Bitfinex Pay launches as a cryptocurrency payment system March 3, 2021 Crypto trading platform Bitfinex is gearing up to take aim at some of the digital payment big players as it launches Bitfinex Pay today.
Ministers set to reveal radical rail shake-up May 15, 2021 Ministers are set to reveal the biggest overhaul of the UK’s rail system in three decades, with reforms including the introduction of flexible season tickets and pay-as-you-go travel across the network. The coming week will see the publication of a long-awaited white paper on the future of the country’s rail network, the Times reported. Chief [...]
FCA explores new rules to block UK high street bank closures August 10, 2021 The Financial Conduct Authority is reportedly looking into new rules that would give it the power to stop banks from closing high street branches, in a bid to ensure consumers have continued access to cash. In a consultation last month, the Treasury said it was considering new legislation that would give the UK’s financial regulator [...]
Contactless and mobile payments surge in UK in 2018 June 6, 2019 The number of contactless payments made in the UK surged in 2018, new figures have shown, as all Britons’ from grandparents to teenagers increased their use of the technology. Read more: Credit card spending shoots up as customers turn to extra protections Meanwhile, the use of cash continued to decline, with only four per cent [...]
UK banks urged to scrap branch closures during lockdown January 28, 2021 Britain’s Financial Conduct Authority has today told banks to rethink moves to close branches during lockdown. The FCA said banks should consider the impact of national restrictions on their ability to comply with regulatory guidance on closing branches. The authority released a statement today urging banks to consult any customers that are affected directly. The [...]
Weekend read: A hybrid high street August 30, 2021 In March 2020 as physical stores were closed, brands with existing e-commerce channels were able to quickly adapt and many enjoyed a boom in online sales led by an increase in mobile shopping. More customers than ever relied on their phones to shop, with global mobile app audiences growing by 31 per cent — nearly twice the [...]
German regulator ‘files criminal complaint’ over manipulation at Greensill Bank March 3, 2021 The German financial regulator has reportedly filed a criminal complaint against Greensill Bank for suspected balance sheet manipulation. Bafin filed the complaint earlier today with prosecutors in Bremen where the bank’s headquarters are based, according to the Financial Times. It comes as part of an investigation into the firm’s balance sheet by KPMG which started [...]
Prudential’s Asia business drives growth in operating profit March 3, 2021 Prudential is preparing to spin off its US unit as it focuses on its main Asian business which boosted operating profit four per cent last year. The insurance giant reported overall adjusted operating profit from continuing operations of $5.5bn while Asia operating profit jumped 13 per cent to $3.7bn. It comes after a difficult first [...]
‘Snotty tweets’: Amazon clashes with Elizabeth Warren over taxes and unions March 27, 2021 Amazon has become embroiled in a rare public row with US senator Elizabeth Warren over issues including its tax and employment practices. The dispute kicked off on Thursday when the Massachusetts senator posted a video accusing Amazon of “exploiting loopholes and tax havens to pay close to nothing in taxes”. The ecommerce giant replied saying [...]
Sadiq Khan accuses government of imposing ‘new era of austerity at worst possible time’ January 27, 2021 The Mayor of London has today warned that major cuts are inevitable unless the government adequately funds the capital. Khan has vowed to build a better city in the aftermath of the pandemic but argues that he is being forced to do so “with one arm tied behind my back”. Speaking at a Budget Plenary [...]