Lifestyle Apr 8, 2023

French and German tourists avoid UK due to post-Brexit travel restrictions

The Pentagon is investigating the authenticity of leaked classified US and NATO military information about Ukraine that has been circulating on social media. The documents, which include maps and slides, could be useful to Russia, according to The New York Times. Ukrainian officials have called the documents fake and blamed the Russians for their dissemination. The emergence of the documents raises questions about the timing of the planned Ukrainian counteroffensive and what either side knows about the other’s preparations for it. Tourism leaders fear that French and German tourists are avoiding the UK due to post-Brexit travel restrictions on ID cards. Since October 2021, EU citizens have needed a passport to enter the UK, causing a significant drop in bookings from France and Germany. School groups are particularly affected, as one or two children without passports in a class of 30 can lead teachers to choose alternative destinations. The decline is also damaging the UK's standing in the perception of French and German people, with Visit Britain reporting a significant drop in rankings.

Tech Mar 6, 2023

Abound Raises £500 Million for Open Banking-Based Lending Business

Abound, a UK-based consumer lending service, has raised £500 million ($601 million) to fuel its open banking-based business, which combines open banking data and machine learning algorithms to build a better credit score for applicants. Abound is planning to expand its direct-to-consumer offering in the UK, and as a B2B service in Europe. The service issues loans of between £1,000 and £10,000, and has been growing on average 30% month-on-month, with over 150,000 customers to date. The new funding includes both debt and equity, with Citi and Waterfall Asset Management providing the debt portion, and K3 Ventures, GSR Ventures and Hambro Perks providing equity.

Celebrity Mar 4, 2023

Prince Harry Discusses Mental Health and Personal Journey with Doctor

Prince Harry speaks with Dr. Gabor Maté about his book "Spare," his journey towards authenticity, and mental health awareness. Dr. Maté diagnoses Harry with PTSD, ADD, anxiety, and depression, which he believes are related to his childhood and the death of his mother. Harry discusses his past substance use, his wife Meghan Markle, and his children. The conversation focuses on mental health, personal growth, and breaking away from the Royal Family. The takeaway is that Harry believes strongly in his work to bring mental health awareness to the forefront, using his own life and story to do so.

Economy Mar 3, 2023

SoftBank’s Arm to pursue US-only listing, UK stock market fears grow

Arm, a British chip designer owned by SoftBank, and building materials group CRH intend to pursue stock market listings in the US, dealing a blow to the UK's post-Brexit vision. This decision raises concerns about the UK stock market's competitiveness with international rivals. Arm and CRH aim to seek a US-only listing, despite the British government's lobbying efforts to persuade them to list their shares in London.

Finance Mar 1, 2023

Revolut reports first-ever annual profit

Revolut, a financial technology company, has reported its first-ever annual profit, with revenues of £636.2 million ($767.1 million) for 2021, tripling its previous year's figure. Revolut's CFO, Mikko Salovaara, attributes this success to the company's diversified business and strict cost control. The company expects revenues to grow over 30% to £850 million in 2022. Revolut offers digital banking, money transfers, cryptocurrency, and stock trading through a single app and competes with companies such as Wise, Monzo, and Starling. Read on to learn more about Revolut's success and challenges.