‘New footing’: Eurogroup president pledges closer ties with City of London as Brexit tensions ease September 4, 2024 The president of the EU’s council of financial ministers pledged closer ties with the City of London yesterday as he hailed a “new footing” in the relationship between Keir Starmer’s government and the bloc.
Pinewood Technologies strikes deal with AI firm to bolster US expansion September 4, 2024 Pinewood Technologies, formerly known as Pendragon, has entered into an advanced subscription agreement with Seez, known for its automotive AI tech, it announced today. Under the terms of the agreement, Pinewood Technologies, which is listed on the London Stock Exchange, said it had agreed to invest $4.2m (£3.2m) as part of a minority investment round. The [...]
Apple has ‘significant concerns’ over CMA probe into its Safari mobile browser September 4, 2024 Apple said it has “significant concerns” with the UK competition watchdog investigation into the supply of mobile browsers. In 2022, the Competition and Markets Authority (CMA) launched a probe into the dominance of Apple’s Safari browser and Google’s Chrome browser, along with the possibility that Apple may be restricting the cloud gaming market through its [...]
Chapel Down: Half-year profit almost wiped out as wine maker blames ‘one-off factors’ September 4, 2024 English wine producer Chapel Down has blamed ‘one-off factors’ for its pre-tax profit almost being wiped out during the first half of its financial year. The Kent-headquartered company, which is listed on AIM, said the fall from £2.4m to £40,000 in the in the six months ended 30 June was due to a ‘difficult macroeconomic environment’, [...]
Direct Line returns to profit but customers flee after firm hikes insurance prices September 4, 2024 Direct Line's operating profit undershot expectations for the first half of 2024 as the firm shed more than a quarter of a million motor insurance customers following price hikes.
Columbia Threadneedle property trust bought out for £673m despite management complaints September 4, 2024 Columbia Threadneedle-run Balanced Commercial Property Trust has reached a deal to be sold for £673.5m, despite objections from its investment manager. The trust has been managed by Columbia Threadneedle since it was created in 2005, and began a strategic review this April after shareholders told it there was “need for change from the status quo”. [...]
UK investors exit domestic funds in droves after global market rout September 4, 2024 The hope of a rally in UK investment was thwarted last month as the number of UK investors selling out of domestic equity funds doubled due to the downturn in global markets. UK investors pulled £510m from British-focused equity funds in August, more than double the figure in July when outflows reached their lowest level [...]
Accsys: Building materials firm hails US launch as revenue shows signs of recovery September 4, 2024 Sustainable building materials maker Accsys has officially launched its first operation in the United States in a move it hopes will help it to deliver its “ambitious” production targets, it said today. The London-listed firm, which is headquartered in the city, said its US arm was now up and running, with its newly constructed plant [...]
Surge in ombudsman complaints deepens row over UK’s fraud refund scheme September 4, 2024 Fraud-related complaints to the UK's financial ombudsman have hit their highest level since at least early 2018, adding pressure on payment firms contesting a scheme set to force them to reimburse scam victims from next month.
Wall Street carnage continues as Nvidia leads US tech selloff September 4, 2024 A wave of panic selling hit Wall Street on Tuesday, with the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all suffering their steepest daily percentage declines since early August. The carnage was widespread, with nine of the 11 sectors within the S&P 500 sinking into the red, led by sharp declines in technology, [...]
