Paddy Power and Betfair owner Flutter snaps up bingo giant Tombola for £402m November 18, 2021 Paddy Power and Betfair owner Flutter Entertainment has agreed to buy UK bingo group Tombola for £402m. Tombola’s founder Phil Cronin, who set up the bingo firm 16 years ago, will leave the business after the acquisition, with himself and his family expected to net a fortune from the cash deal. Based across sites in [...]
Investec boosts guidance after profit more than doubles and sheds 15 per cent of Ninety One November 18, 2021 Investec today said its recovery continued in the first half of its new financial year, as profit more than doubled from the same period a year earlier. The FTSE 250 firm said this rebound was driven by a strong earnings recovery on increased client activity across the business and lower funding costs. As a result [...]
British Patient Capital enjoys VC bumper year and boosts startup portfolio by almost a third November 18, 2021 British Patient Capital (BPC), the venture capital subsidiary of UK government-owned British Business Bank (BBB), today announced it committed almost £300m to investing in the growth of British startups in the year to March 2021. During the pandemic-defined year, its underlying portfolio of companies increased by almost a third from 503 to 676, with three [...]
The most popular source of investment ideas for Gen Y and Z? Social media November 17, 2021 A new survey has confirmed the trends we saw during the pandemic, when retail investing became part of the zeitgeist due to a combination of social isolation, boredom, spare cash and rapidly innovating fintechs. Over half (56 per cent) of 18-34 year olds in the UK who invest attribute their strategy to ideas published on [...]
UK advertising watchdog probes crypto meme coin Floki’s marketing ‘assault’ on London transport November 17, 2021 The Advertising Standards Authority (ASA) has bowed to calls for an investigation into an ad campaign for a digital token named after Elon Musk’s new dog, Floki, after hundreds of adverts for the cryptocurrency appeared across the capital’s transport network. A spokesperson for the ASA told City AM that the watchdog is currently investigating the [...]
What does COP26 mean for climate change investors – and what next? November 17, 2021 | City Talk The outcome of COP26 came as a disappointment to some, given how critical climate issues are and the urgency of action within the coming decade. Overall, we don’t see COP26 as being particularly game-changing from an investment point of view. That said, there were positives to take from the conference too. Reasons to be positive [...]
Blue Prism shares jump as new suitor makes takeover offer November 16, 2021 A new suitor has entered the race to snap up a British software company days before investors were due to vote on a £1.1bn offer. A US tech business has swooped into contention for ownership of Blue Prism making a preliminary proposal at £12 per share which valued the company at £1.2bn and caused its [...]
Tulipshare: the revolutionary activist investment platform November 16, 2021 | Sponsored Becoming an activist investor has never been easier. Founded by Antoine Argouges, Tulipshare is an online investment platform which uses shareholder activism to create change within large corporations. Our platform allows you to invest in companies, for as little as £1. We keep you updated throughout your investment process and give regular updates on the [...]
Aviva life sales jump to £25bn, boosted by record savings and retirement inflows November 11, 2021 Aviva’s life sales have jumped to £25.3bn in its latest quarter, which has been boosted by “record” inflows in its savings and retirement division, the firm’s boss confirmed today. The insurer secured £7.3bn worth of savings and retirement funds in its third quarter, which CEO Amanda Blanc said signals “excellent” progress in its post-shakeup growth. [...]
What analysing language tells us about inflation November 10, 2021 | City Talk With the headline consumer price index (CPI) rate at a 13-year high in the US, it is not surprising that companies are talking more about inflation. It’s not just business surveys that show us this. You can also see it by looking at the transcripts of what the management teams of publicly-listed companies have talked [...]