The era of steady growth and inflation is over, BlackRock warns July 11, 2022 The world’s biggest asset manager BlackRock said today the era of steady growth and inflation was over as it revealed it had slashed its exposure to developed market equities and was bracing for extended period inflation and volatility.
Klarna valuation plummets to $6.7bn in new funding round July 11, 2022 Buy-now pay-later giant Klarna announced its valuation had plunged to $6.7bn after its latest funding round today, down from $45.6bn last year, as it becomes the latest firm to be rocked by a global tech downturn. Klarna, which provides both a consumer credit product and retail banking services in some jurisdictions, said today it had [...]
Climate reporting a ‘burden’ for pension funds but the only way forward, says Opperman July 11, 2022 Newly reappointed pensions minister Guy Opperman said today that new climate reporting measures for pension funds were a “challenge” and “burden” for fund managers but it was clear it was now the only way to clean up investment. Opperman, who resigned and was reappointed to his role last week, said that becoming the first country [...]
Exclusive: Political turmoil causing ‘uncertainty’ and jeopardising rules reform, Starling boss warns July 11, 2022 The chief of digital bank Starling warned that political volatility was causing “uncertainty” for businesses today as she voiced concerns that the government’s business reform agenda could be blown off course. In comments shared exclusively with City A.M., Anne Boden, who founded the digital bank in 2014, warned the tumult of Boris Johnson’s resignation last [...]
London Stock Exchange Group backs new fintech funding review as venture cash dries up July 11, 2022 The London Stock Exchange Group has thrown its weight behind a new review of the fintech funding landscape today as venture cash dries up and valuations plunge in the face of a looming recession.
Software giant Atlassian leaves UK in setback for the City’s tech hopes July 10, 2022 Australian software giant Atlassian is quitting the UK and shifting to the US in a fresh blow to London’s ambitions to establish itself as a global tech hub.
Revolut executive resigns amid growing tensions with regulator July 10, 2022 One of Revolut’s top regulatory chiefs has stepped down from her role just weeks after boss Nikolay Storonsky criticised the Financial Conduct Authority for its sluggish progress on the firm’s banking licence application.
Tesco and Heinz resolve pricing war with products set to return to shelves July 8, 2022 Tesco and Heinz announced they had resolved a pricing war today and said “lorries full of Heinz products” will “hit the road shortly”, after the grocer pulled the firm's products from shelves at the end of last month.
Brits slash spending on essentials as cost of living soars July 8, 2022 Brits are tightening the purse strings and cutting back on essentials as the cost of living continues to soar, according to official polling today.
Top Hong Kong official to take over as FCA chair July 8, 2022 The Financial Conduct Authority has announced today that one of Hong Kong’s top financial officials will take over as chair of the watchdog next year.
