GAM takeover battle erupts after Xavier Niel-backed group launches rival bid to Liontrust July 18, 2023 A takeover battle has erupted over ailing Swiss fund manager GAM today as a consortium backed by telecoms mogul Xavier Niel launched a counter bid to London-listed Liontrust.
Hargreaves Lansdown chair set to step down after run-ins with founder July 18, 2023 The chair of retail investment platform Hargreaves Lansdown is set to step down after a bruising series of run-ins with the firm’s founder. In a statement yesterday, the Bristol-based DIY investing outfit said last night that it had begun scouting out “successor chair candidates” for Deanna Oppenheimer, who has overseen the firm since 2018. News [...]
Wise makes more interest rate hay as income surges 66 per cent July 18, 2023 Wise, the money transfer firm, said the amount of interest income it was raking in on customer balances has continued to rise after it made hay from rising rates last year. In a trading update today, Wise said balances in its customers’ accounts had grown to £11.5bn in the first three months of its financial [...]
Smart Pension snaps up £750m peer as government calls for consolidation grow July 17, 2023 Top workplace pension firm Smart Pension has snapped up a peer with some £750m under management as pressure from the government grows for faster consolidation in the sector.
FCA set for clampdown on ‘wild west’ of social media ‘finfluencers’ July 17, 2023 The FCA is set to target 'finfluencers' and firms flogging financial products online with illegal or misleading adverts.
National Audit Office launches probe into FCA as regulator sizes up crypto and AI July 17, 2023 The National Audit Office (NAO) has launched a probe into the functions of the City regulator as its remit swells to take on oversight of technologies like cryptoassets and artificial intelligence.
FTSE 100 firms slash charitable giving as profits rocket July 17, 2023 Britain’s biggest companies have slashed their charitable donations by nearly a quarter over the past decade despite pre-tax profits rocketing in the same period, research has showed.
Plans to shelve buy-now pay-later rules ‘incredibly concerning’, says Which? July 17, 2023 A top campaign group has sounded the alarm today after it emerged that the government is preparing to shelve plans to clampdown on the buy-now pay-later (BNPL) sector.
Business groups hail Indo-Pacific trade deal as boost for City despite minor growth bump July 16, 2023 Business groups have hailed the UK’s membership of a major Indo-Pacific trade bloc as a potential boost to the City today despite analysis showing a meagre growth bump from the deal over the long term.
London IPO market slumps below Istanbul and Milan July 14, 2023 The London Stock Exchange has slumped below Istanbul and Milan in terms of IPO activity this year as the Square Mile is hit by a drought in its listings market, new research has revealed.
