UK’s newest bank Griffin secures £11m in funding round as it plots expansion June 7, 2023 Griffin, the UK’s newest bank, has gathered £11m in a fundraising round just a few months after it secured its banking licence. The funding round was led by venture capital firm Mass Mutual Ventures, with existing investors Seedcamp and EQT Ventures participating in the fundraise. Griffin said the funds will go towards leaving the ‘mobilisation’ [...]
UK and European firms top gloomy profit predictions to start the year – but a crunch could be coming June 6, 2023 UK and European firms shrugged off recession fears and posted fatter profit margins than investors feared in the first three months of the year, analysts at investment giant Blackrock said today.
Sequoia Capital to carve off China and India units as it faces ‘increasingly complex’ pressures June 6, 2023 Venture capital behemoth Sequoia Capital has revealed plans to carve up its business into three distinct firms due to the “increasingly complex” pressures on its operations across the US, China and India.
Soaring inflation and recession fears trigger UK dealmaking slowdown June 6, 2023 Mergers and acquisitions in the UK tumbled sharply in the first three months of the year as recession fears and rapid rate hikes spooked dealmakers, official figures have revealed today.
Why the FCA and City lawyers could be poised for a Square Mile showdown June 6, 2023 Lawyers have warned of a looming clash between City regulators and legal professions after the watchdog’s new enforcement chief fired barbs at the sector’s conduct while defending financial firms.
Exclusive: Zopa poised for senior hiring spree to bolster top team ahead of IPO June 6, 2023 Fintech lender Zopa has appointed a former Deutsche Bank executive to its board in the first of a series of senior appointments designed to bolster its top team ahead of an IPO, City A.M. can reveal.
FCA hits broker ED&F Man Capital Markets with record £17.2m fine over cum-ex trading June 5, 2023 The Financial Conduct Authority has hit City broker ED&F Man Capital Markets with a record £17.2m fine for “serious failings” in its oversight of a murky cum-ex trading strategy. In a statement today, the watchdog said the failings from ED&F Man allowed it to collect millions of pounds of fees for the trading strategy as [...]
Aviva joins dormant asset scheme as programme expands to insurance and pension funds June 5, 2023 Insurance giant Aviva joined the dormant asset scheme today as the programme opened up to pensions and insurance firms. Aviva will join over 40 banks and building societies that currently participate in the scheme. Kirsty Cooper, group general counsel and company secretary, said Aviva had been working with the Reclaim Fund and dormant asset scheme [...]
MPs call for dedicated ‘crypto tsar’ as parliamentary schism emerges June 5, 2023 A group of crypto-friendly MPs have called for the appointment of a dedicated “crypto tsar” to oversee plans to turn the UK into a digital asset hub today, as stark divisions emerge in parliament over the future direction and role of the country’s crypto industry. In a new report, the All Party Parliamentary Group on [...]
London based IQ Capital raises $400m to fuel ‘deep tech’ AI and robotics startups June 5, 2023 London-based venture investor IQ Capital has bagged $400m across two funds today as it looks to ramp up its investment in ‘deep tech’ start-ups across areas including artificial intelligence (AI) and robotics.