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UK Economy on the brink of recession as spring statement awaits

UK Economy on the brink of recession as spring statement awaits

The UK economy faces recession risk with high interest rates and inflation expected to increase borrowing by £15 billion by 2030. Economic forecasts for 2025-2026 have been downgraded, and consumer sentiment has hit a 15-month low due to job insecurity and high taxes.

Revolut and Visa bring legal challenges against UK payments regulator

Revolut and Visa bring legal challenges against UK payments regulator

Revolut and Visa challenge the UK’s PSR over a proposed cap on international transaction fees, arguing the regulator overstepped its powers. European banks and fintechs claim the cap will make them lose money post-Brexit. Both seek a judicial review for a fair process.

Pioneer AI Foundry and Cykel AI secure oversubscribed equity funding

Pioneer AI Foundry and Cykel AI secure oversubscribed equity funding

Cykel AI, a partner of Pioneer AI Foundry, has completed an oversubscribed £800,000 equity financing to enhance AI-driven digital workers, Eve and Samson. The funding underscores market confidence and aligns with Pioneer's recent capital raise.

Brex aims for stability following operations revamp

Brex aims for stability following operations revamp

Brex, a $12.3 billion corporate card startup, streamlined operations by laying off 20% of employees and adopting a quarterly product release cycle. These efforts have stabilized cash burn and improved product quality.

R1 and Palantir Technologies introduce R37: Transforming healthcare financial performance

R1 and Palantir Technologies introduce R37: Transforming healthcare financial performance

R1 and Palantir Technologies launch R37, an AI lab transforming healthcare financial performance. Leveraging R1's extensive data and Palantir's AI, the lab aims to develop intelligent automation solutions for coding, billing, and denials management, with full deployment planned for H2 2025.

NPRE amends withdrawal from AM Best rating, strengthens asset position

NPRE amends withdrawal from AM Best rating, strengthens asset position

NPRE reports 53% growth in insurance revenue and a 174% increase in total cash and investments for 2024. Despite AM Best's rating withdrawal, NPRE is engaging with other rating agencies to secure a more accurate assessment. The company remains committed to transparency and long-term success.

Credit Suisse and Silicon Valley Bank: Justice at Two Speeds

Credit Suisse and Silicon Valley Bank: Justice at Two Speeds

SVB's collapse on 10 March 2023 led to a FDIC lawsuit against 17 executives for negligence. Credit Suisse's leaders faced no such accountability, highlighting regulatory differences. SVB is criticised for its reliance on long-term government bonds and an imprudent £294 million dividend.