Curve hires former Paypal exec as first finance boss July 28, 2020 London fintech startup Curve has hired its first chief financial officer as it looks to expand its product and geographic scope. Curve today announced Scott Weller would be joining the banking platform’s executive team. Weller started his career in Blackrock’s private equity group before joining Paypal as a finance director. There he played a pivotal [...]
Moneysupermarket’s profit drops as coronavirus hits core markets July 28, 2020 Moneysupermarket reported a drop in interim profit and revenue as its core markets took a hit from the pandemic. The price comparison site said the “exceptional market conditions” had led to its drop in revenue with a “mixed outcome” across its verticals The figures Revenue grew two per cent in the first quarter but the [...]
St James’ Place reports increase in net inflows despite pandemic July 28, 2020 Wealth manager St James’ Place beat estimates and reported a modest rise in net inflows due to a recovery in market sentiment following the coronavirus-induced selloff. The figures Net cash inflows rose two per cent to £4.5bn in the six months to the end of June, beating the consensus expectation of £4.4bn, the same as [...]
Virgin Money reports dip in customer demand due to coronavirus July 28, 2020 Virgin Money has reported a dip in customer lending in the third quarter as demand for mortgages and personal loans fell due to the pandemic. However, the lender said it had not yet seen a spike in credit losses linked to coronavirus. The figures Virgin Money reported a 2.7 per cent drop in personal lending [...]
Brits binge eat, drink more and exercise less during lockdown July 27, 2020 People in the UK have been binge eating, drinking more alcohol and exercising less during the coronavirus lockdown, according to a new study. An online survey of around 800 adults in England were asked about their health and habits during lockdown in late June and early July. It found a sharp rise in anxiety and [...]
Deutsche Bank to end global business activities in coal mining by 2025 July 27, 2020 Deutsche Bank has revamped its approach to fossil fuels, saying it will end global business activities related to coal mining by 2025 at the latest. The new fossils fuel policy applies to financing as well as capital market transactions. The policy trails announcements made earlier this year in which the lender committed to new sustainability [...]
Natwest closes SME accounts after coronavirus loan applications July 27, 2020 Natwest has closed the accounts of some small business customers who applied for the government’s coronavirus loans to help them through the pandemic, leaving them unable to access their money. A number of customers contacted the Guardian to complain that their accounts had either been suspended or closed without any explanation after they put in [...]
Sadiq Khan calls on government to extend furlough scheme July 27, 2020 Sadiq Khan has once again called on the government to extend its furlough scheme for struggling sectors ahead of changes this weekend which could lead to a surge in unemployment. From Saturday employers will have to pay national insurance and pension contributions for furloughed employees. However, for many sectors such as hospitality and leisure, the [...]
CBILS: Three ways SMEs can avoid a coronavirus loan rejection July 27, 2020 It has been nearly four months since the Treasury introduced the Coronavirus Business Interruption Loan Scheme (CBILS) in a bid to help firms through the pandemic. The scheme did not arrive without criticisms, coming under fire for what its critics called its unclear eligibility criteria and demanding personal guarantees. While some issues have since been [...]
Woodford investors have lost £1bn since fund was frozen July 27, 2020 Investors in Woodford Equity Income fund have seen the total value of their assets slide more than a quarter – around £1bn – over the past year. There is a £122m shortfall in the fund’s total value but administrator Link said this reflected the asset and currency movements during the period. A Sunday Times investigation [...]
