FCA: First illegal crypto ATM operator pleads guilty September 30, 2024 The first person charged with illegally running a crypto ATM network has pleaded guilty after the Financial Conduct Authority brought a case against him earlier this month. Olumide Osunkoya pleaded guilty today to five offences at Westminster Magistrates’ Court, after running multiple crypto ATMs without FCA registration. In addition, he was charged for creating and [...]
City chief goes all in on gold amid government borrowing surge September 30, 2024 A City manager has gone all in on gold as government borrowing has spiralled to "bonkers" levels as a measure against inflation.
Meet the fund managers: Renewable infrastructure in the FTSE 250 September 30, 2024 In this weekly series, investment reporter Elliot Gulliver-Needham sits down with a fund manager for a Q&A. This week, we’re hearing from Minesh Shah, manager of The Renewables Infrastructure Group (TRIG). How does your fund stand out from others in the same market? The Renewables Infrastructure Group (often known as TRIG) is a £3bn FTSE [...]
How private equity swallowed up the UK – and why it’s unsettling regulators September 30, 2024 Private equity has been buying more and more of the UK over the past decade, with thousands of listed or private businesses now snapped up by buyout funds and venture capital investors. Iconic British businesses like Morrisons, Pret A Manger and Asda have been swallowed up by private capital, with deals like the takeover of [...]
Labour looks to water down packaging tax plan September 29, 2024 Ministers are set to make changes to a planned £1bn packaging tax proposed by the last government, according to reports.
Chinese stocks post best week since 2008 September 29, 2024 Chinese and China-focused stocks posted their best week since 2008 last week, with the CSI 300 index shooting up 15.7 per cent after strong economic stimulus measures were put in place by the country’s government. Every index tracking Chinese stocks benefited from the measures, with Hong Kong’s Hang Seng index rising more than 13 per [...]
Applied Nutrition to bring in retail shareholders for £500m float September 29, 2024 Protein shake maker Applied Nutrition is set to include millions of retail shareholders in its planned £500m float as soon as this week. The sports nutrition brand is set to muscle its way onto the public markets in collaboration with Peel Hunt-backed Retailbook, according to reports from Sky News. Last month, the firm confirmed plans [...]
Short seller makes multimillion pound bet against 3i Group September 29, 2024 Shadowfall Capital and Research has taken out a multimillion-pound short position against 3i, the largest investment trust in the UK, arguing that its largest holding, Action, is overvalued. FTSE 100 private equity group 3i has been invested in Action for over a decade, which operates close to 3,000 stores across 12 European countries like Germany, [...]
St James’s Place: Most of our funds are failing to deliver value on performance September 27, 2024 In total, 30 of the 39 funds run by St James’s Place were deemed to be lagging in their performance according to the company’s latest Assessment of Value report. Asset managers are required to publish an Assessment of Value report annually by the Financial Conduct Authority, where they must assess their funds on seven different principles with [...]
Rachel Reeves could shuffle fiscal rules to invest £50bn in UK economy September 27, 2024 Rachel Reeves is hoping to make more than £50bn available to invest in the UK at next month’s budget by changing how the government measures debt in the fiscal rules. Senior government sources have told The Times that Reeves has asked officials to draw up options for allowing the government to offset assets against national [...]
