Brexit and fuel costs force airline Flybe to put itself up for sale

Theresa May facing Tory anger as ministers consider draft Brexit agreement

The pound has bounced back on renewed hopes that Britain and the EU are on the verge of a Brexit deal.

Oil prices have fallen sharply to levels not seen for almost a year as traders see a return of a glut in supplies at a time of falling demand.

Theresa May is facing a mass resignation of ministerial aides if she refuses to accelerate a crackdown on fixed-odds betting terminals.

 

Amazon says its new second headquarters will be split between New York City and Arlington, Virginia – ending months of speculation.

An investigation by cyber security firm Symantec has now uncovered that the North Korean government is stealing tens of millions of dollars by hacking into banks and forcing ATMs to dispense cash to mules.

FINANCE TOP STORIES

UK’s Tech Nation picks 20 fintech programme members

The UK-based, government-backed, national network for tech enterpreneurs has picked 20 early-stage startups to join its new fintech programme

It has promised to give them intensive backing to help grow their businesses and the country’s financial and technological ecosystem.

First unveiled as part of the government’s fintech sector strategy in March, the new programme will provide the participants a chance to work with and learn from some of the UK’s top fintech entrepreneurs.

Over five months, firms will get coaching sessions around the UK and access to field experts before making a networking trip to the US to meet potential investors and partners.

The 20 firms picked to join the first cohort are operational in the areas of: payments, financial inclusion, regtech, AI, SME financing, Open Banking, and cryptocurrencies.

Tech UK is stressing the regional variety, with a third of participants from outside of London, headquartered in places like Norwich, Edinburgh, Cardiff and Manchester. Some 40% of the 20 also have female founders or co-founders.

Eileen Burbidge, chair, Tech Nation and HM Treasury’s special envoy for fintech, stated: “The UK is an acknowledged world leader in fintech but having this programme, endorsed by HM Treasury, will help the UK to further accelerate the development of the sector.”

The UK has long been a leading fintech hub and the government is committed to ensuring that the sector continues to flourish post-Brexit. 

While the implications of the country’s exit from the EU on the UK’s scene have yet to become fully clear, a recent Tech Nation report suggested that firms continue to be concerned about the fall out. 

The report surveyed more than 3400 members of the technology community, finding that for companies in London Brexit is considered the third biggest challenge. The top challenge still remains access to talent – something which will again be affected by the UK’s EU exit.

-GBO Correspondent.

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