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Articles by Tim Hyde
Housing affordability and liquidity - let's move
Time, money and stress - moving in Canada takes too much of each. The decision to move is a big one, and there will always be nearly overwhelming social, family, relationship, employment and varied other issues and considerations with impact on moving. Public policy can’t do much about many of these, but there is much that we can do to make the process faster, cheaper and less risky. By reducing the transaction costs and risks associated with moving we promote liquidity.
The Toronto Coyotes?
For many years I’ve maintained that I know exactly when the Toronto Maple Leafs will win the Stanley Cup. It will be within two years of Toronto getting a second NHL franchise. And by "Toronto," I mean Toronto – not Hamilton, Mississauga, Brampton or Newmarket. Here is my reasoning: the Leafs are the only team in the centre of hockey-mad Canada’s media capital. They have always received far more than their fair share of the media’s attention.
Two New solitudes - home construction and our climate: Op-Ed
Hugh MacLellan’s 1945 novel described a perceived lack of communication between English- and French-speaking Canadians. In 2022 we have two new solitudes that aren’t communicating – the “Housing Crisis” people and the “Climate Crisis” people. Buildings (after oil & gas extraction and transportation) are the third largest contributor to GHG emissions. This is particularly true in Canada, where we heat or cool our homes almost every day of the year.
Tech scale-up spends 100 million euros on acquisition spree
Global financial services provider iBanFirst announced today the acquisition of the London-based FX provider, Cornhill. The acquisition builds on iBanFirst’s long-term funding partnership with private equity firm Marlin Equity Partners, established in June 2021. The acquisition is testament to the company’s focus on accelerating its international expansion, strengthening partnerships, and cementing market leadership across Europe.
Trading regulator launches market tech review for good practice
Financial Markets Standards Board today launches its final Statement of Good Practice on Trading Platform Disclosures. Establishing best practices around what platform operators should disclose to their participants, the paper covers all areas of the fixed income, currencies and commodities markets and includes platforms that are covered by existing regulation (e.g., MiFID II) and those that aren’t (e.g., Single Dealer Platforms).
11 million Brits hit by broadband disruption in last year, costing economy £1.3 billion
Broadband outages hitting UK’s home workers have cost the economy £1.3 billion over the past year, according to the annual outages report from Uswitch.com, the comparison and switching service. Nearly 11 million consumers were affected by an internet outage that left them offline for three hours or more in the last 12 months — with those working remotely bearing the brunt of service disruptions.
Russia’s Killnet launches a ‘major attack’ on Lithuania ‘disrupting Lithuania's network interaction with the rest of the world’ - London Tech News
Russian hackers have launched a “major attack” on Lithuania and have cut off 70% of their internet infrastructure from the web after they refused to stop blocking EU sanctioned goods transiting to Kaliningrad. The Russian hacker group called Killnet said it took them just 39 hours to cut off 70% of Lithuania’s internet infrastructure from the web.
Starling Bank launches first UEFA Women's EURO fantasy football game - London Tech News
Starling Bank today launches the first ever Fantasy Football game for the UEFA Women’s EURO ahead of the official tournament kick off on Wednesday 6th July. The game has been developed by the tournament’s national banking partner to broaden representation for Women’s football, which has limited Fantasy Football games and has never had one for the UEFA Women’s EURO.
How viable is bitcoin?
Dismissing the possibility that Bitcoin could be the next global reserve currency is “naïve”, affirms the CEO and founder of one of the world’s largest independent financial advisory, asset management and fintech organisations.
Omi raises $6m in seed funding to expand modelling technology
Omi, the French SaaS software for modelling and rendering 3D photo and video for brands, today announces it has raised €6m in Seed funding. The round was led by Dawn Capital, Europe’s largest B2B technology investor, with participation from a range of angel investors including Founders Future’s Marc Ménasé who led the previous round, Zenly cofounder Alexis Bonillo, Deezer founder Daniel Marhely and Voodoo cofounder Laurent Ritter.
