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.
Start-ups hit the brakes on hiring as costs soar August 11, 2022 Cash-strapped start-ups are slowing recruitment and ripping out unnecessary costs this year as rising costs batter the bottom line, top investors said today.
New PM must push through City reform for finance to flourish, lobby groups say August 10, 2022 The new prime minister must push through a swathe of reforms to the City if the UK is to regain its place as the “world’s foremost international centre of finance”, a top lobby group warned today.
MPs set to scrutinise government crypto hub plans in fresh inquiry August 4, 2022 MPs are set to scrutinise the Treasury’s plans to make the UK the “global home of crypto” in a fresh inquiry into the wider crypto and digital assets sector, launched today.
Startups restraining breakneck growth plans in hunt for funding, says VC chief July 28, 2022 UK startups are paring back growth-at-all-costs business plans and mapping out firmer routes to profitability as recessionary fears cause investors to pull back from higher risk bets, a top venture capital chief said today.
British Business Bank pumps £30m into early-stage venture fund amid investment slowdown July 27, 2022 The state-backed British Business Bank revealed it had pumped £30m into a new early-stage venture fund today as it looks to fill a funding gap for small firms amid a major investment slowdown this year.
Exclusive: Second Home dodges bankruptcy and eyes US expansion with fresh funding July 26, 2022 Shared office space firm Second Home has scooped a £7.5m funding package to dodge bankruptcy and is now eyeing up expansion in the US, City A.M. can reveal.
Monzo ‘repeatedly failed customers’ by not sharing data, competition watchdog says July 26, 2022 The competition watchdog has accused Monzo of “repeatedly” failing its customers today after it found the digital lender had failed to share transaction data with people closing down their accounts.