Five fintechs on the verge of unicorn status August 13, 2024 The fintech sector is experiencing lightning growth, with a number companies on the brink of joining the coveted unicorn club – a title given to privately-held startups valued at over $1bn. According to recent data from Crunchbase, analysed by investment bank Panmure Liberum, a handful of fintech firms are leading the charge, with valuations upwards [...]
You can celebrate Team GB Olympics success with actual Olympians. Here’s how August 13, 2024 Clean Bandit, Jess Glynne, Pete Tong and Rag’n’Bone Man are some of the musicians playing a celebratory show this weekend to welcome Team GB Olympics winners and participants back home. The show will take place on Saturday 17 August at the AO Arena in Manchester and will be an opportunity to see the Olympians up [...]
Treasury questions payments regulator on deadline for controversial fraud refund rules August 13, 2024 The Treasury has reportedly raised questions with the UK payments regulator over the timetable for its new fraud refund rules that have stirred alarm among banks and fintechs.
‘Magnificent’ Hyde Park penthouse on sale for £60m August 13, 2024 A £60m penthouse has gone on sale in Hyde Park in a tentative sign that the super-prime market may be turning towards bigger, more expensive homes again. The apartment, which is one of London’s biggest listings in 2024, includes “one of the largest private terraces in central London”, according to James Van Den Heule, co-founding director [...]
Asda continues to lose market share while grocery inflation rises for first time since March 2023 August 13, 2024 Asda and the Co-op have continued to lose market share while a rise in grocery inflation has led to overall sales increasing significantly for Tesco, Sainsbury’s and Lidl. Take-home sales at the grocers rose by 3.8 per cent in the four weeks to August 4, 2024, compared with the same period a year ago, according [...]
Synthomer rebounds to profit as £13m cost cuts offset sluggish demand August 13, 2024 Chemicals group Synthomer has surged back into the black, defying sluggish demand by banking £13m through cost-cutting measures. The London-listed firm, which is headquartered in Essex, made an underlying profit of £2.5m in the first six months of 2024, up from an underlying loss of £6.7m in the same period of 2023. Its shares jumped [...]
Dowlais considers sale of powder metallurgy unit as EV volatility dents profit August 13, 2024 Boss Liam Butterworth said the firm had adopted to a "relentless" focus on cost control ahead of an anticipated dip in second half revenue.
UK’s largest pension fund agrees £405m homes deal with Blackstone August 13, 2024 The UK’s largest pension fund has acquired 3,000 homes from Blackstone for more than £400m. The Universities Superannuation Scheme (USS) has snapped up the portfolio of shared ownership homes from affordable housing company, Sage. Sage is majority-owned by Blackstone alongside real estate investor Regis and was formed in 2017. The £405m deal is the first [...]
Genuit: Construction supplier’s profit nearly halves as ‘subdued’ market conditions persist August 13, 2024 Sustainable construction supplier Genuit has posted a near halving of its profit for the first half of 2024 and said it expected "subdued" market conditions to persist for the rest of the year.
Gem Diamonds reports revenue jump despite plummeting demand for mined stones August 13, 2024 Mining company Gem Diamonds has reported a strong start to its financial year after uncovering eight diamonds over 100 carats in the first six months of 2024. The London-listed firm, which mines in the Maluti Mountains of Lesotho, said the high-carat finds had helped its revenue soar to $77.9m (£60.8m) compared to $71.6m (£55.9m) in [...]