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 [...]
Warpaint London to acquire fellow beauty specialist Brand Architekts December 5, 2024 Cosmetics firm Warpaint London has announced the acquisition of fellow beauty brand specialist Brand Architekts. Warpaint London, the company behind makeup brands W7 and Technic, told markets today it has reached an acquisition agreement for the entirety of issued and to be issued share capital of the Brand Architekts. The company said under the terms of [...]
Mike Ashley’s Frasers lowers profit guidance following Budget December 5, 2024 The retailer expects to deliver adjusted pretax profit in the range of £550-£600m for the 2025 financial year, down from £575-625m previously.
Revolut crowdfunders in line for 400 times return on investment December 5, 2024 Some of Revolut’s earliest investors are in line for 400 times returns after taking a punt on a fledgling fintech that has grown into a banking titan. The British start-up’s early backers, including participants in two crowdfunding rounds, have been offered the chance to sell down their holdings in a secondary share sale. Brokered by [...]
Fancy coloured diamonds boosts sales at Boodles December 4, 2024 Revenue has increased significantly at Boodles, the historic jewellery retailer, thanks to a rise in demand for white and fancy coloured diamonds. The family-run business, which was founded in 1798, said revealed its trading in the year to 28 February, 2025, has so far been “encouragingly strong” and showing a “significant increase” in revenue and net [...]
Public spending to ‘boost growth’ next year, but inflation also set to spike December 4, 2024 In its latest economic outlook, the Organisation for Economic Co-operation and Development (OECD) projected that growth would pick up to 1.7 per cent in 2025.
How Games Workshop worked its magic to join the giants of the FTSE 100 December 4, 2024 Games Workshop is officially set to battle its way into the FTSE 100 later this month for the first time in its history, cementing its place as a titan of the City. The Warhammer maker is now the 85th biggest listed company in the UK, guaranteeing its spot in London’s main index and eclipsing household [...]
Gail’s Bakery to open 35 new locations amid £500m sale talks December 3, 2024 Gail’s Bakery is planning to open 35 new locations across England during its current financial year as it considers a £500m sale. The London-headquartered business opened 21 in its latest 12 months – a period which also saw its revenue surge from £181.7m to £231.7m. Newly-filed accounts with Companies House for the year to 29 [...]
Festive period off to a ‘bad start’ for retail sector as sales drop December 3, 2024 The British Retail Consortium's (BRC) sales monitor showed that sales volumes fell 3.3 per cent in the year-to-November, compared to a 2.3 per cent increase last year.