Deutsche Bank bets £250m on UK fintech Abound March 27, 2025 Deutsche Bank announced on Thursday morning it had given a £250m backing to UK fintech Abound, boosting the firm’s lending capacity. The latest round of funding compounds existing support from Citi, Waterfall Asset Management and LuminArx – and takes the fintech’s total credit ceiling to £1.6bn. Abound said the additional capital would provide “firepower to [...]
ChatGPT will make you dumber – if you don’t learn how to use it March 27, 2025 ChatGPT will make you dumber - if you use it incorrectly. Lewis Z Liu outlines how to use the tech to make you more intelligent, not less.
Spring Statement 2025: Reeves bets big on AI and tech March 26, 2025 Chancellor Rachel Reeves delivered her first Spring Statement on Wednesday, setting out an economic plan that could have major implications for the UK’s tech sector as she pivots towards AI. With billions in government cuts, a fresh push for AI-driven efficiencies, and no new tax hikes, the statement signalled a shift towards automation as a [...]
Labour’s attempt to use AI to power budget cuts is damaging. Here’s why March 26, 2025 The UK government is beginning to introduce AI tools for deep research, framing the technology as a tool to reduce costs and improve efficiency. Bank of England governor Andrew Bailey announced on Tuesday that Rachel Reeves needs AI to ‘move the needle’ on economic growth. Yet, tying AI to Reeves’ budget cuts risks discouraging its [...]
UK tech eyes tax moves in Spring Statement March 25, 2025 The UK’s tech sector is awaiting Rachel Reeves’ Spring Statement, as businesses look for support from the government on AI investment, digitalised healthcare, and scam prevention. Industry heavyweights are urging the Chancellor to consider targeted tax incentives and upskilling initiatives. They have also called for stronger regulatory frameworks to support growth and innovation amid burgeoning [...]
Spring Statement won’t ‘alter basics’, Starmer insists, amid tax cuts reports March 24, 2025 The Spring Statement this week will not “alter the basics” of public spending plans, Sir Keir Starmer has insisted.
Banks turn to AI to lead fraud prevention efforts March 23, 2025 As Britain’s biggest banks scale up their technology, lenders are turning to AI to fight fraud, a new report has found. NTT Data’s ‘Banking Trends 2025’ report found over half of UK banks thought generative AI was key to fraud prevention. Lenders have been urged to up their consumer protection abilities after Chair of the [...]
Top City analyst cloned in AI deepfake scam March 21, 2025 Michael Hewson – one of the City’s most respected market analysts – was cloned as part of an AI-powered social media scam. A fake video using AI to pose as the host of the Good Money Guide Podcast circulated on Facebook and Instagram this week, attempting to lure users into joining a Whatsapp group. The [...]
Natwest partners with OpenAI as FTSE giant scales up tech March 20, 2025 Natwest announced on Thursday it has entered a partnership with OpenAI to focus on “bank-wide simplification”. The FTSE 100 lender said it would leverage AI to meet customers’ needs faster and more effectively, whilst increasing productivity and efficiency across operations. The firm said it would deploy “some of the latest and most powerful developments in [...]
Softcat beats analyst expectations as profit jumps March 19, 2025 UK tech infrastructure firm Softcat beat analyst expectations last year as profit growth accelerated into the double digits over the last six months of the year. Gross profit at the firm increased by 12.1 per cent to £220.2m, above analyst expectations of £218.3m, Softcat revealed in its half-year report. Meanwhile, operating profit climbed 10.4 per [...]