DWS rejects greenwashing allegations after probes launched in US and Germany August 27, 2021 German asset manager DWS has rebuffed claims that it misled clients by overstating its sustainable investing activities, after the news of probes by US and German regulators into the allegations sent shares plummeting. Shares in the €859bn group plunged by as much as 14.2 per cent yesterday, after reports emerged that the German regulator BaFin [...]
Barclays targets $3.8bn Gap-branded US credit card portfolio August 27, 2021 Barclays’ US division will buy a $3.8bn credit card portfolio in a co-branding deal with retailer Gap, in a bid to up its market share in the US. Four months after initially reaching an agreement with the clothing giant to partner and create co-branded credit cards for Gap customers, the bank has announced it will [...]
Scottish independence: UK minister says Scots could have a second referendum if backed by 60 per cent August 27, 2021 Scots could have a second independence referendum if polling consistently shows support for one at 60 per cent, according to the UK’s Scotland secretary. In the first time a minister has hinted at what the bar could be for a fresh vote, Alister Jack told Politico: “If you consistently saw 60 percent of the population [...]
Brits abroad: M&S to sell Percy Pigs and other classic products to over 150 countries August 18, 2021 M&S has teamed up with export platform British Corner Shop to sell 800 of its classic food products, including Percy Pig sweets and Luxury Gold Teabags, in an effort to recover its struggling business through online sales. It comes after the British retailer reported a significant annual loss in May, as pandemic store closures weighed [...]
PayPal ditches late fees for buy now pay later purchases August 18, 2021 PayPal will stop charging late fees when customers miss payments on buy now, pay later (BNPL) purchases worldwide, in an effort to attract customers amid booming market competition. As of October 1, purchases from customers in the US, UK and France will no longer be subject to late fees, while the company’s BNPL services in [...]
SoftBank ramps up exits to fund prolific Vision Fund dealmaking August 18, 2021 The Japanese investment giant sold around $14bn worth of listed stocks last quarter, marking a change in its exit-hesitant strategy in order to fund its Vision Fund’s accelerating investments in tech startups. SoftBank sold an estimated $14bn worth of listed stocks in the last quarter – almost triple that of the previous period, according to [...]
Space SPAC: Seraphim-backed satellite firm Spire makes New York debut August 18, 2021 Space investor Seraphim has announced its portfolio company Spire, which provides satellites for space, has debuted on the New York Stock Exchange after becoming the latest space company to close a merger via SPAC. Spire has merged with special acquisition company NavSight Holdings, which valued the satellite firm at $1.6bn in equity. The new combined [...]
AJ Bell boosts management and appoints fourth woman to board August 18, 2021 Investment giant AJ Bell has shaken up its management to reflect its growth plans, adding two new leadership roles and the fourth woman to a board that has previously received criticism for its lack of progress on gender diversity. The investment platform, whose total assets under administration swelled to £70.4bn in the second quarter, today announced [...]
Six children and one parent injured after Tesla collides with pedestrians in British public school car park August 17, 2021 Six school children and a parent have been taken to hospital after they were hit by a Tesla car in the school car park of Ardingly College in West Sussex. One of the children was reportedly flown to hospital with serious injuries after the incident involving a blue Tesla Inc Model 3 car, during a [...]
Just Eat posts revenue surge of 52 per cent but struggles to turn a profit in fight for market share August 17, 2021 Strong demand for food delivery amid the last of the Covid restrictions persisted in the first half of the year and boosted Just Eat Takeaway’s revenue, but efforts to increase its share of the crowded market impacted profitability. Revenue in the first six months of the year grew to €2.6 bn (£2.2bn) – a 52 [...]