UK leads race across Europe to introduce interbank digital currency April 19, 2021 The UK is ahead of the curve when it comes to digital currency adoption, according to new research, and could A report by PwC reveals the UK is fifth in the world when it comes to preparing for the adoption of a central digital currency although a consumer offer remains a while off yet. Like [...]
Leading investors call on banks to set tougher net zero targets April 19, 2021 A group of investors managing $11 trillion in assets is calling on banks to set radically enhanced emissions targets ahead of a key meeting aimed at tackling climate change. The group, which includes Aviva Investors and Legal & General Investment Management, said banks have a “critical role” in aligning the economy with net zero targets. [...]
HSBC scraps executive floor in Canary Wharf in favour of hot-desking April 19, 2021 HSBC has scrapped the entire executive floor at its Canary Wharf headquarters in the latest change to its post-pandemic working practices. The 42nd floor, which was previously home to executives, will be used for client meeting rooms and collaborative spaces while top managers will hot desk on the open-plan 40th floor. “Our offices were empty [...]
Starling Bank secures £50m investment from Goldman Sachs April 19, 2021 Digital lender Starling Bank has extended its latest funding round with a £50m investment from Goldman Sachs. Last month it announced a £272m Series D funding round led by Fidelity Management & Research which valued it in excess of £1.1bn pre-money. Starling Bank today said Goldman Sachs investment marked an extension of the oversubscribed round, [...]
Revolut targets $10bn valuation in upcoming funding round April 17, 2021 Revolut is eyeing a new fundraising round which would see the challenger bank’s valuation soar to more than $10bn. Last summer the neobank raised a further $80m to close out its series D funding round from private equity firm TSG, valuing the company at $5.5bn. Now Revolut has enlisted the help of US-based investment bank [...]
Moderna vaccine shipments to the UK delayed over supply chain concerns April 17, 2021 A shortfall in Moderna’s vaccine doses from its European suppliers means deliveries to Canada and the UK have been delayed. The drugmaker said it will deliver approximately 650,000 doses by the end of April, not the expected 1.2m, Canada’s procurement minister Anita Anand said. Additionally one to two million Moderna doses of the 12.3m doses [...]
Elon Musk’s SpaceX wins NASA contract to send humans to the Moon April 17, 2021 NASA has chosen Elon Musk’s SpaceX to build a lander that will send humans to the Moon in the next decade. On Friday the space agency announced Musk had fought off rival tech billionaire Jeff Bezos’ to land the $2.89bn contract. The lander is based on SpaceX’s Starship craft, which is being tested at a [...]
Morgan Stanley takes $911m hit from Archegos as quarterly profit jumps April 16, 2021 Morgan Stanley’s profits have soared despite disclosing a near $1bn loss from the collapse of Archegos last month. The collapse of the family office run by former Tiger Asia manager Bill Hwang came after it defaulted on margin calls, sparking billions of dollars in losses for Credit Suisse and Nomura. Morgan Stanley was another leading [...]
UK fintech investment off to flying start after series of mega deals April 16, 2021 After a gruelling year the UK’s fintech industry is back with a bang, attracting nearly $3bn across more than 100 deals in the first quarter alone. The fintech sector raised a total of $2.9bn in the first three months of the year across 117 deals, with investment levels 153 per cent higher compared to the [...]
Top civil servant announced Lex Greensill in key role before joining firm April 16, 2021 A top civil servant embroiled in the Greensill lobbying row reportedly announced the company’s founder as a Crown Representative before later joining the firm. Bill Crothers, who was the government’s chief commercial officer until 2015, joined Greensill as an adviser while still working for the government. Now it’s been revealed Crothers announced the firm’s founder, [...]
