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The City View: Innovate Finance summit roundup, and two Lidl adverts banned

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06.04.2022

Today Andy Silvester chats to City A.M. reporter Charlie Conchie, and whistles through the main headlines you need to know.

Andy and Charlie go through this week’s fintech Innovate Finance summit — they discuss the London Stock Exchange CEO’s comments yesterday on bosses needing a pay boost; Ron Kalifa’s views on the mindset shift needed by investors to be willing to back long-term growth opportunities; the Klarna CEO’s perspective on the UK’s approach to financial regulation post-Brexit; and the political push on crypto.

And in the headlines, the boss of crowdfunding platform Seedrs has hit out at regulators, claiming that they’re stifling growth; the Bank of England is expected to hike interest rates four more times this year, the fastest pace since 1988; and two of Lidl’s adverts have been banned.

Episode transcript (auto-generated)

Andy Silvester 0:08 Good afternoon and welcome to the City View podcast with me Andy Silvester editor here at City A.M. — in a minute I’ll be joined by Charlie Conchie, our FinTech and VC and private equity reporter. We’ll go through some of the big stories out of the Innovate Finance Global Summit held earlier this week at the Guildhall marks the high point of London FinTech week and event growing in its importance alongside the importance of FinTech to the wider London economy. Firstly, the corporate and economic headlines and the boss of crowdfunding firms Seedrs, has hit our UK regulators, so they’re claiming they’re stifling the potential of UK startups after the firm’s merger with a competitor was blocked last year. Jeff Kelisky said the Competition and Markets Authority and the underlying policy from government also hampering the potential of growth firms to set up bigger businesses. As a result of choking off a stream of companies who might want to scale up in the UK. Kelisky told City A.M. that their active policies to block acquisitions by the big companies are pretty small technology companies. Meanwhile, the Bank of England is expected to hike interest rates at the quickest pace since 1988. This year. The year Wimbledon won the FA Cup Final beating Liverpool one nil if anybody’s particularly fussed about that. I think that might just be me. Threadneedle Street or lift borrowing costs for only four more times this year take into account the total number of hikes to six. According to forecasts on investment banking giant JP Morgan, the bank shift in policy stands in stark contrast to last year’s agenda, when it kept rates at a record low 0.1% for around a year and a half despite inflation beginning to take off in the middle and back end of 2021. Rates were kept at record lows to support the UK economy through the economic shock delivered by the COVID-19 crisis and the accompanying restrictions on Brits daily and spending lives. rates will settle at 1.75% by the end of this year reckon JP Morgan and possibly hit as much as 2.5% year after. Elsewhere, Liddell has been hit with a ban for two averts author he claims shoppers could save certain amounts of money compared to Tesco following a complaint not from Tesco but from rival grocer Aldi. The advertising watchdog said the adverts which was shown north of the border in........

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