THG and SoftBank scrap options for $1.6bn investment in e-commerce emporium July 26, 2022 E-commerce giant THG has cancelled its partnership with a division of SoftBank, citing “global macroeconomic conditions.” A call option with the Japanese conglomerate to pump an extra $1.6bn into technology unit THG Ingenuity has been scrapped and will “cease to be capable” of being exercised. An option and collaboration agreement was terminated by mutual agreement [...]
Monzo ‘repeatedly failed customers’ by not sharing data, competition watchdog says July 26, 2022 The competition watchdog has accused Monzo of “repeatedly” failing its customers today after it found the digital lender had failed to share transaction data with people closing down their accounts.
4,500 TSB staff to be given £1,000 payment to weather cost-of-living crisis July 25, 2022 Around 4,500 staff at TSB are to be given a £1,000 payment after the high street lender became the latest firm to announce payouts to help employees weather the cost-of-living crisis. The payment will be made to all staff at the bank earning £35,000 or less and will be made in two stages – one [...]
Reform London’s capital markets or jeopardise global status, review chief warns July 25, 2022 London is at risk of losing its status as a premier global stock market if it does not act fast to reform rules, the author of a review into London’s capital markets has warned.
Naked Wines’ CFO departs role immediately after wine seller’s gloomy sales forecast July 25, 2022 Naked Wines has said its chief financial officer has left his position immediately by mutual agreement, following a bleak sales forecast from the online wine seller. The London-listed company said Shawn Tabak, who held the position of director as well as the top finance job, departed his roles last week on 22 July. Former CFO [...]
London-based Shares bags $40m to capitalise on retail trading boom July 25, 2022 London investment app Shares revealed it had bagged a $40m funding round today as it aims to tap into a boom in retail trading brought on by the pandemic.
Jitters over global recession send FTSE 100-listed industrial giants lower July 21, 2022 Jitters over a slowdown in the global economy pulled industrial stocks lower today, taming gains on London’s FTSE 100, but Frasers group boosts mid-cap index. The capital’s premier index edged 0.09 per cent higher to 7,270.51 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
AJ Bell customers surge despite slide in assets under administration July 21, 2022 Retail investment platform AJ Bell reported a surge in customer numbers in the past quarter but said that assets under administration dipped five per cent as volatile markets rocked investors’ bets.
Funding platforms hail Austin Review potential ‘watershed moment’ for retail investors July 20, 2022 Investment platforms have hailed the Austin Review a potential “watershed” moment for retail investors today as ministers and regulators look set to widen access to the UK’s capital markets.
RPC posts record revenues after sales surge 10 per cent year on year July 20, 2022 City of London law firm RPC today posted record revenues of £149.4m across its global operations, after the firm’s sales jumped 10 per cent on the previous year. The commercial law firm’s record results mark a 36 per cent increase in RPC’s revenues since the financial year 2020 – on the back of surging demand [...]