Fintech firm CAB Payments plots London listing in boost to the City June 8, 2023 A fintech firm has revealed plans to float on the London Stock Exchange today and hailed the capital as a “home for innovative and growing global businesses”, in a boost for the Square Mile after a bruising few months. CAB Payments, a specialist cross-border payments and foreign exchange firm, announced plans to float on the [...]
FTSE 100 close: Markets close lower as housebuilders weigh on index June 7, 2023 Strong morning bumps for Primark-owner Associated British Foods and BT were offset by a slump for housebuilders today as the FTSE 100 closed marginally lower. A slump in trading for housebuilders kept movement on London’s flagship index subdued, with the index closing lower. Housebuilders were down after figures from Halifax showed a first annual fall [...]
UK economy: OECD upgrades forecasts but still predicts recession knife-edge June 7, 2023 The UK economy will continue to lag behind other countries in the group of seven (G7) advanced economies this year, despite improved growth projections, new analysis has shown. Only Germany, which fell into a recession over the start of the year and is set to stagnate throughout 2023, will perform worse than the UK. Analysis [...]
House building tumbles to lowest level in three years in blow to homeownership dreams June 7, 2023 House building has tumbled to its lowest level in three years in another blow to the homeownership dreams of millions of Brits, a closely watched survey out yesterday revealed. According to S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) latest construction purchasing managers’ index (PMI), the rate of new houses being rolled [...]
Pound on course for highest level against US dollar in over a year, City analysts bet June 7, 2023 Pound sterling could end 2023 at its highest level in more than a year, strengthened by the Bank of England continuing to hike interest rates and the Federal Reserve taking its foot off the brake, analysts have told City A.M. The UK’s currency may strengthen to $1.30 toward the end of this year, driven by [...]
FTSE 100 close: London index retraces losses on softer pound June 6, 2023 London’s FTSE 100 retraced losses today, shaking off investor fears over the risk of the effects of a US recession rippling throughout the global economy. The capital’s premier index climbed 0.37 per cent to 7,628.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, jumped [...]
UK and European firms top gloomy profit predictions to start the year – but a crunch could be coming June 6, 2023 UK and European firms shrugged off recession fears and posted fatter profit margins than investors feared in the first three months of the year, analysts at investment giant Blackrock said today.
Sequoia Capital to carve off China and India units as it faces ‘increasingly complex’ pressures June 6, 2023 Venture capital behemoth Sequoia Capital has revealed plans to carve up its business into three distinct firms due to the “increasingly complex” pressures on its operations across the US, China and India.
Soaring inflation and recession fears trigger UK dealmaking slowdown June 6, 2023 Mergers and acquisitions in the UK tumbled sharply in the first three months of the year as recession fears and rapid rate hikes spooked dealmakers, official figures have revealed today.
Uncertainty but Optimism for Benelux M&A June 6, 2023 | City Talk Despite rising inflation, increasing interest rates, the ongoing war in Ukraine, and more, uncertainty remains the biggest issue for M&A dealmaking in the Benelux region in 2023. Nevertheless, the market remains resilient and there are still a lot of opportunities to be had. These were the key conclusions from panellists at a recent event in [...]