Lendinvest inches closer to profit as fintech eyes housebuilding boost December 9, 2024 Lendinvest is nearing a return to profitability as the property fintech eyes a boost from the new government’s housebuilding plans. The London-listed firm reported a pre-tax loss of £1.7m for the six months to 30 September, 2024, compared to a £15.7m loss during the same period last year. Lendinvest’s bottom line was helped by a [...]
WPP could lose crown as largest ad agency amid Omnicom and Interpublic merger December 9, 2024 FTSE 100 giant WPP is under threat of losing its spot as the largest advertising company in the world for the first time in decades as American rivals Omnicom and Interpublic consider a merger. Over the weekend, news emerged that Omnicom and Interpublic are discussing terms of a $30bn (£23.6bn) merger. This could catapult the [...]
Former HSBC banker to lead Australian lender ANZ December 9, 2024 Australian bank ANZ has appointed former HSBC banker Nuno Matos as its next chief executive after he missed out on the same position at the London-based lender this summer. Matos is set to join the Melbourne-based bank in July 2025 and replace Shayne Elliott, who is retiring from ANZ after nine years at the helm. [...]
Quarter of small businesses concerned they cannot weather financial shocks December 9, 2024 HSBC's research found small and medium enterprises (SMEs) are increasingly being held back by business and borrowing costs.
OakNorth boss says ‘wealth creators’ leaving UK over tax hikes December 9, 2024 The co-founder and chief executive of challenger bank OakNorth has warned that “wealth creators” are fleeing the UK over tax hikes as he accused the new government of falling short on entrepreneurship. Rishi Khosla, whose start-up bank has lent more than £10bn to businesses since launching in 2015, told City AM that “even when you [...]
Inside one fund’s £20,000 bet against Fundsmith December 9, 2024 Mark Ellis, manager of the Nutshell Growth fund, is on the brink of winning £20,000 for his boss in an unusual way. Ellis spoke to City AM following the news that City grandee Michael Spencer had become chair of his firm, Nutshell Asset Management, while upping his stake in the business from 25 per cent [...]
Job vacancies collapse as Budget tax raid puts firms off hiring, survey shows December 9, 2024 The latest report on jobs from KPMG and the REC showed an "accelerated decline" in the number of people placed in permanent roles by recruiters.
Business confidence drops at fastest pace for over three years December 9, 2024 The optimism index dropped 5.8 points to 93.49 in November, which was the largest monthly fall since August 2021.
Cabinet minister pledges to make government more ‘start up’ December 8, 2024 A cabinet minister is set to pledge that the government will become “more like a start up” ahead of the launch of a £100m fund targeting public service reform. Pat McFadden will call for Whitehall to adopt a ‘test and learn culture’, stating: “If we keep governing as usual, we are not going to achieve [...]
Investors want to see ‘ambition’ from UK on climate change, Pinchbeck says December 8, 2024 Private investors are keen to see “ambition” from the UK government on climate change, the head of an influential emissions body has warned politicians. Emma Pinchbeck, chief executive of the Climate Change Committee, which advises the government on emissions targets, stressed that the private sector “likes a bit of ambition”. The former Energy UK CEO [...]
