Wembley Park developer loses over £700m December 9, 2024 The company behind the transformation of Wembley Park in London lost more than £700m during its latest financial year, it has been revealed. Quintain has reported a pre-tax loss of £721.7m for 2023, delayed accounts just filed with Companies House show. The loss comes after the business reported a pre-tax profit of £139.7m in 2022. [...]
OakNorth boss says ‘wealth creators’ leaving UK over tax hikes December 9, 2024 The co-founder and chief executive of challenger bank OakNorth has warned that “wealth creators” are fleeing the UK over tax hikes as he accused the new government of falling short on entrepreneurship. Rishi Khosla, whose start-up bank has lent more than £10bn to businesses since launching in 2015, told City AM that “even when you [...]
Inside one fund’s £20,000 bet against Fundsmith December 9, 2024 Mark Ellis, manager of the Nutshell Growth fund, is on the brink of winning £20,000 for his boss in an unusual way. Ellis spoke to City AM following the news that City grandee Michael Spencer had become chair of his firm, Nutshell Asset Management, while upping his stake in the business from 25 per cent [...]
Mike Ashley pledges ‘fresh ideas’ in bid for Boohoo board seat December 8, 2024 Frasers Group chief Mike Ashley has renewed his criticism of Boohoo’s management as he continues his bid for a seat on the struggling fashion retailer’s board. In an open letter, Ashley vowed to turn around the London-listed company, arguing that it was underperforming with “no clear strategy to halt the decline”. “As a board member, [...]
A new Era for London transport? December 7, 2024 Taylor Swift’s Eras Tour was emblematic of the rise of ‘mega-events’ in the capital that are acting as a catalyst for London’s transport infrastructure to upgrade how it manages surges of visitors and passengers on its network, says Jim Webber When Taylor Swift played her record-breaking run of shows in the UK earlier this year, [...]
Revolut, Interactive Investor and Abcam: Britain’s venture capital success stories December 6, 2024 This week, Revolut made headlines when it emerged that early investors in the fintech had been offered an opportunity to cash out with returns of up to 400 times their initial investment. The news arrived in the same week venture capital trusts celebrated their 30th anniversary of backing British startups. Revolut used crowdfunding rather than [...]
Revolut adds ex-Lord Mayor and KPMG veteran to UK board ahead of bank launch December 6, 2024 Revolut has appointed a former Lord Mayor of London and Big Four veteran to its UK board as the fintech giant prepares to launch as a fully-fledged bank in its home market. The London-based banking company added Fiona Fry and Peter Estlin as non-executive directors while it works through the mobilisation period for its UK [...]
Zopa Bank hunts for fintech acquisitions after £68m fundraise December 6, 2024 Zopa Bank is on the hunt for acquisitions as the digital lender looks to step up its challenge to the likes of Revolut, Monzo and Starling ahead of a potential float on the London Stock Exchange. The London-based fintech, which launched as a fully licenced bank in 2020, said on Friday it had raised €82m [...]
Bank of London shakes up UK board in investor-led recovery plan December 5, 2024 The Bank of London has appointed four new directors to its UK bank board and replaced its chair as the troubled fintech ‘unicorn’ looks to recover from a string of setbacks in recent months. The lossmaking start-up, which has faced heavy scrutiny over its governance and finances, said on Thursday that Metro Bank director Catherine [...]
Christopher Ward, Bremont and more celebrate British watchmaking December 5, 2024 A ‘Weekender’ at Time+Tide with the British Watchmakers’ Alliance sold out in one day. The exhibiting brands included domestic stars like Christopher Ward, Bremont, Studio Underd0g, George Bamford’s ‘London’ imprint and Farer. It took place at online publisher Time+Tide’s sleek new bricks and mortar just north of Oxford Circus. And – much like the British Watchmakers [...]