Softbank profit plunges 99 per cent on heavy Vision Fund losses February 12, 2020 Softbank’s quarterly profit has been almost entirely wiped out after heavy losses from its Vision Fund hit the technology investor for the second consecutive quarter. The Japanese conglomerate’s operating profit from October to December plummeted 99 per cent to just ¥2.59bn (£18.2m) after its Vision Fund and a related vehicle recorded a $2bn loss. Softbank [...]
Put your money where your morals are: ethical ideas for ESG investing February 12, 2020 Whether or not you agree with activists like Greta Thunberg or campaign groups like Extinction Rebellion, there’s been a clear societal shift in recent years to recognise the need to tackle problems like climate change or global poverty. One aspect of that shift is the increasing trend for savers to consider the environmental, social, and governance [...]
ESG investing: The only way is ethics February 12, 2020 “Climate change has become a defining factor in companies’ long-term prospects,” wrote Larry Fink, chief executive of Blackrock, in his annual letter to global company bosses last month. “I believe we are on the edge of a fundamental reshaping of finance.” It was a big moment. Sustainability has been a growing economic issue for more [...]
Mixed year for Crowdcube as Brexit uncertainty bites crowdfunding appetite February 12, 2020 The UK’s largest crowdfunding platform struggled to achieve its targets under the weight of political uncertainty in 2019, but still managed to report a significant jump in revenue. Sales at Crowdcube rose 36 per cent last year, as a record number of businesses opted to use its services to raise funding from customers and investors [...]
German digital bank N26 quits UK ‘due to Brexit’ February 11, 2020 German digital bank N26 has announced it is pulling out of the UK, saying it will no longer be able to operate in Britain with its European banking licence. The Monzo and Revolut rival, which is valued at $3.5bn after raising $670m in total, said all UK accounts will be shut down by 15 April [...]
UK active fund inflows nosedive on coronavirus fears February 11, 2020 Sales of active equity funds in the UK plunged over 90 per cent in January after the coronavirus outbreak led to a collapse in investor confidence. Inflows into actively-managed equity funds totalled just £78m in January, a drop of 93 per cent compared to the previous month, according to figures from fund network Calastone. “Stock [...]
There are more funds run by Daves than by women February 11, 2020 | City Talk The investment industry has a gender representation problem, and more needs to be done, says Holly Black There are more funds in the UK run by men named David than there are female fund managers in total. Of 1,496 UK-listed open-ended funds, 108 are run by managers named David or Dave – equivalent to 7.2% [...]
Businesses must take a hard look in the mirror to understand their corporate purpose February 11, 2020 Fifty years ago, Nobel-winning economist Milton Friedman published an article in which he analysed the relationship between business and corporate social responsibility. The commentary was driven by the principle that the sole responsibility of business was “to use its resources and engage in activities designed to increase its profits so long as it stays within [...]
Don’t dismiss the apprenticeship levy — it could fix the UK’s productivity puzzle February 11, 2020 The UK economy is not what it was 50 or even 20 year ago. We are an economy driven by services, data, and technology. As such, we need skilled managers to run the teams and operations that keep UK businesses at the forefront of innovation and change. The apprenticeship levy is a brilliant tool for [...]
Revolut launches open banking for retail and business customers February 11, 2020 Digital bank Revolut today announced the launch of open banking for all UK retail and business customers as it ramps up its challenge against money management rivals. The new feature allows UK customers to connect their external bank accounts to Revolut’s platform, allowing them to view all their balances in one app. Open banking was [...]
