AssetCo boss says ‘still much to do’ as firm posts first half loss June 15, 2022 The boss of AssetCo said today there was “still much to do” as the newly expanded asset manager posted pre-tax losses of £2.6m for the first half of the year.
Population of High Net Worth Individuals in the UK grew to 609,400 in 2021 as wealth rose globally June 14, 2022 The number of people in the UK with investable assets of $1 million or more, called High Net Worth Individuals (HNWI), rose 6.3 per cent to 609,400 in 2021 as wealth increased globally. The 2022 World Wealth Report by Capgemini on Tuesday revealed that the global HNWI population grew 7.8 per cent in 2021, with [...]
Hedge Funds hit out at London Metal Exchange over ‘conflicts-of-interest’ in nickel price fiasco June 8, 2022 The Managed Funds Association (MFA), a powerful Washington lobby group, has accused the London Metal Exchange (LME) of failing to manage its “conflicts-of-interest,” as the market faces mounting criticism over its decision to halt nickel trading last March. In comments submitted to the LME, the industry body which represents hedge funds with £2.6trn worth of [...]
EY to capitalise on booming private equity market via $1bn investment over the next four years June 8, 2022 EY today set out plans to capitalise on the $5trn private equity (PE) market, with a view to bolstering its PE offerings by investing $1bn (£800m) into its business over the next four years. The Big Four accountancy firm said it aims to solidify its “leading market position” by investing the $1bn sum into expanding [...]
Female founders face greater risk of equity dilution than men June 8, 2022 Female founders are significantly more vulnerable to the dilutive effects of equity funding than their male counterparts, according to new research from JP Morgan, which shows women, on average, give away much larger stakes in their businesses than men. The UK’s 10,647 female led businesses raised a record £5.05bn in equity investment in 2021, whilst [...]
London Metal Exchange faces second lawsuit this week after Jane Street sues over nickel trading fiasco June 7, 2022 New York trading firm Jane Street Capital has followed its Wall Street rival Elliot Management in filing a lawsuit against the London Metal Exchange (LME), over its decision to halt trading of nickel and cancel trades in March. The high-frequency trading firm is suing the LME for $15.3m (£12.2m), after the Hong Kong Exchanges and [...]
Venture capitalist Julie Meyer fails to overturn six-month suspended sentence May 28, 2022 Venture capitalist Julie Meyer has failed in her bid to overturn the six-month suspended sentence handed down to her in February, following her long-standing refusal to pay almost £200,000 in legal fees to London law firm Farrer & Co. At a hearing on Thursday, a Court of Appeals judge rejected the businesswoman’s appeal, as he [...]
Glencore pays $1bn settlement to US authorities after admitting bribery in UK court May 24, 2022 Commodity trader Glencore has agreed to pay more than $1bn to US and Brazilian authorities to settle corruption investigations, after indicating it will plea guilty to bribery charges in the UK. Glencore said it will pay a combined sum of $1.06bn to the US Department of Justice (DoJ) and Commodity Futures Trading Commission (CFTC), and [...]
Boris Johnson should take a lesson from Emmanuel Macron to boost UK’s economic growth May 23, 2022 Boris Johnson should follow in the footsteps of Emmanuel Macron by ensuring Britain is made a “natural home for investors,” the Centre for Policy Studies (CPS) has said. In launching a new 10-point manifesto to boost Britain’s economic growth, the CPS published new researching showing investors are worried about the UK’s trajectory and concerned about [...]
Sunak poised to give poorest households £5-7.5bn to deal with cost-of-living crunch, Deutsche Bank says May 22, 2022 Deutsche Bank has said it expects the UK’s Chancellor of the Exchequer Rishi Sunak will give £5-7.5bn in support to the UK’s poorest households to help them deal with the UK’s cost-of-living crisis. The chancellor could increase universal credit payments, give money to food banks, and help poor households pay for energy bills, in a [...]