UK fintechs shatter records and attract $24.5bn investment in first half of the year August 10, 2021 Investment in UK fintech has reached an all-time high, as firms in the industry attracted a staggering $24.5bn in the first half of the year across the highest volume of deals on record. British fintech investment across private equity (PE), venture capital (VC) and M&A deals has exploded as the country emerges from the pandemic, [...]
Fresh UK SPAC regime comes into force today August 10, 2021 The City watchdog’s new regime overseeing special purpose acquisition companies, or SPACs, in the UK comes into force today. Under the new rules implemented by the Financial Conduct Authority, investors will be able to dispose of holdings in a SPAC before an acquisition is completed. Previously, trading in SPACs was suspended as soon as the [...]
Strategic asset allocation or how I learned to stop worrying and love dispersion August 10, 2021 | City Talk For decades, strategic asset allocation has been considered the driving force behind investment portfolio returns. But the old adage that allocation determines 90 per cent of performance is rapidly becoming outdated. During 2020 and 2021, we have seen how the world of investing is shifting from one in which declining interest rates drive beta performance [...]
Used car sales double as chip shortages deplete new model stocks August 10, 2021 The number of used cars changing hands doubled in the second quarter as stock shortages forced some people to turn to second hand models. According to the Society of Motor Manufacturers and Traders (SMMT), 2,167,504 used models were bought in the last period, up 108 per cent on 2020. The number sold was also up [...]
Derwent London snaps up Bloomsbury buildings as return to office builds August 10, 2021 Property giant Derwent London has announced the acquisition of five buildings around Bloomsbury and Marylebone as demand for new office space starts to rebound. Derwent London exchanged contracts for two properties totalling 182,100 sq ft located in the so-called knowledge quarter around University College London for £214.6m. The freehold office building at 250 Euston Road [...]
Delivery Hero to expand in Germany after Deliveroo investment August 10, 2021 Berlin-based company Delivery Hero has announced that it is to rollout its food and grocery delivery services in more German cities this autumn. The move comes after it announced buying a 5.9 per cent stake in rival delivery company Deliveroo. Delivery Hero was originally founded in Berlin a decade ago, but three years ago ceased [...]
Lockdowns will cost Australia’s economy £530m per week, say UBS economists August 10, 2021 Australia’s “zero Covid” approach will cost AU$1bn (£530m) per week to the country’s economy, as its three most populous states are currently in lockdown due to a surge in the delta variant. Economists at the UBS bank have said the cumulative economic cost of the current lockdown in New South Wales will be of AU$25bn [...]
Londoners pay highest average inheritance tax bill in UK at over £270k August 10, 2021 Londoners pay on average the highest inheritance tax bill in the UK, according to latest official government figures. Data from HMRC shows residents in the capital paid an average of £271,820 in inheritance tax on their estates in 2018/19 upon death. Meanwhile, UK residents paid an average of £209,502 in inheritance tax in the same [...]
PCR test problems: Complaints soar as drop boxes overflow August 10, 2021 Covid PCR supplier Randox is to resolve issues with its test sample drop-off boxes as photos emerge of them overflowing and long result wait times are reported. The move comes as people posted photos online of full drop boxes in Sutton and Hampstead on the weekend. The swarms of samples are expected to increase as [...]
Crackdown fears: Tencent-backed videogame maker sees shares drop 20 per cent in debut August 10, 2021 Videogame maker Krafton has watched its highly anticipated initial public offering collapse 20 per cent in its debut, as it was rocked by fears of a gaming crackdown across the pond. After securing a $3.8bn initial public offering (IPO), South Korea’s largest in over a decade, Tencent-backed Krafton became the first stock debut to fall [...]