L&G tops expectations with £940m profit as it reveals scale of accounting tweak hit August 15, 2023 Legal & General beat market expectations this morning as it posted profits of £941 for the first six months of the year, as Nigel Wilson prepares to step away
How ‘tourist’ venture capital investors scarpered and popped the valuation bubble August 15, 2023 A flood of so-called ‘tourist’ cash flowing into the venture capital industry has dried up over the past 12 months and helped trigger a plunge in the valuation of UK and European startups, new research has shown.
Home REIT facing fresh calls for overhaul over huge exposure to Wolverhampton charity group August 15, 2023 Scandal-stricken Home REIT is facing fresh calls for overhaul today after two tenants run by the same director collapsed into administration this year – with the future of a third still uncertain. Home REIT revealed earlier this month that Redemption CIC, a Wolverhampton-based social housing group that made up around nine per cent of its [...]
Mastercard snaps up stake in $5.2bn fintech arm of South African telecoms giant August 14, 2023 Mastercard has snapped up a minority stake in the fintech arm of South African telecommunications giant MTN in a deal that values the division at more than $5bn, the telecoms firm announced today. MTN, Africa’s biggest mobile company which has operations across the continent, said in its half year results that the deal would be [...]
Plus500 unveils $120m payout in bid to turn around share price slump August 14, 2023 Fintech trading firm Plus500 has unveiled a fresh $120m payout for investors this morning despite reporting a slump in profits compared to last year amid “quieter market conditions”.
Who let the dogs out? St James’s Place tops list of poor performing ‘dog fund’ managers August 13, 2023 It seems the Baha Men’s 23-year-search for a canine-freeing culprit may finally be over. Who let the dogs out? It was money manager St James’s Place. The London-listed firm, which manages some £157.5bn for investors, currently manages £29.3bn in laggard funds and has seen four of its vehicles labelled as the biggest ‘dogs’ in the [...]
Aviva, L&G and Admiral to report next week as long-time insurance boss Sir Nigel Wilson eyes exit August 11, 2023 Investors will need to figure out the impact of new accounting rules next week as three of the country’s biggest insurers report their financial results. It will also be the final set of half-year results for Legal & General boss Sir Nigel Wilson, who is set to depart later in 2023. “Sir Nigel steps down [...]
Abrdn share price tumbles 10 per cent as £4.4bn pulled by clients so far this year August 8, 2023 The share price of FTSE 100 firm abrdn slumped after the fund manager reported a major fall in assets under management and administration (AuMA) in the first half of the year. AuMA dropped to £495.7bn, down from £500bn at the beginning of this year as it reported net outflows of £4.4bn in the first six [...]
Quilter share price rockets after seeing adjusted profit and AuMA rise August 8, 2023 Quilter delivered an increase in assets under management in the first half of the year, helping the money manager record a rise in adjusted pretax profit.
Liontrust gets green light from FCA for GAM takeover as battle with shareholders heats up August 8, 2023 Liontrust has secured the approval of the City watchdog for its proposed takeover of the ailing Swiss fund manager GAM Holdings. Liontrust described the approval as a “major step forward” in the team as it enables the fund manager to take control of GAM’s UK regulated entities. The green light from the Financial Conduct Authority [...]