Klarna says BNPL can offer ‘better value’ for essentials amidst cost of living crunch August 23, 2022 Klarna has doubled down on the use of buy-now pay-later for essentials like groceries after debt charities and the regulator warned over the promotion of the products amidst a cost of living crunch this year.
Chrysalis portfolio slides 23 per cent as Klarna plunges in value August 22, 2022 Prolific tech investor Chrysalis Investments said the value of its portfolio had plunged 22.8 in the second quarter of the year as its stakes in firms including Klarna and Starling tumbled in value.
SoftBank shed Alibaba stake to show finances were ‘rock solid’ August 21, 2022 Japanese investment giant SoftBank shed a major chunk of its stake in Alibaba to show investors its finances were “rock solid” in the wake of a $23bn loss in the second quarter, its finance chief has said.
Adyen shares plunge as costs squeeze profit margins August 18, 2022 Shares in Dutch payments giant Adyen plunged this morning after it reported its profit margins were squeezed by a jump in travel and event costs in the first half of the year, at it notched a 37 per cent surge in revenue.
Citco funds swing into positive as manager sentiment ticks upward August 17, 2022 Hedge fund giant Citco saw performance in its funds swing back into positive territory in July after a sustained slide for much of this year, the firm revealed today.
London venture firm looks to scoop £83m for new climate fund August 17, 2022 A new venture vehicle has launched in London today with the aim of scooping up €100m (£83m) to pump into early-stage climate tech firms.
Funding Circle founder bags £22.5m for new payments startup August 17, 2022 The payments app founded by Funding Circle entrepreneur Samir Desai has bagged a £22.5m funding injection today as it looks to strip hidden fees out of online payments.
Plus500 launches $60.2m share buyback after jump in profits August 17, 2022 FTSE 250 fintech firm Plus500 said its profits had surged to $312.6m in the first six months of the year as it unveiled a bumper buyback programme to put excess cash back in shareholders’ pockets. Bosses said pre-tax profits had jumped to $312.6m in the six months to the end of June, up from $188.7m [...]
Crypto scammers make off with $1.9bn after surge in DeFi theft August 16, 2022 Crypto hackers made off with $1.9bn in the first seven months of the year after a surge in funds stolen from decentralised finance (DeFi) protocols, according a top crypto analysis firm.
Elliott sheds SoftBank stake as investor grapples with tech rout August 16, 2022 Hedge fund Elliott Management has reportedly offloaded almost its entire stake in SoftBank this year as the Japanese investment giant grapples with a market downturn this year.