The UK’s goal to become the financial innovation capital of the world edged closer to reality this week, as London was named home to half of all the startups on this year’s FinTech50 list.

The UK’s Information Commission Office (ICO) has approved an application by First Data to share personal customer data across international borders.

The European Union probe into tax-dodging multinationals moved into Belgium on Tuesday, where regulators believe the tax code gives an unfair tax break to multinational groups over other firms.

Russia is considering temporarily relaxing rules affecting how the country’s banks calculate the risks associated with certain consumer loans, according to a central bank source.

The eminent economist Dr Gerard Lyons has been appointed Senior Advisor at financial services consultancy Parker Fitzgerald, following a period at Mayor Boris Johnson’s office.