Stuart Rose backs challenger money manager Netwealth in £11m funding round March 29, 2021 Netwealth, the money manager backed by a string of leading City figures, has secured its fourth round of fundraising with total investment reaching £38m. The self-proclaimed challenger wealth manager has completed a £11.3m round which included a cash injection from former M&S boss Stuart Rose. ICAP founder Michael Spencer who previously invested £5m in 2019 [...]
Uber launches electric option in London at no extra cost March 29, 2021 Uber customers will now be able to request an electric vehicle for the first time as the ride-hailing app looks to become fully electric by 2025. Launching today Uber Green will give passengers in Zone 1 the opportunity to request an electric vehicle at no extra cost. The journey will cost the same as a [...]
Financial services firms unaware of cybersecurity risks attached to remote working March 28, 2021 As the UK starts to emerge from the pandemic the debate surrounding remote working has reared its head again. New research shows bosses are unaware of the cyber security threat attached to more employees working outside the office. As lockdown restrictions start to ease more firms are considering a pivot to a more permanent remote [...]
Efforts to free ship stranded in Suez Canal continue March 28, 2021 Efforts to dislodge the large container ship stuck across the Suez Canal will continue today after attempts on Saturday’s high tide failed. The 400 metre Ever Given became wedged in the canal on Tuesday which has caused chaos for global shipping. More than 300 ships are stuck on either side of the blockage while some [...]
Eurostar in crunch talks with lenders over £400m debt pile March 28, 2021 Eurostar is in emergency talks with its lenders to avoid collapse as the deadline for the repayment of its £400m debt pile nears. Passenger numbers on the Eurostar have plummeted 95 per cent since March as coronavirus restrictions have battered international travel. The service is currently running just one service a day to both Paris [...]
Gupta’s empire on the brink as ministers reject bailout plea March 28, 2021 Ministers have rejected Sanjeev Gupta’s request for a bailout over concerns surrounding the group’s opaque structure. The steel tycoon wrote to ministers last week asking for a £170m to avert collapse but a senior civil servant has since formally rejected the plea, according to the Sunday Times. It cited multiple concerns including the group’s structure [...]
UK and EU strike cooperation deal on financial services March 26, 2021 The UK and EU have agreed the terms for future cooperation on financial services between the two jurisdictions. “Formal steps need to be undertaken on both sides before the Memorandum of Understanding (MoU) can be signed but it is expected that this can be done expeditiously,” The Treasury said in a statement. “The MoU, once [...]
GFG Alliance asks ministers for £170m bailout to avoid collapse March 26, 2021 Sanjev Gupta’s steel empire has asked the government for an emergency bailout of as much as £170 to avert collapse. GFG Alliance wrote to the government this week to request emergency funding as it grapples with financing following Greensill’s collapse, according to Sky News. Greensill, which specialises in supply chain finance, was among GFG’s biggest [...]
David Cameron cleared of breaking lobbying rules after Greensill reports March 26, 2021 Former PM David Cameron has been cleared of breaking lobbying rules just days after reports he asked Downing Street officials to help Greensill Capital. “The Registrar of Consultant Lobbyists has concluded his investigation into whether the Rt Hon David Cameron has engaged in unregistered consultant lobbying,” the registrar said in a statement. “His decision is [...]
Curve launches NFT auction in bid to raise cash for London theatres March 26, 2021 Fintech Curve has joined the NFT bandwagon and launched an auction in a bid to raise cash for London’s theatres that have been left devastated by the pandemic. Non-fungible tokens are cryptocurrency takens which certify the ownership of a unique digital file using blockchain. They have become a way for creatives to raise cash during [...]
