By: Jennifer Sieg

SME Correspondent Jennifer Sieg is an SME correspondent and editor of Ambition A.M., City A.M.'s weekly newsletter for all things entrepreneurship. She is also the host of Founder Favourites podcast, interviewing some of the UK's most interesting and up-and-coming founders. Email: jennifer.sieg@cityam.com

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Citigroup to sell China consumer wealth business to HSBC

October 9, 2023

Citigroup said on Monday it had agreed to sell its China consumer wealth portfolio, including clients, assets under management (AUM) and deposits, to Asia-focused HSBC Holdings Plc. The deal covers total deposits and investment AUMs of about $3.6 billion, and is expected to close in the first half of 2024. Financial details of the transaction [...]
Revolut comes one step closer to UK licence after entering deal with SoftBank

October 4, 2023

Fintech Revolut has moved one step closer to securing a UK banking license, as it signed a share deal with its Japanese investor SoftBank to break down a major barrier. The Bank of England ordered Revolut to collapse its six classes of shares into one as a requirement for a full licence, the Financial Times [...]
Airbnb targets long-term rentals and aims for eventual expansion ‘beyond travel’

October 4, 2023

Change is on the horizon for Airbnb and its customer base, with the multipurpose travel app looking to incorporate longer-term rentals and add “beyond travel” experiences. Airbnb is most known for its convenient travel accommodation planning and bookings, but this could soon change. Next month could bring the “biggest update to Airbnb ever,” chief executive [...]
‘Brand thieves’: Easyjet’s parent firm takes legal action against UK band Easy Life

October 3, 2023

Easyjet’s parent company Easygroup is suing a Leicestershire band over the use of ‘easy’ in its name. The artist called Easy Life has said the airline’s biggest shareholder is taking legal action against it, with the aviation giant insisting it has chased numerous similar cases in the past. Easy Life is a five-member band formed [...]
Tourism tax: Heathrow sees rise in Chinese visitors — but they are not splashing the cash

October 2, 2023

Chinese visitors have returned to numbers close to those before the pandemic — but they are not spending like they used to. Heathrow has reported that Chinese visitor numbers were at 88 per cent of 2019 levels in July, but the airport said their spending at its shops was only 33 per cent of what [...]
ESG priority for investors is avoiding corruption, says new survey

October 2, 2023

Avoiding companies with corrupt practices is one of the top ESG priorities for investors, a new survey has found. And even if a company is back on the rails after suffering a scandal, investors still prefer to back corporates with a clean record. In the survey of Hargreaves Lansdown clients, nearly 83 per cent said [...]
Archer Daniels Midland broker fined £6.5m for lax anti-money laundering controls

October 2, 2023

The brokerage arm of US food processing giant Archer Daniels Midland (ADM) has been fined nearly £6.5m for “inadequate” anti-money laundering controls. The watchdog said that the nature of the ADM Investor Services International‘s business and client base presented potentially high levels of risk because of its business model, geographical location of customers, and high-risk [...]
Half a million sole traders could see bankruptcy over the next year, Tide says

October 2, 2023

Bankruptcy could be the future for nearly half a million sole traders in the UK over the next year, new analysis of public business data suggests. The research from the business financial platform Tide says energy bills, late payments, and “soaring” prices are to blame for an increase in financial pressure on entrepreneurs. Sales have [...]
Revolut in talks with FCA over suspected red-flag accounts

October 1, 2023

Revolut is reportedly in discussions with the Financial Conduct Authority (FCA) over claims it allegedly allowed money to leave accounts flagged by the National Crime Agency as suspicious.
Business confidence takes a dip in September – but analysts say not to worry

September 29, 2023

Business confidence has fallen to 36 per cent this month, nearly five per cent below what was recorded in August.

Fury promoters Queensberry see profits rise after Dubois vs Joshua bout

Fury promoters Queensberry see profits rise after Dubois vs Joshua bout

What’s on in London January 2026

By: Jennifer Sieg

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