Why 2020 was a year of explosive growth for DeFi and 2021 will be too January 19, 2021 Decentralised Finance or “DeFi” for short has had tremendous traction in 2020, even during the COVID-19 epidemic. The ecosystem has grown by billions just this year, surpassing $15B in December (source: https://defipulse.com/). People have been drawn to the DeFi space because it offers new suites of financial tools and services that you cannot get in [...]
‘Haves’ and ‘have nots’ disparity risks geopolitical instability, warns WEF January 19, 2021 The economic and digital disparities of the ‘haves’ and the ‘have nots’ risks widening social cohesion, and could lead to geopolitical instability, the World Economic Forum (WEF) has warned. The Covid-19 pandemic has widened long-standing health, economic and digital disparities between individuals, according to the latest WEF global risk report, which could hinder global cooperation [...]
Lloyd’s of London insurer Canopius ‘plans stock market float’ January 19, 2021 Canopius Group, one of Lloyd’s of London’s largest insurers, is planning a stock market flotation in London that could value the company at as much as £2bn, according to reports. The London-headquarters company, which has offices in seven countries including Bermuda, China and Singapore, has approached investment banks about working on an initial public offering [...]
Edge computing – what to look out for in 2021 January 18, 2021 Businesses will be familiar with cloud computing, with many having moved their IT to colocation facilities or to cloud-based applications such as Office 365, Salesforce and Slack. The networks required to deliver these services transfer huge amounts of data to central hubs where it is processed and stored. This can result in data congestion and [...]
An increase in distressed investment expected January 18, 2021 In autumn 2020 we conducted our Restart Capital Survey of over 500 SME business and over 100 investors. There was a feared wave of corporate insolvencies with 35% of the business respondents expecting to be out of business within 12 months (and 43% of medium sized enterprises). 84% of the business respondents considered themselves distressed [...]
Supreme Court rejects insurers’ claims in landmark business insurance case January 15, 2021 The Supreme Court has largely ruled in favour of policyholders and the City regulator in the landmark business interruption insurance case. In a judgment handed down today, the court said it “substantially allowed” the appeal by the Financial Conduct Authority (FCA) and campaign groups Hiscox Action Group and Hospitality Insurance Group Action. The insurers Arch, [...]
Business interruption case: Light at the end of the tunnel for SMEs January 15, 2021 Hundreds of thousands of businesses will today breathe a sigh of relief after the Supreme Court ruled leading insurers must pay out on business interruption policies. The court “substantially allowed” the appeal brought by the Financial Conduct Authority (FCA) and campaign groups Hiscox Action Group and Hospitality Insurance Group Action. It brings months of uncertainty [...]
Paparazzi Dogs: Pack of papping pups pimp up Royal Exchange January 14, 2021 Visitors to the Royal Exchange may be hounded by some unusual guests following the installation of a pack of popular pooches. To kick off a year of celebrations marking the Royal Exchange’s 450th anniversary, the iconic City landmark will play host to the Paparazzi Dogs, a series of sculptures by contemporary artists Gillie and Marc. [...]
Week in Sportbiz: Amazon and private equity target Serie A; Arsenal pick Garlick; sponsors keep faith; and boosts for electric racing January 14, 2021 Amazon’s foray into broadcasting Premier League matches could be a taste of things to come in Italy. The retail behemoth has held talks about buying the domestic rights to show Serie A on its Prime Video platform, according to multiple reports. Amazon has already secured a foothold in the Italian market, snapping up some Champions [...]
Grab raises $300m to fund financial services expansion January 14, 2021 Southeast Asian ride-hailing app Grab has raised $300m (£220m) to help fund further expansion of its rapidly-growing financial services arm. The series A funding round was led by South Korea’s Hanwha Asset Management, while existing investors K3 Ventures and GGV Capital also participated. Grab, which also offers food delivery services, said the cash injection followed [...]