UK fintech tops the US on investment for the first half of 2018 July 31, 2018 The UK has come out on top globally in terms of fintech investment for the first half of the year, surpassing the US for the first time and taking the crown in Europe to attract $16.1bn (£12.3bn) out of the continent's $26bn total. Four of Europe's top 10 fintech deals happened in the UK, which included [...]
Bank of England: Economists split as monetary policymakers set out into the unknown | City A.M. July 30, 2018 The Bank of England is widely expected to raise interest rates on Thursday, but the decision by the monetary policy committee (MPC) is likely to be one of the most controversial in recent memory. While most City observers now think rates will rise, economists are split as to whether hiking borrowing costs amid a weak [...]
Cisco channels $100m into the UK’s artificial intelligence tech sector | City A.M. July 19, 2018 Global telecoms tech firm Cisco has announced it will be investing $100m (£76.8m) into digital innovation in the UK, with a focus artificial intelligence, data and self-driving cars. Backed by Prime Minister Theresa May and digital secretary Jeremy Wright to run in tandem to the government’s industrial strategy, Cisco will partner with University College London [...]
Steak restaurant chain Gaucho has filed for administration July 18, 2018 Steak restaurant Gaucho is expected to fall into administration as early as today after rescue talks for the chain failed. The company has filed a notice of intention to appoint an administrator, it confirmed this morning. “Despite an extensive options process which attracted proposals from a number of parties, it is with regret that due [...]
Steak restaurant chain Gaucho has filed for administration | City A.M. July 18, 2018 Steak restaurant Gaucho is expected to fall into administration as early as today after rescue talks for the chain failed. The company has filed a notice of intention to appoint an administrator, it confirmed this morning. “Despite an extensive options process which attracted proposals from a number of parties, it is with regret that due [...]
EU migration to the UK falls to lowest since 2013 | City A.M. July 16, 2018 Net EU migration into the UK fell to its lowest point since 2013 at the end of last year, continuing the marked decline in the numbers of EU immigrants which started at the time of the Brexit vote. Some 240,000 EU citizens came to the UK in 2017, according to the Office for National Statistics [...]
Mmusi Maimane means business: Why South Africa’s Democratic Alliance opposition leader wants to cut the Rainbow Nation’s red tape | City A.M. July 16, 2018 In his first state of the nation address in February, South Africa’s President Cyril Ramaphosa was adamant when he pledged that “a new dawn” was upon the country. There was reason to be hopeful; the former deputy president in the African National Congress (ANC)-led government had run on an anti-corruption platform and smoothly taken the [...]
The UK tops the charts for venture capital funding in Europe after a bumper second quarter July 12, 2018 The UK has regained its title as the top spot in Europe for venture capital investment in the second quarter of 2018. A total of £1.55bn of venture capital money was invested into UK businesses in the second quarter, spanning across 244 deals with artificial intelligence, fintech, cybersecurity and biotech as the most popular sectors [...]
Brexit: UK’s services sector pleads for mutual recognition deal in letter to Prime Minister July 3, 2018 Some of the biggest firms in the UK's services sector have written to the Prime Minister, urging her to secure a future trade deal that puts mutual recognition at its heart. The letter, coordinated by the Professional and Business Services Council and signed by the likes of KPMG and Deloitte, Allen & Overy and Clifford [...]
Hbos Reading: Treasury Select Committee joins calls for further transparency over ‘shocking’ fraud case June 27, 2018 A second group of MPs have weighed into the Hbos Reading fraud case, following last week's explosive report, demanding "maximum transparency" over what took place. The Treasury Committee chair Nicky Morgan has written to Dame Linda Dobbs, who is currently carrying out an independent review of the case, saying the Committee expects to receive the [...]