Calm heads make a welcome return to ESG debate July 2, 2025 In May 2022, HSBC’s head of responsible investing, Stuart Kirk, took to the stage at a City conference and did something extraordinary; he criticised the financial services industry’s obsession with climate change. With a degree of candour that would ultimately cost him his job, Kirk said “I feel like it’s getting a little bit out [...]
City watchdog takes on advice gap to unlock growth June 30, 2025 The Financial Conduct Authority (FCA) has launched a new form of financial help dubbed ‘targeted support’ in a bid to encourage greater consumer participation in financial markets and unlock more investment-led growth. The City regulator will target consumers with common financial characteristics, such as unsustainable pension drawdown, inadequate retirement savings and excess cash not being [...]
British Business Bank set on delivering Labour’s growth ambition June 28, 2025 Arguably one of the biggest winners from Chancellor Rachel Reeves’ latest spending splurge, the British Business Bank had its lending capacity beefed up and pledged to back the UK’s innovators with its expanded range. The bank had its funding capacity increased to £25.6bn in the Spending Review from near £15.6bn as it targets eight key [...]
Trump’s renewed Fed attacks help pound climb to three-year high June 26, 2025 The pound has stormed to its highest level against the dollar in over three years after President Donald Trump launched a new tirade of attacks on the Federal Reserve. Sterling rose over 0.6 per cent to near $1.3725 as Trump indicated he was lining up successors for the Fed’s chair Jerome Powell, despite Powell’s term [...]
Cavendish shakes off M&A woes to swing to profit June 26, 2025 Cavendish swung back into profit in the latest financial year despite a sharp drop in revenue in its mergers and acquisitions division. The London-listed investment bank turned a slim £700m in pre-tax profit for the year ending March 31 but this marked a hefty shift from the £4.3m loss in 2024. The firm said its [...]
BGF: Profit almost doubles at major UK investor June 25, 2025 Profit at the Business Growth Fund (BGF) has almost doubled thanks to a series of successful exits in 2024, it has been revealed. The organisation, which is one of the UK’s most prominent equity investors, has reported a pre-tax profit of £131.1m for its latest financial year, up from the £67.9m it achieved in 2023. [...]
Cavendish shares eye year high after rejecting deals unit takeover June 24, 2025 Shares in investment bank Cavendish spiked on Tuesday as the firm confirmed it had rejected takeover interest in its deals unit after facing private equity-backed interest. Cavendish had been approached regarding a deal that would break up the London-listed investment bank by Smith and Williamson (S&W). The value of the offer remains unclear, Sky News [...]
One twist left in the PHP and KKR bidding war for Assura June 23, 2025 The Assura bidding war between KKR and PHP looked to be sealing its final chapter on Monday – but analysts warn there could be one more twist in the saga. Assura said on Monday it had recommended its board to accept a fresh cash offer from PHP, which valued the firm at £1.79bn. The deal [...]
Palestine Action: Invesco office attacked in latest red paint vandalism June 23, 2025 Global investment firm Invesco has been hit in the latest string of “red paint” attacks on financial services companies. The Atlanta-headquartered firm had its Westminster office vandalised on Monday as red paint and graffiti was left plastered across the side of the walls of the Portman Square building. The vandalism, which was committed by activists [...]
Lammy: Iran blocking Strait of Hormuz would be ‘catastrophic mistake’ June 23, 2025 Foreign secretary David Lammy has warned Iran that blocking the crucial Strait of Hormuz shipping lane would be a “mistake” after the nation vowed repercussions following the US’ attacks. Lammy told the BBC this morning: “It would be a catastrophic mistake. It would be a mistake to blockade the Strait of Hormuz.” The foreign secretary [...]