New York-based Apollo Global Management mulls buyout of Marks & Spencer November 22, 2021 Private equity giant Apollo Global Management is reportedly mulling a buyout of UK high street staple Marks & Spencer.
Metro Bank’s largest City shareholder sells stake after private equity buyer walks November 22, 2021 A leading institutional investor has cashed in its shares at Metro Bank after a US private equity buyer walked out on takeover talks.
UK financial watchdog calls in Bitcoin experts to combat crime November 22, 2021 The City regulator is calling in Bitcoin experts to train its staff following concerns that crypto is being used by money launderers and terrorists.
Exclusive: Deloitte reveals the UK’s fastest growing tech companies November 19, 2021 London firms came out on top in Deloitte’s annual ranking of the UK’s 50 fastest growing technology companies. The country’s top 50 tech firms achieved an average growth of 3,337 per cent and saw combined revenues of £2.92bn this year, up 33 per cent compared to last year’s total of £2.2bn. The final score sheet [...]
Bitcoin cashback announcement ends in controversy for UK fintech Mode November 18, 2021 Major retailers Boots and Ocado have distanced themselves from an announcement claiming they would offer customers cash back in Bitcoin. Today London-listed fintech Mode announced it would be adding more than 40 UK retailers including Boots, Ocado and Homebase to its crypto cashback rewards scheme. However, in comments to City A.M. both Boots and Ocado [...]
GB Group to snap up Acuant in $736m deal November 18, 2021 Aim-listed GB Group has plans to snap up US identity verification company Acuant in a $736m (£547m) deal. Identity software provider GB Group, which has a market cap of £1.7bn, will merge with Acuant to create a “global-leader” in identity verification services and identity fraud prevention. According to GB Group the companies have a combined [...]
Alibaba shares slide five per cent as earnings fall short of forecasts November 18, 2021 Alibaba shares tumbled five per cent after the company’s third quarter financials disappointed investors. In results released today, Chinese tech giant Alibaba revealed that revenue for the three months to October 2021 was $31.1bn (£23bn), up by 29 per cent compared to a year prior, but a far cry from analyst predictions of $32.1bn Net [...]
Exclusive: Homebase among 40+ retailers to offer Bitcoin cash back November 18, 2021 Major UK retailers including Homebase plan to give online shoppers cash back in Bitcoin it has been claimed. Homebase is among more than 40 retailers which will be added to a crypto rewards scheme powered by London-listed fintech Mode, the company announced today. When UK customers make purchases at participating retailers their Mode wallet will [...]
Government faces backlash over HS2 overhaul November 17, 2021 The government is facing criticism from small businesses and rail unions over plans to overhaul the designs for HS2. Transport Secretary Grant Schapps will tomorrow announce changes to the planned HS2 rail routes between major cities in the North and Midlands as part of the government’s £96bn “Integrated Rail Plan.” The rumoured redesign has drawn [...]
Sterling at highest point against the Euro in 21 months November 17, 2021 The pound is at its highest rate against the euro for nearly two years after data revealed UK inflation is at its highest rate for a decade. Interest rates surged to 4.2 per cent in the year to October, more than double the central bank’s target of two percent and the highest level since December [...]