Nigel Rich appointed new Foxtons Chairman following investor revolt September 17, 2021 Foxtons Group, London’s leading estate agency, has announced the appointment of Nigel Rich CBE as its new Chairman. Mr Rich will replace the group’s Chairman of eight years, Ian Barlow who has been under heavy fire from investors in recent month over company salaries and dividend payments. Nigel Rich will be paid £150,000 per annum, [...]
Crypto.com enters esports deal with Fnatic September 16, 2021 London-based esports brand ‘Fnatic’ has announced a multi-year partnership deal with the Crypto.com exchange worth $15m (£10.9m). The five-year partnership will open up cryptocurrency payment options for Fnatic fans and see the esports company launch digital products, including NFTs. The Crypto.com logo will be featured on Fnatic jerseys. Fnatic CEO, Sam Mathews, called the partnership “ground-breaking”. “Fnatic [...]
Polychain Capital leads $230m investment round in Avalanche September 16, 2021 Polychain and Three Arrows Capital have led a $230m investment round in the Avalanche network, buying up the company’s native crypto currency AVAX. R/Crypto Fund, Dragonfly and CMS Holdings were also among investors who bet big on Avalanche, an ultra fast, eco-friendly blockchain protocol which supports a growing ecosystem of DeFi projects. Proceeds from the sale [...]
Ex-Goldman Sachs Dogecoin millionaire joins UK healthcare company September 16, 2021 A Goldman Sachs manager who quit after making millions from the meme-based, crypto currency Dogecoin has reemerged as the Executive Chairman of a UK healthcare company. Aziz McMahon will join SpectrumX as Executive Chairman, focussing on investor relations, corporate governance, and the formulation of the company’s new ESG policy. McMahon was formerly the head of [...]
FCA probes three traders for market abuse around time of Brexit vote September 16, 2021 The Financial Conduct Authority has issued formal warnings to three traders from an unnamed bank who carried out market abuse around the time of the 2016 Brexit vote. The FCA accused the individuals of ‘spoofing,’ a practice where traders place orders on financial assets they do not intend to complete in order to manipulate markets. [...]
Co-op sales fall 3.2 per cent amid food shortages September 16, 2021 The Co-op has warned that full year profit could be hampered by ongoing supply chain issues after sales fell by 3.2 per cent in H1 2021. Group revenue stood at £5.6bn for the first half of the year, up 4.2 per cent compared to pre-pandemic levels, but a cut below the heights seen last year [...]
Bitcoin protests break out in El Salvador September 16, 2021 Protests in El Salvador turned violent as thousands of demonstrators expressed their anger about Bitcoin becoming legal tender. Yesterday, anti-government marchers took to the streets bearing signs which read “no to dictatorship” and “we were defrauded by Bitcoin”. Bitcoin ATMs, installed ahead of the crypto currency becoming legal tender earlier this month, were burned by [...]
Tobacco firm Philip Morris secures £1bn takeover of inhaler maker Vectura September 16, 2021 Philip Morris, the maker of the world’s most popular cigarette brand Malboro, has sealed its £1bn takeover of asthma inhaler maker Vectura with a bumper share purchase. In August, the Vectura Directors supported a takeover bid from Philip Morris International to purchase Vectura at a price of 165 pence per share after a fierce bidding [...]
Rishi Sunak ‘thrilled’ by £300m DP World investment September 16, 2021 DP World, a Dubai based supply chain logistics company, has announced it will expand a London port to increase supply chain resilience. The £300m investment builds on the £2bn in funds that DP World has funnelled into Britain over the last decade and will add a fourth berth, a parking space for a ship, to [...]
18.6m UK adults trust financial advice shared on social media, study finds September 16, 2021 Amid concerns about Kim Kardashian and so called FinTok influencers new research has found that 18.6m UK adults trust financial advice shared on social media platforms. A survey conducted by Skipton Building Society revealed that just two in five respondents would not trust social media stars when it comes to financial management. Young people were [...]
