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Daily Briefing

Tuesday 19th March @ 10:45am

Last week we observed how the Brexit process is uncovering significant differences between the legal systems of the UK and the EU. Reporters in Brussels were said to have cried out in surprise when the grandstanding Speaker of the Commons John Bercow announced on Sunday that Theresa May would not be allowed to bring forward her unchanged Brexit agreement for a third time. The announcement threw the Brexit process into even more chaos. Bercow cited a precedent from 1604. Some political...MORE

Friday 15th March @ 9:03am

This is what we're reading this morning on digital finance and banking:Visa Europe will have to implement changes following last year's outagePundits agree that credit cards need a digital refresh

Thursday 14th March @ 1:33pm

Little wonder that EU regulators are looking at Mark Zuckerberg's plan to integrate Messenger, Whatsapp and Instagram with some trepidation. Yesterday, reports came in from around the world that functionality was missing from services, and in some cases, users used to signing in to other services via the Facebook login were unable to proceed. "Facebook and Instagram appear to be partially down for some users around the world today," wrote The Verge yesterday. "While you can...MORE

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Wednesday 13th March @ 9:08am

A hard Brexit it will be, as things now stand. Lafferty's Brexit Council met in Westminster yesterday as the House of Commons was getting ready to vote on the latest but essentially unchanged offering from Theresa May, which the Commons promptly rejected by a margin of 145. This, remember, is the deal already negotiated between the UK and the EU. The Prime Minister had hoped to limit that loss to 100 seats. Today the Commons will vote on whether to prevent a no-deal, which...MORE

Tuesday 12th March @ 3:49pm

The Lafferty news team is in Westminster today for the Lafferty Brexit Council, covering developments as they happen at the UK Parliament. Lafferty Daily briefing will return...MORE

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Monday 11th March @ 1:45pm

Being conservative is a good thing for a bank, but banks are generally so far behind the cultural curve that they usually have the opportunity to avoid the mistakes of other industries. Now that banks are establishing that their biggest threat comes from the big tech sector, they are reacting by — yes, you guessed it — copying the mistakes made by big tech companies, such as thinking that table football and free juice will attract millennial talent. "Seventy-seven percent...MORE

Friday 8th March @ 9:57am

The equivalent of belatedly shutting a country-sized barn door, banks in the Nordic countries have launched a massive recruitment drive to hire compliance professionals. As a compliance worker based in Copenhagen told Reuters: "We've become the new 'business rock stars'". The delusional compliance professional needs to up his game: DJ D-Sol over at Goldman knows that kids these days are into banging EDM, not dad rock. "He saw a 50 percent jump in...MORE

Thursday 7th March @ 10:37am

Italexit? EU mandarins (yes, we jest) are feeling queasy this morning as Britain inches down the diving board and other bits of the EU suddenly look less secure. It's the great merchant princes of Italy that are often credited with inventing modern banking, flush with wealth from trading across the Silk Road that once ran from Venice to Xi'an in central China. Modern Italy has been a US protectorate, but like Greece and the other peripheral countries of the EU, it...MORE

Wednesday 6th March @ 10:10am

When Airbus announced last year that it would close down its UK operations, one Brit lamented on Twitter that the country was literally losing its wings: the UK plant manufactures wings for the planes. Now it's getting even trickier. Bombardier in Belfast is now whispering in the ear of the DUP, warning that it faces a similar disaster. The Canadian manufacturer took over Short Brothers, the Belfast-based aerospace group that along with famed shipbuilder Harland and Wolff...MORE

A Revolut payment card
Tuesday 5th March @ 10:16am

Revolut has much to live up to, with a name like that. If its online community board is anything to go by, Revolut's customer numbers will be falling this week. "This article completely changed my attitude towards Revolut," writes one user. "I will now look for an alternative service and cancel my Revolut account." The article in question, published last week in Wired magazine, describes a culture that sounds in thrall to the 'move fast and break...MORE

Monday 4th March @ 12:21pm

China's online trends continues, with mobile wallets gaining ground as the form factor of choice. Four hundred million people used mobile payments to order food, a jump of 25 percent. "A total of 600 million people used online payment in 2018, up 13 percent year on year, said the statistical report from the CNNIC, published earlier this week," says "When people shopped offline, they also preferred to use mobile wallets. About 67.2 percent of...MORE

Helen Dixon
Friday 1st March @ 9:53am

The New York Times reports that a team at WhatsApp are working on a digital coin for users to send value over the network. "Facebook is looking at pegging the value of its coin to a basket of different foreign currencies, rather than just the dollar, three people briefed on the plans said. Facebook could guarantee the value of the coin by backing every coin with a set number of dollars, euros and other national currencies held in Facebook bank accounts," writes...MORE

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