A formal statement confirming the charge could come as soon as today with RBS directors expected to discuss the move in a board meeting this week. The charge could be between $3bn (£2.4bn) and $4bn, sources told Sky News last night. The [...]
Is blockchain a “new operating system for the planet”? Barclays vice chairman Jeremy Wilson thinks so January 25, 2017 Blockchain has the potential to become “a new operating system for the planet” in a generation’s time, while mainstream commercial use is likely to happen within the next decade, one of Barclays’ top executives believes. “I don’t think I’ve heard it mentioned as anything other than a significant opportunity,” said its corporate banking vice-chairman Jeremy Wilson. [...]
Surge in spoof humour book sales boosts WH Smith on the high street – but travel’s still the stationer’s lifeblood January 25, 2017 Well, it couldn't rely on adult colouring books forever, could it? The fad around adult colouring books might be slowing, but WH Smith has instead seen a surge in sales of spoof humour books, such as Five on Brexit Island and Five Give Up the Booze, spoofing Enid Blyton's The Famous Five. There's also the Ladybirds for Grown-Ups series, [...]
Pay-as-you-go insurtech startup Cuvva has raised cash from a top VC January 25, 2017 A fintech startup offering motorists flexible pay-as-you-go insurance by the hour as landed new investment from one of the UK's top venture capitalists. London-based Cuvva has landed £1.5m seed capital from Robin Klein's LocalGlobal, a backer of Zoopla and Citmapper, to target urban drivers who use their cars infrequently and tapping into the same habits which [...]
The year of the stock picker: Which value shares look underpriced in 2017? January 24, 2017 We've heard it before. When there is greater volatility and more dispersion in the market, canny investors should be able to beat the index. The great rotation in equities which markets are anticipating due to looser fiscal policy and higher interest rates under Donald Trump is filling active managers with optimism that they can use [...]
The number of female executives at BFGEI member firms increased by a quarter in one year January 23, 2017 The number of female executives increased by more than a quarter between fiscal year 2014 and 2015, according to figures released today by Bloomberg. The group's 2017 Financial Services Gender-Equality Index (BFGEI) found an average of 24.2 per cent female representation on the 52 boards it surveyed, which include Barclays, American Express and Royal Bank of Scotland. Read more: The [...]
Theresa May and Philip Hammond stick up for the City in Davos after banking job threats over Brexit January 19, 2017 Prime Minister Theresa May and her chancellor Philip Hammond came out fighting at Davos yesterday following reports that London’s banking sector faces job losses in the wake of Brexit. Ahead of a crunch meeting between May and global investment banking bosses including Lloyd Blankfein, German newspaper Handelsblatt said that Blankfein’s bank – Goldman Sachs – could [...]
Brexit hit to operations expected by institutional investors but they will continue to hold UK assets, according to “Brexometer” January 19, 2017 Big institutional investors think Brexit will change their operating models but are determined to hold on to UK assets despite fears of a slowdown, according to a new survey. Of the institutional investors surveyed by State Street for its new “Brexometer” poll, 80 per cent expect Brexit to impact their operations, as the UK faces [...]