Ex-NatWest Boss Loses Out on £7.6 Million
Ex-NatWest boss Dame Alison Rose will lose 7.6 million pounds ($9.2 million) after admitting that she discussed the closure of Nigel Farage’s bank account.
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Stability AI Reportedly Raises $50 Million
The media reported that the startup Stability AI, which operates in the sphere of artificial intelligence and is known for its Stable Diffusion software designed to create images, was able to raise funding for about $50 million.
Bank of England Warns of Zero Growth in British Economy Until 2025
The Bank of England has warned that the economy of the United Kingdom is highly likely to continue to show zero growth until 2025 against the background of high-interest rates or even a continued increase in this indicator.
Cost of Living Payments: Explained
Starting October 31, 2023, select UK households began to receive £300 cost of living payments. Here’s a detailed explanation of who can expect a second round of government support and when the money arrives in your bank account.
UK to Invest in AI Supercomputer
The UK government Wednesday, November 1, announced its intention to invest funds in the amount of 225 million pounds ($273 million) in a supercomputer with artificial intelligence.
UK BNPL Use Shows Growth
In the UK, against the background of the cost of living crisis, the use of the Buy Now, Pay Later (BNPL) service has sharply increased.
UK Finalized Crypto Regulation Proposals
UK HM Treasury has published the final results of the consultation on the regulatory regime for crypto assets.
British Banks Call for Caution on AI Regulation
Financial companies and technology firms warn UK regulators against applying harsh measures when forming the concept of activities to control the development and spread of artificial intelligence.
Revolut Continues Its Attempts to Obtain British Banking License
Revolut continues its difficult path to obtaining a banking license in the United Kingdom.
Lloyd’s Reports Potential Global Consequences of Payments System Cyber Attack
Insurance marketplace Lloyd’s of London reported that in the event of a large-scale cyberattack on the systemic payment system, the global economy may face a consequence in the form of damage for $3.5 trillion.
Instant Payments Play Key Role in Cash Decline: McKinsey
Cash usage declined by nearly 4% globally in 2022, with new developments in instant payments and digital wallets driving cash displacement in certain geographies.
Lloyds Launches New Merchant Tools
British Lloyds Bank announced the expansion of cooperation with the FreedomPay commerce platform, which is focused on the consumer.
Metro Bank Secures $1.1 Billion
The media reported that the British Metro Bank was able to secure $1.1 billion from investors.
TalkTalk Sells B2B Unit
The British company TalkTalk Telecom Group is currently selling its business-to-business unit to a specialized organization that is controlled by the main shareholders of these broadband Internet access providers.
Apple Reportedly Adds Open Banking-Powered Capabilities to iPhone Wallet
The media reports that Apple has launched an integration with the iPhone Wallet app, through which users of this digital product living in the UK have access to information about their account balances and transaction history data.
UK GDP Grows Faster Than Any European G7 Country Since 2010
UK GDP is now 1.8% higher than its pre-pandemic levels, having increased by 0.2% in Quarter 2 (Apr to Jun) 2023
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