International Personal Finance boosted by branding itself as Provident Financial in Poland October 24, 2017 British-based overseas doorstep lender International Personal Finance today received a boost from selling its services under the Provident Financial banner. The Leeds-based firm said it had increased its lending to customers by five per cent in the third quarter. Listed in London, International Personal Finance operates across seven east European countries and Mexico. Polish operations, [...]
Investec and Banco Sabadell are backing hot UK fintech startup Bud with £1.5m October 24, 2017 Investec and Banco Sabadell, the owner of TSB, are backing a UK fintech startup which is creating platforms to help people manage their finances. Bud has raised £1.5m from investors, led by the FTSE 250 asset manager and InnoCells, the Spanish Bank’s digital venture arm. Also participating in the early stage round is Force Over [...]
Cornerstone backer Calculus Capital is raising £10m for its venture capital trust (VCT) as investor interest booms October 24, 2017 Calculus Capital, the investment firm which backs shaving subscription business Cornerstone, has launched a £10m fundraising for its venture capital trust (VCT). The VCT, which launched in 2010, aims to deliver an annual dividend of 4.5 per cent – or 6.1 per cent for investors who receive the 30 per cent income tax relief after [...]
New forecasts show need for Heathrow expansion ‘greater than originally thought’ with London’s main airports to be full in a decade October 24, 2017 The government said today the need to expand Heathrow is “greater than originally thought” and its timeline remains on track, despite the launch of a new consultation. Transport secretary Chris Grayling said updated aviation demand forecasts reveal that the need for more runway capacity is “even greater than originally thought”. He said: They show that [...]
Hammond shuts down Javid’s plan to borrow billions at record low rates October 24, 2017 Philip Hammond has slapped down communities secretary Sajid Javid’s proposal to borrow billions of pounds at current interest rates to build homes. Speaking at the weekend, Javid made the case to “sensibly borrow more… take advantage of some of the record low interest rates” for housing, as well as other infrastructure needs such as the [...]
Michael Bloomberg says London will keep rising as a global capital at opening of new European HQ in the City October 24, 2017 Bloomberg founder and chief executive Michael Bloomberg said today that London would continue its rise as a global capital, regardless of how the UK’s relationship with the EU changes. The billionaire businessman and former New York mayor was speaking as he opened Bloomberg’s new European headquarters in the Square Mile. Read more: Twitter and Bloomberg [...]
Graze backer Draper Esprit boosts its portfolio value by 44 per cent October 24, 2017 Listed venture capital firm Draper Esprit, which has backed businesses such as snack producer Graze and fashion marketplace Lyst, announced in interim results this morning that its portfolio value had rocketed. The numbers Draper Esprit’s gross primary portfolio value – or the value of all its investment holdings, before deductions – was up 44 per [...]
The Equifax hack is being investigated by the Financial Conduct Authority October 24, 2017 The City watchdog has launched an official investigation into the massive hack of Equifax which exposed millions of people’s personal data. “The [Financial Conduct Authority] FCA announces today that it is investigating the circumstances surrounding a cybersecurity incident that led to the loss of UK customer data held by Equifax Ltd on the servers of [...]
Read: UK MPs letter demands info on Russia election and Brexit meddling from Facebook’s Mark Zuckerberg October 24, 2017 MPs have demanded answers from Facebook chief executive Mark Zuckerberg on the extent of Russian-linked adverts on the social media site during UK elections and the Brexit vote and their influence. The chair of the digital, culture, media and sport committee Damian Collins has asked the billionaire tech entrepreneur to provide examples of adverts purchased [...]
This property investment trust’s shares are up 28 per cent as it prepares to upgrade to a premium London listing October 24, 2017 Aim-listed K&C Real Estate Investment Trust (REIT) saw its shares shoot up by 28 per cent this morning, as it announced it would raise a new £150m and prepare for a listing on the premium section of the London Stock Exchange. The REIT, which invests in UK residential property, will raise the money by issuing [...]