Could financial services dealmaking rebound this year? EY thinks it might February 20, 2023 The value of dealmaking among UK financial services firms could rebound this year after a sharp slump in 2022, as volatile valuations settle and private equity firms swoop back into the market, EY has predicted. The predictions come after the total value of deals in the UK fell 40 per cent last year to £15.2bn [...]
Buy-now pay-later complaints jump as shoppers rely on providers amid cost of living crunch February 19, 2023 Shoppers are filing more complaints about buy-now pay-later (BNPL) firms to the UK's financial complaints body as shoppers turn to firms like Klarna and Zilch to fund their spending in the cost of living crisis.
Exclusive: Zopa snaps up buy-now pay-later firm DivideBuy February 16, 2023 Digital lender Zopa is set to snap up buy-now pay-later firm DivideBuy as it kicks off a dealmaking push following a funding round earlier this year. The deal marks the London-based bank’s first acquisition and comes after it raised a £75m warchest in January, which bosses said would be channelled into dealmaking. Zopa did not [...]
Home REIT receives takeover approach as it confirms rent collapse and ‘wrongdoing’ investigation February 16, 2023 Home REIT revealed it is the subject of a potential takeover bid this morning as it confirmed its rental collection had collapsed and swathes of its property portfolio were in need of refurbishment. In a statement, the troubled social housing investor said it had received an unsolicited approach from London-based investment firm Bluestar regarding a [...]
Up and Atom: How the Durham-based digital bank is taking on the high street stalwarts February 16, 2023 Lending, according to Atom Bank boss Mark Mullen, is back in vogue. While it’s a view that might run counter to some of the political disquiet towards Britain’s big high street lenders, for Durham-based digital lender Atom, it’s hard to argue with. The firm has tempted in hordes of customers this year and is on [...]
Tech investors sound alarm over five ‘urgent issues’ choking UK innovation February 15, 2023 A group of top tech investors and entrepreneurs have piled pressure on the newly appointed science and tech minister to address “urgent issues” choking off growth in the UK’s innovation sectors.
Atom Bank boss backs London as home for much-anticipated IPO February 15, 2023 The chief of digital lender Atom Bank has publicly thrown his weight behind London as its home for an eventual initial public offering, in a boon to the City as it looks to tempt in more tech listings.
FCA spares Amigo £72.9m fine to ensure burnt customers get redress February 14, 2023 The City watchdog has publicly censured beleaguered lender Amigo for a loan mis-selling scandal this morning but spared it a £72.9m fine, saying it would prevent the firm from paying out compensation to customers.
Fintech trading platform Plus500 to put $100m back in shareholders’ pockets after bumper year February 14, 2023 Fintech trading platform Plus500 topped market expectations for the year today and announced it would put £82m ($100m) back in shareholders’ pockets after cashing in on “higher value” customers last year. In its preliminary full year results, the London-listed Israeli firm announced it would kick off a new $70m share buyback programme alongside a $30m [...]
Buy-now pay-later firms braced for clampdown as Treasury looks to grant regulator new powers February 13, 2023 The government said it will give City watchdogs the power to “clamp down” on buy-now pay-later firms this year as it prepares to publish a much-delayed update on the scope of regulation around the sector tomorrow morning. The Treasury will lay out the details of regulation that will include plans to bring firms like Klarna, [...]
