Woodford fund manager set to return £20m to burnt investors October 6, 2022 The manager of Neil Woodford’s collapsed investment fund said today it plans to give £20m back to investors after it was warned by the financial watchdog it would be hit with a hefty bill over its role in the scandal last month.
Binance strikes again! Kazakhstan becomes latest country to grant licence October 6, 2022 Binance has been granted a permanent licence by Kazakhstan’s AIFC Financial Services Authority (AFSA) to operate a digital asset platform.
Mark Kleinman: Vodafone pressure, steel woes and a new business boss October 6, 2022 Mark Kleinman is the man the City reads – and in his fortnightly column for City A.M., he shares his insight and analysis. Vodafone boss hopes deal eases the pressure At last, an engaged tone. Two months after I wrote in this column that Nick Read, the Vodafone chief executive, was looking nervously over his [...]
Explainer-in-brief: The back story of the bizarre Elon Musk Twitter deal October 6, 2022 Yes, no, yes. Elon Musk has been uniquely indecisive about his buyout of Twitter. He seems to have finally capitulated and confirmed the deal just weeks before he was expected in court over his u-turns. The legal drama started when Musk announced he was going to buy the social media platform in a $44bn deal. [...]
Samsung braces for biggest profit slump in years as consumer tech demand dries up October 6, 2022 Samsung Electronics could be swallowing its biggest profit slump in nearly three years in the third quarter, as a global economic crunch weighs on demand for consumer tech. The Korean technology giant may have had its profit dwindle by 25 per cent to $8.3bn (£7.3bn) in the three months to September, according to analysis by [...]
Dorries: Truss ‘deserting the centre ground’ with ‘unconservative’ benefit cuts October 6, 2022 Nadine Dorries has accused Liz Truss of “lurching to the right and deserting the centre ground” allowing Labour leader Keir Starmer to “place his flag on”. The former culture secretary who supported Truss in her leadership bid and was a staunch supporter of Boris Johnson, said the government’s policies were “cruel” in a time of [...]
Consumer squeeze ‘worse than I have ever known’ says ex CBI boss and Cobra Beer chair October 6, 2022 Consumers are being squeezed by “worse than I have ever known,” the former chief of the Confederation of British Industry (CBI) and the founder of Cobra Beer has said. Speaking on BBC Radio 5 Live’s Wake Up to Money programme, Lord Karan Bilimora was asked about the impact of industrial action this month – with [...]
CMC profits to hit £150m as retail traders look to capitalise on volatility October 6, 2022 Trading platform CMC Markets said it was expecting a jump in profits in the first half of the year after online traders poured onto its platform to try and profit from volatility that has rocked markets.
Gambling titan 888 makes debut in Africa October 6, 2022 888 has today launched its African offering 888bet with with local licences in Kenya, Tanzania, Mozambique, and Zambia, paving the way for further expansion in the region. The gambling titan launched an African joint venture 888AFRICA back in March to expand across Africa’s regulated online betting and gaming markets. 888AFRICA’s team said it has focused on customer [...]
Victorian Plumbing bucks trend as bathroom retail sales surge October 6, 2022 Victorian Plumbing has defeated the trend amid a subdued bathroom market and lauded rising sales this year. In full year results, the AIM-listed firm said it was trading ahead of consensus market expectations, both revenue and earnings wise. Its second-half revenue was up around per cent on last year, with sales performing especially well in [...]
