Barclays takes on HSBC as it opens up mobile app to rival bank accounts September 12, 2018 Barclays is taking on HSBC as it opens up its app to rival banks accounts, it announced today. The high street bank will be the first to let customers bring current accounts from other providers into its mobile banking platform using Open Banking technology. The ability to aggregate accounts is already offered by HSBC's Connected Money, which uses so-called screen-scraping to access accounts at competitor [...]
Private equity group Abraaj closes London office as cost-cutting continues September 11, 2018 Dubai-headquartered private equity giant Abraaj is closing its London office as part of cost-cutting measures ahead of the sale of its fund management unit. Liquidator PwC confirmed the closure of the company's Mayfair base and said it is part of normal money saving activities during an insolvency process. Read more: TGI Friday’s private equity owner Electra ends buyout talks The [...]
Tesco set to launch discount store brand next week September 11, 2018 Supermarket chain Tesco is set to launch a new discount store format next week in a bid to compete with German rivals Aldi and Lidl. The UK's biggest supermarket advertised recruitment for retail assistants, customer service assistants and manager roles for a new store format in Chatteris, Cambridgeshire, earlier this year. Read more: Jamie Oliver joins up with Tesco with [...]
Exxonmobil reveals £500m upgrade plan for Fawley refinery September 11, 2018 US oil and gas giant Exxonmobil has unveiled plans for a £500m upgrade to the UK's largest fuel refinery. The project will involve constructing a new hydrotreater unit and hydrogen plan at Fawley refinery, near Southampton, which produces fuel for one in six UK cars. Read more: UK offshore oil and gas firms concerned over record low drilling The [...]
Fraud detection firm Ravelin announces £8m Series B funding September 11, 2018 London-based fraud and risk prediction company Ravelin has announced an £8m Series B financing round to fund expansion in the U.S. European private equity firm Blackfin Capital Partners led the round with existing backers Amadeus Capital Partners, Passion Capital and Playfair Capital retaining their stakes. Read more: Challenger banking app Monese lands $60m funding round Ravelin, which has [...]
Shares up at construction rental firm Ashtead after quarterly results September 11, 2018 Shares in equipment rental company Ashtead were up 4.7 per cent this morning after the firm reported boosted revenue and profits in the first fiscal quarter driven by an surge in the US construction market. The figures Rental revenue was up by 19 per cent to £961m and underlying profit before tax was boosted by 23 per cent [...]
Trading platform Aquis Exchange to set up Paris hub to prepare for Brexit September 10, 2018 Exchange service group Aquis will open a new Paris office in preparation for Brexit. London-listed Aquis Exchange, which operates a Europe-wide cash equities trading platform, has filed applications with French authorities ACPR and AMF to open an investment firm in the capital. Read more: Barnier says 'realistic' to expect Brexit deal in weeks The new hub is being set up in [...]
CYBG’s £1.7bn takeover of Virgin Money approved by shareholders September 10, 2018 Shareholders have backed banking group CYBG's £1.7bn takeover of Virgin Money. CYBG, which owns Yorkshire Bank and Clydesdale Bank, and Virgin Money held general shareholder meetings this morning where three motions related to the deal were passed with an overwhelming majority. Read more: Virgin Media wins landmark legal case against council over land access All three resolutions were passed [...]
Warren Buffett partners with London estate agent Kay & Co in vote of confidence for capital’s property market September 10, 2018 The capital's property market has received a vote of confidence as billionaire Warren Buffett partners with London estate agent Kay & Co, despite a recent house price slump. Luxury agent Kay & Co has signed a franchise agreement to join Buffett's investment vehicle Berkshire Hathaway Home Services. Buffett, known as the "Oracle of Omaha", is the chief [...]
Mobius to raise £200m for emerging markets investment trust September 10, 2018 Veteran emerging markets investor Mark Mobius is raising £200m for a new focused trust, four months after the launch of his asset management firm. Mobius, who retired from Franklin Templeton in May before establishing Mobius Capital Partners, is looking to raise the money for Mobius Investment Trust through an Initial Public Offering (IPO) in October. Read more: Lira and rand hold steady [...]
