Private equity giant CVC makes ‘strong recovery’ as capital deployment ramps up August 14, 2024 Private equity giant CVC saw activity tick up in the first half of the year, recovering from a quiet 2023 as money finally began to flow into its investments. The Six Nations owner beat expectations with fee-paying assets under management at 127.5bn euros, two per cent ahead of analyst expectations, it revealed in a half-year [...]
Driving greater transparency and efficiency in cross-border payments August 14, 2024 | Sponsored Tim Forster, Strategic Partner Manager, Financial Messaging at Finastra Whether consumers, small and mid-sized enterprises (SMEs) or corporate entities, customers want access to speedy and transparent cross-border transactions from their bank. However, the process can often be extremely lengthy, costly and opaque, leading many to turn to more agile fintech providers. For example, many consumers [...]
FCA fines Cyprus-based trading broker £276,100 for ‘pressuring’ customers to put money at risk August 14, 2024 The City regulator has fined Cyprus-based trading broker Forex TB Limited £276,100 for failing to treat its customers fairly and providing unauthorised investment advice.
Building a Secure Bacs Payments Process with the Right Partner August 14, 2024 | Sponsored In the second of this two-part series, learn how the stability of electronic payments can be made simpler with enhanced security protocols and robust, agile architecture By Liz Carroll, Senior Product Manager, Financial Marketplaces at Finastra Prioritising resilience in the payments process is not just a matter of convenience, but a necessity for maintaining the [...]
Have smartcards had their day? Exploring alternatives for secure Bacs payments August 14, 2024 | Sponsored Liz Carroll, Senior Product Manager, Financial Marketplaces at Finastra Smartcards, embedded with integrated chips to store digital certificate data, are widely used in corporate payments for their security, convenience, and efficiency. The UK’s Bacs payment system has used smartcards to facilitate corporate access since the switch to Bacstel-IP in 2003. While smartcards offer great security, [...]
Bowling and gyms the surprise winner as Brits look for affordable fun in sporting summer August 14, 2024 The cost-of-living crisis may have started to tail off slightly, but it hasn’t gone away completely, as Brits chose affordable attractions during the summer. Amusement parks, aquariums and gyms topped the list of activities as school break got into full swing during a bumper summer for sport, according to data from Revolut, which tracked the [...]
Paddy Power and Betfair owner Flutter in talks for £2bn Snaitech deal August 14, 2024 Paddy Power and Betfair owner Flutter Entertainment is in talks to buy Italian gambling company Snaitech, the consumer division of Playtech, in a deal that could be valued at around £2bn. “Playtech confirms it is in discussions with Flutter and has granted Flutter a period of exclusivity to complete due diligence and finalise the necessary [...]
City grandee Martin Gilbert tries to sell Assetco share split plan August 14, 2024 Assetco chair Martin Gilbert is attempting to pitch his plan to split his company to investors in a bid to turn around the struggling asset manager. In June, Gilbert proposed that Assetco will be rebranded as River Global, with its 30 per cent stake in investment management and platform business Parmenion spun off. Now, Gilbert [...]
LG Electronics: UK sales suffer almost £100m fall as Samsung rivalry heats up August 14, 2024 Sales at the UK arm of LG Electronics have been slashed by almost £100m after it lost market share and Samsung stepped up its competition. The Surrey-headquartered division has reported a turnover of £561.4m for 2023, down from £654.3m, according to newly-filed documents with Companies House. Its pre-tax profit was also cut from £19.7m to [...]
Leeds-upon-Thames? How the West Yorkshire heartland is luring British institutions away from London August 14, 2024 Over the past few years Leeds has emerged as a go-to destination for British institutions looking to venture beyond the M25. Since 2018 Channel 4, the Bank of England, the Financial Conduct Authority and the UK Infrastructure Bank have all opened hubs or expanded their presence in the city, adding hundreds of new jobs and [...]