Your mortgage and the Interest Act - consumer protection?
After the US “Fed” raised its lending rate by 75 basis points, their media spent a lot of time analyzing the impact on home-BUYERS. When the Bank of Canada follows suit later this week, our focus will be on buyers but also on home-OWNERS. The difference is not as subtle as it seems. Look at stories from the US, and you will invariably see charts showing the impact on homebuyers of the Fed’s hike. The universal assumption in those charts is of a “30-year FIXED” mortgage.
Russians lead the world with the most data breaches in Q1'22 at 3.5M breaches - London Tech News
According to a CryptoMonday analysis, Russia reported the most data breaches in Q1 2022. The country reported 3.5 million such incidences representing an 11% surge in their Q4 2021 occurrences. That increase saw it leapfrog the U.S. as the most affected country globally. CryptoMonday’s CEO, Jonathan Merry, has been sharing his thoughts on the revelation. He holds, “You can’t divorce Russia’s data breaching woes from its incursion into Ukraine.
Private investors offered shares in spinouts via the University of Cambridge Enterprise Fund
Private investors are now able to invest in a fund from the University of Cambridge’s Enterprise hub, Cambridge Enterprise, which aims to commercialise the ideas and inventions of its academics, researchers, staff, students, and alumni.
Open banking pioneer Volt launches ultrafast account ownership authentication in key European markets
Open banking pioneer Volt, a UK-based, leading fintech company powering the growth of real-time payments in UK and Europe, is launching Verify, an ultrafast bank account authentication service for online merchants and businesses. Volt is launching Verify simultaneously in the UK and five key European markets: Ireland, France, the Netherlands, Germany and Austria. The fintech powerhouse plans further rollout of the product across additional European markets before the end of the year.
Fly Now Pay Later powers up the world’s first voice travel assistant
From today, US customers using the world’s first voice travel assistant service, MyVoiceTravel, will benefit from additional options to spread the cost of their flights at the time of booking.
Sadiq Khan bids to get 75,000 digitally excluded Londoners online as he launches Digital Inclusion Service pilot
A new scheme to help tens of thousands more Londoners get online and reduce digital exclusion has been launched today by the Mayor Sadiq Khan, in partnership with the London Office of Technology and Innovation (LOTI), and Good Things Foundation.
This is the big mistake crypto firms are making
Some major crypto firms need to stop making obvious, avoidable mistakes that destabilise the industry, cause financial chaos for investors and job losses for workers, says the CEO of one of the world’s largest advisory, asset management and fintech organisations.
50% of organisations lack trust in third parties to handle data collection
Half of all financial services organisations prefer managing web scraping practices internally, compared to just 11% that prefer to outsource the process completely, according to key findings from the new Oxylabs white paper, Alternative Data Unlocks Key Decisions in the UK & US Finance Industries. The survey found that completely outsourcing data collection is the least popular method while a hybrid option of combining internal web scraping practices and outsourcing was more popular (38%).
Global outage hits hundreds of websites
Thousands of websites around the world including Microsoft, Shopify, Peleton among others are down today after a major outage acontent delivery company Cloudflare. Anyone visiting websites such as Discord, Shopify, Peloton and JustEat were met with a ‘500 Internal Server error’ message. Cloudflare acknowledged the problem and worked to put a solution in place. ‘The Cloudflare team is aware of the current service issues and is working to resolve as quickly as possible.
Tech providers boom as open banking soars
Open Banking payments are going from strength to strength in the UK and Europe as use cases continue to expand, with Open Banking platform Token.io at the heart of developments. In the UK, the Open Banking Implementation Entity (OBIE) recorded a 210% growth in Open Banking payments between April 2021 and April 2022, with Token driving over 20% of this traffic.
