THG on warpath to prove collusion as firm hands City regulator data dossier January 9, 2022 E-commerce firm THG has given a dossier of data to the Financial Conduct Authority (FCA), in a bid to prove hedge funds and stockbrokers conspired to push its share price down. THG chief executive Matt Moulding believes a dossier of irregular stock market trading and short-selling data will prove collusion against his company, according to [...]
Companies led by women attract 96 per cent less funding than male-run ones December 15, 2021 Businesses led by females on average received a staggering 96 per cent less funding than their male counterparts this year despite growing pressure for gender parity, according to new data. The study of the highest funded female and male businesses in the UK in 2021 revealed a vast gap in funding between companies led by [...]
Growth capital business a key focus for long-term strategy at Numis, says co-CEO December 8, 2021 City broker Numis this morning reported its full year revenue swelled nearly 40 per to hit £215.6m, as a buoyant IPO market coupled with stabilised markets and rising deal fees helped the firm deliver its second record annual revenue performance in a row. Profit before tax doubled in the year to September 30, which Numis [...]
Bitcoin cashback announcement ends in controversy for UK fintech Mode November 18, 2021 Major retailers Boots and Ocado have distanced themselves from an announcement claiming they would offer customers cash back in Bitcoin. Today London-listed fintech Mode announced it would be adding more than 40 UK retailers including Boots, Ocado and Homebase to its crypto cashback rewards scheme. However, in comments to City A.M. both Boots and Ocado [...]
Exclusive: Homebase among 40+ retailers to offer Bitcoin cash back November 18, 2021 Major UK retailers including Homebase plan to give online shoppers cash back in Bitcoin it has been claimed. Homebase is among more than 40 retailers which will be added to a crypto rewards scheme powered by London-listed fintech Mode, the company announced today. When UK customers make purchases at participating retailers their Mode wallet will [...]
City broker Numis reports itself to FCA over THG memo that went a step too far November 17, 2021 AIM-listed investment bank Numis has apologised and handed itself in to the City watchdog, after one of its employees circulated a bold memo suggesting that ecommerce group THG had “irregularities in accounting”. Numis, a bookrunner on THG’s IPO just over a year ago, has found itself in a sticky situation after the memo to hundreds [...]
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 [...]