London’s younger workers lead charge back to the office July 22, 2021 Younger workers in London are more eager to get back to the office compared to their older counterparts, according to new figures published today. Research from Workspace shows 77 per cent of workers aged between 18-34 in the capital are looking forward to coming back to the office, compared to half of staff aged 35 [...]
UK government to sell-off more of NatWest stake July 22, 2021 The UK government is set to sell more of its stake in NatWest over the next year. Over the next 12 months, the government plans to sell 15 per cent of its stake in the bank formerly known as Royal Bank of Scotland through a share sale. Read more: NatWest chairman warns City will never [...]
NatWest chairman warns City will never return to pre-Covid state July 21, 2021 The chairman of one of the UK’s largest banks and former director of the London School of Economics has warned that the City will never return to its pre-Covid state. Sir Howard Davies, chairman of NatWest, said the days of thousands of workers flowing into the City for 8am – 6pm working days “are gone” [...]
Bridgepoint shares swell 26 per cent upon rare London IPO July 21, 2021 Shares in private equity firm Bridgepoint surged upon its London stock exchange debut on Wednesday, in the first major UK listing for the industry in decades. The buyout group, which has around €27.4bn of assets under management across equity and debt funds, set a share price of 350 pence per share in an announcement on [...]
Revolut enters travel booking sector with in-app service for UK holidaymakers July 21, 2021 The challenger bank is capitalising on post-lockdown savings and desire to travel with a new in-app product that allows users to book holiday accommodation in the same place that they manage their finances. Revolut users in the UK are now able to check their cashflow before booking holiday accommodation, all without logging out of the [...]
High risk clients: Furloughed workers and self-employed with Covid grants refused mortgages July 15, 2021 Furloughed workers and self-employed people who have received government grants during the pandemic have been refused mortgages by some of the UK’s major banks. This comes as some brokers argued that banks see people who have received Covid-related grants as high risk. Two of the UK’s biggest high street banks, NatWest and the Royal Bank [...]
Revolut becomes UK’s most valuable fintech after bumper funding round July 15, 2021 Challenger bank Revolut has become the UK’s most valuable fintech company after seeing its valuation surge to $33bn (£24bn) following a fresh funding round. The British fintech favourite has secured $800m in new funding in a round led by Softbank’s Vision Fund and Tiger Global Management. It makes Revolut one of the most valuable fintechs [...]
US stocks muted as Powell moves to temper inflation fears July 14, 2021 US stocks were broadly flat on Wednesday morning after Fed Chair Jay Powell suggested that inflation could run hot in the coming months. The blue-chip S&P 500 edged up 0.08 per cent, while the Dow Jones added 0.01 per cent. The tech-heavy Nasdaq gained 0.02 per cent during the morning session. Read more: Powell: US [...]
World’s first Islamic international digital bank to launch in UK July 14, 2021 The world’s first Islamic international digital bank will be launched in the UK, Boubyan Bank Group announced today. Nomo, part of the Boubyan Bank Group, will offer bank accounts and financial management services for clients in Kuwait and the Middle East region. Read more: Watchdog warns Monzo and NatWest over banking transaction history breaches Nomo [...]
City Moves: Who’s switching jobs in the Square Mile this week? July 14, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Irwin Mitchell poaches Slater & Gordon employment lead London law firm Irwin Mitchell has poached another Slater & Gordon lead this week as a new partner who will be based in its Holborn office. Deborah Casale, [...]