Iranian cyberattack suspected behind false rocket sirens in Jerusalem
Life momentarily came to a halt last night in the Israeli cities of Jerusalem and Eilat as air raid sirens were triggered, despite there being no projectile in motion. The Israeli Military has announced that they suspect the false alarm to have been triggered by a cybersecurity attack at the municipal levels, not via military systems. Just two years ago, Iran had successfully breached six Israeli water management facilities, threatening the health and safety of civilians.
Fintech Proportunity launches the UK’s first zero deposit mortgage product
Proportunity, a London-based neolender, today announces it is working on bringing the UK’s first zero deposit mortgage product to market later this year. The announcement was made as part of its crowdfunding campaign with Seedrs to grow the business and help more people in the UK become homeowners sooner. With the deadline for the market’s biggest player, Help to Buy, brought forward to October this year, Proportunity aims to capture the £4.4bn market gap set to be left behind.
Luxury Brand VERTU Paris Partners with Binance for Launch Of New Smartphone NFT Collection
To celebrate the brand’s 22nd anniversary, VERTU Paris has unveiled they’ve partnered with Binance to launch the new VERTU Constellation X Ulm smartphone through an exclusive sales process. 1,000 NFTs will be on sale on the Binance NFT platform. The rest of the NFTs will be available for purchase on the decentralized platform Galler.io and the official VERTU Paris website.
Sustainable Neobank Green-Got launches green banking feature in France
In collaboration with climate engagement provider ecolytiq, sustainable neobank Green-Got has launched their digital green banking app. This partnership offers Green-Got customers a new kind of banking experience, one in which money goes towards a better future as customers discover new ways of taking climate action.
What the adoption of TeSmart building technology means for Greentech
Commercial customers accounted for 44% of the total energy savings due to energy-efficient programs in 2020. Keep reading if you’re looking for ways your business can become more environmentally accountable. This guide will show you how smart building technology can operate as Greentech to conserve energy and promote savings in your business. From IoT devices to building security, smart building technology can reduce your carbon footprint.
71% online gambling merchants suffering from increased promotion abuse
Almost three quarters (71%) of online gambling merchants have experienced an increase in promotion abuse in the last year, representing a significant dent in revenues,reveals fraud detection and payment acceptance specialist Ravelin.
Indoor Robotics raises $15m in series A to revolutionize building monitoring and security practices
Indoor Robotics, an indoor drone technology company that recently launched Tando™ drone, announced the closing of a $15 million in series A funding. The round of funding was led by Pitango and included Target Global, European Innovation Council Fund, and Spider Capital. This round enables Indoor Robotics to boost product development and enable intelligent indoor security worldwide. Developing an autonomous indoor security robot has challenged robotics designers for years.
WhatsApp hack preventing profile photo unprofessionalism
Research from YourBusinessNumber has revealed that one in 10 people admit to judging a colleague or client due to their WhatsApp profile photo or status update, while a third are unaware that they can adjust their settings to prevent certain people viewing them. Previous research by YourBuisnessNumber found that two thirds (66%) of us now communicate with clients and colleagues using instant message platforms such as WhatsApp, with a quarter of us doing so using our personal phones.
Solana coin, the most volatile among the big 10 in the last 1 year
Tradingplatforms.com analyzed the daily volatility of the top coins over one year to find out which ones had the highest volatility. The results were surprising! Solana (SOL) topped with an annualized volatility rate of 162% and an average daily volatility rate of 8 percent. So what could be behind these figures? According to Edith Reads, Tradingplatforms.com’s financial analyst, “There has been constant downtime on the Solana network.
Apple facing multimillion-pound lawsuit over old phones
Apple is facing a multimillion-pound lawsuit over allegations that it trying to phase out older phones. The claim relates to the iPhone 6, 6 Plus, 6S, 6S Plus, SE, 7, 7 Plus, 8, 8 Plus and iPhone X models. The case has been brought by Justin Gutmann, a consumer rights campaigner. If he wins, Apple could have to pay damages of more than £750m. The money will be spread out between the approximately 25 million people who bought one of the affected phones.
