Share
One in five workers in a nonroutine job will rely on artificial intelligence (AI) for at least part of their role, according to forecasts. The growing volume and complexity of business data have forced many firms across a variety of industries to adopt AI to boost growth. According to data gathered by LearnBonds, this trend…
Share
Beyond Meat (NASDAQ: BYND) stock price has been on a roller coaster since it began trading on the New York stock exchange early last year. The vegetarian food producer’s aggressive sales growth remains the biggest driver of its share price performance over the past few months. Beyond Meat stock price bounced back early this year…
Share
Monzo has hit 4 million customers, with the five-year-old app-only bank saying it is signing up new accounts at a rate of 40,000 a week. However, that rapid rate appears to be slowing. The 4m customer milestone – which appears on the bank’s website – comes five and a half months, or 169 days, after…
Share
Waymo, the self-driving arm of Google’s parent company Alphabet, has raised $2.25bn, the first time the venture outside money since the project began development more than 11 years ago. The fundraising round was led by Canada Pension Plan Investment Board, Silver Lake, and Mubadala Investment Company, Magna, Andreessen Horowitz, and AutoNation. Waymo (a model pictured)…
Share
Investment for global fintech startups in 2019 was “just shy” of record levels 12 months before, despite trade tensions between China and the US and ongoing Brexit negotiations. Worldwide investors poured a total of $135.7bn into the sector across 2,693 deals last year, which “fell just shy of 2018’s record” of $141bn, according to the…
Share
British digital banks, such as Monzo and Revolut, added more than a million customers a month in the last six months of the year to notch up almost 20 million customers in 2019. But despite that breakneck pace, the amount customers held in the accounts of these new app-only banks slumped by a quarter to…
Share
Intuit (NASDAQ: INTU), the owner TurboTax and Quickbooks, plans to buy US personal-finance platform Credit Karma for about $7bn – a strategy that expands its penetration into consumer finance. Credit Karma is among the most popular platforms that offer free access to credit scores and borrowing history. It also offers credit monitoring, alerts to possible…
Share
Swiss money manager Julius Baer has been banned from launching acquisitions after its regulator found it fell “significantly short” of money laundering rules for almost a decade. In a highly critical report, Swiss Financial Market Supervisory Authority Finma said the investment firm was guilty of a series of failings including cases of corruption linked to…
Share
Morgan Stanley has agreed to buy online trading brokerage ETrade for $13bn, in the biggest takeover by a major American bank since the 2008 financial crisis. The Wall Street giant said the all-stock deal “positions Morgan Stanley to be an industry leader in Wealth Management across all channels and wealth segments”. ETrade has more than…
Share
US private equity buyouts of UK firms jumped by more than half last year to £14.2bn, as Brexit and election uncertainty depressed the value of British companies. The value of the deals US buyout firms struck in Britain lifted by 53 per cent last year compared to 12 months ago, according to data from law…
