Iwoca hits profits as recession fears boost small firms’ demand for cash February 1, 2023 Fintech lender Iwoca said it hit profitability for the first time last quarter after a surge in demand for borrowing as small businesses were rocked by soaring costs and a looming recession.
FCA is ‘doing its best’ and asks for ‘understanding’ as city regulator counters concern over unfilled roles January 31, 2023 A Financial Conduct Authority chief has called for more understanding from the City and said the regulator is doing its “best” after criticism in recent months it has failed to hire fast enough to meet its swelling remit.
Tech Nation to shut down after government controversially gives funding to Barclays January 31, 2023 Start-up network Tech Nation is to be wound down after the government controversially withdrew its funding and handed it to Barclays, the organisation announced today. Tech Nation, founded by the coalition government in 2010, said it would cease operations from the end of March after the Department for Culture Media and Sport confirmed it had [...]
Hambro SPAC ditches merger talks with biotech firm January 30, 2023 Hambro Perks Acquisition Company (HPAC), a pioneering special purpose acquisition company (SPAC), has abandoned plans for a merger with biotech firm Istesso. HPAC, which became the first SPAC to float in London in November 2021 after regulators overhauled UK rules, had been in talks with Istesso over a planned merger. Istesso is part-owned by London-listed [...]
FCA landed on ‘suspiciously round numbers’ to justify greenwashing rules, top MP claims January 30, 2023 The chair of the influential Treasury committee has slammed the Financial Conduct Authority (FCA) over its planned 'greenwashing' rules, claiming the regulator landed on "suspiciously round numbers" to justify the plans and questioned the methodology it used to reach its conclusions.
UK investors facing dividend drop-off as inflation squeezes profits January 30, 2023 Investors in UK firms are facing a drop-off in dividends this year as rising costs cause firms to rein in their payouts following a bumper 2022, according to new data.
BP vulnerable to takeover as London bargain hunt continues, top analyst predicts January 29, 2023 UK oil and gas firms could be on the receiving end of a wave of takeovers this year as investors swoop on historically cheap London-listed companies, a top analyst has predicted.
FCA to take swift action against firms flouting consumer duty rules, lawyers warn January 29, 2023 The Financial Conduct Authority is expected to take swift action against firms that fail to comply with new rules to protect savers and retail investors, City lawyers have warned. The City watchdog announced a major overhaul to consumer regulation last summer in the new Consumer Duty, which is set to shift greater onus onto companies [...]
Competition watchdog is asked to step in over pricing spat between Wise and Atlantic Money January 27, 2023 Money transfer firm Wise has been reported to the competition watchdog after removing one of its smaller, cheaper competitors from its price comparison tools. London-listed Wise, which offers its own comparison tool as well as a number of others on external sites, has removed or delisted any mention of Atlantic Money’s cheaper service, in a [...]
Bank dealmaking slumped to a five year low in 2022 – will it rebound this year? January 26, 2023 Mergers and acquisitions involving Europe’s top lenders slumped to their lowest level in five years last year as aggressive moves by central banks spooked dealmakers, new research has revealed.
