Home REIT was warned of ‘slum conditions’ in October in row between tenants and property vendor February 17, 2023 Home REIT was warned of “slum conditions” in its property portfolio as early as October but failed to publicly acknowledge the scale of the issues until yesterday, City A.M. can reveal.
Home REIT receives takeover approach as it confirms rent collapse and ‘wrongdoing’ investigation February 16, 2023 Home REIT revealed it is the subject of a potential takeover bid this morning as it confirmed its rental collection had collapsed and swathes of its property portfolio were in need of refurbishment. In a statement, the troubled social housing investor said it had received an unsolicited approach from London-based investment firm Bluestar regarding a [...]
Up and Atom: How the Durham-based digital bank is taking on the high street stalwarts February 16, 2023 Lending, according to Atom Bank boss Mark Mullen, is back in vogue. While it’s a view that might run counter to some of the political disquiet towards Britain’s big high street lenders, for Durham-based digital lender Atom, it’s hard to argue with. The firm has tempted in hordes of customers this year and is on [...]
Hargreaves Lansdown pledges to hike dividend after profit grew by 30 per cent despite market turbulence February 15, 2023 Investment platform Hargreaves Lansdown today pledged to hike its dividend after it successfully boosted its profits in the face of widespread market turbulence. The online trading platform, which is known for its index fund offerings, said it grew its revenues by a fifth (20 per cent) over the final six months of 2022 despite the [...]
Tech investors sound alarm over five ‘urgent issues’ choking UK innovation February 15, 2023 A group of top tech investors and entrepreneurs have piled pressure on the newly appointed science and tech minister to address “urgent issues” choking off growth in the UK’s innovation sectors.
FCA spares Amigo £72.9m fine to ensure burnt customers get redress February 14, 2023 The City watchdog has publicly censured beleaguered lender Amigo for a loan mis-selling scandal this morning but spared it a £72.9m fine, saying it would prevent the firm from paying out compensation to customers.
Fintech trading platform Plus500 to put $100m back in shareholders’ pockets after bumper year February 14, 2023 Fintech trading platform Plus500 topped market expectations for the year today and announced it would put £82m ($100m) back in shareholders’ pockets after cashing in on “higher value” customers last year. In its preliminary full year results, the London-listed Israeli firm announced it would kick off a new $70m share buyback programme alongside a $30m [...]
Buy-now pay-later firms braced for clampdown as Treasury looks to grant regulator new powers February 13, 2023 The government said it will give City watchdogs the power to “clamp down” on buy-now pay-later firms this year as it prepares to publish a much-delayed update on the scope of regulation around the sector tomorrow morning. The Treasury will lay out the details of regulation that will include plans to bring firms like Klarna, [...]
Natwest: Pensions fintech bought by bank in £144m deal which will ‘shake up savings’ February 13, 2023 Natwest is to buy pensions fintech Cushon for £144m in a move the bank says will bolster its offerings of “financial wellbeing” products. The FTSE 100 lender said it would take an 85 per cent stake in the London-based fintech while the company’s existing management would retain the remaining 15 per cent. The chief of [...]
ESG: City firms feel pressure of rule changes as clampdown on greenwashing expanded by regulators February 13, 2023 City firms are feeling the pressure of impending environmental, social and governance (ESG) rules this year as regulators expand plans to clampdown on greenwashing, new research has found. Financial firms in the UK have pointed to rules on sustainability as the main pinch point facing them for a second year running, ahead of a major [...]