Odey: Hedge fund in ‘active discussions’ with brokers amid misconduct allegations June 9, 2023 Odey Asset Management has revealed it is in “active discussions” with its broker partners, after fresh misconduct allegations published against its founder led banks to review their relationship with the fund. It followed a report in the Financial Times (FT) – together with Tortoise Media – which included several allegations of sexual harassment or misconduct [...]
Move aside Marbella, Ibiza and Tenerife, the UK is set to bask in 28C as weather alert upgraded June 9, 2023 The UK Health Security Agency (UKHSA) has upgraded an alert for hot weather in five regions of the country as warnings have also been issued for thunderstorms over the weekend. Parts of the country are predicted to be hotter than Marbella, Ibiza and Tenerife in the coming days as a “plume of warm air” moves [...]
FTSE 100 live: London markets close lower on strong pound ahead of Fed and ECB next week June 9, 2023 Markets in London closed lower on Friday as a stronger pound and uncertainty over the global economy weighed on investor sentiment. The FTSE 100 closed 0.5 per cent lower while the FTSE 250 finished the week 0.1 per cent lower. Caution was the watchword in London today ahead of next week, which will be big [...]
Mark Carney: Ex BoE chief’s Brookfield set to win Network bidding war as £2.2bn offer backed by board June 9, 2023 FTSE 250 Network International has agreed a £2.2bn takeover offer from Canadian private equity giant Brookfield, becoming the latest in a string of listed firms to be taken private. Brookfield, which is headed by former Bank of England governor Mark Carney, will pay 400 pence per share representing a 64 per cent premium to Network’s [...]
Lifeline for Amigo? Shares in subprime lender rocket on potential investment from shareholder June 9, 2023 Shares in Amigo surged after it agreed an exclusivity agreement with shareholder and financier Michael Fleming, raising the possibility of a debt investment in the subprime lender. Exclusivity agreements mean borrowers can not obtain funds from any other source. Fleming’s period of exclusivity expires on 6 September this year. Its shares were trading over 200 [...]
London bias ‘baked into’ system as MPs warn UK can no longer ‘fly blind’ on attracting foreign investment June 9, 2023 The Government is not doing enough to encourage foreign investment into areas of the UK outside London and the South East, MPs have warned. An economic bias remains “baked into” the system, leaving barriers to the levelling up agenda, the Commons Public Accounts Committee said. The group has told the newly formed Department for Business [...]
UK economy will ‘flatline’ as stubborn inflation and a tight jobs market drag on growth June 8, 2023 Britain remains on course to dodge a recession this year but growth will "flatline" as stubborn inflation and a tight jobs market continue to drag on the economy, according to the latest forecast from the British Chambers of Commerce.
JP Morgan and Morgan Stanley review prime broking ties with Odey Asset Management June 8, 2023 JPMorgan and Morgan Stanley are reviewing their prime broking relationships with Odey Asset Management after allegations of sexual misconduct and bullying by Crispin Odey reported by the Financial Times and Tortoise Media on Thursday, sources familiar with the matter said.
SMEs are ready to ramp up investment despite concern over wider economy, new research finds June 8, 2023 Small and medium-sized enterprises (SMEs) are increasingly optimistic about their own future, despite concerns around the wider economy. According to Opinium data collected for Paragon Bank, 45 per cent of SMEs expect cashflow to improve over the next three months. Over the course of a year this figure jumps to 55 per cent. Over a [...]
Fintech firm CAB Payments plots London listing in boost to the City June 8, 2023 A fintech firm has revealed plans to float on the London Stock Exchange today and hailed the capital as a “home for innovative and growing global businesses”, in a boost for the Square Mile after a bruising few months. CAB Payments, a specialist cross-border payments and foreign exchange firm, announced plans to float on the [...]