World’s first Islamic international digital bank to launch in UK July 14, 2021 The world’s first Islamic international digital bank will be launched in the UK, Boubyan Bank Group announced today. Nomo, part of the Boubyan Bank Group, will offer bank accounts and financial management services for clients in Kuwait and the Middle East region. Read more: Watchdog warns Monzo and NatWest over banking transaction history breaches Nomo [...]
PureGym mulling IPO as gym usage rebounds July 14, 2021 PureGym is considering reviving its plans for an initial public offering, as gyms across the UK rebound. In an update to bondholders earlier today, seen by City A.M., the no-frills gym chain said it was comparing its options for raising equity including, potentially, in the public markets. It is understood that the fitness chain is still [...]
US issues warning over doing business in China’s Xinjiang province July 14, 2021 The US has issued a warning to companies doing business in China’s Xinjiang province. The Xinjiang Supply Chain Business Advisory said that businesses and firms who still have supply chains and investment ties in the Chinese region ‘could run a high risk of violating US law.’ Washington cited evidence of genocide and other human rights [...]
Lufthansa aiming for 60-70 per cent passenger capacity by the end of the year July 14, 2021 Lufthansa, the German airline giant, has said that it is aiming for around 60-70 per cent of pre-pandemic passenger numbers by the end of the year. It is currently operating at around 40 per cent of pre-pandemic levels. Jens Fehlinger, a manager at Lufthansa, suggested that things are beginning to look up for the airline [...]
Johnson confirms football banning orders to be given to online racial abusers July 14, 2021 People who racially abuse footballers online will be banned from attending matches, Boris Johnson has confirmed. The Prime Minister also said social media firms that do not get racism off their platforms will face fines amounting to 10 per cent of their global revenues as a part of the future Online Harms Bill. Three black [...]
Questions pile up for Gupta after ‘deeply discourteous’ inquiry snub July 14, 2021 MPs on the parliamentary business committee have written to steel tycoon Sanjeev Gupta criticising his “deeply discourteous” decision not to appear before an enquiry into embattled Liberty Steel. They also questioned the “unusual extent to which you personally control the finances of Liberty Steeland its associated companies”. Gupta is the chief executive and chairman of [...]
JP Morgan to lift pandemic office capacity caps in London July 14, 2021 JP Morgan will soon lift its 50 per cent capacity cap for its Canary Wharf office as pandemic restrictions are lifted next week. Employees will still be required to wear masks in common areas and complete health checks, as reported by Financial News. The US investment bank’s return-to-office task force said in an internal memo: [...]
Sharpest inflation increase since 2008 fails to drive Bitcoin demand July 14, 2021 The crypto markets are down again today, with both Bitcoin and Ethereum prices falling to levels not seen since late June.
Tory MPs call for rethink of party’s stance on taking the knee July 14, 2021 Senior Tory backbench MPs have called for a change of attitude from their party over taking the knee in the wake of a racism row with English footballers. Former Brexit minister Steve Baker said the fallout from racist abuse received by three black English players should be a “wake-up call” to the Tory party over [...]
French tycoons plot media buying spree with €250m blank-cheque firm July 14, 2021 Two of France’s best-known business figures have teamed up to launch a new blank-cheque firm that will target deals in the media and entertainment industry. The holding companies of billionaire Francois Pinault’s family and banker Matthieu Pigasse today announced the launch of I2PO, a special purpose acquisition company (Spac) that will list in Paris. The [...]
