Monzo set for £4.5bn valuation in employee share sale October 10, 2024 Monzo is launching a secondary share sale that is set to value the digital challenger bank at £4.5bn, City AM has learned.
Zilch books quarterly profit and readies hiring spree as IPO looms October 10, 2024 Buy-now pay-later provider Zilch is planning to double staff numbers over the next 18 months after booking its first quarterly profit ahead of a much-anticipated IPO.
Mark Carney: Ex-Bank governor says fiscal rules must enable greater public investment October 10, 2024 "If government money is being spent to build or buy an asset on behalf of the nation, it is only right that its value is captured in the definitions of national debt," he wrote in the Times.
Renters set for more tough times as house sales strengthen October 10, 2024 The latest RICS Residential Survey has provided a lot of optimism for house buyers and sellers, but less for tenants, who are set to contend with an even tougher market. The survey, which asks estate agents for their opinion on the housing market, found a “sustained improvement in market activity”, with measures of demand, sales and [...]
Liontrust assets plunge as investors pull £1.1bn from funds October 10, 2024 Liontrust’s assets under management slumped over the summer as investors pulled £1.1bn from its funds. Every area of the asset manager’s business saw net outflows in the second quarter of its financial year, with the largest, UK retail funds and managed portfolio services, suffering a £904m exodus from investors. “We anticipated that the industry had [...]
Workers’ rights: Business secretary defends ‘rushed job’ bill October 10, 2024 The business secretary has defended the government’s plan to overhaul workers’ rights after a lobby group branded it a “rushed job, chaotic and poorly planned”.
Prepare to flee London’s AIM if Reeves mounts inheritance tax raid, bank warns October 10, 2024 Companies listed on London’s junior AIM market are being told to prepare to flee the exchange or announce emergency share buybacks amid fears that a punishing inheritance tax raid could trigger a sell-off, City AM has learned. In a letter seen by City AM, one investment bank has urged all of its AIM-listed clients to [...]
Arsenal are overachieving in the Premier League, but do fans appreciate it? October 10, 2024 In a parallel universe, Arsenal have already beaten Manchester City to the title. Forget Pep and Mikel’s inflamed war of words in this season’s scrap for the Premier League trophy; the Gunners have bagged the prize for outperforming their playing budget. Football, though, must ultimately be about fans’ dreams, not investors’ and bank managers’ bottom [...]
Taxes might have to go up by £25bn in Budget, IFS says October 10, 2024 Rachel Reeves may have to raise taxes by £25bn in the Budget if she wants to improve the delivery of public services, the influential Institute for Fiscal Studies (IFS) said today. Although the Chancellor looks set to reform the fiscal rules to enable more borrowing for investment, Reeves has committed to meet day-to-day spending out [...]
Labour’s arrogance is disrespectful to business October 10, 2024 When it emerged that Boris Johnson reportedly muttered “f**K business” during a meeting as Prime Minister, he was rightly castigated. For many people it marked an emphatic break in the relationship between government and the private sector. We might not be able to point to any similarly totemic moment in Keir Starmer’s first three months [...]