HSBC won’t ‘smother’ Silicon Valley Bank after rescue deal, says chief March 19, 2023 The boss of HSBC has said the bank will not “smother” the former UK arm of Silicon Valley Bank or overhaul its operations after it swooped in with a £1 rescue deal last week. The UK subsidiary of the California-based start-up lender was snapped up by HSBC just before market open on Monday in a [...]
Exclusive: Home REIT investors push for sweeping tenant clear-out in rescue plan March 17, 2023 Home REIT investors are pushing for a clear-out of its tenant base as part of rescue plans drawn up by the firm vying to become its new investment manager, Morning Wire has learned.
Pensionbee: Retirement platform says 56 per cent rise in savers puts it on profit path despite £19.5m loss March 16, 2023 London-listed fintech firm Pensionbee doubled down on its target of profitability this year today despite its losses widening to £19.5m in the past year. Adjusted earnings-before-deductibles losses at the pensions fintech jumped 19 per cent to £19.5m for the full year, up from £16.4m in 2021, which it said reflected “continued investment in growth” over [...]
Home REIT extends takeover deadline as lawyers accuse firm of trying to ‘bypass accountability’ March 16, 2023 Beleaguered social housing investor Home REIT said it would extend the ‘put-up or shut-up’ deadline for a takeover this morning as discussions with potential suitor Bluestar “remain ongoing”.
Budget: Can Jeremy Hunt’s R&D tax plans stop Britain becoming an ‘innovation wasteland’? March 15, 2023 Chancellor Jeremy Hunt has attempted to soften the blow of changes to the research and development (R&D) tax scheme today after backlash from small businesses and warnings the UK could become an “innovation wasteland”.
Silicon Valley Bank: Start-ups welcome the warm embrace of Britain’s big banks March 15, 2023 The collapse of SVB UK is causing start-ups to reevaluate their banking priorities, Charlie Conchie writes Among the backslapping jubilation of HSBC’s rescue swoop on Monday morning, a singular voice fired a sour warning into the ether. Loss-making start-up the Bank of London had over the weekend launched a bid to buy Silicon Valley Bank’s [...]
Activist investor Elliott puts its hopes on City grandee to make friends and influence private equity deals March 14, 2023 Feared investment firm Elliott has called in the former chairman of BT and Easyjet to act as a senior adviser as it looks to ramp up its private equity operation and soften its reputation around the City.
Silicon Valley Bank: US bosses sued for fraud as fallout from collapse begins March 14, 2023 The parent company of Silicon Valley Bank and two of its top bosses are being sued by shareholders who have accused them of hiding the lender’s vulnerabilities to the effects of rising interest rates.
ISA season: Beat inflation with an IFISA March 13, 2023 | Sponsored With inflation still hovering around 10 per cent, savvy investors across the UK are searching for the most lucrative opportunities to protect their portfolios from eroding in real terms. As we head into ISA season, there is also the opportunity to enjoy tax-free earnings on your investments, giving consumers an additional boost during the cost-of-living [...]
Phoenix: Insurer hikes dividend after volatile markets hit investments and share price March 13, 2023 British insurer Phoenix Group today posted a £1.23bn loss as volatile markets hit the value of the insurance company’s investment portfolio. Shares in the FTSE 100 company fell sharply on the news as Phoenix pointed to the “challenging economic backdrop” after noting it generated 12.5 per cent less cash than in 2021 The insurer, however, [...]