Going global: Exporting isn’t the hassle British SMEs fear July 31, 2017 The UK's decision to leave the EU has thrust the issue of international trade into the spotlight. Currently, just one in five SMEs export, and a recent study by Lloyds Bank found that the EU was a trading partner for 85 per cent of exporters over the past year. Pre-referendum, this relationship was easier, cheaper [...]
London cyber security startup Callsign, used by Lloyds and Deutsche Bank, has raised a huge $35m series A led by Accel and PTB Ventures July 27, 2017 A security startup focused on digital identity which helps keep Lloyds and Deutsche Bank protected has raised a huge round of funding from venture capital investors. London-based Callsign has landed $35m in a series A round of funding led by Spotify backer Accel and PTB Ventures a New York-based early-stage investment firm specialising in digital [...]
Meet the three startups joining Pfizer’s healthtech accelerator that could soon help the NHS July 6, 2017 Three tech startups have been selected by pharmaceutical giant Pfizer to help tackle pressing health issues facing the National Health Service An app offering social care on demand, Cera, and another offering prescription deliveries, Echo, along with GiveVision, a startup developing a headset to improve sight for the visually impaired, will join its new healthtech [...]
Lloyd’s of London deputy chair Robert Childs: Brexit won’t threaten London’s prized insurance status July 3, 2017 Brexit will not threaten London’s prized global insurance crown, the new deputy chair of Lloyd’s said today. Hiscox chairman Robert Childs was unveiled this morning as the replacement for Paul Jardine, taking up the position immediately. Speaking to City A.M. he downplayed the impact of Britain’s exit from the EU, saying it will have a [...]
FTSE 100 history: how the index has changed over 33 years July 3, 2017 The FTSE 100 index has just seen one of its quarterly changes with security firm G4S and real estate investment trust Segro promoted to the top 100. Although perhaps small in themselves, these regular events have changed the face of the UK’s leading index since it was formed in 1984. For the many investors whose [...]
Firms could be shocked at financial fallout from Petya and Wannacry cyber attacks, warns Lloyd’s of London June 28, 2017 Firms could be shocked at the cost of cyber attacks, such as yesterday’s Petya ransomware hack, with one of the City’s oldest financial institutions warning the reputational fallout is “what kills modern businesses”. Lloyd’s of London said today businesses need to prepare themselves for “slow burn” costs that follow cyber attacks such as reputational damage, [...]
Banking Brexodus? One year on, this is what banks have said about Brexit and job moves June 23, 2017 In the year since the UK voted for Brexit, one of the hot topics for discussion in the City has been job moves. In February, Brussels think tank Bruegel estimated that 10,000 UK banking positions could be shifted to the EU because of Brexit. One year on from the EU referendum, it is difficult to [...]
The Serious Fraud Office’s Barclays probe: Everything you need to know June 21, 2017 What happened in 2008? In the summer of 2008, at the height of the global financial crisis, Barclays needed emergency funding. The bank raised £4.5bn in June that year and £7.3bn in October from investors including Qatar Holding and Challenger Universal. Why was this investigated? Over the last five years, the Serious Fraud Office (SFO) [...]
Hurry up: Bank regulator warns tight deadline for ring-fencing poses big risks for British banks June 16, 2017 British banks rushing to carry out capital ring-fencing have little room for error, with big risks of disruptions for customers, according to a senior regulator. There is a “high degree of delivery risk” involved in bringing the plans into place, according to James Proudman, an executive director at the Prudential Regulation Authority (PRA) in charge [...]
The Old War Office in London, Winston Churchill’s former HQ, is set to be converted into a luxury hotel June 14, 2017 Former British Prime Minister Winston Churchill’s old office is set to be converted into a luxury hotel and new residences. Raffles Hotels & Resorts, the luxury brand of AccorHotels Group, Indian conglomerate Hinduja Group and Spanish construction company Obrascon Huarte Lain Desarrollos (OHLD) are working together to renovate the iconic Old War Office building in [...]