UK - page 2

Finance & Economics

Barclays to Acquire Tesco Bank

Barclays has entered into an agreement to acquire Tesco’s retail banking business, including its credit cards, operating infrastructure, deposits, and unsecured personal loans.

News

Bank of England Governor Andrew Bailey Embraces AI

Governor of the Bank of England Andrew Bailey agrees with the opinion of the House of Lords that artificial intelligence should not be perceived as a risk to business.

News

Bank of England Opens Prospect of Rate Cuts in 2024

For the first time since the beginning of the coronavirus pandemic, the Bank of England opened the door to cut interest rates, confirming forecasts that the inflation rate will reach the target level in the coming spring, and warning of the likelihood of renewed price pressure.

News

Probability of Interest Rate Cut by Bank of England Grows

The Bank of England on Thursday, February 1, is likely to keep the interest rates at 5.25%, keeping this indicator within what can be described as sustainable stability.

Fintech & Ecommerce

Revolut Launches Cross-Border Mobile Wallets

Digital bank Revolut has introduced a new cross-border money transfer service called Mobile Wallets that redefines remittance experiences, requiring only receivers’ contacts for transactions.

News

India Is Among Top Fintech Cluster Hubs Globally

The World Economic Forum emphasised the role of thriving fintech hubs hosting clusters of fintech corporate headquarters and providing significant operating markets such as Singapore, the UK, the US, Mexico and India for the global growth of the fintech industry.

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Aldi Introduces App-Free Payments at Checkout-Free Store

Customers at the checkout-free concept Aldi store in London can now simply tap their contactless payment card or mobile phone at a barrier to enter the store.

News

Zilo Raises £25 Million in Series A

British asset and wealth management software provider Zilo has announced that it has managed to raise 25 million pounds in a Series A funding round.

News

NatWest Launches Intellectual Property-Based Lending

NatWest Group has launched a new loan offer for fast-growing businesses.

Fintech & Ecommerce

Fintech Funding in US and UK Sees Sharp Decline in 2023

Inflation, increased interest rates, geopolitical instability, and other macroeconomic challenges brought US and UK fintechs 36% and 63% less money last year, respectively.

Finance & Economics

HSBC Reportedly Joins Ranks of Suitors for Tesco Banking Arm

HSBC has joined the list of financial institutions that are participating in a kind of race for the right to acquire Tesco Bank.

News

UK Executives Urge Bank of England to Cut Rates

In the United Kingdom, the executives of local companies appealed to the Bank of England to lower interest rates shortly, arguing that this decision by the financial regulator would be able to support the country’s weakening economic system after the so-called depressed confidence turned out to be at a four-month low.

Finance & Economics

UK Ethnic Minority Businesses Are Twice More Ambitious Than SMEs Overall

Recent UK research showed that almost 6 in 10 ethnic minority-owned businesses (EMBs) have ambitions to both grow and take risks, significantly higher than the overall percentage of SMEs nationwide (27%).

Fintech & Ecommerce

Revolut Reports Revenue of More Than $1 Billion in 2022

The British fintech company Revolut reported that its revenue for 2022 amounted to $1.1 billion.

Finance & Economics

UK Inches Closer to Technical Recession

The United Kingdom’s economic system is currently on a path that could end in recession.

News

Yoti Receives Funding From HSBC

Digital identity company Yoti has received debt financing for 12.5 million pounds from HSBC and another 7.5 million pounds of convertible debt financing from existing shareholders.