UK support to tech firms ‘an embarrassment’

The UK government’s lack of support for start-ups attending the CES tech show is a “source of embarrassment”, according to the event’s organiser. Gary Shapiro compared the country unfavourably with France, the Netherlands and Israel. The head of one British firm at the Las Vegas event said the criticism was well-founded. But the UK’s Department […]

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Lloyds Bank buys MBNA credit card firm for £1.9bn

Lloyds is to buy credit card firm MBNA from Bank of America for £1.9bn, in the UK bank’s first acquisition since the 2008 financial crisis. Lloyds, which is nearly 7% state-owned, said MBNA would be a “good fit” with its own credit card business. MBNA, which holds assets of £7bn, would increase group revenues by […]

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Banks told to combat payment scams

Banks must do more to tackle scams where people are tricked into transferring money to a fraudster, the regulator has said. The Payments Systems Regulator (PSR) was responding to a “super complaint” from consumer group Which?. This complaint highlighted the problem of “push” fraud whereby victims are conned into paying the wrong person. However, the […]

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Trump delays announcement on his business empire

Donald Trump has delayed an announcement on how he plans to separate his business empire interests from his role as US president. The US president-elect had been due to hold a rare press conference on Thursday to discuss how he would deal with perceived conflicts of interest. Mr Trump’s spokesperson said the announcement would now […]

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Food industry warns of higher prices without EU workers

The UK faces higher food prices without continued access to EU workers, 30 food and drink associations have warned. In a letter published in the Guardian, they argue that EU workers play an important role in the supply chain and some are already starting to leave. It called on the government to offer “unambiguous reassurance” […]

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French financial regulator wooing London banks

Some major banks are in advanced stages of planning to shift some operations from London to Paris, France’s leading financial regulator has told the BBC. Benoit de Juvigny said that “large international banks” have undertaken the due diligence needed to set up a subsidiary in the French capital. He also told Newsnight that “many other […]

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