‘In the UK there's a lot of growth to be had, a lot of opportunity'
The government gathered leading fintech entrepreneurs to kick off UK fintech week in London this week and was met with a resounding thumbs up.
Jaidev Janardana, co-founder and chief executive of the neobank Zopa was among those providing an upbeat assessment of the industry's prospects. Last week, it said it doubled pre-tax profits to £34.2 million in 2024 and grew its customer base to 1.4 million people.
'In the UK there's a lot of growth to be had, a lot of opportunity from sectors, such as fintech, to grow. I'm really encouraged by what the government is doing here to make sure we continue to remove barriers to growth,' he told the audience from financial services firms and government agencies.
Richard Davies, chief executive of
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sky News
32 minutes ago
- Sky News
Trump's administration reviews AUKUS submarine deal with Britain and Australia
The US has launched a formal review of the multi-billion pound AUKUS submarine deal with the UK and Australia. The defence pact, which is developing a new fleet of nuclear-powered hunter-killer submarines for the UK and Australia, was agreed under Joe Biden 's administration in 2021. The alliance, which also covers collaboration on other advanced technologies, is seen as an attempt to counter the influence of China. But Elbridge Colby, the Pentagon's top policy advisor, is among vocal sceptics in Donald Trump 's administration. "We are reviewing AUKUS as part of ensuring that this initiative of the previous administration is aligned with the President's America First agenda," a US official said. "Any changes to the administration's approach for AUKUS will be communicated through official channels, when appropriate." AUKUS envisages Australia acquiring up to five US Virginia-class nuclear-powered submarines from 2032 before the UK and Australia design and build a new class of submarine with US assistance. Australia's defence minister Richard Marles said on Thursday he was confident the pact would still go ahead and his government would work closely with the US while Mr Trump's administration conducts a review. "This is a multi-decade plan. There will be governments that come and go and I think whenever we see a new government, a review of this kind is going to be something which will be undertaken," he told the Australian Broadcasting Corporation. It comes ahead of Mr Trump's first expected meeting with Australian prime minister Anthony Albanese on the sidelines of the G7 meeting in Canada. Security allies will discuss a request from Washington for Australia to increase defence spending from 2% to 3.5% of gross domestic product (GDP). AUKUS is at the centre of the UK's planned expansion of its submarine fleet, with up to 12 attack submarines expected to be built for the Royal Navy. The deal is said to be worth more than £175bn. When it was signed, all three countries - the US, UK and Australia - had different leaders. In May, the US president's new ambassador, Warren Stephens, used his first public speech to back the partnership, highlighting how "vital the US-UK relationship is to our countries and to the world". A UK government spokesperson said: "AUKUS is a landmark security and defence partnership with two of our closest allies. "It is one of the most strategically important partnerships in decades, supporting peace and security in the Indo-Pacific and Euro-Atlantic, while also delivering jobs and economic growth in communities across all three nations."
The Independent
35 minutes ago
- The Independent
Wimbledon increases prize money by seven per cent to £53.5m total pot this year
Wimbledon prize money will increase by seven per cent to a total pot of £53.5million for this summer's Championships. The winners of the men's and women's singles titles will each receive £3million, an increase of more than 11 per cent on 2024, while a main draw spot is worth a minimum of £66,000, up 10 per cent year on year. The All England Club's announcement comes amid growing player demands for a bigger share of grand slam profits. In April, 20 leading players sent a letter to the heads of the four majors calling for greater contributions and discussions were held at a meeting during the French Open. At Wimbledon's pre-tournament media briefing, chair Debbie Jevans said: 'We are absolutely committed to continuing our long-standing commitment to player compensation. 'We're immensely proud of the fact that if you look back 10 years, you can see the increase over that period (of 100 per cent) and seven per cent this year. 'We have listened to the players, we have engaged with the players. Of course we will always listen and discuss with them but the focus on just the prize money at four events, the grand slams, does not get to the heart of what the challenge is with tennis. 'The challenge with tennis is the fact that the players don't have an off season, which they want, they have increasing injuries that they're speaking about and we've always said that we as Wimbledon are willing to engage and talk with the tours to try and find solutions and that door remains open. 'As yet, there hasn't been any proposal to us as to how the tour is able to change its structure. 'There's a bigger picture here but, as a tennis player, they're always going to, I think, ask for more money.' Two big changes at this year's tournament – which starts on June 30 – had previously been announced, with the singles finals moving from 2pm starts on the final weekend to 4pm, while line judges are being replaced by a live electronic calling system. The latter decision follows a move within the wider sport, although the French Open has resisted change and this year's event was again held with line calls decided purely by human officials. Wimbledon's removal of line judges was met with dismay by many and the All England Club revealed around 80 former officials would be employed this year as match assistants, with two on each court offering support to the umpire, while they will also provide back-up, should the electronic system fail. Behind the scenes, Wimbledon's biggest project remains the planned expansion into neighbouring Wimbledon Park, which would add a further 39 grass courts but is currently mired in legal challenges. Although planning permission has been granted, a local protest group has brought a judicial review, which will be heard at the High Court on July 8 and 9 during the second week of the tournament. A hearing into whether there is a statutory trust on the land will be heard in January 2026, further delaying the project, plans for which were first submitted in 2021. Wimbledon, meanwhile, will continue to provide support for Ukrainian players in terms of practice facilities and accommodation.
The Independent
36 minutes ago
- The Independent
Unruly travellers to be hit with fine amid clampdown on ‘air rage'
Ryanair will fine passengers £500 if they are offloaded from a flight due to misconduct. The airline is amending its terms and conditions to include the warning and will take the fine from the card used for booking or any Ryanair vouchers. Ryanair says it reserves the right to recover additional costs, damages, or liabilities resulting from passengers' actions. Earlier this year, Ryanair filed legal proceedings against a passenger who disrupted a flight, seeking over €3,000 in damages and imposing a five-year ban. Ryanair CEO Michael O'Leary has called for a two-drink limit at airports due to a rise in air rage incidents.
