Plus500 reports ‘positive momentum’ despite customer growth slowdown July 12, 2021 Online trading platform Plus500 today reported positive momentum in its half year trading update, following a bumper 2020. The global fintech group, operating a trading platform for contracts for difference (CFDs), noted a “very strong period of customer acquisition” up to June this year. This followed an “unprecedented” performance in 2020, driven by the pandemic [...]
Young’s to sell most tenanted pubs for £53m, eyeing a freehold future July 12, 2021 Brewery Young’s has agreed to sell 56 of its 63 pubs in its Ram Pub Company estate for £53m, to add some ‘firepower’ to existing pub upgrades ahead of no restrictions. The brewery has made “attractive returns” investing and operating managed pubs and hotels, its boss said, which it will use the newly secured funds [...]
Tate & Lyle confirms break-up with £1.2bn sweetener division sale July 12, 2021 Historic foodstuffs brand Tate & Lyle will be broken up, it confirmed this morning, as it sells off the controlling stake in its sweeteners division for £1.2bn. American private equity firm KPS Capital Partners will take a 50 per cent stake in Tate & Lyle’s “Primary Products” business, which makes commodities like artificial sweeteners and industrial [...]
Romanian flier Blue Air set for possible £500m London listing July 12, 2021 Romanian airline Blue Air will reportedly list on the London stock market in the autumn with a valuation that could be worth up to £500m. The low-cost carrier, which the Times said could make £250m from the float, is looking to mimic the success of Hungarian flier Wizz Air. At the moment, the airline has [...]
Space investor Seraphim’s London IPO skyrockets, raising lofty £180m July 12, 2021 Seraphim Space Investment Trust rallied £178.4m on Friday as people piled into the space tech investor’s initial public offering. The lofty IPO faired well on the London market which has recently been driven by tech companies, particularly as it floated in the shadow of tech firm £8bn Wise which went public just days before. “Space [...]
Virgin Galactic’s shares rocket as Branson completes first fully crewed space flight July 12, 2021 Virgin Galactic’s shares jumped this morning after it successfully completed its first fully crewed space flight yesterday, with billionaire founder Sir Richard Branson on board. While Branson didn’t make it to the moon, Virgin Galactic’s shares might. The New Mexico-based company’s stock jumped as much as 22 per cent premarket this morning. Virgin Galactic’s shares [...]
Prime Minister condemns racist abuse of three young lions July 12, 2021 Boris Johnson has condemned the racist abuse of England players on social media following the European Championship final defeat to Italy last night, saying those responsible should be ashamed of themselves. Marcus Rashford, Jadon Sancho and Bukayo Saka all failed from the spot and swiftly their social media pages were flooded with racist abuse. The [...]
Tide banking valued at $650m, after securing $100m in funding July 12, 2021 Tide Banking, the UK fintech startup, has raised over $100m in Series C funding, bringing its valuation to over $650m (£468m), the company announced today. The four-year-old startup has raised a total of $200m to date including the latest funding. The injection of cash will allow the company to grow its market share, and expand [...]
Admiral ups first half guidance after motor claims windfall July 12, 2021 Insurer Admiral this morning said that it was on track to make a higher than expected profit in the first half of 2021 after a boost in profit from its motor injury claims division. As a result, the firm said that it would pay out an interim dividend of between 110p and 125p per share. [...]
Heathrow passenger numbers remain on the floor as Europe recovers July 12, 2021 The number of passengers passing through Heathrow Airport remains down almost 90 per cent on pre-pandemic levels despite the recent easing of travel restrictions. Just 957,000 people used the airport in June, prompting executives to warn that it was lagging behind European rivals such as Charles de Gaulle. Over the last 12 months, passenger numbers [...]