One in ten LGBTQ+ tech entrepreneurs have been DENIED investment on the basis of their identity
The commencement of this year’s London Tech Week holds at the top of its agenda the issues of Diversity & Inclusion (D&I), as representatives from across the global tech industry gather to discuss trends within the sector. However, taking place during the month of Pride, wider conversations must be held specifically pertaining to LGBTQ+ inclusion within the industry.
Tech fortunes will be made as panic-selling triggers bear market
Fortunes will be made in this current bear market as in-the-know investors use the 20% drop as a major buying opportunity, affirms the CEO and founder of one of the world’s largest independent financial advisory, asset management and fintech organisations. The observation by Nigel Green of deVere Group, a game-changing financial services giant, comes as the S&P 500, Wall Street’s main stock index, shed 3.9% on Monday.
London ranks as world leading startup hub
London continues to rank as one of the world’s leading places to setup and grow a tech startup, according to a comprehensive new report from Startup Genome, rating global start-up ecosystems. Launched at London Tech Week, the 2022 Global Startup Ecosystem Report, placed London as the world’s number two startup hub alongside New York, and second only to Silicon Valley.
EcoVadis Secures $500m investment led by General Atlantic venture
EcoVadis, the leading provider of globally trusted business sustainability ratings, has raised $500M with plans to accelerate its vision of influencing every business decision with sustainability intelligence, becoming a sustainability impact unicorn.
Which cryptocurrencies are most popular across the pond?
New research has revealed the cryptocurrency that each state wants to sell the most with Shiba Inu taking the top spot. The research conducted by Los Muertos analyzed Google Trends data to establish the cryptocurrency that each state wants to sell the most amid the current cryptocurrency crash, based on searches. The analysis revealed that Shiba Inu had the highest number of states wanting to sell the cryptocoin with a total of nineteen states, including Florida, Nevada, New York and Tennessee.
Bitcoin crash: Why the case for cryptocurrencies as digital gold has diminished
The fall in the value of Bitcoin underscores a broader pullback from risky assets among investors worried about rampant inflation and rising interest rates. The case for Bitcoin as digital gold has all but been diminished as the price of the crypto has followed falls in global stock markets – and then some. While the FTSE All Share and S&P 500 are down almost 7% and 19% this year, respectively, Bitcoin has lost almost 45% of its value in the same period.
$1.7 billion hacked from top 10 centralised crypto exchanges over the last decade
A new study from BestBitcoinExchange.io has assessed which of the top crypto exchanges have suffered the worst hacks in the past, which are the safest to trust going forward, and which should be avoided. The experts analyzed data from the top 25 crypto exchanges over the last ten years, to identify which are the most susceptible to hacks, and which are the safest exchanges to store your cryptocurrency.
Two-thirds of businesses believe the Metaverse will have a major impact on their company
Almost two in three UK businesses project that the metaverse will have a major positive impact on their organisation in the future. Despite this, nearly a third of U.K. consumers have never heard of the metaverse, according to findings from Accenture.
As Crypto markets plummet to a third of their value, our survey shows that 60% of UK investors used borrowed funds to buy their coins
A study by KIS Finance, has revealed that two out of three cryptocurrency investors borrowed money to make their purchase, rather than using income and/or savings. Overall, more than two thirds (64%) of those who have invested in cryptos, used one or more credit facilities to do so. Due to the previous huge increases in the value of crypto currencies, this may have seemed like a good investment strategy at the time.
CMA plans investigation into Apple and Google's 'effective duopoly' on mobile - London Tech News
The Competition and Markets Authority (CMA) is consulting on the launch of a market investigation into Apple and Google’s market power in mobile browsers and Apple’s restrictions on cloud gaming through its App Store. In parallel, it is also taking enforcement action against Google in relation to its app store payment practices. This follows a year-long study of the companies’ mobile ecosystems, the final report of which has been published today.
