Six million SMEs risk ‘being forgotten’ in net zero transition, banks warn July 22, 2021 The UK’s six million small and medium-sized enterprises (SMEs) could be “forgotten or left behind” in the country’s net zero transition, warns Bankers for Net Zero in a report. The initiative – supported by Barclays, Handelsbanken, Triodos, Ecology Building Society, ClearBank and Tide – argues that measures need to be implemented to avoid leaving SMEs unprepared [...]
City Moves: Who’s switching jobs in the Square Mile this week? July 21, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Ex-UBS and Canary Wharf Group chiefs join construction-tech firm British construction technology company Modulous has bolstered its London workforce with former Canary Wharf and UBS leads this week. Former director of the Canary Wharf Group Chris [...]
Stripe: Fintech needs to work in tandem with traditional banks, not see them as the enemy July 21, 2021 Necessity may be the mother of invention, but it has a second child in collaboration. When it comes to crunch moments and serious challenges, the human tendency is to put differences aside and work together to find solutions. Take the vaccine rollout. The whole program is an enormous collaboration of academic institutions, public bodies, and [...]
Barclays names new investment bank heads July 20, 2021 Barclays has promoted JF Astier and John Miller to lead its investment banking business, as part of a new management team to oversee the business that mainly advises on big corporate deals such as mergers and stock market listings. The bank said the team, which will also include the heads of divisions such as human resources, [...]
Crypto exchange outflows increase as scaling solutions grow July 20, 2021 CryptoCompare data shows the price of Bitcoin (BTC) has dropped below the $30,000 support level in a downward move that broke a support level that had been holding for weeks.
S4 Capital plans £321m expansion as business is powered by post-pandemic rebound July 19, 2021 Sir Martin Sorrell’s advertising agency is booming, driven by the global economy post-pandemic rebound and transformations in digital marketing, S4 Capital said this morning. S4 Capital said it has secured a debt refinancing which will fund future expansion. With a continued rise in expectations, the company plans to continue its expansion in the 12 months [...]
Surging inflation to add £10bn to government’s debt burden July 19, 2021 Surging inflation is likely to add £10bn to the government’s debt burden, putting further pressure on the UK’s public finances. Around a quarter of the government’s stock of debt is linked to the retail price index, meaning the Treasury needs to increase interest payments to savers if prices rise. Read more: UK inflation hits 2.5 [...]
Man City owner raises almost half a billion to fund further expansion – reports July 16, 2021 City Football Group, the owner of Manchester City and a host of other clubs across the world, has raised almost half a billion-worth of debt capital according to reports this morning. The Group has raised $650m (£470m) to finance international ambitions, according to sources who spoke to the Financial Times. The seven-year package has been [...]
UK says Brexit divorce bill is £37.3bn, more than £3bn lower than EU’s figure July 15, 2021 The Treasury today gave an estimate of the UK’s Brexit divorce bill that is £3bn lower than the European Union’s latest figure. Chief Secretary to the Treasury Steve Barclay updated MPs on Thursday to say that the current value of the financial settlement is £37.3bn. This is significantly lower than the updated figure of 47.5bn [...]
Gigafactory firm Britishvolt mulling London listing July 15, 2021 The firm behind the UK’s first battery gigafactory for electric cars has said it is now considering a London listing by the end of next year’s second quarter. In an interview with Bloomberg, Orral Nadjari, the chief executive of Britishvolt, said that the recent overhaul of London listing rules was behind the decision. Britishvolt had [...]