Natwest: Pensions fintech bought by bank in £144m deal which will ‘shake up savings’ February 13, 2023 Natwest is to buy pensions fintech Cushon for £144m in a move the bank says will bolster its offerings of “financial wellbeing” products. The FTSE 100 lender said it would take an 85 per cent stake in the London-based fintech while the company’s existing management would retain the remaining 15 per cent. The chief of [...]
ESG: City firms feel pressure of rule changes as clampdown on greenwashing expanded by regulators February 13, 2023 City firms are feeling the pressure of impending environmental, social and governance (ESG) rules this year as regulators expand plans to clampdown on greenwashing, new research has found. Financial firms in the UK have pointed to rules on sustainability as the main pinch point facing them for a second year running, ahead of a major [...]
Crypto venture capital dries up as investors flee after FTX turmoil February 13, 2023 Investment into cryptocurrency startups collapsed at the end of 2022 as the market was shaken by the implosion of Sam Bankman-Fried’s exchange FTX and a string of high-profile bankruptcies, new research has revealed. The flow of cash into crypto start-ups fell to $2.5bn in the final three months of 2022 – down 75 per cent [...]
UK banks set to report record profits of £37bn beating pre-financial crisis highs February 13, 2023 The UK’s top banks are set to unveil record profits in the next two weeks after sharp interest rate hikes boosted the lenders’ coffers last year. The big five FTSE 100 banks – Barclays, HSBC, Lloyds, NatWest and Standard Chartered – could post cumulative pre-tax profits of £37.4bn as they reveal their earnings for 2022, [...]
Home REIT’s top tenant looking to offload leases as cash troubles continue February 13, 2023 The biggest tenant of beleaguered property investor Home REIT is looking to offload its leases to other housing providers after warning it can no longer pay rent to the firm, City A.M. has learned.
Tech Nation lines up potential buyers for assets as closure looms February 12, 2023 Start-up group Tech Nation has reportedly lined up a host of potential bidders for its assets as it prepares to permanently close its doors at the end of March.
London-based Osmosis wins $4.5bn ESG mandate from Dutch pension fund February 12, 2023 London-based asset manager Osmosis has won a $4.5bn sustainable investment mandate from a top Dutch pension fund looking to slash the environmental impact of its investment portfolio.
Share price plunges for Ladbrokes owner Entain as MGM boss quashes takeover speculation February 9, 2023 Shares in gambling group Entain plunged this morning after the boss of potential suitor MGM quashed talks of a possible takeover. The FTSE 100 Ladbrokes owner and US resort giant MGM currently operate a US joint venture BetMGM, which has seen bumper growth and is expected to start delivering profits later this year. The bumper [...]
How crisis has become the norm for the UK’s small businesses, Tide chief February 9, 2023 Economic crises have rocked the UK’s smaller firms over the past three years – now they’re becoming par for the course, boss of small business banking firm Tide tells City.A.M.’s Charlie Conchie Small business banking has played a strangely starring role in the national drama of the past three years. When Covid first began to [...]
Bank of London maintains $1.1bn valuation with fresh funding injection February 8, 2023 Fintech clearing bank the Bank of London revealed it had bagged a fresh $40m funding injection today as it gears up for full operations after winning its full banking licence last month.
