Starling boss Boden marks quadrupling of bank’s profits with barbs at fintech peers January 6, 2023 Digital bank Starling said it expects to more than quadruple its profits to £120m and ramp up a hiring spree this year as it becomes the latest lender to be buoyed by rising interest rates and a surge in borrowing.
London Metal Exchange chair quits in wake of nickel trading fiasco January 5, 2023 The chair of the London Metal Exchange announced she would quit her role today after a turbulent tenure mired by a nickel trading scandal that saw the bourse shuttered and billions of dollars of trades cancelled.
HSBC and L&G demand “higher transparency” from Glencore on coal use January 5, 2023 Legal and General and HSBC are among a group of top investors to round on mining giant Glencore this morning, demanding explanation of how its coal production aligns with United Nations climate targets.
Apple share prices plunge, taking valuation below $2tn January 4, 2023 Apple’s shares plummeted in value by three percent yesterday, meaning the the tech giant’s valuation tanked $2tn (£1.66 trillion) for the first time since May 2022. The company’s share value dropped to a price of $130.20 per share yesterday, marking a year-low, and giving the company a valuation of $1.99 trillion (£1.65 trillion) at market [...]
Crypto horse bolted well before US regulators’ warning shot, analysts say January 4, 2023 Crypto analysts warned that US regulators may be trying to “shut the stable door after the horse has bolted” today after the US central bank and financial watchdogs sounded the alarm over the risks that cryptocurrencies could pose to mainstream lenders. The Federal Reserve, alongside the Federal Deposit Insurance Corporation and the Office of the [...]
BT: Telecoms giant enters the drone market in £5m deal January 4, 2023 BT, Britain’s telecoms giant has entered the automated drone business. Earlier today, Etc., the incubation team in BT Group’s Digital unit announced that it was entering a £5m deal with Altitude Angel. Altitude Angel is a Reading based technology provider and the deal is supposed to scale up UK’s automated flying infrastructure. The two businesses [...]
City of London dealmaking set to rebound as ‘dry powder’ fuels wave of takeovers, bankers say January 4, 2023 Dealmaking is set to rebound in the latter stages of this year as stored up “dry powder” and steadier markets fuel a wave of take-private deals, bankers have predicted.
Confirmed: Home REIT investment adviser distances itself from troubled firm ahead of US listing January 4, 2023 Home REIT’s investment adviser, Alvarium, has sold off the division responsible for managing the property firm’s portfolio in a move that distances itself from the troubled housing provider ahead of a US public listing today. Home REIT, which invests in social housing for people without a fixed address, has been targeted by short sellers over [...]
FTSE 100 shakes off January blues to pop on first trading day of 2023 January 3, 2023 The FTSE-100 shrugged off fears of industrial unrest and a slowdown across Asian markets this morning as it jumped beyond 1.5 per cent at market open.
Venture’s gender gap: Top tech investors still don’t trust female founders, researchers find January 3, 2023 Tech investors still do not trust female entrepreneurs due to the prevalence of male founders and the popular perception that top tech tycoons are all young white men, researchers have found. In a new peer reviewed study, researchers at Vienna University of Economics and Business found that investors backing tech start-ups seek out certainty in [...]