AIM: Companies fear generational damage if Reeves scraps tax relief October 17, 2024 London’s markets have become a “burning platform” for smaller companies and the pain will be compounded if the Chancellor scraps inheritance tax relief for shares on London’s AIM exchange, City bosses have warned today. Ahead of the budget on October 30, a group of AIM listed companies and City think tank New Financial have added [...]
Klarna offloads UK loan book to hedge fund Elliott October 16, 2024 Klarna is selling off its UK loan book to the hedge fund Elliott in a deal designed to free up some £30bn to fund its global growth plans, the company has announced. In a statement today, the Swedish headquartered buy-now pay-later firm said it had signed a multi-year agreement with the UK arm of Elliott [...]
Reeves looks to charm small business amid tax backlash October 15, 2024 Rachel Reeves has mounted a charm offensive on small business owners this evening after a furious backlash against rumoured plans to hike capital gains tax and national insurance at the Budget this month. At a summit of executives and start-up founders in Downing Street, the Chancellor is expected to bang the drum for more investment [...]
Reeves shakes up state-owned banks in bid to unlock flood of start-up cash October 14, 2024 Chancellor Rachel Reeves has shaken up the mandate of two state-owned development banks today as part of efforts to divert billions of pounds of investment into high-growth British start-ups.
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 [...]
Gareth Southgate set to speak at Starmer’s flagship investment summit October 9, 2024 Gareth Southgate and the boss of Aviva will be among the headline speakers at the government’s global investment summit next week as Keir Starmer looks to flaunt the country in front of international financiers. In a programme outlining the schedule, sent to attendees this evening, the government said sessions would cover the new government’s “vision [...]
Delays to investment minister appointment ‘totally ridiculous’, says former holder October 9, 2024 The government’s failure to appoint an investment minister nearly 100 days after taking power is “totally ridiculous”, the former holder of the office has said, as ministers scramble to finalise plans for their landmark investment summit next week. The Global Investment Summit, taking place in London on Monday, had been planned this year as a [...]
City regulator: Concentration poses risk to markets October 8, 2024 The boss of the Financial Conduct Authority (FCA) said “herding behaviour” and “market concentration” were posing new risks to the financial markets today as he warned investors to brace for volatility in the long term. Speaking at the regulator’s market conference in Westminster, Nikhil Rathi said excessive daily swings had become a bigger concern to [...]
S&U fires barbs at regulator after motor finance probe dents profit October 8, 2024 Specialist lender S&U fired another salvo at the Financial Conduct Authority (FCA) today as it blamed regulatory pressure for the “uninspiring performance” of its motor finance business in the first six months of the year. Pretax profit across the London-listed firm slumped by nearly half to £12.8m for the six months to 31 July, down [...]
Don’t turn the City into the ‘best regulated graveyard’, pension funds told October 7, 2024 A group of pension funds has been warned against turning the City into the “best regulated graveyard” today after they called for the boss of the London Stock Exchange to stop lobbying for reform of financial services rules. In the latest of a series of letters to the London Stock Exchange Group (LSEG), a coalition [...]
