By: William Turvill

I write about M&A, deals, IPOs, private equity, asset management, media and a few other areas for City A.M. I also write news features and am always interested in interviewing and profiling high-profile business figures. I previously worked for Press Gazette and Mail Online.

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Fintech growth and approaching “Uber moment” will see 30 per cent staff reduction in a decade across banks in Europe and United States, Citigroup report predicts

March 31, 2016

The banking industry in Europe and the US is approaching an "automation tipping point" – or "Uber moment" – according to a new report by Citigroup. In a "digital disruption" note, Citi said the rise of fintech companies will mean these traditional banks reduce employee numbers by 30 per cent in the next decade. Read more: Fintech revolution? Banks will [...]
Panmure Gordon reports 2015 losses, but stockbroker is positive for 2016 while wary of “the dangers that lie ahead”

March 31, 2016

After a "disappointing" year in which its share price more than halved, Panmure Gordon is looking for the positives. Reporting its 2015 results today, the stockbroker said 2016 has started positively and profitably. But it is "under no illusion as to the potency of the dangers that lie ahead". The figures Panmure posted a £16.7m loss in 2015, from a £1.5m [...]
EU referendum could explain “exodus from investment funds”, says analyst as new figures show February outflows of £399m

March 30, 2016

The EU referendum vote has been blamed for an "exodus from investment funds". New figures from the Investment Association show the industry saw net outflows of £399m from UK authorised investment funds last month. Laith Khalaf, a senior analyst at Hargreaves Lansdown, said the figures came as a "surprise". He added: "One possible reason behind the poor numbers is [...]
Independent Oil and Gas share price rises after company announces £13.6m of financing to fund acquisitions spending spree

March 30, 2016

Independent Oil and Gas (IOG) shares rose sharply today after the company announced it had secured £13.6m for an acquisition spending spree. With financing from London Oil and Gas (LOG), Aim-listed oil group is targeting near-term oil and gas developments and low-risk production assets in the North Sea. The company said it would also consider opportunities outside [...]
UK’s Isa options are too risky for investors, according to research exposing “major mismatch”

March 30, 2016

The UK's Isa portfolios are too risky for the appetites of investors, new research has found. Some 70 per cent of the nation's investment Isa portfolios are in sectors with top risk ratings, according to online investment platform Rplan.co.uk. And this has created a "major mismatch" between Isas and investors. Read more: Do you really understand [...]
Rupert Murdoch’s Times newspapers to drop breaking news on website for “edition-based model”

March 30, 2016

The Times is dropping its focus on online breaking news for an "edition-based model". A new website, merging Times and Sunday Times content, has been launched today. Publisher News UK said the newspapers will produce one "core" edition per day, with updates to the edition published on the website and apps at 9am, noon and 5pm. Updates will be [...]
Global IPO volume plunges to lowest level since 2009, with technology industry leading the slump, down 77 per cent year on year

March 30, 2016

The global initial public offering (IPO) market has plunged to depths not seen since 2009. IPO volume for the first three months of this year, to 29 March, stands at $13.2bn (£9.2bn). This is down 67 per cent on the same period last year. This year has also seen the number of deals fall 38 per cent [...]
Tinder swipes right to acquire contact management startup Humin and “accelerate our product roadmap”

March 30, 2016

Dating app Tinder has swiped right on Humin, agreeing a takeover deal for the contact management startup. Tinder's founder and chief executive Sean Rad said the company and its apps would be used to "accelerate our product roadmap". Like Tinder, Humin was founded in 2012. It has two contact management apps – Humin Contacts and Knock Knock. [...]
Oh, GoD: Former cabinet secretary Lord Gus O’Donnell doubts UK could negotiate Brexit within two-year time limit

March 30, 2016

The UK would struggle to negotiate its exit from the European Union within the two-year time limit, according to a former cabinet secretary. A Brexit win in June's referendum would lead to a "very complex process", Lord Gus O'Donnell (known to his mates as "God") has said. And he described the prospect of winning support from all [...]
Nostrum Oil & Gas reports 54 per cent dip in earnings despite cost cutting in “challenging” 2015

March 30, 2016

Nostrum Oil & Gas has reported its a 54 per cent dip in earnings for 2015 following a “challenging” year. The figures The company has reported earnings before interest, taxation, depreciation and amortisation (Ebitda) of $229m (£159m) for the year to 31 December 2015. This is down 54 per cent from $495m in 2014. The company reported [...]

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By: William Turvill

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