Self-driving startup FiveAI launches commuter trials on London streets October 24, 2019 British startup FiveAI has today announced the launch of commuter research trials for its self-driving car technology, alongside motor insurance giant Direct Line. As part of the Streetwise Consortium, which also includes TRL, a 19km self-driving research route featuring human passengers will be launched in Croydon and Bromley to test out the technology. The invite-only [...]
Supermarket chain Iceland takes a hit as insurers freeze out suppliers October 20, 2019 Suppliers to supermarket chain Iceland are said to have had their insurance cover cut amid concerns about the impact of Brexit on the company’s supply chain. Paris-based insurer Euler Hermes reduced the credit cover it provides to Iceland’s suppliers over the summer, while rival Atradius is also mulling a possible cut, the Sunday Times reported. [...]
Asda offloads pensions in £4bn deal as it eyes stock market float October 17, 2019 Asda owner Walmart is said to have secured a deal to offload £4bn of the UK supermarket’s pension liabilities as it looks to clear the path for a potential stock market listing. Read more: Asda employees stage fresh protests over contract changes Walmart and Asda’s pension trustees have agreed a £3.8bn buy-in with specialist insurance [...]
PPI claims drive surge in company complaints October 17, 2019 More than 4m complaints were made to firms in the first half of this year, driven by a surge of payment protection insurance (PPI) claims. The UK’s financial watchdog has reported 4.29m complaints for the first six months of 2019, rising from 3.91m during the second half of last year. Read more: Banks struggle with [...]
Moneysupermarket share price sinks as it warns of money segment weakness October 17, 2019 Moneysupermarket’s share price dropped 10 per cent today as product availability problems hampered one of its core businesses. The comparison website’s money division shrank five per cent to £20.6m for the three months to the end of September, the comparison site said in a trading update. Read more: How to avoid the grey suit mentality [...]
Soaring corporate debt levels threaten financial stability, IMF warns October 16, 2019 The global financial system is at risk from ballooning levels of corporate and emerging market debt caused by ultra-low interest rates, the International Monetary Fund (IMF) has warned. Read more: IMF warns global growth will fall to lowest level since financial crisis The IMF cautioned that in a downturn half as severe as 2008, $19 [...]
Want to ensure Britain’s future prosperity? Stop taking wealth creators for granted October 15, 2019 Last month, the UK reported record numbers of people in employment. With all the Brexit noise, it was easy to miss this incredible news. But a healthy jobs market is of critical importance to society. As a barometer of success, employment is for some (including me) more important than any other figure, including GDP. And [...]
Climate activists target bankers during second week of protest October 14, 2019 Hundreds of climate protesters shut down traffic at the heart of the City today, accusing the financial sector of “bankrolling the environmental crisis”. Read more: Extinction Rebellion targets Blackrock in day of City protest Activists from protest movement Extinction Rebellion gathered in the rain at around 7am to begin a “day of disruption” that saw [...]
Extinction Rebellion targets Blackrock in protest over ‘climate criminals’ October 14, 2019 Extinction Rebellion protesters today targeted the London headquarters of Blackrock as they set their sights on the City over its role in what they describe as a looming environmental emergency. Climate activists glued themselves to the doors of the asset management giant, while others staged a mock dinner party with rolled up banknotes on their [...]
DEBATE: Are great startups always about having a great idea? October 14, 2019 Are great startups always about having a great idea? Lily Covington, senior strategist at commercial strategy firm Cruxy & Co., says YES. Marketing guru and Silicon Valley mastermind Guy Kawasaki famously said “ideas are easy, implementation is hard”. But while ideas may be easy, truly great ideas are anything but. In the fast-paced and saturated [...]