London-based Blossom Capital launches $185m Europe-focused fund January 22, 2020 London-based venture capital firm Blossom has launched a second $185m (£142m) fund to invest in European tech startups, less than a year after its first raise. The new fund, which Blossom Capital said was “heavily oversubscribed”, will invest in European tech startups at an early stage, and takes the total raised by the company to [...]
Empty pockets: Why shops going cashless is good for business — and consumers January 22, 2020 In the market stalls, pop-up shops, and beer taprooms of our great city, card payment is increasingly common. And it’s not just a London trend — while card-only shops are primarily cropping up in the capital, they have appeared up and down the country too. This is a phenomenon dominated by small businesses, and it’s [...]
Watchdog warns financial advisers on causing ‘significant harm’ to clients January 21, 2020 Financial advisers were ticked off by the Financial Conduct Authority (FCA) today for causing harm to consumers. In a letter to chief executives, the FCA noted a growing number of cases where firms’ actions resulted in “significant harm to consumers’ financial well-being”. It picked out four ways in which clients could be harmed: receiving unsuitable [...]
What motivates women to invest? Our survey results are in January 21, 2020 | City Talk What motivates women to invest? This was the question at the heart of a survey of more than 200 women across 24 countries undertaken to explore what shapes women’s attitudes to personal investment. I have been researching women and finance for a decade, and set out to bust several myths: that women didn’t invest because [...]
Billionaire Icap founder Michael Spencer backs £100m fintech fund January 20, 2020 Michael Spencer, City grandee and founder of interdealer broker Icap, has become the cornerstone investor of a new UK fintech fund that is aiming to raise up to £100m. Spencer will contribute at least £25m to the new fund, Element Ventures, via his investment vehicle IPGL. The fintech fund will focus on emerging firms that [...]
AFH financial reports strong earnings growth January 20, 2020 AFH Financial has reported strong growth in revenue and funds under management (FUM) following after the financial adviser consolidator completed a string of acquisitions. Revenue at the AIM-listed firm jumped to £74.3m for the year ending 31 October, fuelling an 82 per cent jump in profit after tax, which hit £10.8m. Read More: Ashmore assets [...]
UK bond chief expresses doubts over green gilts January 20, 2020 The head of the UK’s debt management office (DMO) has questioned the case for issuing “green” government bonds, calling it a “symbolic” step unless investors were willing to pay more for the gilts. Sir Robert Stheeman told the Financial Times the issuing of “green gilts” — government debt where proceeds are spent on environmentally-sustainable projects [...]
What does 2020 hold in store for the pound? January 20, 2020 | City Talk Brexit cast a long shadow over the pound in 2019. Additional factors that influenced the value of sterling – caution from the Bank of England, faltering economic results – were all seen through the lens of Brexit. Now that parliament has backed the Brexit bill, the focus may move slightly from the challenges of uncertainty [...]
Five of the best fee-free football transfers January 20, 2020 | City Talk Football clubs across the Premier League, Europe and further afield are always eyeing up their next potential stars. To kick off the winter transfer season, here’s our selection of the top fee-free football transfers. After all, the best things in life are free, as the saying goes. Remember, you can enjoy fee-free international payments whether [...]
The cost of an international office January 20, 2020 | City Talk From expanding sales to mitigating Brexit risk, many companies are securing presence overseas. Some companies have already set up an office in the EU to avoid trade barriers in the future, others are considering a move or a satellite office in the EU or further afield to take advantage of new opportunities in emerging geographic [...]
