Cash Machines closing at rate of 300 per month say consumer watchdog.
Which? the UK consumer watchdog, has issued its findings on the rate at which cash machines in the ATM network, are being closed down in the light of fee cuts from Banks to independent ATM operators. Their study found that cash machines are shutting down at a rate of 300 every month. The rate of…
Bank of England warning on household debt
In an interview on BBC radio, the deputy governor of the Bank of England, Jon Cunliffe, said he was concerned about high debt levels in some families in the UK. He warned that some households had levels of debt that were worrying and which could see them plunged into crisis if the general economy turns…
The Technology Industry and the need for more skilled workers’ visas.
Recent news reports revealed that the Tier 2 visa system for skilled workers reached its cap for the first time in 7 years, and for a number of months in a row. This has prompted calls for a review after it was reported that vitally needed doctors had been refused visas. This also had a…
Privacy Watchdog say 5.1 million voice IDs stored by HMRC without permission.
HMRC are facing an investigation by the ICO after complaints from the privacy watchdog ‘Big Brother Watch’ who say HMRC have secretly recorded the voices of 5.1 million people who have called the hotline and failed to ask for permission to store this data. The watchdog says that this may be illegal. Silkie Carlo, the…
Instagram’s new IGTV app set to rival YouTube.
Instagram acquired by Facebook 6 years ago, for $1 billion, has seen a rise from 800 million users 9 months ago to 1 billion users today. According to the Pew Research Centre 72% of US teenagers ranging from 13 to 17 years old use Instagram although only 51% now use Facebook. This is down from…
UK services industry needs post Brexit deal to enable seamless movement of workers as well as services.
As the International Business Festival in Liverpool opened its doors, the Business Secretary, Greg Clark gave the opening address. He made it clear that the UK’s services industry which accounts for 80% of the UK economy needed to maintain its rights to sell services as well as goods in as seamless a transition as possible,…
Bank of England votes against rate rise.
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 20 June 2018, the MPC voted by a majority of 6-3 to maintain Bank Rate at 0.5%. The Bank’s chief economist, Andrew…
FCA Survey highlights London as UK’s debt hotspot.
The Financial Conduct Authority (FCA) has published its latest analysis of its Financial Lives Survey. The survey reveals the financial experiences of people across the UK. It shows that overall satisfaction with financial circumstances is particularly low in London. The aim of the survey is to shine a spotlight on the financial situations of people…
Millennials could be the first generation to be less healthy than their parents
An independent UK charity, The Health Foundation, published early findings this week of a two-year study into the future health of young people. The study will continue over the next year, conducting further field research across the UK. The aim is to finish the inquiry in 2019 with a series of policy recommendations. Published last…
Compound semiconductors hub, dubbed; Wales’ ‘silicon valley.’
In May of last year, it was reported that a facility to make compound semiconductors, the new technology behind robotics, 5G and driverless cars was to receive nearly £38m in funding. The facility based in Wales had already received £12 from the welsh government at the end of 2015 and the new funding was to…
Technology helping the fight against illegal wildlife trade.
The trade in illegal wildlife is worth up to£17 billion a year globally. Now the the UK Foreign Office are bringing together leading technology companies and conservationists to develop new and innovative ways to combat the trade. On Monday, the UK Foreign Secretary, Boris Johnson brought together companies including Google, Amazon Web Services, Cisco and…
Second wave of ‘job relocations’ likely after Brexit.
At a recent finance summit in Frankfurt, the Treasury’s director general of financial services in the UK, Katherine Braddock, warned that a second wave of bank moves from London was “likely after Brexit.” The UK’s loss of ‘passporting rights’, the means by which UK based institutions are currently able to trade freely with Europe, after…
Britain’s conversations with France over Tech.
The Secretary of State for Culture, Media and Sport recently spoke of the conversations Britain has had with France over the last year about developing its technology sector and its entrepreneurial drive. A year ago, Emmanuel Macron, President of France announced the intention to make France the world’s tech capital. He gave his speech at…