Baillie Gifford US Growth Trust narrowly defeats Saba’s third oust attempt Investing Baillie Gifford US Growth Trust has survived the third attempt by activist hedge fund Saba Capital to oust its board. Shareholders quashed the efforts of the Boaz Weinstein-run fund to take control of the £1.1bn investment trust by a narrow margin, with 52.8 per cent voting against Saba’s resolution to appoint three of its nominees [...]
FTSE 100 Live: Stocks slide as oil surges to five-month high FTSE 100 Live Welcome back to the City AM FTSE 100 liveblog. It’s Friday morning and London’s blue-chip index is set for a flat open as pressures on markets persist. The price of a barrel of oil has surged to $114 per barrel, trading at its highest level in over five months. It follows escalating Houthi attacks on [...]
Rathbones funds rise as its wealth management arm returns to inflows Investing Rathbones posted a rise in funds under management and administration as its wealth management arm returned to net inflows. Funds under management and adminsitration increased 7.2 per cent year on year to £121.1bn. Its wealth management arm achieved net inflows, increasing to £24m after reporting losses of £300m the previous year. Further growth was restricted [...]
AJ Bell hits record assets under administration as customer numbers surge October 22, 2026 AJ Bell has reported record assets under administration after attracting a wave of new customers across its divisions. The London-listed investment platform said its assets under administration (AUA) rose 22 per cent year-on-year to £126bn in an end of year trading update. The group’s assets under management (AUM) also reached a record £12.1bn, up from [...]
FCA drops probe into scandal-hit Home REIT October 21, 2026 The City watchdog has dropped its investigation into Home REIT, two years after opening a probe into the stricken property firm. The Financial Conduct Authority (FCA) has said it intends to take no further action against the firm, according to a statement released by Home REIT on Wednesday. An investigation into the former London-listed social [...]
MPs voice fury after Labour rejects over a dozen proposals to boost UK investment October 21, 2026 MPs have voiced their frustration after the government flat out rejected more than a dozen proposals to boost lacklustre investment levels in the UK. Members of the House of Commons Business, Innovation, Science and Trade Committee issued a list of recommendations to make the UK a more attractive destination for investment, including rejuvenating the London [...]
Cautious trustees ‘tie the hands’ of pension schemes and hold back growth investment, industry boss says October 21, 2026 Workplace pension trustees fixating on low-cost fees “tie the hands of schemes” and make it difficult for them to invest in high-growth companies, the pension trade body has said, after the government’s push to get pension money flowing into equities showed minimal progress. Zoe Alexander, chief policy officer at trade body Pensions UK, said the [...]
Starling founder Anne Boden offloads stake at slashed £1.7bn valuation October 20, 2026 Starling founder has offloaded her remaining stake in the UK fintech at a valuation far below the price the firm was targeting in its latest secondary share sale. Anne Boden has sold her remaining 2.7 per cent stake in Starling as she begins work on a new AI project. She sold the stake at a [...]
Higher taxes will ‘kick UK fintech when it is down’, Healey warned October 19, 2026 Venture capital investors have warned that higher taxes on financial services would have trickle-down effects and “clip the wings” of Britain’s already capital-starved fintech sector. Start-up investors that fund the UK’s financial technology industry told City AM the sector’s struggles to access cash would be amplified by a tax hike on top banks and increases [...]
London Stock Exchange Group fails to shake off £131m fraud lawsuit October 19, 2026 LSEG will face a $175m (£131m) fraud and breach of contract lawsuit brought by the former chief executive of a company it acquired, after a US judge denied the London stock exchange-owner’s attempt to dismiss the case. LSEG’s subsidiary Refinitiv, which it bought from Thomson Reuters in 2020, acquired US analytics firm Maystreet in 2022 [...]