This is the one special ingredient crucial to the UK’s fintech success April 11, 2016 Fintech is booming and London is at the heart of this global community. The Innovate Finance Global Summit at London’s Guildhall today has attracted over 1,200 business leaders, politicians, and pundits from around the world to discuss the big trends in fintech. Here is our perspective on why it’s booming – and why so many people have joined come to [...]
EU referendum: City of London Corporation chief in Brexit warning to the capital’s fintech sector April 8, 2016 London's multi-billion pound fintech sector is being urged by the City of London Corporation to speak up in favour of Britain staying in the European Union. In a speech to be delivered on Monday, the Corporation's policy chairman Mark Boleat will say: “It is far better to have ‘entrepreneurs for Europe’ than ‘bankers for Brussels’ [...]
EY has banked over $500m from the Nortel bankruptcy as legal fees continue to balloon April 6, 2016 NULL
The financial regulator is set to focus on technology and culture in the coming year, though only one new review will be brought in April 5, 2016 The use of technology and culture within banks are set to be the big focus for the UK's financial watchdog over the next 12 months, the Financial Conduct Authority (FCA) revealed today in its yearly business plan. The only new review that the FCA will kick off over the coming 12 months will look into pension [...]
Bankers prepare for job losses as optimism falls to lows not seen since the Eurozone sovereign debt crisis April 4, 2016 British bankers are bracing themselves for the largest round of job cuts since the height of the Eurozone sovereign debt crisis as banks struggle to find their way back to profitability and optimism over future earnings shrinks. Bankers fear the axe is set to fall mostly on bloated back office operations, IT departments and in [...]
“How would you get an elephant in a fridge?”: These are the 10 toughest questions asked at job interviews – including questions from Topshop, Network Rail and EY March 29, 2016 Job interviews are galling at the best of times – but imagine being asked how to squeeze an elephant into a fridge, or how many people named Gary were born in 2013. That's what candidates at, respectively, Gemalto and BT were faced with, according to jobs marketplace Glassdoor, which has put together the 10 toughest [...]
Brexit vote puts brakes on City’s huge IPO boom, cutting the amount raised by by almost 75 per cent since the last quarter of 2015 March 29, 2016 The booming London initial public offering market has come to a screeching halt after reaching near record levels in 2015. For the first quarter of 2016 the total raised through IPOs slumped to £1.6bn, down from £4bn in the last quarter of 2015, data from accountant EY has shown. EY also warns that the market for [...]
Benefits of Channel 4 privatisation “inherently uncertain”, Ernst and Young report commissioned by broadcaster finds March 23, 2016 The benefits of privatising Channel 4 are "inherently uncertain", according to a new report commissioned by the broadcaster. Channel 4 has today published a report produced by Ernst and Young (EY) as the government reviews whether it should have a different ownership structure. It emerged last summer that the government was considering privatising Channel 4. [...]
Going nowhere fast: UK inflation stays at 0.3 per cent in February March 22, 2016 The UK's inflation rate remained at 0.3 per cent in February, according to data released this morning by the Office for National Statistics. Inflation, as measured by the year-on-year change in the consumer price index, was equal to January's 12-month high of 0.3 per cent. Transport costs were the biggest downward contributor falling 1.1 per cent on the [...]
Four fintech lessons from Silicon Valley to London March 17, 2016 I had an eye-opening trip to San Francisco last week, as part of a UKTI mission to showcase the Best of British in fintech. While there, we were fortunate enough to meet with some of the most influential organisations on the West Coast, to educate them on the burgeoning fintech market here in the UK [...]