UK Inflation Falls to 2%
In May, the United Kingdom’s inflation rate fell back against the Bank of England’s 2% target for the first time in almost three years.
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Fintech Zilch Taps Deutsche Bank to Raise £100 Million Debt
Fintech company Zilch Technology Ltd., which is based in the United Kingdom, raised 100 million pounds ($127 million) as part of the deal on securitized debt financing.
CuspAI Raises $30 Million
CuspAI, a company based in Cambridge, United Kingdom, was able to secure $30 million.
UK Unemployment Hits 2.5-Year High
In the United Kingdom, unemployment unexpectedly rose, reaching its highest level in more than two and a half years.
UK Tech Bosses Urge Focus on AI Skills in High-Stakes Election
Currently, in the United Kingdom, local executives in the technology area and entrepreneurs declare their desire for the next government of this country to focus on the development of skills related to artificial intelligence and on fiscal measures aimed at providing conditions for the implementation of the economic growth process.
Monzo Reports First Profitable Year
Neobank Monzo has recorded the first profitable year in its entire history, as a result of which this virtual lender, relying on positive financial indicators, is now planning to scale up its activities.
Visa Launches AI-Powered Fraud Detection Service in UK
Visa has launched a real-time artificial intelligence-based fraud detection service in the United Kingdom.
UK Inflation Slows
In the United Kingdom, the inflation rate in April was the lowest in almost three years.
UK Regulators Fine Citi
In the United Kingdom, local regulators imposed a fine of 62 million pounds ($79 million) on bank Citi, which head office is located in New York.
UK Seeks to More Transparency Into AI Models
The media reports that local authorities in the United Kingdom are currently working to increase the transparency of the training process by technology companies of their artificial intelligence models.
UK Economy Escapes Recession
The economy of the United Kingdom has left the recession zone, as evidenced by the fact that in the first quarter of the current year, the local gross domestic product (GDP) showed growth of 0.6% compared to the previous three months.
Monzo Raises $190 Million
British neobank Monzo on Wednesday, May 8, announced that it had managed to raise investments for $190 million.
Zopa Bank Reports £4 Billion in Customer Deposits
Zopa Bank has announced that it has managed to amass customer deposits of 4 billion pounds.
Bank of England Urges UK Payment Companies to Upgrade Operational Resilience
Sasha Mills, executive director of Financial Market Infrastructure (FMI) at the Bank of England, said that much more needs to be done in the context of increasing cyberattack preparedness for companies that provide payment transaction services in the United Kingdom.
NatWest Issues First IP-Backed Loan to Sci-Net
The new High Growth IP Loan that Sci-Net secured from NatWest has been developed in cooperation with specialist IP evaluation company Inngot to help unlock the funding gap for high-growth firms.
Barclays Reports Earnings
On Thursday, April 25, Barclays shares rose in price by 4% after this financial institution, based in London, published information on net income attributable to shareholders for the first quarter of the current year.
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