London fintech Monese says it needs more cash to survive after Pockit takeover September 9, 2025 Monese has warned it will need fresh investment if it is to survive for another year as the London fintech embarks on a change in strategy to put itself on a firmer financial footing. The current account and money transfer business, which last year was acquired by fintech firm Pocket in a rescue deal, said [...]
Tube strikes: Sadiq Khan urged to compensate hospitality sector September 9, 2025 Mayor of London Sadiq Khan has been told to ease the financial burden on the hospitality sector as firms face the crunch of tube strikes. Khan, who was criticised for his absence as the strikes got underway, has been urged to give the sector a “rent and rate holiday” so they can weather the strikes. [...]
Nvidia and OpenAI to join Trump in UK as questions mount over UK-US tech partnership September 9, 2025 Some of the world’s most powerful tech chiefs are expected to join US President Donald Trump on his state visit to the UK next week, raising expectations of new tie-ups and a reboot for the US-UK tech partnership. Nvidia’s Jensen Huang and OpenAI’s Sam Altman will travel with Trump when he arrives on Wednesday, and [...]
Carlyle announce deal with Formula 1 team Red Bull September 9, 2025 Global investment firm Carlyle has announced a multi-year strategic partnership with Formula 1 team Red Bull in a first-of-its-kind deal. The Nasdaq Carlyle Group, with a market cap of $23bn, will use its partnership with the Formula 1 team title sponsored by Oracle to “open new avenues” for engagement, global connectivity and technology. And their [...]
Pret A Manger writes down value by a third amid £525m losses September 9, 2025 Pret A Manger has written off a third of the value it was handed after its 2018 acquisition by European investment group JAB as an uncertain UK economy puts pressure on the sandwich chain. The group made a £553m non-cash impairment to the £912m goodwill on its balance sheet created as part of the 2018 [...]
HSBC lands £333m in dividends from takeover of Silicon Valley Bank UK September 9, 2025 HSBC Innovation Banking has handed a £333m in dividends to its parent company amid a surge in profitability after completing its first full year as a subsidiary of HSBC Group. The lender, which had been the UK subsidiary of Silicon Valley Bank until the latter’s demise in 2023, paid HSBC a special dividend of £198m [...]
Losses balloon at Ryder Cup host Celtic Manor Resort September 9, 2025 Losses have ballooned at the company behind the former Ryder Cup host Celtic Manor Resort despite its revenue rising during its latest financial year, it has been revealed. The five-star golf, spa and hotel destination, which is located near Newport in Wales, has posted pre-tax losses of £11.3m for 2024, according to new accounts filed [...]
City veteran Lord Rose: UK is ‘at the edge of a crisis’ September 9, 2025 Lord Stuart Rose has launched a scathing attack on the government’s economic strategy, claiming the UK is “at the edge of a crisis.” The City veteran told Times Radio: “I think we should all be worried about the state of Britain today. “Now, I am absolutely an optimist in my life. I’ve been working for [...]
Demand for Marylebone Village spots drives gains at Howard de Walden September 9, 2025 Rental income at the Howard de Walden estate has soared thanks to demand for retail and office spaces in Marylebone and Harley Street. Despite only a 1.1 per cent increase in property values in the year to March 21, rental income increased by 7.8 per cent to £164.1m from £152.2m in 2024, the estate said. It signed [...]
Tesco Mobile returns to profit thanks to Samsung Galaxy September 9, 2025 Tesco Mobile returned to profit thanks to Brits’ demand for premiums handsets such as the Samsung Galaxy S24 series, it has been revealed. The provider, which is a joint venture between the supermarket giant and Virgin Media 02, has posted a pre-tax profit of £1.2m for 2024, new accounts filed with Companies House show. The [...]