Fintech startup CommuterClub raises £2.3m to grow online season ticket financing from WGC and early-stage investors including tennis star Andy Murray October 30, 2017 A startup which provides financing for commuters to buy rail travel cards has landed a fresh injection of cash, City A.M. can exclusively reveal. The £2.3m for CommuterClub was led by Indian financial services firm Wadhawan Global Capital (WGC), an investor in Zopa and Goldman Sachs-backed fintech startup Neyber, with previous investors also participating. Read [...]
What goes up… Bitcoin (BTC) loses steam after topping $11,000 and drops back under $10,000 November 29, 2017 What goes up, must come down. And while bitcoin’s been building up a heady streak, the cryptocurrency crashed back below $10,000 this evening, dropping as much as 20 per cent, after notching past $11,000 earlier in the day. At the time of writing it was trading at $9,848 according to Coin Desk, down from an [...]
Who are the City’s best paid lawyers and what are they taking home? June 4, 2018 When private equity partner David Higgins started his new role in the City office of US law firm Kirkland & Ellis in April, he came with the weight of expectation generated by a reported $10m (£7m) salary. Higgins’ salary, which works out at nearly $200,000 per week, is almost unprecedented in the London legal market. [...]
Fintech startup MarketInvoice is getting into small business lending and taking on big banks November 1, 2017 One of the UK’s most well-known startups is taking on the big banks with a move into lending for small business, a market worth £35bn a year. MarketInvoice is expanding from peer-to-peer invoice financing into short-term loans of between £10k and £100k. Read more: Investec and Banco Sabadell are backing hot UK fintech startup Bud [...]
Philip Hammond to EU: Ditch the Brexit punishment and start talking trade January 10, 2018 Philip Hammond will tonight slam the “relative silence” of the EU over our future trading partnership and stress the bloc must ditch any thoughts of “punishing” the UK for Brexit. Speaking at the Die Welt economic summit dinner in Berlin this evening, the chancellor will tell the EU that “it takes two to tango” and [...]
Barclays raids JP Morgan for new boss of Corporate and Investment Bank September 5, 2016 Barclays has turned to fellow banking giant JP Morgan for the new boss of its Corporate and Investment Bank, it was announced today. Tim Throsby, currently global head of equities at JP Morgan, is expected to join Barclays as president of Barclays Corporate & International and chief executive of Barclays Corporate and Investment Bank in January next year. Throsby, [...]
Luxembourg finance minister warns EU against strict Brexit approach letting the City of London ‘drift away’ October 23, 2017 Luxembourg’s finance minister has warned EU leaders that taking a hard line approach towards a Brexit deal risks letting the City “drift away into the Atlantic”. Pierre Gramegna urged leaders to strike a collaborative accord allowing the “number one financial centre in the world” to stay well connected to Europe. “I think that it is [...]
JP Morgan thinks the Brexit bounce is here to stay August 15, 2016 A leading investment bank expects UK shares to outperform over the rest of the year, as it sees no reason to fear the Brexit bounce is coming to an end. In a particularly bullish note, JP Morgan said today the FTSE 100 is one of the best buys around for investors as the UK is still "cheap" [...]
Xavier Rolet’s replacement at the London Stock Exchange: Runners and riders November 30, 2017 Xavier Rolet is a tough act to follow: a strong strategic hand on the tiller at one of the City’s central financial institutions. The London Stock Exchange (LSE) Group role is one of a kind, with systemic importance through its derivatives clearing house LCH and trillions of pounds of investments indexed to its separate funds [...]
Bitcoin price (BTC) nears $10,000 as market cap overtakes IBM, Disney and McDonald’s, but bubble warnings persist November 27, 2017 Bitcoin believers have been left eagerly awaiting the cryptocurrency’s biggest ever milestone as it hovers just shy of $10,000 and its total market value overtakes some of the world’s biggest businesses. It has surged to a fresh record high on Monday, however, hitting $9,732.76 after breaking the $9,000 mark on Sunday, inflating expectations that it [...]