Amazon Alexa inventor says most companies are getting AI wrong October 17, 2024 William Tunstall-Pedoe, the inventor behind Amazon’s voice assistant Alexa, has said that many companies that are trying to embed AI in their operations are getting it wrong. “Pretty much every medium and large business out there is trying to bring AI into their business,” he told City AM. “But a lot of these projects are [...]
Arbuthnot: Historic bank leans on wealth unit as rate cut hits lending income October 17, 2024 Arbuthnot Banking Group reported growth in its wealth management arm as the historic lender looks to weather a fall in interest rates.
Rentokil returns to growth after activist investor scuffle October 17, 2024 Pest-control company Rentokil has reported an uptick in revenue as it grapples with the after-effects of a profit warning and activist investor backlash. The firm told markets this morning that revenue grew by 3.6 per cent year on year in the three months to 30 September, from £1.39bn to £1.44bn. Shares in the company rose [...]
Mark Kleinman: Labour’s economic plan remains a £63bn question October 17, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City A.M. column. This week he tackles big questions for Labour, pragmatism in the City and the building-blocks of a takeover Labour’s economic plan remains a £63bn question So there we have it: £63bn. Not bad [...]
The Capitalist: Guildhall’s gossip police on patrol as M&S boss skips Investment Summit October 17, 2024 Dispatches from Labour's Investment Summit, M&S's CEO's big night out and hijinks at Cheltenham: catch up on City gossip in The Capitalist.
The Square Mile and Me: M Restaurants founder Martin Williams on backpack etiquette and mandatory two hour lunches October 17, 2024 Each week we ask a City figure to take a trip down memory lane. Today it’s Martin Williams, CEO of Groucho and founder of M Restaurants on the City staple’s 10th birthday What was your first job? I started working in hospitality when I was sixteen, as a dishwasher in a grotty hotel in North Yorkshire. I [...]
South Bank’s ‘The Slab’ in spotlight as campaigners fight planning decision October 16, 2024 South Bank 'The Slab' is the topic of a legal battle at court this week as campaigners seek to overturn the former government's decision to green-light redevelopment
UK house prices surge as cooling inflation gives rise to lower borrowing costs October 16, 2024 House prices in the UK rose by 2.8 per cent against the backdrop of the lowest inflation for three years and prospect of interest rates coming down further. The UK average according to the Office for National Statistics sat at £293,000 in the year to August 2024, though London prices are typically higher. This marked [...]
Klarna offloads UK loan book to hedge fund Elliott October 16, 2024 Klarna is selling off its UK loan book to the hedge fund Elliott in a deal designed to free up some £30bn to fund its global growth plans, the company has announced. In a statement today, the Swedish headquartered buy-now pay-later firm said it had signed a multi-year agreement with the UK arm of Elliott [...]
John Lewis partners with Zopa to boost personal loan offering October 16, 2024 John Lewis has partnered with an online back to offer personal loans of up to £35,000 to its 23m customers. The department store chain‘s financial services arm is working with Zopa Bank to provide its customers with more finance options. The bank will be embedded into the John Lewis Money website with a personalised loan [...]