UK fintech Starling’s profit tumbles as regulatory failings linger May 28, 2025 UK fintech veteran Starling recorded a drop in annual profit for the financial year as it battled with a more competitive fintech landscape and mounting costs. The neobank recorded £223m in pre-tax profit, which was down from £301m the previous year. This came as operating costs ramped up to £403m, from £332m, helping offset modest [...]
Pets at Home: Demand for vet services soars May 28, 2025 Pets at Home has reported flat year-on-year revenue, with a starkly diverging performance in retail sales and veterinary services. Underlying profit before tax in retail fell by 16.6 per cent year on year to £72.9m, while underlying profit before tax from the company’s vet arm grew by 23.3 per cent year on year to £75.9m [...]
Oxford Street rebounds to pre-pandemic occupancy as firms bet on shops May 27, 2025 Shop vacancies on Oxford Street have fallen below one per cent for the first time since the pandemic as brands compete for best-in-class retail space. Overall shop vacancies on Oxford Street fell to 0.5 per cent in the first quarter of the year, the first time the figure has fallen below one per cent since [...]
London vs New York: Who will win the fintech IPO war? May 24, 2025 A battle with New York awaits as Rachel Reeves sets her eyes on London fintech IPOs. The Chancellor has courted top fintech darlings in her attempt to boost listings on the London Stock Exchange (LSE) as a fleet of firms are flirting with floating in the near future. Monzo is reportedly consulting with investment bankers on [...]
Motor finance: Is Close Brothers heading for a car crash? May 22, 2025 Costs are mounting, loan books are shrinking, an existential motor finance ruling looms – is Close Brothers heading for disaster? It’s been a bruising 12 months for the lender, with its stock down over 25 per cent. Recent rallies have helped it claw back gains of over 65 per cent in the last six months [...]
Close Brothers shares drop as costs rise from motor finance threat May 21, 2025 Close Brothers said fees and expenses were still at an “elevated level” in a third-quarter update on Wednesday as motor finance troubles continued. The group’s net expenses hit £13.9m for the period, compared to £11.6m for the third-quarter in 2024. The lender said it continued to experience heightened “professional fees and expenses” following the Financial [...]
Firms must be at heart of red tape overhaul, CBI boss says May 21, 2025 The government’s efforts to slash red tape and regulation in a bid to boost growth are doomed to fail if they do not consult the very firms that “live and breathe” the UK’s regulatory barriers, according to the boss of Britain’s largest lobby group. In a speech at Singer Capital Markets, Rupert Soames, president of [...]
What’s wrong with the UK ticketing industry? May 20, 2025 It took just minutes for Oasis tickets to disappear. But, in the rush to secure a seat for one of Britain’s most anticipated reunion tours, thousands of fans were left empty handed, frustrated, and in too many cases – swindled. The chaos that followed didn’t just expose demand for a beloved band, but revealed the [...]
Pragmatism or surrender? Starmer’s EU deal explained. May 19, 2025 Prime Minister Keir Starmer has declared that “Britain is back on the world stage” as an agreement on the post-Brexit “reset” of relations with the EU was unveiled at a summit in London. There are provisions for key areas like food standards, energy, youth mobility, security, and steel with ministers claiming that the new deals [...]
KKR lashes out against PHP in Assura bidding war May 19, 2025 Private equity giant KKR has lashed out against rival PHP in its bidding war for GP landlord Assura, arguing that a takeover by its competitor would risk scrutiny from the regulator. In a stock exchange notice this morning, KKR argued that its offer for Assura was “superior” as opposed to the PHP offer which comes [...]