Here’s what to expect when investing in NFTs
Non-Fungible Tokens (NFTs) have emerged as the latest craze to engulf the crypto world over the past 12 months. The process of storing and owning a unique (non-fungible) digital asset via blockchain technology has seen the industry capture the interest and disposable income of many. However, there are fears that this new and exciting world consisting of ‘bored apes’, GIFs and cartoon heads has already reached its peak.
Why Bitcoin will skyrocket again
The Bitcoin price recovery is now underway, and we can expect a “significant bounce” in fourth of this year, predicts the CEO and founder of one of the world’s largest independent financial advisory, asset management and fintech organisations. The prediction by deVere Group’s Nigel Green comes as the powerhouse cryptocurrency finally snaps its longest-ever weekly losing streak.
Tencent's $32.2B gaming revenue is the highest for a public company - London Tech News
StockApps has presented data showing that Chinese gaming giant Tencent earned $32.2B from its gaming investment. That figure is the most revenue that a public company made in the eSports sector. Further, Tencent’s earnings grew by almost 10% in year-on-year terms. Weighing in on the matter, StockApps’ Edith Reads had this to say: “Tencent’s video gaming assets were all the rage inside and outside China. For example, the MOBA Honor of Kings was a fan favorite domestically.
Top of the flops: Tech IPOs hits and misses from past decade
Shopify, Atlassian and Coinbase are among the IPO hits and misses over the past decade, in a list co-created by Rows – the next-generation spreadsheet for businesses, backed by Lakestar, Accel, and Cherry Ventures – launched on the 10th anniversary of Facebook’s infamous listing. In May 2012, Facebook was the third-largest IPO in US history. Ten years later it still holds one of the largest valuations at IPO, as found in Rows’s list, with $104bn.
The future of NFTs: what next for those Bored Apes and Cryptopunks?
Non-Fungible Tokens (NFTs) have emerged as the latest craze to engulf the crypto world over the past 12 months. The process of storing and owning a unique (non-fungible) digital asset via blockchain technology has seen the industry capture the interest and disposable income of many. However, there are fears that this new and exciting world consisting of ‘bored apes’, GIFs and cartoon heads has already reached its peak.
New partnerships for BrandStak IO
BrandStak – a new, easy-to-implement and cost-effective AI / ML -based data unification, analytics and tech integration platform, designed for augmented decisioning in the consumer and retail sector – is pleased to announce two new strategic partnerships. BrandStak has been incubated by the Emerisque Group, a specialist global investor in mid-cap consumer and retail brands.
HM Prison & Probation Service under fire for losing £98 million on system for electronically tagging offenders
HM Prison & Probation Service (HMPPS) has not managed to transform the system for electronically tagging offenders as it intended and has lost £98 million trying to do so, according to a report by the National Audit Office. In 2011, HMPPS launched a transformation programme aimed at improving the efficiency and capability of electronic monitoring (tagging of offenders).1 This has been unsuccessful because HMPPS has failed to deliver a new case management system (Gemini).
Bain & Company identifies tech strategy to accelerate a banks net-zero transition
The world’s banks are accelerating on the carbon transition, but they face three major strategic challenges to reaching net zero emissions by 2050, according to new research from Bain & Company. As financed emissions—those associated with an organisation’s lending or investment activity—represent at least 95% of a bank’s overall carbon footprint, it is essential to prioritize granular measurement of these emissions along with a long-range strategy to capture value from the carbon transition.
HSBC's financial crime lead joins fast-growing tech firm - London Tech News
ECOMMPAY, a leading international payment service provider and direct bank card acquirer with its own fintech ecosystem for business growth, has appointed Francisco Mainez as its Head of Financial Crimes and Payments Digital Transformation.
Twitter twist: Elon Musk could walk away from mega deal
Ever since it emerged one of Twitter’s most famous tweeters had snapped up a chunk of the company, market watchers have been enthralled. There have been more twists and turns in this takeover bid than your average soap opera and each story line seems a little more farfetched than the last. However, this latest plot twist has been well signposted, the only surprise today is that the story is being played out via traditional channels rather than on the platform at the centre of things.
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