Ed Cooke talks octogenarians, Paradise Lost, why Citymapper will be the biggest company in the world and girls on bikes July 25, 2016 I consider learning and memory to be exactly the same thing. "Think about artificial intelligence: that’s really artificial memory. It’s funny that most people privately doubt their intellect, but they’ll often volunteer that they have a bad memory, not low intelligence. It’s something to do with memory being seen as a selective mental skill, I [...]
Speedy Hire raises hackles of Rottweiler July 24, 2016 One of Speedy Hire’s largest shareholders will call for an extraordinary general meeting this morning due to frustrations around its performance and management. The building equipment supplier’s share price has fallen sharply over the last couple of years due to a series of profit warnings. Toscafund, which has a near 20 per cent stake in Speedy [...]
Another challenger bank just got its banking licence July 21, 2016 The challenger bank race is hotting up as another startup is granted a banking licence. Germany’s Number 26 has been fully approved by authorities to operate as a bank across Europe, and plans to launch in the UK imminently. The three-year-old fintech startup backed by billionaire Paypal founder Peter Thiel now has the stamp of [...]
Mastercard snaps up Vocalink giving banks a £700m windfall July 21, 2016 Mastercard has snapped up a majority stake in Vocalink, the payments processor that probably handles your salary payment, in a £700m deal giving the biggest UK banks a windfall. The deal comes after the UK regulator urged banks to sell their stake in Vocalink, the system which governs trillions of payments in the UK, from bacs salaries to [...]
Why most businesses never reach £1m turnover July 21, 2016 Quick quiz: how many years does it take a half-million-pound business to cross the £1m mark if it grows at three per cent every year? Answer: 24 years. Why three per cent? It’s the dreaded Hindu rate of growth — just enough to keep pace with inflation — that many businesses find themselves trapped in. [...]
Asset manager ICG talks up prospects after Brexit vote July 21, 2016 Alternative asset manager Intermediate Capital Group has told shareholders it is “well placed to deal with” Brexit uncertainty. Chief executive Christophe Evain, who recently said Brexit the vote was “terrible” for London in an interview with City PM, acknowledged that reduced levels of M&A activity are expected after the referendum, “resulting in a slower investment pace in the [...]
Is exercise the future of networking? A new generation of workers are choosing Asics over Aperol July 21, 2016 Spritzer or sprint finish? For years, summer in the City has involved the same vintage, slightly pedestrian routine. Workers spilling out onto every available inch of pavement to enjoy the evening sun with a glass or two of their favourite tipple. A new generation of City workers, however, is choosing a different way to socialise and [...]
From community shares to regional pension funds: How crowdfunding is changing investment forever July 21, 2016 If you're an optimist, you’ll likely think that we’ve only seen the start of what new technologies can offer – and change. Although growth across alternative finance has slowed in the past 18 months, the models found in the industry have continued to evolve at pace. One such development was announced last week. Crowdfunder, one of [...]
It’s time to end the scandal of hidden holiday money charges July 20, 2016 Holidays are expensive. Last year British families spent £26bn on holidays abroad. That’s around £2,000 each trip. Some were all inclusive, but many, perhaps even most journeys will have seen people change money to pay for things overseas. As we all get ready for our week in the sun this year, I decided to look [...]
We need more masculists in the boardroom: Unconscious bias doesn’t just affect women July 20, 2016 These are exciting times for gender equality in the UK. With the success of the 30% Club, the announcement of HM Treasury’s Women in Finance charter, and Theresa May’s recent appointment as Prime Minister, momentum appears to be building. Even the term “feminist” has lost much of its stigma. The view that women are entitled [...]
