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.
FCA to swoop on City’s asset managers over misleading ESG investment August 10, 2022 The UK’s City watchdog is poised to swoop on asset managers if they promote “misleading” sustainable investments, as it prepares to ramp up its scrutiny of the ‘environmental, social and governance’ (ESG) label.
Coinbase sheds £0.9bn in second quarter as revenues plunge amid crypto crash August 10, 2022 Crypto giant Coinbase lost $1.1bn ($0.9bn) in the second quarter of the year as revenue dropped declined during the crypto crash. $446mn (£365m) of this loss was due to an impairment charge on the exchange’s crypto and venture investments as the “crypto winter” led to plummeting cryptocurrency prices and caused widespread losses across the industry. [...]
Heavy losses could spur move to private for SoftBank, analysts say August 9, 2022 Hefty losses in the portfolio of Japanese investment giant SoftBank could push its chief Masayoshi Son to delist the firm via a management buyout, analysts have suggested.
Former CMA chair sues crypto exchanges Binance, Kraken and others for £10bn August 9, 2022 Crypto exchanges Binance, Kraken, and others have been hit with a £10bn lawsuit in a competition dispute by the former chair of the UK’s Competition and Markets Authority. Lord David Currie filed the claim against the two crypto giants as well as exchanges Bittylicious and ShapeShift for delisting the BSV cryptocurrency from their platforms, Financial [...]
Taxpayer-backed Pollen on the verge of collapse August 9, 2022 An events start-up backed by the British Business Bank's Future Fund is on the verge of collapse just months after it bagged a $150m funding injection, according to reports today.
Carlyle chief’s sudden exit is ’empire striking back’, say analysts August 9, 2022 The abrupt departure of Carlyle group chief Kewsong Lee may be a case of the “empire striking back”, analysts have suggested, as co-founder Bill Conway steps back in as interim chief executive.
Abrdn shares plunge after market turmoil sparks £320m loss August 9, 2022 Shares in Abrdn plunged today after the asset manager reported a £320m loss and a sharp slide in assets under administration in the first six months of the year, after a turbulent period on markets.
Investors reach for the bottle as inflation soars August 9, 2022 Nervous investors are turning to wine as a steady store of value as inflation climbs.
‘Iron out’ differences on global climate rules, say ECB and IMF August 8, 2022 Global guidelines on corporate climate reporting must fall in line with those in Europe and the US or investors could be hit by fragmented and inconsistent information, the European Central Bank and IMF have warned.