Starling Bank is contemplating a listing in New York in light of its plans to expand to the US market. Chief financial officer Declan Ferguson indicated that a US listing might result in a higher valuation and noted that the final decision is still fluid. Additionally, UK startups face challenges such as retaining their innovation amid competition. It's crucial for the UK to support its startups and foster an ecosystem that promotes growth, encouraging local investment and collaboration among various sectors to secure a competitive edge in the global market.
We continue to observe what is happening externally with our peers, and also what is happening on the global stage in terms of the UK versus US [stock markets].
The UK faces a challenge: how to retain its most innovative startups and homegrown unicorns. The House of Lords has even warned that if we don't stop tech firms moving abroad or selling to foreign buyers, we risk losing global competitiveness, economic growth and top talent.
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