Tandem digital bank granted licence by the Bank of England November 30, 2015 Another digital bank is has been granted a licence to operate in the UK. Tandem, a digital retail bank, has been given its licence by the Bank of England and will now begin the process of constructing its technology platform and meeting capital requirements. Ricky Knox, co-founder of Tandem, said: “We are very excited to [...]
Pension providers in survival of the fittest showdown as market merges, with a small number of players controlling most of the total assets under management by 2020 November 30, 2015 The market for auto-enrolment scheme providers will be dominated by a handful of major players by 2020. According to a report released today by the Pensions Institute at Cass Business School, fewer than 10 organisations will form a premier league of providers, controlling 90 per cent of total assets under management. “By 2020 several well-known [...]
Chancellor George Osborne and business secretary Sajid Javid vow to boost competition in 11 sectors including banking, broadband and energy November 30, 2015 British families could save £470 a year thanks to a new government plan to boost market competition, chancellor George Osborne and business secretary Sajid Javid have said. In a joint announcement today, Osborne and Javid will reveal a new, 25-page document intended to create more competitive business conditions – something they say will bring down [...]
The Autumn Statement contained some significant wins for business and the City November 29, 2015 George bails himself out” was the front page headline of this very paper last Thursday as businesses up and down the country digested the impact of the Autumn Statement. While the U-turn on tax credits dominated much of the coverage, there was a lot of content announced by the chancellor from the despatch box that [...]
AB InBev looking to head off the regulator by selling off SABMiller beer brands November 29, 2015 Anheuser-Busch InBev is looking to avoid a tussle with the regulator by selling off SABMiller’s Peroni and Grolsch brands, it’s being reported. This month AB InBev made a formal offer to buy rival SABMiller for £44 a share. The announcement comes after months of negotiations, and several extended deadlines from UK regulators. The tie up, [...]
Breaking old habits could save you thousands on international transfers November 26, 2015 Our financial affairs are exposed to many variables. Recent stock market movements have certainly served as a good reminder of this fact. Today, as increasing numbers of us conduct both personal and business transactions abroad, foreign exchange markets provide an added element of financial uncertainty. But while the currency market can be volatile, there are [...]
Autumn Statement 2015: George Osborne’s speech transcript in full including stamp duty, business rates and corporation tax announcements November 25, 2015 Mr Speaker, this Spending Review delivers on the commitment we made to the British people that we would put security first. To protect our economic security, by taking the difficult decisions to live within our means and bring down our debt. To protect our national security, by defending our country’s interests abroad and keeping our [...]
Why Japan’s fintech startups are turning to London November 24, 2015 There are a few major reasons why I decided to start my business in London instead of Tokyo. Firstly, the UK’s fintech scene is open, fairer and more equal and there’s many opportunities to network and engage with the community in London. All of these factors are contributing to greater competition, creating more synergy and [...]
Why good governance is now a key investment differentiator November 23, 2015 In a recent Aberdeen Asset Management study conducted among 300 global financial decision-makers, governance was found to be an integral factor when selecting and analysing investments. Almost 90 per cent of respondents considered effective governance to be a critical driver of investment performance. That governance should lie at the heart of investment decision-making is [...]
House of Lords select committee questions Google over attitude towards competition November 23, 2015 Representatives from Google were questioned today by a House of Lords select committee, including about whether the technology giant’s search engine market prominence gave it an unfair level of control over the access of online content. Adam Cohen, head of competition and economy policy for EMEA at Google, and Jon Steinberg, external relations manager, EMEA, were giving [...]