Cop26 sponsor NatWest named and shamed for links to Arctic oil and gas drillers September 27, 2021 NatWest is under scrutiny from campaigners due to it financing fossil fuel developers while sponsoring the Cop26 climate summit NatWest is the banking sponsor of the Glasgow conference — where countries will pledge to reduce carbon emissions as part of a wideranging global effort — but was still providing underwriting and loans to energy companies [...]
Workspace firm IWG considering multibillion pound break-up September 26, 2021 Serviced offices firm IWG is considering splitting into several different companies. Mark Dixon, founder of the Regus and Spaces operator, is examining different options to bring value to shareholders, Sky News has reported. The founder is reportedly looking at options including a US listing for Worka, an app that helps users compare and book workspaces [...]
Drill, baby, drill: Arctic set for £230bn oil and gas bonanza with JPMorgan, Barclays and Citi piling in September 23, 2021 Oil and gas companies are set to ramp up production in the Arctic by 20 per cent in the next five years, according to a new report shared with City A.M. this morning. The main Arctic expansionists – Gazprom, Total and ConocoPhillips – are backed by hundreds of billions of pounds from dozens of City [...]
MarketFinance raises £280m and enrols as UK Covid recovery lender September 21, 2021 Business lender MarketFinance is gearing up to provide loans to UK businesses as they recover and grow post-pandemic through the government’s Recovery Loan Scheme (RLS), after raising £280m debt and equity in its latest fundraising round. The British fintech, which hit profitability in March, was one of the first fintechs after Funding Circle to be [...]
There is hope after furlough September 16, 2021 The word ‘furlough’ is one we’ve all been acquainted with from the start of the Covid-19 pandemic. In England, at the beginning of lockdown, about 8m people were put on the government-backed job retention scheme in order to protect millions from unemployment. Now recent government figures show 1.55m people were on the scheme at the [...]
Argo Blockchain launches IPO with sale of US shares September 14, 2021 Argo Blockchain, the only London listed crypto mining company, has launched an Initial Public Offering as it awaits approval to list on the Nasdaq exchange. Today, Argo said it had commenced the sale of 7,500,000 American Despositary Shares, equal to 75,000,000 ordinary shares. The last closing price of Argo’s ordinary shares on the London Stock [...]
FTSE 100 rebounds as easyJet nosedives September 13, 2021 London’s FTSE 100 index has climbed by 0.64 per cent today, up 45 points higher than the previous close at 7,074.07, after being boosted by financial stocks. Banking giants saw strong gains today with Lloyd’s Group up 2.6 per cent, Standard Chartered Bank lifted by 2.4 per cent and Barclays PLC climbing 2.2 per cent. Meanwhile, investment [...]
Wise: Banks will face death by a thousand fintechs if they don’t collaborate with new innovations September 9, 2021 The thought of “coming together” and “partnerships” have historically not conjured up images of banking, yet, today, the banking sector is very familiar with these terms. Banks face fierce competition competition from countless specialist digital fintechs, with the ability to adapt and innovate quickly to solve customers’ specific problems. Efficiency is at the core of [...]
Government wins vote on National Insurance hike September 8, 2021 The Prime Minister has won a vote to raise National Insurance for workers and employers to fund NHS and social care costs. The government won the vote by 319 to 248 votes after Boris Johnson said the 1.25 percentage point increase would raise £12bn a year. Opposition MPs criticised the government for breaking a manifesto [...]
Lloyds sued by customers sold mortgages linked to house prices September 6, 2021 Lloyds Banking Group is being sued by 150 homeowners who were sold mortgages tied to house price appreciation. The case has been brought against the Bank of Scotland, now part of Lloyds, in the High Court. It pertains to shared appreciation mortgages which were sold to thousands of customers in the late 1990s, the product [...]