Home Office plans to spend £2.2bn of foreign aid on asylum support June 7, 2025 The Home Office plans to spend about £2.2 billion of foreign aid to support asylum seekers this financial year, according to new figures. The amount of overseas development assistance (ODA) budgeted by the Home Office – which is largely used to cover accommodation costs such as hotels for asylum seekers – is slightly less than [...]
London must ‘market its successes better’ to avoid another Wise June 7, 2025 Britain must emulate the success of Nasdaq and get better at trumpeting its business success stories if it wants to attract more companies to list in London, one of the UK’s top fintech venture capital investors has said. Speaking to City AM the day that payments darling Wise revealed plans to ditch its primary listing [...]
London shipowner looks to wind to propel green transition June 6, 2025 A London-based private shipowner is spearheading a drive to bring wind-powered shipping to the forefront of the UK’s bid to decarbonise. Union Maritime will take delivery of a 115,000-tonne oil tanker fitted with 120ft sails later this month. It is aiming to build a fleet of up to 34 wind-assisted ships, which would be the [...]
Beyoncé London review: the protest vibe feels a bit thin June 6, 2025 Beyoncé London review: there’s no denying that belt, even if the protest aesthetic doesn’t quite work No one can doubt Beyoncé. At least, not in terms of her belt and ability to deliver an incredible show. Give her any piece of music from operatic to country, and as she proved last night in London, she [...]
FCA lifts ban on crypto trackers in growth push June 6, 2025 The Financial Conduct Authority is poised to lift its ban on offering a type of crypto tracker to retail investors even though it could mean they “lose all their money”, in the latest sign of loosening financial red tape in a bid to help kickstart growth. The City watchdog has proposed allowing investment platforms to [...]
Wise’s London listing snub shows the need for urgent City reform June 6, 2025 The loss of the primary listing of the fin tech Wise from London is another body blow to those seeking to reboot its fortunes as the international market where the best ideas find the best capital, writes shadow business secretary Andrew Griffith. Coming on the eve of London Tech Week it’s a real downer and [...]
Pret owners in discussions for IPO or possible sale June 6, 2025 Pret’s parent company JAB Holding has engaged advisors to explore options for the sandwich chain, which include a potential sale or stock market float. Luxembourg-based JAB, which bought Pret for £1.5bn in 2018, told the Financial Times that it was not “currently” considering a sale, but added: “As we move closer to a potential IPO, [...]
Melrose founders’ Rosebank strikes £1.4bn deal June 6, 2025 Rosebank Industries, the investment vehicle led by Melrose founder Simon Peckham, has struck a £1.4bn deal for a North American electrical components business. The acquisition of Electrical Components International (ECI), the company’s first, will be financed through debt facilities and a £1.14bn capital raise at an issue price of £3 per share. Peckham, a veteran [...]
A Wise storm has rocked the London Stock Exchange’s fintech dream June 6, 2025 Hopes of a fintech-powered City markets revival may have been crushed on Thursday after money transfer firm Wise ditched its primary listing. The embattled London Stock Exchange was dealt its latest blow as the UK fintech opted for a dual listing across the Atlantic but with the US acting as its primary base. It’s no [...]
Has Klarna’s buy now, pay later bubble burst? June 6, 2025 Buy now, pay later services have exploded in the last decade and industry titan Klarna has spearheaded growth. The global BNPL market is expected to top $560.1bn (£412.8bn) in 2025 with 13.7 per cent annual growth. Swedish fintech Klarna has historically dominated the space, notching a net operating income of $1.087bn in 2020. The firm [...]