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.
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%).
The British fintech company Revolut reported that its revenue for 2022 amounted to $1.1 billion.
The United Kingdom’s economic system is currently on a path that could end in recession.
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.
The media reports that the British fintech company Revolut is aiming to generate revenue of $1.9 billion in 2023.
The Supreme Court of the United Kingdom ruled that, from a legal point of view, it is not possible to designate artificial intelligence as an inventor to ensure patent rights.
The economy of the United Kingdom in October this year showed a contraction that turned out to be stronger than expected.
A proposed cap on cross-border interchange fees charged by Visa and Mastercard aims to avoid businesses overpaying after Brexit eliminated fee limitations applied in the EU.
British fintech startup SumUp has raised a fresh funding round that brings the company valuation close to $8.6 billion.
The British competition watchdog has formed the basis for launching an investigation into the partnership between Microsoft and OpenAI, which created the world’s most popular artificial intelligence-based chatbot called ChatGPT.
The Bank of England has stated the risk that the wider spread of artificial intelligence could provoke a threat to the financial system.
British Chancellor of the Exchequer Jeremy Hunt blamed Brexit for a period of political instability that lasts for more than five years and is a factor that caused a decrease in investor confidence in the United Kingdom.
UK customers can now trade US stocks via Robinhood brokerage without extra commission or foreign exchange fees.
A new report by Mintel reveals that Americans have much more positive attitudes towards cryptocurrency than UK consumers. Meanwhile, Brits are far more cautious about their investments due to the recent cost of living crisis.
Nottingham City Council has become another victim of the financial crisis in the UK in the sphere of local government.
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