Norway’s sovereign wealth fund says it must prepare for ‘large fluctuations’ in its value October 8, 2019 Norway’s $1.1 trillion (£8.99bn) sovereign wealth fund must be prepared for “large fluctuations” in the value of its portfolio, its managers said. The world’s largest sovereign wealth fund will also consider investing in companies before they go public, said Norges Bank Investment Management (NBIM) in a report outlining the fund’s strategy for the next three [...]
Tide secures £44.1m in ‘one of the largest ever’ fintech series B funding rounds October 7, 2019 Fintech company Tide has raised £44.1m in its first round of Series B equity funding in a bid to increase its business banking market share. Read more: Scottish fintech paysend closes £8.5m series B round Tide announced it had secured the funding yesterday in what it is calling “one of the largest ever” series B funding [...]
Kaspi.kz IPO: Kazakh fintech postpones London float October 7, 2019 The London float of Kazakh fintech group Kaspi.kz has been postponed due to “unfavourable market conditions” in the technology sector. Read more: Fund veteran Martin Gilbert leaves Standard Life Aberdeen to join Revolut The initial public offering (IPO) was set to be the largest by a Central Asian company on the London Stock Exchange (LSE) [...]
Billionaire Michael Spencer buys stake in The Tote October 7, 2019 Billionaire Michael Spencer is set to buy a substantial minority stake in the soon-to-be parent company of The Tote bookmaker. The financial services entrepreneur will buy a 10 per cent stake in the recently formed Alizeti consortium, which is poised to buy The Tote from betting giant Betfred. Read more: City bigwig Michael Spencer blasts [...]
How to avoid friction when working in a small team October 7, 2019 Small businesses are often accompanied by an intense working environment, where space is at a premium and the day-to-day proximity between colleagues can inevitably cause friction. As a business owner, I’ve found that big issues often arise from seemingly little problems. But don’t write off small businesses just yet. With a little ingenuity, flexibility, and [...]
Meet the company helping to build trust in influencer marketing October 7, 2019 It’s not hard to find critics of influencer marketing. This is an industry that is not short of scandals. There have been instances of social media stars failing to label marketing content as ads, promoting things that turn out to be fraudulent – see the Fyre Festival debacle – or even creating fake content. In [...]
How we proved to the world that a woman’s place is in a FTSE 350 boardroom October 7, 2019 With Brexit dominating the news, you may have missed an even-longer-in-the-making development last week: women now make up 30 per cent of the boards of the average FTSE 350 company – a “first” after 450 years of listings on the London Stock Exchange. It took 350 years to reach 10 per cent women on UK [...]
The City Corporation is leading the charge for a greener, cleaner, plastic-free capital October 7, 2019 Brexit has been top of the agenda for many City firms in recent years, but one issue that could disrupt business models even more significantly in coming decades is climate change. In the words of Bank of England governor Mark Carney, the transition to a carbon-neutral economy poses an existential challenge – and it is [...]
Whitehall pressed on pension superfunds regulation October 7, 2019 The government is facing fresh doubts over legal protections for defined benefit pension schemes, as so-called superfunds angle to swallow them up. In a recent letter, pensions minister Guy Opperman was unable to say for sure that rules for pension superfunds would be in an upcoming pensions bill. The letter came in response to the [...]
Nutmeg widens losses as wealth manager targets new customers October 6, 2019 Nutmeg, the online wealth management firm, widened its losses by more than £6m last year as it invested in attracting new customers. Operating losses deepened from £12.3m to £18.6m despite an increase in turnover from £4.6m to £7.2m, as expenses expanded to £22.7m from £17m the previous year. Read more: Digital wealth manager Nutmeg targets [...]
