Goldman Sachs profit surges, Bank of America and Wells Fargo hit by loss provisions October 14, 2020 Goldman Sachs has reported a dramatic increase in third-quarter profit as increased trading revenues boosted the investment bank, while consumer-focused peers Bank of America and Wells Fargo were hit by increased provisions for bad loans. Goldman Sachs boosted by spike in trading activity Goldman reported a 94 per cent increase in quarterly profit, beating estimates [...]
London Stock Exchange enters talks to buy stake in Primarybid June 30, 2020 London technology startup Primarybid is in talks to sell a chunk of its business to Britain’s stock exchange, following a successful partnership between the pair. London Stock Exchange Group (LSEG), the parent firm behind the London Stock Exchange, has entered detailed discussions with Primarybid about an investment, Sky News reported. Primarybid is an everyday investing [...]
London’s fintech scene could be a winner from the Covid crisis January 13, 2021 We all know the Covid-19 pandemic has been, and for too many remains, a devastating time. It’s easy to be pessimistic, too, even as vaccine rollout speeds up. Life will not go back to ‘normal’ quickly – the events of the last ten months will have profound repercussions for health services, businesses, debt and fiscal [...]
Financial services M&A dips as management shifts priorities January 12, 2021 M&A in the UK’s financial services industry dropped amid the pandemic as management’s priority shifted away from deals to the preservation of cash. The UK financial services industry announced just 136 deals in 2020 down from 211 in 2019, according to exclusive EY data. Deal activity came to a near standstill at the start of [...]
What is the outlook for UK dividends in a less certain world? March 16, 2022 Russia’s invasion of Ukraine looks set to exacerbate economic trends which had already been influencing markets. Amid the uncertainty, experienced investors Sue Noffke and Graham Ashby give their views on the outlook for UK dividends. Investors had already been viewing markets in a more cautionary manner, even before Russian troops amassed on the border with [...]
Datasite executive Merlin Piscitelli on the UK’s fintech funding boom and the future of M&A August 13, 2021 British fintech investment across M&A deals, private equity (PE) and venture capital (VC) has boomed as the country emerges from the pandemic, soaring in the first six months of 2021 to four times the $5.9bn invested during the whole of 2020. Investment in UK fintech has reached an all-time high as firms in the industry [...]
Deal-makers bullish on M&A prospects for the year March 2, 2020 Deal-makers are more bullish about prospects for M&A and capital raising this year than they were at the start of 2019. According to figures from Refinitiv, 47 per cent of deal-makers anticipate M&A volume growth, with an average predicted growth of 4.7 per cent. Asian dealers are more bullish than their American and EMEA counterparts, [...]
City of London Corporation appoints Refinitiv executive Nick Collier as Brussels managing director February 14, 2019 The City of London Corporation has appointed a senior boss at financial data firm Refinitiv as managing director for its Brussels office. Nick Collier, the global head of government relations at Refinitiv, will take on the role from March, the same month that the UK is set to leave the EU. The City of London Corporation said [...]
Airbnb reports better than expected revenue drop amid biting pandemic restrictions February 25, 2021 Airbnb suffered a better than expected 22 per cent revenue drop in Q4 2020, having at one stage predicted 2020 revenue could be less than half of what it was in 2019. Airbnb’s total revenue of $3.4bn for 2020 decreased by only 30 per cent compared with $4.8bn in 2019. In Q4 2020, revenue of [...]
Explainer: Why has the UK intervened in Nvidia’s $40bn Arm merger? April 20, 2021 Ever since it was announced in September last year, Nvidia’s proposed $40bn (£30bn) takeover of British chipmaker Arm has proved controversial. Critics including rival tech firms and former Arm executives were quick to hit out at the deal, warning of a negative impact for Britain and the semiconductor industry more widely. Yesterday the government made [...]