The Mayor of London has opted to protect privilege not competition September 14, 2016 Sadiq Khan’s crackdown on London’s private hire industry is a sop to a privileged monopoly that distorts competitive markets and fails to defend consumer interests. As private hire services make inroads into London’s black cab monopoly, the case to protect them from decline and enforce consumer safety may sound reasonable. But Khan’s reforms go beyond safety and are [...]
The Uber vs black cabs row proves one thing – driverless cars are the future September 14, 2016 Having digested Sadiq Khan’s 27-point plan to meddle in the taxi and private hire market, one top Uber official yesterday moaned “so much for being the most pro-business mayor in London’s history”. Uber’s frustration is understandable. Not only is the firm already battling Transport for London over proposed regulatory changes (some of which are just [...]
Uber accuses Sadiq Khan of favouring London’s black cabs September 13, 2016 Uber has accused the Mayor of London Sadiq Khan of discriminating against its drivers and favouring black cabs in the capital with new measures to regulate the industry. In an email sent to customers, Uber claims that thousands of minicab drivers could lose their livelihoods with a knock on effect on waiting times and availability of cars. [...]
Driverless cars could spell disruption for unprepared insurers as motor insurance premiums fall September 11, 2016 INSURERS need to prepare for the potential disruption – and opportunities – arising from driverless cars according to Aon Benfield, the global reinsurance intermediary of insurance giant Aon. “Adoption of autonomous vehicles will of course be affected by many variables such as regulatory challenges, cost to the consumer, safety, vehicle ownership preferences, and the technology [...]
Northzone raises €300m fund and is eyeing London fintech startups September 5, 2016 A European venture capital firm which has previously backed Spotify, iZettle and London fintech startup MarketInvoice, has launched a new multi-million pound fund to plough into tech startups across Europe, including the UK in another vote of confidence in the country after Brexit. Northzone has closed a €300m (£252m) fund to invest in early stage companies from global institutional investors and is eyeing up tech [...]
A major insurance firm just joined this blockchain consortium August 31, 2016 The blockchain consortium R3 has signed up yet another new member, this time the major US insurance firm MetLife. The addition brings the number of members to more than 60 and it joins the likes of the biggest banks such as Barclays, HSBC and Goldman Sachs. The insurer will work with the other financial services [...]
Forget baby boomers and millennials, it’s Generation X that’s shaping the fate of companies in Europe August 26, 2016 Sandwiched between the headline-grabbing millennials and baby boomers, Generation X is sometimes overlooked. But according to Hugo Scott-Gall of Goldman Sachs Research, understanding what drives the decisions of the group born between 1965 and 1980 is essential, not least because the cohort has hit its peak spending power and accounts for over 25 per cent [...]
Don’t fall for the Uber hype – London needs a common sense approach to taxis August 25, 2016 The lavishly resourced Uber PR machine has cranked into gear once again – with a blizzard of activity attempting to obstruct Transport for London's eminently sensible new rules for regulating the taxi industry in London. Quite why Uber are huffing and puffing as much as they are is anyone’s guess: TFL – the industry's regulator – [...]
Londoners – and men – think they are worth more than everybody else August 24, 2016 Londoners think they are worth twice as much as everybody else, according to innovative new research. Pollsters Opinium surveyed 2,000 people across the country for insurance group LifeSearch to find out how much people think their assets are worth, combining this with their average annual salary and the financial value they place on their out-of-work activities such as [...]
Falling ratios are far from critical according to Fitch August 23, 2016 A top ratings agency has given the UK's life insurance firms a vote of confidence, despite recent tough market conditions. The fall in bond yields over the first half of 2016 may be squeezing solvency ratios at Britain's leading life insurance companies but the decline is not enough to worry ratings agency Fitch, which said they "remain strong". Under Solvency II, insurers [...]