Covid loan schemes help Funding Circle boost income January 18, 2021 Lending platform Funding Circle saw total income rise in the second half of the year helped by record loans under management. Total income rose 26 per cent to £121m helped by a strong performance by its UK operations, which grew 60 per cent to £94m. Loans under management in the UK were up 27 per [...]
Exclusive: UK tech still needs the EU, says TechUK boss January 18, 2021 As thousands of businesses breathe a sigh of relief now the Brexit deal has been agreed, one leading tech figure thinks the EU remains important for the UK. Julian David, chief executive of TechUK, spoke to City A.M. about his thoughts on the Brexit deal for the tech sector and the future for the industry [...]
Greatest Day: One Media IP snaps up Take That producer royalties January 18, 2021 One Media IP Group has bought the producer royalties of a selection of tracks by pop group Take That from British producer Ian Levine. The Aim-listed company said the tracks included “A Million Love Songs” and “I Found Heaven” from Take That’s 1992 album for an undisclosed sum. The group has also bought the producer [...]
Centrica’s finance chief steps down after seven months January 18, 2021 Centrica’s (CNA) chief financial officer will leave the firm at the end of the month after just seven months in the role. Johnathan Ford, who joined from Homeserve in June 2020, is stepping down for “personal reasons” and leaving Centrica on 31 January. Group financial controller Kate Ringrose has been promoted and will be appointed [...]
Housing secretary upholds approval of £250m Richmond urban village January 18, 2021 The housing secretary has granted property developer Avanton the go-ahead for a new 453-home urban village in Richmond. Avanton acquired the site in 2018 but its planning permission was initially refused by Richmond Council the following year. Mayor of London Sadiq Khan intervened to grant permission in October 2020 after Avanton announced plans to make [...]
Deliveroo’s fresh funding round brings valuation to over $7bn ahead of IPO January 17, 2021 Food delivery startup Deliveroo has secured $180m in new funding, pushing its valuation to over $7bn ahead of its long-awaited float. The Series H funding round was led by Durable Capital Partners and Fidelity Management & Research and indicates the strong demand from investors ahead of its IPO. The British unicorn is preparing for a [...]
Volunteer for vaccine trials as part of national effort, urges government January 17, 2021 As the vaccine rollout gathers pace the government is urging the public to play their part by volunteering for vaccine trials as well as helping elderly relatives with jab appointments. The NHS has vaccinated around 45 per cent of those aged over 80 in England and more than 1m have been invited to book an [...]
Chancellor plots one-off Covid grant for benefit claimants January 16, 2021 The Chancellor is reportedly planning a one-off payment for benefit claimants instead of extending the temporary £20-per-week increase. Rishi Sunak met with the work and pensions secretary Therese Coffey on Friday to discuss the alternatives to the increase in universal credit payments, according to The Times. He increased universal credit and the basic working tax [...]
Aviation industry risks collapse without ‘urgent’ support following travel curbs January 16, 2021 The aviation industry risks collapse without “urgent” government support, industry groups have warned following the latest travel curbs. From Monday all travel corridors to the UK will be scrapped to prevent any further spread of the new strains of coronavirus. Travellers arriving in the UK must now provide a negative test pre-departure, followed by a [...]
Citigroup and JP Morgan beat expectations after releasing loan reserves January 15, 2021 American banks Citigroup and JP Morgan’s fourth quarter earnings beat analysts’ expectations helped by the release of a pile of cash set aside for loans. Citigroup reported a seven per cent decline in the fourth quarter profit to $4.63bn, down from $5bn a year earlier. Earnings equated to $2.08 per share, higher than the analyst [...]
