Klarna introduces pay now option in UK
Swedish payments firm Klarna said that it has introduced a number of changes to its product in the United Kingdom. This includes the option for its users to pay now. The announcement comes as the UK is expected to introduce rules for buy-now pay-later (BNPL) credit after the unregulated market spiked. This is because of […]
Banks make slow progress on UK gender pay
Major banks in Britain made a slight dent in their gender pay gaps. Several insurers went backwards. Companies in Britain with more than 250 employees have been required to publish the difference between the pay and bonuses of their male and female employees. They got a reprieve due to the pandemic, last year. The financial […]
Fix public finance before cutting taxes
British finance minister Rishi Sunak said that tax cuts could only come once public finances had been put on a sustainable footing. The government had set out plans to raise taxes on workers, employers and some investors. This is for fixing a health and social care funding crisis. Speaking in a hall at the governing […]
6-month staff visa for Britain’s financial sector
Britain’s financial sector has called on the government to ease visa requirements on overseas staff. This is mainly for staffs who want to work up to six months in the country. A Global Talent Mobility report from TheCityUK, City of London Corporation and consultants EY set out ways to overcome the challenges faced by banks, […]
Amazon to offer insurance to UK businesses
The technology giant’s first foray into business insurance in the country, broker Superscript said that Amazon is going to start offering insurance to small and medium-sized UK business customers. Members of Amazon’s Business Prime program will be able to buy cover from superscript such as contents insurance, cyber insurance and professional indemnity insurance. Superscript spokesperson […]
UK govt task force to be headed by Haldane
Former Bank of England Chief Economist Andy Haldane is appointed as the head of a British government taskforce. The government says that this taskforce is aimed at tackling regional inequality. Tackling economic inequality across the country was one of Prime Minister Boris Johnson’s central pledges. Haldane will be a permanent secretary in the Cabinet Office. This drives […]
Minister says that UK seeking break down to digital trade barrier
The trade minister Anne-Marie Trevelyan will say about how Britain will look to break down digital trade barriers. This is to help its businesses export their services. He is the country’s newly appointed trade minister also. Britain’s Department for International Trade had published a report that seeks to predict trends in global trade. The demand […]
Wealth Management industry to gain from AI
Wealth management sector of UK is experiencing a significant growth in recent years. They are handling around £948bn of assets, which are equivalent to about 46% of the UK GDP. The financial institutions and wealth management firms are looking to be early adopters of the latest AI technologies. Wealth management is a data-rich industry, in […]
UK regulator investigates Facebook’s use of ad data
Britain’s competition regulator is investigating the Facebook to determine whether the network is abusing its dominant position in social media or digital advertising through its collection and use of data. The Competition and Markets Authority has launched an investigation into this. It is about whether the Facebook holds an unfair advantage in areas such as […]
UK’s financial watchdog goes real time to catch online criminals
Britain’s financial regulator has to make daily sweeps of the internet. This sweep is to warn about online scams in real time and keep pace with fraudsters who are often based outside the country. Mark Steward, the Financial Conduct Authority’s (FCA) director for enforcement, said that the warnings have become a cornerstone of the watchdog’s […]