Klarna set for US IPO in snub to London markets March 6, 2025 Swedish fintech Klarna is looking to raise a minimum of $1bn (£777m) in a US initial public offering (IPO), sources told Bloomberg. Klarna’s US filing, which could come as soon as next week, will see the firm target a valuation of more than $15bn in the New York Stock Exchange, according to people familiar with [...]
City favourite Pitch Golf opens Canary Wharf flagship March 6, 2025 City golf favourite Pitch has expended its footprint in the capital with a flagship Pitch Wharf venue near the Isle of Dogs. The waterside Canary Wharf venue was launched last month with a vibrant party across its two-floor space, which is within touching distance of the London underground and the famed financial hub. Pitch Wharf [...]
Just Eat takes off with new drone delivery partnership March 6, 2025 Just Eat Takeaway has launched its first drone-operated food deliveries, marking the start of a major rollout in partnership with Manna Drone Delivery. The first location of the rollout will be in Dublin. Customers ordering from participating restaurants will now be able to opt for drone delivery and receive their meals in as little as [...]
Union boss who ‘supported pro-Putin separatist’ replaces Mick Lynch as RMT general secretary March 6, 2025 The Rail, Maritime and Transport union (RMT) has announced a replacement for its infamous former general secretary Mick Lynch. Eddie Dempsey, who served as the RMT’s senior assistant general secretary, will take the top job on Friday after being elected unopposed. Dempsey, a veteran of the railway industry and former train driver, played a key [...]
‘It’s not enough to do good work, you have to tell people’: Naomi Tarawali on making it in law March 6, 2025 Naomi Tarawali became a partner at global law firm Cleary Gottlieb aged just 33. She tells us how in this week's Square Mile and Me.
US ban looms, yet TikTok’s ad revenue soars March 6, 2025 TikTok’s advertising revenue is set to exceed $30bn this year, despite looming uncertainty over a potential US ban. WARC Media’s latest insights suggest that this could jeopardise almost $12bn in ad spend. The platform’s ad business is growing rapidly, helping to cushion the blow should a ban take effect in the US, which accounts for [...]
European bond rout worsens ahead of pivotal defence summit March 6, 2025 European bond yields continued to climb on Thursday as traders weighed expectations of higher borrowing from major European economies, which is expected to boost defence spending. German bonds suffered their worst day since the immediate aftermath of the fall of the Berlin Wall on Wednesday, after soon-to-be Chancellor Friedrich Merz laid out a bumper package [...]
OakNorth: Shareholders to be handed £40m as US expansion boosts profit March 6, 2025 Profit at challenger bank OakNorth has surged thanks to its expansion into the USA, it has been revealed. The London-headquartered digital bank has reported a pre-tax profit of £214.8m for 2024, up from the £187.3m it posted for the previous 12 months. Over the year, OakNorth provided more than £2.1bn in gross new lending to [...]
BP CEO takes huge pay cut as profit slashed at FTSE 100 giant March 6, 2025 The chief executive of BP has taken a £2.3m pay cut as profit was slashed at the FTSE 100 giant. Murray Auchincloss received a pay packet of £5.4m for 2024, down from the £7.7m he received in 2023. The drop came amid a more than £1.1m cut to his bonus to £734,000, and a £1.6m [...]
The Capitalist: Beavers, disgruntled Tesla owners and PR confessions March 6, 2025 Beaver fever, PR confessions and Tesla owners get creative. Catch up on the latest gossip in this week's The Capitalist.