Competition watchdog orders Facebook owner Meta to sell Giphy October 18, 2022 The competition watchdog told Facebook’s parent firm Meta this afternoon that it would need to dump Giphy, marking the first time the regulator has blocked a deal struck by a Big Tech firm. In its “final decision”, the Competition and Markets Authority (CMA) ruled that the combination of the two companies would allow Meta to [...]
FinnCap shares surge as Panmure Gordon eyes takeover October 18, 2022 Shares in London brokerage FinnCap surged over 30 per cent this morning as it confirmed that City rival Panmure Gordon was eyeing a takeover swoop for the firm.
Finally here: Elizabeth line Bond St station to open on Monday October 18, 2022 The long-awaited Elizabeth line is one step closer to completion as Bond Street station is set to open its doors to millions of travellers next Monday. The station – whose final operations are currently underway ahead of the opening – will relieve congestion at Oxford Circus and give a boost to the West End by [...]
New breed of private capital firms will face performance headwinds October 18, 2022 Under the private equity fundraising model, every few years fund managers secure capital commitments with a 10-year duration and charge management and advisory fees during the lock-up period. While longer-dated products have emerged over time, the basic pattern has remained essentially unchanged. Unfortunately, fundraising is cyclical. Downturns require patience: fund managers must wait until the [...]
The UK created the World Wide Web, now it can lead the race for an ‘internet for money’ October 18, 2022 The development of CBDCs represents an opportunity for the UK to re-establish itself as the financial centre of the world, says Paul Sisnett.
Truss approval rating at record low as just 10 per cent have favourable view of PM October 18, 2022 Liz Truss’ approval ratings have reached an historic low and polling shows that Tory members are now in favour of removing the Prime Minister. A YouGov poll today showed Truss had a -70 net-favourability rating among the British public, which is lower than Boris Johnson faced at his lowest point and the lowest ever recorded [...]
Wise hikes guidance as customers shift £27bn across borders October 18, 2022 Money transfer firm Wise has hiked its guidance for the year after a surge in cross border transactions boosted profits in the second quarter of the year.
Bitcoin looks to be consolidating around $19,500 as crypto markets dig in October 18, 2022 Bitcoin has again consolidated in the $19,000 to $20,000 range and is now up by more than 2% over the last week.
FCA’s enforcement chief to leave next spring October 18, 2022 The Financial Conduct Authority’s head of enforcement, Mark Steward, has announced that he will be stepping down after seven years with the regulator. The FCA said in a statement today that Steward will leave in spring next year, and that the search for his successor “will begin shortly.” Nikhil Rathi, Chief Executive of the FCA, [...]
Eurostar cancels Paris-London services as strikes hit France October 18, 2022 Eurostar has cancelled trains between Paris and London as nation-wide strikes hit France. The train operator was forced to axe today’s 11.13am and 4.13pm services to London as well as the 1.31pm and 7.01pm trains to Paris, as thousands of French transport workers walked out in a dispute over pay. “Travellers booked on a cancelled [...]
