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 [...]
Dunelm shares plummet despite ‘successful year’ September 9, 2025 Dunelm’s share price dropped more 10 per cent to 1,114p on Tuesday after profit growth slowed, despite reporting a rise in sales and market share gains. City broker Peel Hunt said the company’s “operational grip shone through”, with numbers as expected. “Outgoing CEO Nick Wilkinson hands over a business in great shape, demonstrating increased relevance [...]
Meet the new ministers driving Labour’s latest growth mission September 9, 2025 A £25bn fiscal black hole, fading housebuilding hopes and lacklustre productivity growth marked a troublesome end to the first year in office for the new occupants of Downing Street this summer. While the resignation of Angela Rayner – the popular Labour figure who had called for the Treasury to turn left and tax the wealthy – [...]
Modella and HMV owner compete for Claire’s Accessories September 8, 2025 Modella Capital, the investor behind WH Smith’s UK acquisition the man responsible for rescuing HMV are locked in a battle to buy struggling high street chain Claire’s. Claire’s appointed administrators for its UK arm in August, just a week after it filed for bankruptcy in the US and entered administration in France. The company had been considering [...]
‘It’s not a fair fight’: HMV boss issues Rachel Reeves Autumn Budget tax demand September 8, 2025 Chancellor Rachel Reeves has been urged to reform business rates in the Autumn Budget by the boss of HMV. Phil Halliday, in an up-coming episode of City AM‘s Boardroom Uncovered show, said the current system should be altered to make it fairer for UK retailers. The managing director added that businesses such as HMV are [...]
Ashmore: Preparing for emerging market growth September 5, 2025 Emerging markets specialist Ashmore reported a decline in total adjusted net revenue of 22 per cent to £146.5m in its latest fiscal period. Net management fee income declined 19 per cent to $129.7m, (£95m) causing a margin drop to 35 basis points from the 39 recorded last year. AUM stood at $47.6bn, a 3 per [...]
British billionaire trader offers interns £26k a month September 4, 2025 A billionaire trader has said interns at his trading empire would be paid $35,000 (£26,000) as firms fight to snap up the best tech talent. Alex Gerko, boss of XTX Markets, is offering postgraduates a 12 to 14-week research internship where they could pocket between $105,000 and $122,500. The position, a role commanding four days [...]
Currys kicks off year with strong sales despite high street pressures September 4, 2025 Currys has reported a robust start to its new financial year, with sales growth across the UK, Ireland and Nordics, and a £50m share buyback programme as the electricals retailer looks to reward shareholders. In a trading update for the 17 weeks to 30 August, the FTSE 250 firm said UK & Ireland like-for-like revenue [...]
Higher interest rates boost Lloyd’s of London September 4, 2025 Lloyd’s of London, the world’s leading insurance and reinsurance market, has reported a profit before tax of £4.2bn for the first half of 2025. Gross written premiums climbed to £32.5bn, up from £30.6bn reported for the same period last year. Its underwriting result fell to £1.5bn, down from £3.1bn the previous year, as the market’s [...]