Banks are under threat – and this time it’s personal November 13, 2019 The launch of Uber Money, which provides payment and banking services to the company’s drivers, is an example of the next big trend in banking — the rise of the so-called “non-bank”. The establishment of a financial product for non-banks goes beyond simple revenue growth. It is about establishing loyalty, and in the case of Uber, loyalty [...]
European markets rise as US and China agree to phase out tariffs November 7, 2019 European markets have risen this morning after the US and China announced plans to gradually lift tariffs as the two countries work towards securing a trade deal. News of the trade-war de-escalation buoyed Britain’s FTSE 100 index, sending it up as much as 0.44 per cent in morning trading. The blue chip index was sitting [...]
If you were chancellor, what would be in your Budget? November 6, 2019 Today was scheduled to be the first Budget of Boris Johnson’s premiership. The chancellor announced the Budget last month, saying: “This is the right and responsible thing to do – we must get on with governing.” Unfortunately, to misquote a phrase, the best-laid plans of chancellors and Prime Ministers often go awry. The Budget has [...]
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 [...]
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 [...]
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 [...]
Eurozone manufacturing sector suffers worst month in seven years October 1, 2019 The Eurozone’s manufacturing sector suffered its worst month in seven years in September, according to a closely-followed industry survey, as the malaise in the area’s economy shows no sign of relenting. Read more: Sterling sinks after ‘simply shocking’ manufacturing data Factory output decreased markedly in September, with IHS Markit’s Eurozone manufacturing purchasing managers’ index (PMI) [...]
Marketing trends 2019: Interactive content and voice search are in, annoying chatbots are out September 28, 2019 Marketing is an industry undergoing seismic changes. New technology, changing consumer attitudes and shrinking budgets mean marketers are constantly having to adapt. But while many large advertisers have tightened the purse strings, marketing remains a key way for businesses to drive growth. A recent report by marketing consultancy Lewis, which looked at the world’s 300 [...]
IFS: Johnson’s tax cut pledges will cost billions September 27, 2019 A bonanza of tax cuts promised by Boris Johnson will cost billions of pounds, an influential research group has warned. The Prime Minister’s pledge to raise the threshold of National Insurance contributions (NIC) and higher-rate income tax has come under damning criticism from the Institute for Fiscal Studies (IFS), which said this morning that the [...]
European factory ‘summer slump’ continues through August September 2, 2019 European factory activity stagnated further in August, as a gloomy spell for companies was extended by a continued fall in demand. Manufacturing output fell for the seventh month in a row, according to IHS Markit’s Purchasing Managers’ Index (PMI), a closely-followed measure of sector activity. Economists recorded a PMI score of 47, where anything below [...]