Rio Ferdinand invests in ‘Spotify of overseas payments’ app Sokin February 25, 2021 Former England footballer Rio Ferdinand is dipping his toe into the fintech world investing in a new overseas payments app launching this summer. He spoke to City A.M. about why the partnership with Sokin is in large part because of his experiences through childhood and what he’s learned about investment. The ‘Spotify of payments’ Sokin, [...]
TfL to soon launch Hammersmith ferry service while famous bridge is closed February 23, 2021 A temporary ferry service will soon operate in west London to shuttle pedestrians and cyclists across the Thames alongside the closed Hammersmith Bridge. Transport for London (TfL) announced today that it had received bids from City Cruises and Uber Boats by Thames Clippers to run the shuttle service, after receiving government funding. The new ferry [...]
Wall Street indexes follow FTSE 100 rise to end week on a high February 19, 2021 Wall Street follows FTSE 100 rise to end week on a high
Sterling hits $1.40 for the first time in nearly three years February 19, 2021 Sterling hit $1.40 against the dollar for the first time in nearly three years this morning on vaccine optimism and better than expected PMI readings. The UK’s PMI reading during the third lockdown showed the downturn was less severe than anticipated, pushing cable above the $1.40 mark for the first time in 34 months. “Although [...]
Government ‘acted unlawfully’ by failing to disclose Covid contract details, court rules February 19, 2021 The High Court has ruled that the government acted unlawfully by failing to disclosed details of its Covid contracts. “The Secretary of State acted unlawfully by failing to comply with the Transparency Policy” Judge Chamberlain concluded in his judgment this afternoon. He added “there is now no dispute that, in a substantial number of cases, [...]
Supreme Court rules Uber drivers entitled to workers rights February 19, 2021 The Supreme Court has this morning rejected Uber’s appeal against a ruling that a group of its drivers should be recognised as “workers”. Judges unanimously dismissed the appeal. After nearly five years in the courts, the decision could have profound implications for the so-called gig economy workers. Uber drivers are currently treated as self-employed, meaning [...]
“Some challengers don’t want to make a profit” says Cashplus boss February 19, 2021 With plans to raise external investment and a new chairman in tow, challenger bank Cashplus is going full steam ahead just weeks after securing its full banking licence. Earlier this month the Prudential Regulation Authority (PRA) granted Cashplus a full banking license. Like its digital peers, Cashplus offers current accounts for UK SMEs, currently serving [...]
Ice cold in Alice, Texas: What’s going on in the Lone Star state? February 17, 2021 A devastating winter storm has been raging over the southern United States for the last five days, with much of the damage concentrated in Texas. So far, 21 people have been killed by the deep freeze, with 2.7m people still without power after the state’s energy grid failed repeatedly. The cold snap has sent the [...]
Supreme Court set for long-awaited Uber employment rights judgement February 17, 2021 On Friday the Supreme Court will hand down its judgement as to whether Uber has been successful in its appeal against a ruling recognising its drivers as workers, not independent contractors. The long-running dispute, which has been bouncing through the courts since back in 2016, could have sizeable implications for the future of the gig [...]
Competition watchdog raises concerns over £6.5bn Gumtree takeover February 16, 2021 The competition watchdog has raised concerns over the £6.5bn takeover of Gumtree by Norwegian rival Adevinta, warning it could push up prices and reduce choice for consumers. In July Adevinta struck a cash and stock deal with Ebay that would create the world’s largest online classified ads business. The merger would bring together advertising platforms [...]