London should not overlook SPACs, former LSE boss says February 24, 2021 The former London Stock Exchange boss, Xavier Rolet, has declared London should consider blank-cheque vehicles following a surge of activity in the US. A number of big names, including Rolet himself, have jumped on the SPAC craze which is sweeping the US. SPACs – special acquisition companies- are created to raise capital through a public [...]
Super-rich opt for London despite temporary exodus amid pandemic February 24, 2021 London’s standing as a home for the super rich to live, invest and do business in has been unchanged during the pandemic.
Asset manager Intriva Capital swoops on Moneyplus Group February 24, 2021 Asset manager Intriva Capital has bought a “significant” stake and supported a management buyout in consumer debt advice company Moneyplus Group. Intriva Capital, an independent alternative investment manager that specialises in credit businesses, said the management buyout would accelerate Moneyplus Group’s expansion. The existing management team will continue in their roles. The asset manager also [...]
FTSE reshuffle: Newcomers Dr Martens and Moonpig battle for promotion February 23, 2021 The FTSE 100 is set for another reshuffle next week as the blue-chip index adapts to the pandemic and makes way for a handful of newcomers. FTSE Russell, which runs the index, will decide who’s up and who’s down according to closing prices on 2 March, with changes effective from 19 March. Despite the pandemic [...]
Crypto selloff sends Bitcoin tumbling below $50,000 February 23, 2021 Bitcoin tumbled this morning as investors ditched cryptocurrencies amid nervousness over sky-high valuations. Bitcoin suffered its biggest daily drop in a month to fall as low as $45,000 before recovering to just over $48,500. Ethereum is also down more than 18 per cent to $1,512. It follows Monday’s crash which saw Bitcoin plunge from $58,000 [...]
Phoenix Group buys Standard Life name February 23, 2021 Standard Life Aberdeen has sold the historic Standard Life name to insurance group Phoenix for an undisclosed sum. The firms have agreed Phoenix will buy the Standard Life name over the course of the year, in what both parties claim is a “simplification” of the partnership. Employees who work on the Standard Life brand are [...]
Foxtons confirms talks to buy rival Douglas & Gordon February 22, 2021 London-listed estate agent Foxtons has confirmed it is in talks to buy West London-based agent Douglas & Gordon. In a statement, Foxtons said the discussions “reflect the company’s stated ambition to acquire high quality businesses with strong lettings books.” Douglas and Gordon, which is run by former Foxtons executive James Evans, has 17 branches in [...]
Who were 2020’s highest-paid hedge fund managers? February 22, 2021 While other parts of the economy took a kicking amid the pandemic, the hedge fund elite seemed to weather the storm. Institutional Investor’s 20th edition of its Rich List reveals the top 25 hedge fund managers banked a cool $32bn last year. Overall hedge funds returned 11.6 per cent last year, their best performance in [...]
Global dividend payments fared better than expected due to strong fourth quarter February 22, 2021 Global dividend payouts fared better than expected last year after a strong fourth quarter kept total cuts to $220bn. Janus Henderson’s latest Global Dividend Index reveals that although payments fell 12.2 per cent over the year, it was better than the previously forecasted $1.2 trillion. This was largely because fourth quarter cuts were less severe, [...]
HR tech startup Orka raises £29m to scale earned wage access product February 22, 2021 HR startup Orka Technology Group has raised £29m in fresh funding to support its earned wage product and drive its UK expansion. The Manchester-based startup is designed specifically for hourly workers with its labour-as-a-service platform allowing people to find temporary employment. Last year the startup announced Orka Pay, which allows hourly paid workers to withdraw [...]
