Octopus’ EV leasing business secures £150m to turbocharge electric car take up June 20, 2023 Octopus Electric Vehicles, the energy company’s electric car leasing business, has secured a £150m funding boost, taking its two-year total fundraising total to £650m. The funding will help finance Octopus’ employee benefit scheme, which gives employees at firms who opt in a chance to save around 30-40 per cent by providing the electric vehicle, charger [...]
Karshare journey ends as firm runs out of cash and calls in administrators June 20, 2023 Karshare, the car rental service which raised nearly £10m from a number of wealthy owners, has ceased trading today after running out of cash. It has appointed accountancy firm Azets as an administrator, according to Sky News’ Mark Kleinman. The firm had previously raised close to £10m from a number of wealthy investors, including former [...]
Why arrears will tick up but banks will not be threatened by rising mortgage costs June 20, 2023 Arrears will tick up as interest rates rise but banks will not have to deal with a major credit event, experts at ratings agencies told City AM. Mortgage rates have spiralled in recent weeks as a result of stubbornly high inflation, meaning consumers will have to pay thousands of pounds a month more for their [...]
The SEC’s previous rejections of a Bitcoin spot ETF raise concern over BlackRock filing June 20, 2023 Susie Violet Ward pays close attention to BlackRock's ETF filing, but ponders the wider geopolitical ramifications it may trigger.
EU countries fail to agree energy reforms after coal subsidy clash June 20, 2023 European Union countries have failed to agree on planned new rules for the bloc's power market, after clashing over coal subsidies.
UBS set to pay huge fines over Credit Suisse’s Archegos failings June 20, 2023 UBS is reportedly to set to pay out hundreds of millions of dollars in fines over Credit Suisse’s failings linked to the collapsed hedge fund Archegos Capital. Credit Suisse was one of the banks hardest hit by the collapse of Archegos, with the bank facing losses of around $5.5bn. In contrast, UBS faced a $861m [...]
Hybrid hinders London commercial space as John Lewis slashes head office value by £15.6m June 20, 2023 The John Lewis Partnership (JLP) has slashed the value of its London head office by £15.6m in the latest signal that hybrid working trends continue to hinder the capital’s commercial work space. It comes as last month the retail group revealed that it was ending the lease on its head office in Victoria, London as [...]
Qatar set to strike second big LNG supply deal with China June 20, 2023 Qatar is set to secure its second large gas supply deal with a Chinese state-controlled company in less than a year.
Labour’s bold plan to rescue onshore wind from NIMBYism June 20, 2023 Labour's plans to boost onshore wind have been welcomed by the industry but challenges remain if the UK is to liberate the industry.
Bitcoin and Ethereum continue to trend upward on fresh investor optimism June 20, 2023 The price of Bitcoin is inching its way closer to $27,000 as it trades around the $26.8k level this morning, up three per cent on yesterday.
