Brexit talks resume / Curtains for N26 UK bank accounts / Andrew Yang discusses fintech and Covid-19

By Robert Scammell


Good morning, here’s your Wednesday morning briefing. Look out for these three things happening around the world today.

Brexit talks resume

The UK and EU’s chief negotiators will today seek to get Brexit negotiations back on track following the disruption caused by the coronavirus pandemic.

In March the EU’s lead negotiator, Michel Barnier, tested positive for Covid-19, while his UK counterpart David Frost has been self-isolating after displaying symptoms of the virus.

Today’s call will seek to establish dates for new rounds of negotiations that will determine the future relationship between the two sides.

While the UK formally left the EU in January, it remains in a transition period until the 31 December 2020. The coronavirus has put pressure on Boris Johnson to request a one-year extension, but the prime minister has so far been adamant he will not use it.

Curtains for N26 UK bank accounts

As of today, UK consumers will no longer be able to access accounts opened with app-based bank N26.

In February the challenger bank said it would stop operating in the UK because post-Brexit it would no longer be able to operate in Britain using its European banking licence.

N26, which has some 200,000 customers, is one of many app-based banks taking on the established banks. However, rivals Monzo and Starling will both continue to operate in the UK with their UK banking licences.

Customers have had until today to transfer all funds from N26 accounts, cancel direct debits and pay off overdrafts.

Andrew Yang discusses fintech and Covid-19

Former presidential candidate Andrew Yang today takes part in an online discussion about the future of fintech during the coronavirus pandemic.

During his campaign, Yang received the backing of Tesla CEO Elon Musk and voiced support for universal basic income and addressed concerns around automation’s effect on jobs.

The entrepreneur, who has spent time at various startups and early-stage growth companies, dropped out of the presidential race on 12 February.

Today’s talk sees him discuss how financial institutions and businesses are protecting consumer privacy during the coronavirus pandemic with the CEO of Credit Karma Kenneth Lin, Axios CEO Jim VandeHei, and Business Editor Dan Primack.

Tuesday’s Highlights


Supreme Court teleconferencing: The future of legal proceedings?

Coronavirus: ‘Robocop’ will now tell you to wash your hands

Coronavirus case studies: How AKQA is using radio to maintain company culture during lockdown

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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