After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
A fintech cluster greater than the sum of its parts June 26, 2017 One of Europe’s largest financial centres and an international technology hub, Edinburgh will play a leading role in driving the UK’s £20bn fintech industry and shaping a fast-moving global industry. Edinburgh’s financial credentials are beyond question. As the UK's second largest financial services centre, and the fourth largest in Europe, the city claims the lion’s [...]
London is home to more of the hottest fintech startups than ever before according to the Fintech50 2017 June 7, 2017 London’s status as the world leading centre of fintech has been questioned in the wake of Brexit, but new figures suggest the capital continues to be a global powerhouse for financial technology. The city has produced more of the hottest fintech startups than ever before, with over half of the Fintech50 calling it home. Challenger [...]
Airbnb, Amazon, peer to peer lending and universities: There’s a simple reason why no sector is immune from radical change April 10, 2017 If you were to ask an economist why financial institutions or food retailers exist, I wonder if the answer would go beyond that which would be offered by a random person travelling on the Tube. Answers might include “to provide bank loans, insurance and savings products” and, in the case of food retailers, “to provide [...]
Trouble in store: More pain on the way for UK retail April 10, 2017 A triple-blow of tax hikes, rising costs and a squeeze on consumer spending is threatening to wipe out thousands of British retailers, with a string of familiar high street names expected to fall into administration this year. Nearly 23,000 retailers were under significant financial stress at the end of the first quarter according to insolvency [...]
Free banking threatened by new global financial reality says International Monetary Fund (IMF) April 6, 2017 Free banking services could become a thing of the past as falling demand for credit from consumers makes it less attractive for banks, according to the International Monetary Fund (IMF). In a broad-ranging investigation of the effect of a global economic climate of low growth, low interest rates on financial services, the IMF said the [...]
Government sells Bradford & Bingley loans for £11.8bn to Prudential and Blackstone after a “highly competitive sale process” | City A.M. March 31, 2017 The government has sold £11.8bn of Bradford & Bingley loans to insurance giant Prudential and US private equity behemoth Blackstone. The loans were bought by the UK taxpayer during the financial crisis and have been managed by the UK Asset Resolution (UKAR) on their behalf. Prudential and Blackstone prevailed in what the Treasury called a [...]
How nine City experts reacted to Philip Hammond’s NIC u-turn March 15, 2017 It's official: Philip Hammond has bowed to criticism and scrapped his controversial plans to hike National Insurance Contributions for the self-employed. Reactions from have varied, from confusion to outright glee. Here's how nine of the City's most important organisations reacted. Read more: Hammond's U-turn on National Insurance hike plans – read his letter in full [...]
Now fintech startup Revolut is getting into loans March 14, 2017 Fintech startup Revolut has partnered with a peer-to-peer lender to offer loans to users, its newest product in addition to a current account and money transfers. With Lending Works, it will offer loans of up to £5,000 at a rate of 9.9 per cent APR over 12 months. The credit facility is instant, if approved, with [...]
Innovation never stops: What’s next for the tech startups in Bird & Bird’s Digital Innovators showcase pushing boundaries? March 14, 2017 When Bird & Bird and City A.M. sought to unearth, and then celebrate, the most innovative digital companies shaking up the worlds of finance, health, education, media and security, we knew the collective 20 companies we found were an outstanding demonstration of the UK’s leadership in cutting edge technology. Now, just four months on, the visionary founders [...]
Budget 2017: The full text of chancellor Philip Hammond’s speech March 8, 2017 Philip Hammond has delivered his first – and last – Spring Budget. Headline announcements included more cash for social care and punishing new rules for the self-employed – plus some vague comments on business rates. Read more: City A.M.'s TL;DR version of the Spring 2017 Budget Here's what he said: Mr Deputy Speaker, I report [...]