London fintech Railsr rescued from collapse in emergency sale March 9, 2023 Embedded banking platform Railsr has been rescued from collapse after it was snapped up by a group of investors led by London-based D Squared Capital. The City-based fintech, which has been on the hunt for a buyer after running into cash troubles in the past year, said today that it had been “purchased and re-capitalised” [...]
Brexit: Retained EU law deadline must be extended to avoid ‘rushed bonfire’ of regulations, think tank warns March 9, 2023 The post Brexit retained EU law deadline should be extended to avoid a “rushed bonfire” of business regulations, a think tank has warned. Government risks missing a “golden opportunity” to boost the quality of the statute books if it does not lengthen the December 2023 deadline for the so-called sunset clause. Most Brussels legislation will [...]
FTSE 100 live: London takes fright as Powell testimony scares off blue chip investors March 9, 2023 London’s main index took another step back on Thursday as a second day of testimony in front of Washington lawmakers by Federal Reserve chair Jerome Powell largely stuck to the hawkish tone of the previous day. The FTSE 100 was last at 7,868.64, down 61.28 points or 0.77 per cent while the FTSE 250 which includes [...]
Liverpool have ‘identified potential investors’, says owner John Henry March 7, 2023 Liverpool owner John Henry says they have “identified potential investors” but that his group’s commitment to the football club “remains stronger than ever”. Henry’s comments appear to open the door to the sale of a minority stake in the Premier League team, having appointed bankers to test the market late last year. But they also [...]
Arm deals blow to UK tech industry by rejecting London listing for a NASDAQ flotation March 3, 2023 Cambridge-based technology firm Arm said it will pursue a US-only stock market listing this year, dealing a blow to the UK markets. The plans from the company, owned by Japanese investment giant SoftBank, come despite heavy lobbying by successive prime ministers and cabinet members. In January, Rishi Sunak reportedly restarted talks with SoftBank to persuade [...]
UK trade data market not working ‘as it should’ as investors pay the cost of lack of competition, says FCA March 2, 2023 A new study from the Financial Conduct Authority (FCA) has found competition in the wholesale data market is “not working as well as it should”, leading to extra costs for investors and savers. Trading data includes information on the prices and volumes of financial products traded and supplied by venues such as stock exchanges. The [...]
Regulators holding back fintech firms in cost of living crunch, industry body says March 2, 2023 Regulatory red tape is stopping fintech firms from boosting financial inclusion and helping consumers through a cost of living crunch, the industry body and EY said today. In a new report, Innovate Finance and big four firm EY said today that City regulators need to quickly expand the UK’s open banking regime and loosen rules [...]
Politicians must step in to protect sport in legal minefield of trans policy – Ed Warner March 2, 2023 The ruck over transgender women participating in female sport is fiercely contested. Opinions are polarised, each side shouting in its own echo chamber. Into my inbox and into the debate drops an email from a PR agent containing a legal opinion that is a reminder that this issue is nuanced. It reinforces my own view [...]
Inmarsat’s £5.4bn takeover given provisional thumbs up by UK competition agency March 1, 2023 The £5.4 billion takeover of UK satellite giant Inmarsat by US firm Viasat has been given the provisional green light by Britain’s competition watchdog as it said the merged firm would be “challenged” in the rapidly expanding sector. The Competition and Markets Authority (CMA) said that while the companies compete closely in the aviation sector [...]
Renters’ protection on the cards as competition watchdog launches probe into housing malpractice and land ‘banking’ February 28, 2023 Housing tenants could be given extra protections and housebuilders forced to change their practices, the competition watchdog has warned. The Competition and Markets Authority (CMA) has announced a probe into the building and rental sectors, saying it would “need to find” any competition issues that might be holding back house building in the UK. “The [...]