Up the blockchain beanstalk in search of a golden goose August 31, 2018 Remember the tale of Jack and the Beanstalk, when the hero traded his very last asset – the valuable family cow – for a handful of magic beans, and by some miracle of climbing the resulting beanstalk he ended up living happily ever after, thanks to proceeds from a bag of gold, a golden goose, [...]
Claim-hit Wonga stops taking loan applications as it ‘considers its options’ August 30, 2018 Wonga appeared to be on the verge of folding this morning, as it made the decision to stop taking new loan applications. The payday lender told customers that it “continues to assess its options” in the wake of a huge number of compensation claims that led to shareholders providing an emergency £10m earlier this month. [...]
Africa needs fintech – but fintech needs Africa more August 30, 2018 What a difference a couple of decades make. At the turn of the century, Tony Blair remarked that “the state of Africa is a scar on the conscience of the world”. This week, on her first official visit to the continent, Theresa May embraced a new vision of optimism and hope. Read more: Theresa May [...]
Telecoms firms to profit off broadband price hikes when contracts expire August 29, 2018 Telecoms firms stand to profit as customer contracts expire, with UK households on standard speed deals facing price hikes of as much as 82 per cent the day after their contract runs out. Standard broadband contracts jump by an average of £152 per year a day after they end, according to data from comparison site [...]
Wonga’s brand perception is struggling amidst negative headlines August 29, 2018 Over the last week rumours have swirled around one of Britain’s biggest payday lenders, Wonga, with suggestions that the brand may be close to collapse. This apparent crisis facing the short-term loan provider relates to an apparent surge in customer compensation claims. Wonga’s financial issues have resulted in a £10m emergency cash injection from shareholders [...]
Aston Martin to announce £5bn stock market listing August 28, 2018 Luxury car brand Aston Martin is set to announce its long-awaited £5bn stock market listing. The luxury car-maker will announce on Wednesday – alongside interim results – its intention to list on the London Stock Exchange in the autumn, according to Sky News. The launch of Aston Martin's initial public offering (IPO) will involve the [...]
Payday lender Wonga pushed to the brink as claims management companies look for ‘next PPI’ August 27, 2018 Payday lender Wonga is considering insolvency among the options as it tries to deal with a deluge of complaints from claims management companies looking for “the next PPI”. Wonga said it is assessing “all options” for the group, which is struggling under the burden of a large number of compensation claims. The controversial firm raised [...]
Clock’s ticking: Payday lender Wonga is ‘on the brink of collapse’ following a spike in customer claims August 26, 2018 Embattled payday lender Wonga is facing insolvency, just three weeks on from receiving an emergency £10m cash injection. The London firm is expected to appoint Grant Thornton to act as its administrator if its board decides Wonga cannot avoid falling into insolvency, Sky News first reported. Today's administration fears follow several enquiries from claims management companies [...]
Dragons’ Den tycoon to sell a substantial stake in his £350m health and leisure business August 23, 2018 Former Dragon's Den investor Duncan Bannatyne is shopping around a "substantial" minority stake in his hotel-to-gym empire, which could value the business at £350m. Two years on from an abandoned flotation of the business, Bannatyne has hired DC Advisory to attract entrepreneurs towards his health and fitness chain Bannatyne Group, Sky News first reported. The group itself [...]
Horse Racing Betting Tips: Eagle to swoop and land massive Ebor pot for Botti August 23, 2018 THERE aren’t many races during the season that are worth £1million, but in 12 months’ time that is exactly what will be up for grabs in the Sky Bet Ebor (3.40pm). That’s an incredible amount for a handicap and this year’s £500,000 certainly isn’t to be sniffed at. The result of this massive prize money [...]