LK Bennett to offer customers crypto cash back November 9, 2021 Kate Middleton could soon be among shoppers being offered crypto cash back with LK Bennett poised to launch a Bitcoin rewards scheme. The luxury fashion brand, which is a favourite of the Duchess of Cambridge, has announced a partnership with the open-banking payments platform Mode to provide customers with crypto rewards. LK Bennett’s customers will [...]
Investors shake off latest outburst from embattled THG boss November 8, 2021 THG shares enjoyed a brief moment in the sun on Monday morning before slumping once again, at the market’s first trading opportunity since CEO Matthew Moulding spilled the beans on Friday about his regrets for the group’s IPO. Topping off what has been a tumultuous few weeks for the ecommerce group, Moulding revealed that he [...]
BlackRock CEO tells COP26: ‘We need to change finance’ – CityAM : CityAM November 2, 2021 Blackrock CEO and chairman Larry Fink rallied for more public-private investment in emerging markets’ climate infrastructure today, after the world’s largest asset manager raised a target-beating $673m fund to do exactly that. The asset management giant secured backing from the French, German and Japanese governments as part of the fundraise, which was oversubscribed and exceeded [...]
THG shares hit record rock bottom after Blackrock sheds half its stake November 2, 2021 Shares in THG have plunged to an all-time low this morning on the news that its largest institutional shareholder Blackrock sold half of its stake in the ecommerce group after a tumultuous month. Blackrock has sold 58m shares in THG at a price of 195p each, valuing the deal at £113.1m, according to its bookrunner [...]
THG ramps up governance overhaul and begins search for independent chair October 26, 2021 UK e-commerce company THG said this morning it has appointed a consulting firm to begin a search for a new independent chair for the company, in its latest attempt to appease City investors with doubts about the governance and transparency of the business. Alongside its third quarter results this morning, the group announced it had [...]
THG boss Matthew Moulding ditches share pledge against personal Barclays loan October 20, 2021 THG chief executive Matthew Moulding has dropped a pledge of shares in the business as collateral against a personal loan with Barclays, in the latest effort to claw back investor confidence after a bleak share price crash. The company today said that Moulding and his wife Jodie were no longer using THG shares as collateral [...]
Editorial: What the City can learn from Succession… and what it shouldn’t October 19, 2021 There is something viscerally thrilling about the return of Succession to our screens. Whether it is the venal backbiting, the elaborate corporate power-plays, or simply the fact that the myriad troubled characters at the heart of the Roy empire speak to each other like we’d sometimes like to speak to our colleagues, there is something [...]
THG founder Matthew Moulding to give up ‘golden share’ after £2bn mystery share plunge October 18, 2021 Online retail giant THG confirmed this morning that its founder, Matthew Moulding, has agreed to give up his “golden share” after the company’s shares plunged amid fierce scrutiny over its corporate governance. The “golden share” structure has been criticised by institutional investors who believe it can give founders too much control. THG’s structure has also [...]
THG boss to surrender ‘golden share’ after share price collapse October 17, 2021 Matthew Moulding, the founder of The Hut Group (THG), is poised to ditch his controversial “golden share” in the company in a bid to regain investor confidence after a shareholder presentation backfired last week and caused the group to lose a third of its value. Shares in UK e-commerce business THG, which owns brands such [...]
Bank bigwig warns of potential for “massive” crypto crash October 14, 2021 A BANK of England grandee has called for cryptocurrencies to be regulated as a “matter of urgency,” warning that a “massive” market crash is a realistic scenario. Sir Jon Cunliffe, the Bank’s deputy governor for financial stability, said that crypto volatility poses a rapidly growing threat to the world economy. A crash would have the [...]