Exclusive: Digital wealth manager Nutmeg customers surge past 100,000 November 10, 2020 Digital wealth manager Nutmeg has enjoyed a coronavirus boost and now boasts more than 100,000 customers after investors shifted online amid the pandemic. The robo-adviser saw a 33 per cent increase year-on-year in its customer numbers to pass the 100,000 milestone, with assets under management (AUM) peaking at £2.3bn. In the six months to June [...]
Market surge crashes trading platforms on ‘busiest ever day’ November 9, 2020 Investors trying to cash in on today’s market surge were left disappointed after some of the major trading platforms crashed due to overwhelming demand. Pharma giant Pfizer today announced that early studies of its coroanvirus vaccine are 90 per cent effective which sent markets into a frenzy. The FTSE 100 shot up, closing up 4.67 [...]
Ineos launches clean hydrogen business in green drive November 9, 2020 Sir Jim Ratcliffe’s firm Ineos has joined the long list of corporates piling into green energy with the launch of a new UK business to cut carbon emissions. The chemicals company has today launched a new clean hydrogen business, headquartered in the UK, in its drive to net-zero carbon emissions. Through its subsidiary Inovyn, Ineos [...]
High court judge blocks Brazil lawsuit against BHP November 9, 2020 A landmark case brought by a Brazilian claimant group against mining giant BHP over a burst dam has been struck out by the High Court. A High Court judge in Manchester said managing the 200,000-strong claimant group would be like “trying to build a house of cards in a wind tunnel” and said the case [...]
Weekly outlook, 9-13 November: Investors shift their focus back to the UK economy November 9, 2020 Investors were kept busy with the drama across the Atlantic last week, but they’ll soon want to focus back on the UK in what will be a busy week of results and economic updates. After a nail-biting election, markets will likely be considering the implication of a Biden presidency. But with GDP and unemployment figures [...]
Scottish Widows pulls £440m from investments in ESG push November 9, 2020 Pensions provider Scottish Widows has announced it will pull millions from companies failing to meet its ESG standards. The £440m divestment from companies that “pose significant ESG” risk is the firm’s latest sustainable push, and is one of the largest exclusions policy by an institutional investor yet. The divestment seeks to protect almost 6m customers [...]
Housing market fends off significant hit of second lockdown November 9, 2020 While the second lockdown in England has had a detrimental effect on the country’s hospitality and leisure industries, the housing market is having an entirely different experience. The early impact of the second lockdown is bearing little resemblance to the hit it took in March, according to estate agent Knight Frank. UK house prices have [...]
Private equity circles William Hill’s European arm November 8, 2020 Buyout firms are once again circling William Hill, this time for its European operations following a deal with American firm Caesars Entertainment. In late September William Hill said it had given Caesars Entertainment the green light for a £2.9bn deal, which will be put to a shareholder vote on 19 November. Once shareholders have approved [...]
National Grid faces breakup amid PM’s green push November 8, 2020 Boris Johnson’s push to reshape the energy industry in order to achieve the net zero target could reportedly see the break up of the National Grid. The regulator Ofgem’s recent review into National Grid will soon draw to a close and officials are exploring moves to breakup its current structure, according to the Sunday Telegraph. [...]
Vaccine taskforce chief spends £670,000 on PR team November 8, 2020 The chair of the government’s vaccine taskforce has reportedly used £670,000 of the taxpayers’ money on her own team of PR consultants. Kate Bingham was appointed in May and since June has used eight-full time PR consultants, on the equivalent of £165,000 salaries, to oversee her media strategy, according to the Sunday Times. Documents leaked to [...]
