Alphabet and Avis Budget will work together on self-driving cars, the companies announced on Monday. Alphabet’s self-driving car company, Waymo, will rely on Avis to service and store its fleet of Chrysler self-driving vans, the companies said in a statement. Most of the 600 vehicles will be deployed, in part to support a pilot in […]
Read moreThe former chief executive officer of Barclays has warned that banks could be faced with their own “Kodak moment” by falling into irrelevance if they fail to keep up with the pace of rapidly developing fintech technologies. Antony Jenkins, who was the group CEO of Barclays from 2012 until he was sacked in 2015, said […]
Read moreStarling Bank, a new U.K. challenger bank that doesn’t have branches and relies on a mobile phone app instead to cut running costs and appeal to new customers, has received its banking passport into Ireland. The expansion into the Republic of Ireland is expected to be followed by further launches into other European Union (EU) […]
Read moreToday, Billionaire Eric Schmidt is the executive chairman of Alphabet (Google’s parent company), which has a market cap nearly $675 billion. He was also CEO of Google from 2001 to 2011, a decade when the tech behemoth both went public (2004) and saw meteoric growth. In those years when Google was rapidly expanding its workforce, […]
Read moreThe European Central Bank published a report for the first time on Monday of its corporate bond purchases, as it comes under pressure to taper its buying program. “When the ECB buys bonds in the primary market it is essentially taking the place of some other investor who would have bought the bonds but cannot […]
Read moreBMW’s biggest plant in the world is about to get a little bigger. The German automaker said Monday it will add another 1,000 jobs and invest $600 million in the plant as part of a plan to boost annual production to as many 450,000 vehicles annually. “It’s a great day for us here in Spartanburg […]
Read moreApple has often been accused of acting like it invented things that others have been doing for years. That complaint is not without merit, however Apple can lay claim to transforming existing things into mainstream successes, which takes no small amount of invention in its own right. Fingerprint authentication and contactless payments are just two […]
Read moreShares in Nestlé rose more than 4 per cent on Monday morning after the Swiss consumer group became latest target of US activist investor Daniel Loeb. Mr Loeb’s Third Point has taken an investment position of roughly 40m shares, or 1.3 per cent, in the company, and has begun “productive conversations” with management, the US-based […]
Read moreA new whitepaper from Innovate Finance’s Transatlantic Policy Working Group (TPWG) has recommended that regulators in the U.S. do more to encourage financial technology (fintech) innovation in the regulatory field (regtech) by liaising with their international counterparts more and adopting a national policy that conforms with global norms. The TPWG was formed earlier in the […]
Read moreBritain’s Prince Harry has revealed he once considered relinquishing his royal title in order to have the chance of leading an “ordinary life”. “I felt I wanted out but then decided to stay in and work out a role for myself,” the prince – who is fifth in line to the throne – said during […]
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